Global Polycarbonate Market Report and Forecast 2023-2028

Global Polycarbonate Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global polycarbonate market reached a volume of 4.92 million metric tons in 2022. Aided by the increasing demand for lightweight, durable materials and the growing applications of polycarbonate in various industries, the market is projected to further grow at a CAGR of 3.30% between 2023 and 2028 to reach a volume of 5.99 million metric tons by 2028.

Polycarbonate is a versatile thermoplastic known for its high impact resistance, transparency, and light weight. It is extensively used in various applications, such as automotive components, construction materials, consumer electronics, and medical devices. Its intrinsic properties, such as thermal resistance and electrical insulating capacity, make polycarbonate an ideal material in an array of industrial applications.

The growing demand for sustainable and energy-efficient solutions is driving the global polycarbonate market growth. The material’s exceptional strength-to-weight ratio and transparency have led to its increasing use as a lightweight alternative to glass in energy-efficient building applications.

The diverse applications of polycarbonate in various industries significantly contribute to the expansion of the market. In the automotive sector, polycarbonates are used to produce lightweight, impact-resistant components that contribute to fuel efficiency and safety. Its use in headlamp lenses, sunroofs, and dashboard components is prevalent.

In the construction sector, polycarbonate sheets are used as an alternative to glass and other plastics in skylights, windows, and protective barriers due to their superior strength and light transmission properties. In consumer electronics, polycarbonate's electrical insulation properties and durability make it a prime choice for manufacturing various components.

Furthermore, the healthcare sector is boosting the polycarbonate market demand by employing polycarbonate for medical devices and equipment, given its biocompatibility, strength, and resistance to sterilisation processes. Its transparency is particularly advantageous in applications where clear visibility is essential, such as in surgical instruments and diagnostic devices.

Polycarbonate production typically involves the use of bisphenol A (BPA), which has raised environmental and health concerns. In response, the sector is innovating with the development of BPA-free polycarbonates and recycled polycarbonates to align with growing environmental and consumer safety expectations.

The drive towards sustainability is also reflected in increasing efforts to improve the recyclability of polycarbonate products, thereby contributing to the circular economy. Innovations, such as the development of bio-based polycarbonates from CO2 and plant-based feedstocks, present promising avenues for polycarbonate market outlook.

Asia Pacific is expected to continue its dominance in the global polycarbonate market due to rapid industrialisation and expanding automotive and construction sectors in countries such as China, India, and Southeast Asian nations. Europe and North America are also significant markets, where demand is driven by stringent regulations around energy efficiency and increased adoption of electric vehicles, which leverage polycarbonate components for weight reduction.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Electrical and Electronics
• Automotive
• Construction
• Optical Media
• Packaging
• Consumer
• Medical

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global polycarbonate market. Some of the major players explored in the report by Expert Market Research are as follows:

• Covestro AG (OTCMKTS: COVTY)
• SABIC
• Teijin Limited
• Mitsubishi Chemical Corporation
• Formosa Chemicals & Fibre Corporation
• Trinseo S.A.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.