Global Polycarbonate Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Polycarbonate Market Size

The global polycarbonate market demand 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.

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.

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