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Report Overview
The global polycarbonate market size reached a volume of 5.08 MMT in 2024. The demand for the product is expected to grow at a CAGR of 3.30% in the forecast period of 2025-2034. By 2034, the polycarbonate market demand is estimated to reach a volume of 7.03 MMT.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- Polycarbonate, renowned for its lightweight nature and high thermal insulation properties, is gaining popularity as a construction material for applications such as facades, roofings, and windows. In 2024, the construction sector in the US was valued at nearly USD 2.1 trillion. As the expansion of the construction industry boosts advancements in construction methods and smart buildings, the use of polycarbonate materials in light-transmitting walls, transparent insulation, and energy-efficient designs is rising.
- There is a growing emphasis on enhancing the sustainability of the building and construction sector as it is one of the largest emitters of greenhouse gases and accounts for 37% of global emissions. Polycarbonate, due to its properties such as UV resistance, thermal insulation, and durability, is increasingly used in eco-friendly building projects. In the forecast period, the introduction of stringent building codes and regulations by governments globally to reduce greenhouse gas emissions is anticipated to provide lucrative polycarbonate market opportunities.
- Polycarbonate is an essential material in the production of consumer electronics such as laptops, televisions, smartphones, and tablets, among others, due to its properties such as thermal stability, impact resistance, and optical clarity. Hence, the expansion of electronic manufacturing globally is surging the consumption of polycarbonate. For instance, the value of electronics production in India stood at USD 101 billion in FY 2023. Moreover, the robust growth of the electronics industry is expected to bolster the demand for customised polycarbonate solutions with properties such as flame and scratch resistance.
Compound Annual Growth Rate
Value in MMT
3.3%
2025-2034
Polycarbonate Market Outlook
*this image is indicative*
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.
Key Trends and Developments
Rising demand for electric vehicles (EVs); surging use of polycarbonate in packaging; growing emphasis on sustainability; and technological advancements and innovations are favouring the polycarbonate market expansion.
Growing demand for electric vehicles (EVs)
Due to its lightweight properties and high-impact resistance, polycarbonate is used in electric vehicles to extend their driving range and battery life, improve driving experience, and enhance vehicle and occupant safety during collisions. The transparency, design flexibility, and mouldability of polycarbonate are surging the creation of aesthetically pleasing and modern EVs.
Increasing use of polycarbonate in packaging
Polycarbonate, boasting excellent impact resistance and durability, is increasingly used in durable and robust packaging in sectors such as food and beverages, electronics, and pharmaceuticals to protect content from damage during handling and transportation. Besides, the high-strength, transparency, and premium appearance of polycarbonate are boosting its demand in packaging high-end luxury goods, pharmaceuticals, and cosmetics.
Rising emphasis on sustainability
The growing emphasis on sustainability is shaping the polycarbonate market trends and dynamics. Key players are developing bio-based polycarbonate by utilising renewable feedstocks like plant-based materials to reduce the reliance on fossil fuels. Moreover, the rising adoption of circular economy models is leading to the development of advanced recycling technologies for reusing and recycling polycarbonate.
Technological advancements and innovations
Advancements in material science are leading to the creation of more durable and stronger polycarbonate formulations with improved heat and impact resistance. In addition, technological advancements and innovations are expected to the development of customised formulations of polycarbonate that offer varying levels of heat resistance, strength, clarity, and chemical resistance.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Segmentation
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.
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
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Polycarbonate Industry Analysis
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.
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Competitive Landscape
Key polycarbonate market players are focusing on the development of speciality polycarbonate grades for use in sectors such as electronics, automotive, and construction. Polycarbonate companies are also incorporating nanotechnology into polycarbonate materials to enhance their strength, wear and tear resistance, and thermal stability.
Covestro AG
Covestro AG, established in 2015 and headquartered in Leverkusen, Germany, is a prominent manufacturer of high-quality polymer materials and components. The company offers innovative processes, methods, and products to enhance sustainability. It serves various sectors, including building and living, mobility, and electrical and electronics. In FY 2023, the company generated sales of EUR 14.4 billion.
SABIC
SABIC, founded in 1976 and headquartered in Riyadh, Saudi Arabia, is one of the largest chemical and petrochemical manufacturers in the world. The company’s products and services are used in various sectors such as packaging, hygiene and healthcare, consumer products, electrical and electronics, building and construction, and packaging, among others. Boasting 31,000 employees and serving customers in more than 140 countries, the company boasts 11,000 patents and pending applications.
Teijin Limited
Teijin Limited, established in 1918 and headquartered in Tokyo, Japan, is a technology company that serves segments in two businesses, including healthcare solutions and high-performance materials. It comprises 170 companies and employs 20,000 people in 20 countries. In the fiscal year ending in March 2024, the company posted consolidated sales of JPY 1,032.8 billion.
Trinseo S.A.
Trinseo S.A., founded in 2010 and headquartered in Pennsylvania, United States, is a speciality materials company that serves various sectors, including consumer goods, buildings and construction, mobility, and medical, among others. Its business segments include polystyrene, engineered materials, latex binders, and plastics solutions. In 2023, the company generated net sales of USD 3.7 billion.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the polycarbonate market are Mitsubishi Chemical Corporation, and Formosa Plastics Corporation, among others.
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Polycarbonate Market Report Snapshots
*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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Key Questions Answered in the Report
In 2024, the market attained a volume of 5.08 MMT.
The market is projected to grow at a CAGR of 3.30% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach a volume of 7.03 MMT by 2034.
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.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
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