The global polycarbonate market size reached a volume of 5.08 million metric tons in 2023. The demand for the product is expected to grow at a CAGR of 3.30% in the forecast period of 2024-2032. By 2032, the polycarbonate market demand is estimated to reach a volume of 6.82 million metric tons.
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The Asia Pacific is the major supply market, accounting for around 60% of the market share. China’s recent capacity addition is likely to reduce Asia’s polycarbonate import reliance in the coming years. With the growing demand in the region, the capacity is also witnessing an expansion, along with the utilization of the plants to their full potential. The growing electronics industry is majorly driving the demand in the region. There is no cheaper alternative to polycarbonate available in the region, which is propelling the market growth for polycarbonate further. Covestro AG, one of the key players, began to build its new production line for manufacturing polycarbonate films in Thailand in 2018. The production line is expected to expand the capacity for films, thus, expanding the region’s supply to meet the rapidly growing demand.
The Asia Pacific region is followed by Europe and North America as the other major regional markets for polycarbonate. In both Europe and North America, the demand for polycarbonate is being driven by the growth of the automotive and construction industries. In North America, the rising demand for industrial-grade polycarbonate is driving the consumption of the product, which is used in the automotive and electronics sectors. While the region is a net exporter of the substance, North America also imported from South Korea due to domestic supply constraints
In Europe, construction is the leading application sector for polycarbonate, with roofing, windows, and partition walls accounting for over three-fourths of its applications in the construction industry. The medical industry is also contributing to the demand in Europe. The region is a net importer of the product, and the market is supported by the capacity expansions taking place within the Asia Pacific region. South Korea is a leading exporter of polycarbonates to the region. The supply in Europe is also expected to improve in the coming years with planned capacity additions.
Polycarbonate, also known as bisphenol A polycarbonate, is a transparent plastic used to make shatter-resistant frames and light eyeglass lenses, among other products. Polycarbonates (PCs) refer to a category of carbonate, containing thermoplastic polymers in its chemical structures. Polycarbonates applied in engineering are solid, hard materials, and some grades are optically transparent. These are easily moulded and thermoformed. These properties help them find extensive applications in a wide variety of industries.
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They find their applications in the following segments:
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The growing demand from the automobiles industry is driving the polycarbonate market growth across the globe. The polycarbonate industry growth is also aided by the growing economies and the rising disposable of consumers, especially in emerging economies like India, China, and others. Moreover, the increasing demand for consumer goods is also providing a push to polycarbonate market growth.
Blends of polycarbonate with different polymers, namely, ABS, thermoformed PC films, and polyester, are witnessing a rising demand across industrial sectors. The growing demand for these blends is providing an impetus to the polycarbonate market growth. The industrial-grade polycarbonates are also being increasingly demanded by the consumers, thus, aiding the overall growth of the polycarbonate market. Polycarbonates are being used in the medical industry for making appliances like a surgical instrument, as well as other substitutes used in surgeries. Other new and advanced technologies in the industry, like sensors, service robots, and LED luminaires, are pushing the polycarbonate market growth further.
The growing demand in North America is due to the growth of the end-use industries like the automobiles sector. Polycarbonate is used in automobiles due to its lightweight feature, as well as high impact resistance. In Europe, the polycarbonate market is significantly driven by the growing household industry. The region is also witnessing an increasing demand from the electronics industries.
December 2018- Covestro AG (OTCMKTS: COVTY) started the building of its new polycarbonate films manufacturing line at its Map Ta Phut Industrial Estate in Thailand.
The report gives a detailed analysis of the following key players in the global polycarbonate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a volume of 5.08 million metric tonnes.
The market is projected to grow at a CAGR of 3.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 6.82 million metric tonnes by 2032.
The major drivers of the market are rising disposable incomes, increasing population, increasing demand for consumer goods, and growth of end-use industries.
The key trends guiding the growth of the global polycarbonate market includes the introduction of new and advanced technologies and rapid growth of economies.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Electrical and electronics, automotive, construction, optical media, packaging, consumer, and medical are the leading applications of polycarbonate in the market.
The major players in the market are Covestro AG, SABIC, Teijin Limited, Mitsubishi Chemical Corporation, Formosa Chemicals & Fibre Corporation, and Trinseo S.A., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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