Market Summary: According to a recent report from Reports and Data, the Global Polycarbonate Resins market is projected to achieve a market value of USD 25.23 Billion by the year 2028. Polycarbonate (PC) resins are a type of thermoplastic polymer, which means they can be molded at high temperatures and remelted while retaining their inherent characteristics. This sets them apart from thermosets, which undergo irreversible changes once they harden. This characteristic makes thermoplastics recyclable.
Some of the other notable thermoplastics include Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Acrylonitrile Butadiene Styrene, acrylic, Polytetrafluoroethylene (PTFE), and nylon. Polycarbonate resin is ductile at room temperature, allowing for easy bending when locally heated along the bend line to reduce stress fracturing. PC resin also maintains stability at high temperatures, making it suitable for the production of Medical Devices that require steam sterilization. These medical devices can also be sterilized with radiation and ethylene oxide through a limited number of cycles. Additionally, it is used in consumer goods to provide a glass-like appearance without the weight and fragility of actual glass. Applications in consumer goods include drinkware, blenders, food processors, water filter housings, nursing bottles, among others, resulting in a wide range of applications that support sector growth.
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However, while various factors support industrial growth, there are adverse elements, such as concerns related to residual BPA in medical applications and food packaging, that could negatively impact the sector's growth.
In terms of regions, Asia Pacific is expected to dominate the market, driven by increasing demand for electronic products and a well-established automotive sector.
Key Report Highlights:
1. Detailed statistics on the Polycarbonate Resins market at a regional and country level from 2020 to 2028, with historical data from 2016 and 2017, using 2020 as the base year, and forecasting up to 2019-2028.
2. Market size estimation and historical and projected trend analysis.
3. Analysis of various alternative types with statistical data for individual segment shares.
4. Examination of the regulatory framework in each region.
5. Insights into ongoing research and application outlook.
6. Mapping of regional prevalence of Polycarbonate Resins.
7. Demand and supply gap analysis.
8. Pricing strategies of regional competitors.
9. Market share analysis of top industry players.
Salient Trends of the Polycarbonate Resins Market: The Polycarbonate Resins market is projected to grow at a rate of 6.0% during the forecast period, reaching a market value of USD 25.23 Billion in 2028. Industry players are taking various initiatives to support sector growth, such as launching new products. For instance, in October 2019, SABIC introduced the first polycarbonate based on certified renewable feedstock, which can be used with existing equipment under the same process conditions, contributing to reduced CO2 emissions.
Companies Profiled in the Study: Bayer Materialscience Ag, SABIC Innovative Plastics, Teijin Ltd., Bayer Materialscience Ag, Chi Mei Corporation, Mitsubishi Engineering-Plastics Corporation, LG Chem Ltd., Formosa Chemicals & Fiber Corporation, Samyang Corporation, and Samsung Sdi Co., Ltd. These companies have employed various strategies, including new product launches, partnerships, acquisitions, and mergers to retain and expand their market share.
Market Insights: The Polycarbonate Resins market was valued at USD 15.93 Billion in 2020 and is forecasted to grow at a rate of 6.0% during the forecast period. Commercial grade Polycarbonate Resins accounted for over 90.0% of the market share in 2020 and are expected to grow at a rate of 5.7% during the forecast period. This dominance is due to the widespread use of commercial-grade resin in various industrial applications, including building and construction, automotive, electrical and electronics, and consumer goods. The online sales channel is projected to witness significant growth at a rate of 6.7% during the forecast period, expected to hold over 30.0% of the market by 2028, thanks to the growing e-commerce industry. In terms of applications, Electrical & Electronics held the largest market share of over 25.0% in 2020, with a CAGR of 6.2% during the forecast period. The dominance of the Asia Pacific region is attributed to the increasing demand for electronic products and the well-established automotive sector.
Report Segmentation: The report segments the global Polycarbonate Resins market based on Grade, Sales Channel, Application, and Region:
- Grade Outlook: Commercial grade, Medical grade
- Sales Channel Outlook: Online, Offline
- Application Outlook: Electrical & electronics, Automotive, Building & construction, Consumer goods, Medical, Optical Media, Packaging, Others
- Regional Outlook: North America (U.S.), Europe (U.K, France), Asia Pacific (China, India, Japan), MEA, Latin America (Brazil)
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