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Polycarbonate Resins Market

Market Insights on Polycarbonate Resins covering sales outlook, demand forecast & up-to-date key trends

Polycarbonate Resins Market By Applications (Packaging, Optical Media, Medical, Consumer, Electrical & Electronics, Automotive, Films) & Region - Forecast 2022-2032

Polycarbonate Resins Market Overview

Global Polycarbonate Resins demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2%to be valued at US$ 8.8 Billion from 2022 to 2032. Because of the expanding electronics and automotive sectors, the worldwide polycarbonate resins market is predicted to increase significantly over the next ten years.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 5 Billion

Expected Market Value (2022)

US$ 5.3 Billion

Anticipated Forecast Value (2032)

US$ 8.8 Billion

Projected Growth Rate (2022-2032)

5.2% CAGR

Polycarbonate resins are widely employed in electrical/electronic equipment as well as a variety of automotive applications. Polycarbonate resins are a material of choice for applications that require impact resistance due to their unique mix of characteristics. Its durability, along with transparency and high-temperature resistance, makes it ideal for demanding transparent applications where safety is paramount. As a result, polycarbonate resins are progressively replacing glass in a variety of applications, including medical equipment, electronics, roofing, and automobiles.

The increasing use of polycarbonate variations in mobile phones and tablets will be a crucial factor of industry growth. The growing public awareness of carcinogenic residues, as well as the difficulty of obtaining permits and making large initial expenditures, may stymie the industry's expansion. The growing use of polycarbonate resins over conventional fibres and glass in automotive, medical equipment, electronics, and roofing, on the other hand, will provide additional impetus to the product demand surge.

Which are Some Prominent Drivers Spearheading Polycarbonate Resins Market Growth?

The growing preference for polycarbonate resins over conventional glass fibres has been a primary driver of the polycarbonate resins industry. Demand for polycarbonate resins is being driven by greater research and development, which is resulting in a broader application scope for these resins. The rising demand for polycarbonate resins in many specialty categories such as medical equipment and blue ray discs is expected to give the market with significant potential prospects in the coming years.

Furthermore, due to environmental concerns, the development of bio-based polycarbonates is likely to offer this market with enormous potential prospects. Moreover, Plastics consumption is expected to rise, benefiting the worldwide market. Growing demand for environmentally friendly goods is predicted to boost demand for polycarbonate resins. Polycarbonate resins offer exceptional optical qualities, physical properties, and recyclability, giving them a competitive advantage over metal, PVC, PE, and PET.

Polycarbonate resin uses may be found in a variety of sectors, including automotive, electronics, medical equipment, building and construction, and optical media. A significant increase in polycarbonate resin demand for the production of optical discs and other electronic devices is expected to boost worldwide market expansion.

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What are the Challenges Faced by the Polycarbonate Resins Industry?

Increasing public knowledge of the dangers of Bisphenol-A. Over the projected period, use and carcinogenic residues are expected to pose a hindrance to the growth of the polycarbonate resins market.

The worldwide market's growth is expected to be slowed by high initial expenditures, limited access to licenses, and the difficulties in creating an effective and efficient marketing network. Threats from replacements such as polypropylene, co polyesters, and polystyrene are also projected to have a detrimental impact on market growth prospects.

Why is Asia-Pacific emerging as an Opportunistic Polycarbonate Resins Market?

The Asia Pacific region has led the worldwide polycarbonate market, and this trend is expected to continue over the projected period. The growing economies of China and India have a considerable need for polycarbonate resins to support escalating urbanization, accounting for the majority of the Asia Pacific polycarbonate resins market.

Nikhil Kaitwade
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How is North America Contributing to Growth of the Polycarbonate Resins Market?

According to Future Market Insights, The North American market is characterized by widespread automobile glazing and high demand for medical-grade polycarbonate. The region's construction industry is predicted to revive and contribute to market expansion.

Market Competition

To acquire market share and achieve sustainability, major industry competitors are spending in R&D to produce higher quality polycarbonate resins. Bayer Material Science AG, Mitsubishi Engineering Plastic, Mitsubishi Gas Chemical Co., SABIC IP, Formosa Fiber & Chemical Corporation, Teijin Ltd., and Idemitsu Kosan Ltd. are among the prominent polycarbonate resin market participants.

Attributed to the presence of such high number of participants, the market is highly competitive.

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Scope Of Report

Report Attribute

Details

Growth Rate

CAGR of 5.2% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Bayer Material Science AG
  • Mitsubishi Engineering Plastic
  • Mitsubishi Gas Chemical Co.
  • SABIC IP
  • Formosa Fiber & Chemical Corporation
  • Teijin Ltd.
  • Idemitsu Kosan Ltd.

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Key Segments Profiled in the Polycarbonate Resins Industry Survey

Application:

  • Electrical & Electronics
  • Optical Media
  • Consumer
  • Automotive
  • Films
  • Packaging
  • Medical
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Polycarbonate Resins market to expand at a 5.2% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic polycarbonate resins market

Bayer Material Science AG, Mitsubishi Engineering Plastic, Mitsubishi Gas Chemical Co., SABIC IP, Formosa Fiber & Chemical Corporation, Teijin Ltd., and Idemitsu Kosan Ltd., are some prominent Polycarbonate Resins manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Polycarbonate Resins Market