Global Polycarbonate Market: Analysis and Forecast 2022-2027
Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Polycarbonate Market
The global Polycarbonate Market was valued to be worth USD 15.61 billion in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 3.4 percent, achieving a value of around USD 18.82 billion by 2027.
The Polycarbonate Market broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. The most important driver for the industry is the extensive use of Polycarbonate in the automotive sector. The Asia Pacific is the biggest category spender by region which is impelling the demand for the Polycarbonate industry.
Polycarbonate: Market Definition and Segmentation
A polyester made of phenyl, carbonate, and two methyl groups, polycarbonate, is produced via an interfacial reaction among carbonyl chloride and bisphenol-A. They are optically translucent, solid, resilient materials, simple to work with, and can be easily moulded, and formed into a shape.
Hence, they are used in engineering and for particular grades. It is available in various types of grades, differing on the application. Polycarbonates have a broad variety of usages owing to their qualities. This clear plastic is applied in lightweight eyeglass lenses, interior cladding, roofing designs, shatter-resistant windows, outdoor glazing, automotive, packaging, electrical and electronics, and personal security applications.
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The Polycarbonate Market comprises segments:
- By application – Electrical, Electronics, Automotive, Construction, Optical Media, Packaging, Consumer, Medical.
- By region – North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
Snapshot of the Report
The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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The vast range of industries in which the product is used, including its use as a substitute for PVC in medical equipment, is propelling the market. Switching relays, sensor components, LCD parts, connections, mobile phones, and computers all use it because of its lightweight and good impact strength. Hollow polycarbonates are extensively utilised in wire insulation applications in the electrical and electronics sectors because they are excellent thermal insulators.
Polycarbonate sheet is the most used material in the production of optical discs such as CDs, DVDs, and Blu-ray Discs. Various technological advancements, such as the development of augmented reality (AR) and virtual reality (VR)-based goods, sensors, and polycarbonate-based drones, all contribute to the industry’s growth.
Category Insight by Region
Due to China’s industrial and construction activities, the Asia Pacific region owns the greatest share of the market. The electronics sector in the area boosted the market significantly. Furthermore, the business is growing because of the scarcity of alternative materials in the area.
The expanding trend of materials used in the automobile industry is propelling the industry forward. In the electrical and electronics sectors, the product is utilised to make a variety of items. Regulatory requirements are pressuring automakers to use plastics to reduce car weight and improve fuel economy, which is aiding growth.
Other reasons, such as the widespread use of polycarbonate in agriculture for UV-resistant roof panels and sheets in agricultural outbuildings, as well as intensive research and development (R & R&D) initiatives to produce high-performance polymers, are likely to fuel the market even more. Manufacturers are expected to benefit from product enhancements for medical applications and the expanding commercialization of the bio-polycarbonate industry in the future.
Best Procurement Practices
The polycarbonate industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of polycarbonate products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
The main polycarbonate material is made from bisphenol A (BPA) and phosgene COCl2. The treatment of bisphenol A with sodium hydroxide, which deprotonates the hydroxyl groups of bisphenol A, is the first step in the synthesis. When diphenoxide reacts with phosgene, a chloroformate is produced, which is then attacked by another phenoxide. Each year, approximately one billion kg of polycarbonate is produced in this method.
A variety of diols have been used to replace bisphenol A. To keep the BPA-derived product from crystallising, the comonomer cyclohexane is used. Tetrabromobisphenol A is a flame-retardant substance. Tetramethylcyclobutanediol has been developed as a BPA replacement. Polycarbonates can also be made by transesterification of BPA with diphenyl carbonate.
Key Supplier Profiles included in the Polycarbonate Market
The key market players are Covestro AG, SABIC, TRINSEO, Teijin Limited, and Mitsubishi Engineering-Plastics Corporation.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
Also Check Other Industry Reports
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