PUBLISHER: Roots Analysis | PRODUCT CODE: 1836226
PUBLISHER: Roots Analysis | PRODUCT CODE: 1836226
As per Roots Analysis, the global polycarbonate market size is estimated to grow from USD 17.70 billion in the current year USD 33.20 billion by 2035, at a CAGR of 5.88% during the forecast period, till 2035.
The opportunity for polycarbonate market has been distributed across the following segments:
Type of Grade
Type of Application
Geographical Regions
Polycarbonate Market: Growth and Trends
Polycarbonate is a type of thermoplastic polymer widely utilized in a variety of applications due to its lightweight nature, strength, transparency, and resistance to impact. The material was initially patented by Herman Schnell in 1953 and is produced through chemical reactions involving bisphenol A and phosgene. This manufacturing process for polycarbonate, which includes extrusion and injection molding, remains in use today. Its molecular structure and distinct characteristics enable it to endure significant physical stress without breaking or distorting.
As a result, the demand for polycarbonate is increasing rapidly across multiple sectors. This surge is attributed to the qualities, such as heat resistance, outstanding thermal insulation, and flexibility, making it a versatile option for manufacturing.
Moreover, the presence of various grades of polycarbonate, like general-purpose, medical, and flame-retardant grades, has expanded the possibilities within the polycarbonate market. An analysis of polycarbonate production capacity indicates that Asia holds substantial potential for material production. Reports suggest that the capacity for producing polycarbonate in Asia is set to grow and is projected to reach 2.05 million tonnes per year by 2028, spurred by rising demand from the packaging, automotive, and construction sectors.
In addition to primary drivers, emerging market trends are propelling market growth. For example, the increasing demand for sustainable and recycled materials, along with advanced-grade polycarbonate for specific uses, is generating profitable opportunities for stakeholders. Consequently, companies within this industry are increasingly investing to enhance their capacity for sustainable polycarbonate production. As a result, owing to the above mentioned factors, the polycarbonate market is anticipated to grow significantly during the forecast period.
Polycarbonate Market: Key Segments
Based on type of grade, the global polycarbonate market is segmented into flame retardant grade, food grade, medical grade, standard purpose grade, and others. According to our estimates, currently, the standard grade segment captures the majority of the market share, due to its adaptability and wide range of uses. Additionally, polycarbonate is regarded as the optimal substitute for glass, metal, and wood, and is extensively utilized across numerous applications.
On the other hand, the flame retardant segment is anticipated to grow at a higher CAGR during the forecast period. The surge in demand for flame retardant materials in various applications, including air conditioners, refrigerators, and other household appliances, significantly supports the growth of this segment. Furthermore, the medical-grade polycarbonate is also significantly boosting market expansion due to its rising application in the production of medical devices and equipment.
Based on type of application, the global polycarbonate market is segmented into automotive, construction, electrical, medical equipment, packaging, and others. According to our estimates, currently, the electrical application segment captures the majority of the market share, driven by its usage in electronic devices such as smartphones, laptops, and more because of its transparency, heat resistance, and durability.
On the other hand, the construction sector is anticipated to grow at a higher CAGR during the forecast period. Driven by the need for safety and longevity in construction projects, polymer materials are frequently employed in producing polycarbonate sheet applications, such as glass alternatives, skylights, wall panels, and others. Additionally, the diverse applications of polycarbonate in the automotive industry are further supporting market growth.
Based on geographical regions, the polycarbonate market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market. Further, market in North America is expected to grow at a higher CAGR during the forecast period, due to a strong demand for flame retardant grade materials, especially in the electronics and construction sectors in the region.
Moreover, Europe is also contributing to market growth, driven by the burgeoning automotive sector where polycarbonate is mainly utilized in both the interior and exterior components of vehicles.
Polycarbonate Market: Research Coverage
The report on the polycarbonate market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits