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Report Overview
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.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
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 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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