The latest report by IMARC Group, titled “Polycarbonate Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global polycarbonates market size. The global market size reached US$ 10.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
Polycarbonate is a type of thermoplastic polymer that is known for its high impact resistance and optical clarity. It is commonly used in various industries due to its exceptional properties as it is lightweight, making it suitable for applications where weight is a concern, such as in the manufacturing of eyewear lenses, safety goggles, and automotive components. One of the main features of polycarbonate is its impact resistance, making it almost unbreakable in comparison to traditional glass or other plastics. Additionally, polycarbonate exhibits good electrical insulation properties, making it useful for electrical and electronic applications. It can also be easily molded into various shapes, making it suitable for manufacturing a wide range of products. Due to its versatility and beneficial characteristics, polycarbonate has gained popularity in numerous industries, including aerospace, construction, automotive, electronics, and more. Its extensive range of applications and outstanding properties contribute to its significance in the materials market.
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Polycarbonate Market Trends and Drivers:
The global polycarbonate market is witnessing significant growth, driven by the continuous demand from sectors such as automotive, electronics, aerospace, and construction industries. In the automotive industry, polycarbonate is gaining traction as a preferred material for manufacturing lightweight and durable components. The need to reduce vehicle weight and enhance fuel efficiency is compelling automakers to incorporate polycarbonate in various parts, ranging from headlamp lenses to interior trim components. Additionally, polycarbonate’s UV resistance makes it an ideal choice for exterior applications, ensuring the longevity of automotive parts exposed to harsh weather conditions. The electronics industry is another significant contributor to the growth of the polycarbonate market. With the increasing adoption of consumer electronic devices, there is a rising demand for high-quality, scratch-resistant, and visually appealing screens. Polycarbonate’s excellent optical clarity, combined with its ability to withstand impact, makes it an excellent choice for manufacturing display panels, protective screens, and covers. Furthermore, the construction sector is witnessing a surge in the use of polycarbonate due to its versatility and adaptability in architectural applications. Polycarbonate sheets and panels find extensive usage in skylights, roofing materials, and greenhouse construction. The material’s lightweight nature and ease of installation make it a preferred choice for modern architectural designs that emphasize sustainability and energy efficiency. Moreover, the market is experiencing a boost from the increasing focus on sustainable and eco-friendly practices. Manufacturers are investing in research and development to create bio-based polycarbonate options with reduced volatile organic compounds (VOCs). This aligns with the growing global awareness about environmental conservation and the demand for greener solutions in the industrial sector.
Report Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
- Sheets and Films
- Fibers
- Blends
- Tubes
- Others
Application Insights:
- Automotive
- Electrical and Electronics
- Construction, Sports and Recreational
- Optical Media
- Appliances and Housewares
- Packaging
- Medical and Ophthalmic
- Others
Imports and Exports:
- Import Trends
- Import Breakup by Country
- Export Trends
- Export Breakup by Country
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Chi Mei Corporation
- Covestro AG
- Formosa Chemicals & Fibre Corporation
- Idemitsu Kosan Co. Ltd.
- LG Chem
- Lotte Chemical Corporation
- Mitsubishi Engineering Plastics Corp.
- SABIC
- Teijin Limited
- Trinseo
Recent Developments:
- In January 2023, Arcturus Therapeutics Inc. stated that the clinical trial proposal for the cystic fibrosis drug arct-032 gained clearance to move forward with first-in-human research.
- In October 2022, Moderna Therapeutics Inc. revealed that it has acquired an emergency use authorisation (EUA) from the US Food and Drug Administration (FDA) for its bivalent COVID-19 booster vaccine, mRNA-1273.222, which targets the BA.4/BA.5 omicron in children and adolescents between the ages of 6 and 17.
- In June 2022, CureVac AG announced the purchase of private business Frame Cancer Therapeutics (Frame), a leader in sophisticated genomics and bioinformatics.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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