The global polycarbonate
market is expected to reach USD 25.37 billion by 2024, according
to a new report by Grand View Research, Inc. Regulatory policies are
encouraging automotive OEMs to use plastics, as a means of reducing vehicular
weight & improving fuel efficiency, to play a prominent role in driving
growth. Polycarbonate is a completely recyclable polymer and is therefore
favored as a substitute to PVC particularly in medical devices. In comparison,
PC resins offer greater tensile strength & flexural modulus meaning they
can be easily processed and even blended with other resins such as styrenic
copolymers and PBT.
In the recent past, regulations aimed at reducing
plastics wastage has encouraged the role of recycling. PC resins being
completely recyclable are expected to benefit from such regulations, and in
turn, ease up global supply constraints.
Electrical & electronics and transportation
remained dominant application markets, and the segments together accounted for
nearly half of the overall consumption in 2015. In the electronics sector,
polycarbonate is widely used for producing power housings, connectors, household
appliances and battery boxes. Furthermore, the resin’s optical clarity has led
to its usage in headlamps, face shields, laminates, and windshields.
Browse full research report on Polycarbonate Market: https://www.grandviewresearch.com/industry-analysis/polycarbonate-market
Further
key findings from the report suggest:
- The global polycarbonate market demand exceeded 4.30 million tons
in 2015 and is expected to reach 7.72 million tons by 2024, growing at a
CAGR of 6.9% from 2016 to 2024
- Asia Pacific offer tremendous opportunities for manufacturers as
resin requirements from automotive and construction industries expected to
rise significantly as a result of rising investments in passenger car
production and public infrastructure
- China emerged as the leading consumer in Asia Pacific and accounted
for nearly 60% of the regional volume in 2015
- Against the backdrop of slowing GDP growth, China offers
opportunities in the construction sector. New housing starts and resuming
civil projects as a result of monetary policy restructuring and liquidity
easing will be the primary demand driving factor
- Global polycarbonate trade balance stood at a deficit of USD 2.84
billion signifying concentration of production activities. The U.S. was
the leading exporter with trade value estimated at USD 1.22 billion in
2015.
- In contrast, China was the largest importer of PC resins with trade
value estimated at nearly USD 4.0 billion in 2015. During the same period,
Chinese exports were valued at USD 650 million.
- Diversifying operational presence remains a key factor for
producers. Establishing commercial supply agreements with end-users such
as automotive OEMs and electronics manufacturers remains crucial for a
stable consumer base
- Key companies operating in the industry include SABIC, Bayer, Lotte
Chemicals, Mitsubishi, Chi Mei Corp., RTP Co., LG Chem, and Idemitsu Kosan
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the polycarbonate market on the basis application
and region:
Global
Polycarbonate Application Outlook (Volume, Kilo Tons; Revenue, USD Million;
2014 - 2024)
- Transportation
- Electrical
& Electronics
- Construction
- Packaging
- Consumer
Goods
- Optical Media
- Medical
Devices
- Others
Global
Polycarbonate Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 -
2024)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- Russia
- Spain
- Asia Pacific
- China
- India
- Japan
- Korea
- Taiwan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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