APAC Dominates: Polycarbonate Market Set to Surge by USD 20.50 Billion by 2030, Finds Maximize Market Research

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The Polycarbonate Market size was valued at USD 14.17 Billion in 2023 and the total Polycarbonate revenue is expected to grow at a CAGR of 5.41% from 2024 to 2030, reaching nearly USD 20.50 Billion by 2030. APAC is estimated to contribute 57.34% to the growth of the global market during the forecast period. MMR's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory during the forecast period.

Competitive Landscape

The Polycarbonate Market includes the presence of several global as well as regional key players. A few prominent players that offer Polycarbonate in the market are Mitsubishi Engineering Plastics Corporation, SABIC, Covestro AG, Ningbo Zhetie Daphoon Chemical Co. Ltd, Chi Mei Corporation, LOTTE Chemical Corporation, EXOLON Group GmbH, Trinseo SA, Formosa Chemicals & Fibre Corp., LG Chem, Teijin Limited, Samyang Corporation, Idemitsu Kosan Corporation Limited, Centroplast Engineering Plastics GmbH, Bayer Material Science AG, Royal DSM, Asahi Kasei Chemical Corporation) and others.

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Key Player Offerings

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Market Overview

Growing demand of automotive industry is driving the growth of polycarbonate market globally. Polycarbonate market growth is driven by growing economies and rising consumer demand, especially in emerging economies such as India and China. Moreover, increasing consumer demand is also fuelling the polycarbonate market growth. Polycarbonate blends with various polymers such as ABS, thermoformed PC films and polyester, are witnessing high demand in the industrial sector. Growing demand for these blends is driving the polycarbonate market growth. Industrial applications of polycarbonate are also highly demanded by consumers, thus supporting the growth of the overall polycarbonate market. In the medical field, polycarbonate is used to make devices such as surgical instruments, as well as other surgical alternatives. Other innovative and advanced technologies in the industry, such as sensors, service robots and LED luminaires, are further pushing the growth of the polycarbonate market. The growing demand in North America is driven by the growth of end-use industries such as the automotive industry. Polycarbonate is used in automobiles because of its weight characteristics, as well as its high impact resistance. Growing domestic industry in Europe has driven the polycarbonate market. The region also sees an increase in demand for electronics. 

Segment Overview

MMR has segmented the market based on by Product(Sheets/Films, Fibers, Blends, Tubes and Other Product Types) by Grade( Injection Molding, Extrusion, Others) by Application( Automotive and Transportation, Electricals and Electronics, Construction Applications, Medical, Other Applications) and Region (APAC, Europe, North America, Middle East and Africa, and South America).

The electronics industry is the end-use segment in the polycarbonate market, accounting for more than 47.42% of the polycarbonate market in 2023 (in terms of volume). China is the largest consumer of polycarbonate, with nearly half of its demand (by volume) coming from the country's electrical and electronics sectors. Electrical and electromagnetic equipment slowly moves from expensive to inexpensive materials. China remains a strong and healthy market for electronics manufacturers, thanks to the country's low labor costs and flexible policies.

The demand for spike temperature resistance, high service temperature, ductility and toughness in thin sections, and non-flammability features in the material being used in electrical and electronics has further increased the demand for polycarbonate, since it is capitalized on its collective safety features. Further, polycarbonate materials fulfil quality and safety requirements, such as heat resistance and electrical insulation. This is expected to drive the demand for polycarbonate in electrical and electronics industry, further driving the growth of the polycarbonate market.

Geography Overview

Asia-Pacific dominated the market and accounted for over 57.0% of the global revenue in 2023. The higher share is attributed to the availability of more raw materials and low-cost labour, which attracts manufacturers from various industries. This manufacturer continues to focus its production in the Asia-Pacific region to maximize profitability. In 2024, the value of polycarbonate projects under construction in China is expected to reach USD 1.93 trillion.  The country's central bank could ease the use of liquidity through a less aggressive monetary approach, providing funds for new housing start-ups. The Italian construction sector is expected to grow due to favourable government policies on foreign direct investment (FDI) in manufacturing. Furthermore, government initiatives to invest in energy, residential, commercial and construction sectors are expected to boost the demand for polycarbonate over the forecast period. The growing construction and real estate sector in the country is likely to fuel the demand for furniture, thereby boosting the market growth of polycarbonate during the forecast period.

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Global Polycarbonate Market 2023-2027: Key Highlights

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Polycarbonate Panels Market size was valued at US$ 1.98 Bn. in 2023 and the total Polycarbonate Panels revenue is expected to grow at 5.1% through 2023 to 2030, reaching nearly US$ 2.81 Bn.

Polycarbonate Diols Market size is expected to reach nearly US$ 435.92 Mn. by 2030 with the CAGR of 5% during the forecast period.

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