Global Polycarbonate Market is Growing at a CAGR of 5.9 % and the Growth is Influenced Due to Increasing Application of Polycarbonate in Industries Such as Electrical & Electronics, and Automotive | Reports and Data
NEW YORK, September 24, 2019 (Newswire.com) - Polycarbonates are a group of transparent amorphous polymer which allows ease of processing and can be easily molded or thermoformed. These materials find application in a variety of products that demand high impact resistance, high-temperature resistance, and optical transparency.
Escalating use of polycarbonates in the electrical & electronics industry is one of the most significant factors contributing to the growth of the market. In this industry, these materials are used in various applications which comprise household appliances like TV’s, power housing, connectors, and battery boxes.
Increasing use of polycarbonates in automotive applications is expected to drive the market in the forecast period. Of the various types of polycarbonates, the extruded sheet has the highest rate of consumption. The materials are deployed in the production of several automotive parts, including headlights, displaced glass, airbag covers, consoles, sunroofs, air vents, and small window panes, among others. The windows and windscreens offer the highest growth opportunities for the market players in the upcoming years. The high impact resistance, high-temperature resistance, and optical transparency of these materials makes them an essential constituent in advanced automotive lighting applications, comprising headlamp lenses, headlamp bezels, and light guides.
Polycarbonates are extensively used in construction products comprising windows and skylights to wall panels and roof domes to exterior elements for LED lighting owing to their several important characteristics including high impact resistance, and high flammability resistance among others.
A high capital requirement, as well as the availability of the substitute products, may create hindrances in the growth of the market in the forecast period.
The global polycarbonate market is expected to reach USD 28.77 Billion by 2026, according to a new report by Reports and Data.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global polycarbonate market on the basis of type, grades, applications, and region:
Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Grades Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Injection Molding
Applications Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Electrical & Electronics
- Consumer Goods
- Optical Media
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Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
Further key findings from the report suggest
- Injection molding is the most widely used method to manufacture products from polycarbonates and its blends. This process is commonly used to produce polycarbonate bottles, and plates, among others.
- The electrical and electronics segment accounted for the largest market share of over 25% in 2018 owing to surging demand for polycarbonate plastics and resins in applications like smartphones, compact disks, and other electrical/electronic devices.
- The market in Asia Pacific region contributed to the largest market share in 2018 and is expected to maintain its market dominance throughout the forecast period owing to the growth of the electrical & electronics and automotive industry in the region.
- Key participants include Covestro, SABIC, Teijin Industries, Trinseo, Mitsubishi Engineering Plastics Corp., Lotte Chem, Idemitsu Kosan Co. Ltd., Chi Mei Corporation, Entec Polymers, Lone Star Chemicals, and RTP Company among others.
- In November 2018, SABIC, a major player in the market, launched an advanced new transparent high-heat LEXAN™ CXT film product at the IDTechEx show in California, U.S. The new polycarbonate based technology has superior optical clarity and high design flexibility with exceptional thermal and dimensional stability at higher process temperatures.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polycarbonate-market
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