[Research Report] The polycarbonate market size was valued at US$ 16,148.94 million in 2022 and is projected to reach US$ 24,784.52 million by 2030; it is anticipated to record a CAGR of 5.5% from 2022 to 2030.
MARKET ANALYSIS
Polycarbonate, a transparent thermoplastic with carbonate functional groups, is lightweight and an excellent alternative to glass. The high strength of polycarbonate makes it resistant to impact and fracture. Polycarbonate is melted and forced into a mold with high pressure to provide desired shape as required for various applications. It is highly accepted in industries owing to its eco-friendly processing and recyclability.
GROWTH DRIVERS AND CHALLENGES
Expansion of the electronics and construction industries bolsters the polycarbonate market growth. Polycarbonate is a good source of insulation. This makes it a great material for situations where there are possibilities for electrical arcing or shorting. Polycarbonate is electrical resistant, which makes it ideal for installations where electronics are located near water. The electronics industry is one of the largest and fastest-growing industries in the world. According to Invest India, the global electronics manufacturing services market is anticipated to reach US$ 1,145 billion by 2026, at a CAGR of 5.4% during 2021–2026 (the forecast period). The India Brand Equity Foundation states that the Indian electronics manufacturing industry is projected to reach US$ 520 billion by 2025. The electronic industry is subject to strict quality standards and regulations to ensure the safety, performance, and reliability of electronic products. Polycarbonate is used for manufacturing electronic components such as LCD screens, touchscreens, and computers. The dimensional stability and optical clarity make polycarbonate ideal for these applications, as it can protect the internal components from damage and provide clear and consistent images. Furthermore, polycarbonate is used for various applications, including sound barriers, skylights, and roofing. Its UV stability and high impact resistance make it ideal for outdoor applications, as it can withstand exposure to harsh weather conditions and provide long-lasting performance. The construction industry in numerous countries across the world is rapidly growing. Rise in government investments and increase in demand for residential constructions propel the growth of the construction industry, which drives the polycarbonate market growth. Polycarbonate sheets are known for their high impact resistance, transparency, UV resistance, durability, and versatility. Thus, homeowners and builders are increasingly turning to polycarbonate sheets for applications such as roofing, skylights, and wall claddings. The growing emphasis on energy efficiency and sustainability in residential construction propels the demand for polycarbonate sheets. These sheets are often used in energy-efficient building designs to enhance natural lighting while maintaining insulation properties. This reduces energy consumption and aligns with the environmental goals of many construction projects, contributing to the market's growth. Further, European countries are creating and strengthening their infrastructure by enacting reforms and legislation, which drives the growth of the real estate and infrastructure industries. According to the European Construction Industry Federation, the volume of permits for new buildings (excluding civil engineering) in Germany was US$ 130 billion in 2021, 8% more than in 2020. The governments and regulatory authorities in Asia Pacific focus on additional infrastructure investment. In India, the growth in construction activities is driven by growing industrialization, increasing population, rising middle-class income, and increasing infrastructure development. According to the National Investment Promotion & Facilitation Agency (India), the Indian construction industry is projected to reach US$ 1.4 trillion by 2025. Thus, the utilization of polycarbonate coupled with the expansion of electronics and construction industries, owing to its advantages, is contributing to the growth of the polycarbonate market.
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Polycarbonate Market: Strategic Insights
Market Size Value in US$ 16,148.94 million in 2022 Market Size Value by US$ 24,784.52 million by 2030 Growth rate CAGR of 5.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Polycarbonate Market: Strategic Insights
| Market Size Value in | US$ 16,148.94 million in 2022 |
| Market Size Value by | US$ 24,784.52 million by 2030 |
| Growth rate | CAGR of 5.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Global Polycarbonate Market Forecast to 2030" is a specialized and in-depth study with a significant focus on market trends and opportunities. The report aims to provide an overview of the market with detailed market segmentation on the basis of product type, process, application, and geography. The global polycarbonate market has witnessed significant growth over the past few years and is expected to continue this trend during the forecast period. The report provides key statistics on the use of polycarbonate worldwide, along with their demand in major regions and countries. It also provides a qualitative assessment of various factors affecting the market performance in major regions and countries. The report also includes a comprehensive analysis of the leading market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the significant revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global polycarbonate market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global polycarbonate market is segmented on the basis of product type, process, and application. In terms of product type, the market is segmented into d sheets and films, blends, tubes, and others. Based on process, the market is bifurcated into extrusion and injection molding. By application, the market is segmented into transportation, building and construction, electrical and electronics, optical media, medical devices, and others.
Based on product type, the blends segment held a significant global polycarbonate market share in 2022. By process, the injection molding segment held a larger market share in 2022. Based on application, the electrical and electronics segment led the market with a significant market share in 2022.
REGIONAL ANALYSIS
The report provides a detailed overview of the global polycarbonate market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. APAC accounted for a significant part of the global polycarbonate market share and was valued at ~US$ 9 billion in 2022. China is a major contributor to the market growth in this region. North America is also expected to witness notable growth, reaching ~US$ 4 billion by 2030. Furthermore, in Europe, there has been a widespread use of polycarbonate. The polycarbonate market in Europe is expected to report a CAGR of ~5% from 2022 to 2030.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches are a few prominent strategies adopted by the players operating in the global polycarbonate market.
In January 2021, Plaskolite LLC introduced TUFFAK CA, a flame-resistant, optical-grade, transparent polycarbonate sheet for interior applications. TUFFAK CA delivers performance without compromising the impact strength and high optical clarity expected of polycarbonate sheets.
Polycarbonate Market Report Scope
IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries across the globe. The crisis disturbed supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. These disruptions restricted the availability of raw materials. It caused delays in production and increased costs, negatively impacting the polycarbonate market.
The global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturing activities are rebounding as countries gradually recover from the pandemic and vaccination efforts continue. Manufacturers are permitted to operate at full capacity to overcome the supply gap. Thus, the global polycarbonate market is anticipated to grow strongly during the forecast period.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Covestro AG; LOTTE Chemical CORPORATION; Mitsubishi Chemical Group Corporation; SABIC; TEIJIN LIMITED; Formosa Chemicals & Fibre Corp.; LUXI GROUP; Idemitsu Kosan Co., Ltd.; Entec Polymers; and Trinseo are a few of the major players operating in the global polycarbonate market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Process, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Polycarbonate Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Polycarbonate Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Polycarbonate Market - Global Market Analysis
6.1 Polycarbonate - Global Market Overview
6.2 Polycarbonate - Global Market and Forecast to 2030
7. Polycarbonate Market – Revenue Analysis (USD Million) – By Product Type, 2020-2030
7.1 Overview
7.2 Sheets and Films
7.3 Blends
7.4 Tubes
7.5 Others
8. Polycarbonate Market – Revenue Analysis (USD Million) – By Process, 2020-2030
8.1 Overview
8.2 Extrusion
8.3 Injection Molding
9. Polycarbonate Market – Volume (Tons), Revenue Analysis (USD Million) – By Application, 2020-2030
9.1 Overview
9.2 Transportation
9.3 Building and Construction
9.4 Electrical and Electronics
9.5 Optical Media
9.6 Medical Devices
9.7 Others
10. Polycarbonate Market - Volume (Tons), Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
10.1 North America
10.1.1 North America Polycarbonate Market Overview
10.1.2 North America Polycarbonate Market Revenue and Forecasts to 2030
10.1.3 North America Polycarbonate Market Revenue and Forecasts and Analysis - By Product Type
10.1.4 North America Polycarbonate Market Revenue and Forecasts and Analysis - By Process
10.1.5 North America Polycarbonate Market Volume, Revenue and Forecasts and Analysis - By Application
10.1.6 North America Polycarbonate Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Polycarbonate Market
10.1.6.1.1 United States Polycarbonate Market, by Product Type
10.1.6.1.2 United States Polycarbonate Market, by Process
10.1.6.1.3 United States Polycarbonate Market, by Application
10.1.6.2 Canada Polycarbonate Market
10.1.6.2.1 Canada Polycarbonate Market, by Product Type
10.1.6.2.2 Canada Polycarbonate Market, by Process
10.1.6.2.3 Canada Polycarbonate Market, by Application
10.1.6.3 Mexico Polycarbonate Market
10.1.6.3.1 Mexico Polycarbonate Market, by Product Type
10.1.6.3.2 Mexico Polycarbonate Market, by Process
10.1.6.3.3 Mexico Polycarbonate Market, by Application
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 United Kingdom
10.2.5 Russia
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Saudi Arabia
10.4.3 U.A.E
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. Pre and Post Covid-19 Impact
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Polycarbonate Market - Key Company Profiles
14.1 Covestro AG
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 LOTTE Chemical CORPORATION
14.3 Mitsubishi Chemical Group Corporation
14.4 SABIC
14.5 TEIJIN LIMITED
14.6 Formosa Chemicals and Fibre Corp.
14.7 LUXI GROUP
14.8 Idemitsu Kosan Co.,Ltd.
14.9 Entec Polymers
14.10 Trinseo
15. Appendix
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud
The List of Companies - Polycarbonate Market
- Covestro AG
- LOTTE Chemical CORPORATION
- Mitsubishi Chemical Group Corporation
- SABIC
- TEIJIN LIMITED
- Formosa Chemicals & Fibre Corp.
- LUXI GROUP
- Idemitsu Kosan Co., Ltd.
- Entec Polymers
- Trinseo
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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