Polycarbonate Market is Booming Worldwide | Entec Polymers, RTP Company, LG Chem, Trinseo
Published Via 11Press : According to HTF MI, The “Global Polycarbonate Market: Industry Trends, Size, Growth, Share, Opportunity and Forecast 2023-2029” From 2023 to 2028, the global polycarbonate market is projected to expand at a compound annual growth rate (CAGR) of 6.3%, growing from USD 20.2 billion in 2023 to USD 36.8 billion in 2028.
Polycarbonate is a tough thermoplastic polymer that has several applications. It’s a transparent, amorphous material known for its high optical clarity, impact resilience and heat resistance. Polycarbonate is suitable for usage in the electrical and electronics sectors because of its high electrical insulating characteristics. It can be readily molded and formed into a variety of forms, allowing for complicated patterns and personalization. Polycarbonate is used in a variety of items, including vehicle components, electrical enclosures, consumer electronics, building materials, packaging, and medical equipment. The polycarbonate market is distinguished by the wide range of end-use sectors it serves, as well as the growing need for lightweight, robust, and ecologically friendly materials. Polycarbonate is becoming a more popular material choice due to developments in processing processes and the development of increased features like UV resistance and flame retardance.
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Key and Developing Players,
- Entec Polymers
- RTP Company
- LG Chem
- Teijin Industries
- Mitsubishi Engineering Plastics
- Trinseo
- Idemitsu Kosan
- Lone Star Chemical
- Chi Mei
- Covestro
- SABIC
- Lotte Chem
Market Drivers
- The market is expanding because of the increased need for strong, lightweight materials in a range of industries, including construction, electronics, automotive, and packaging.
- Polycarbonate is an excellent choice for these applications due of its high strength-to-weight ratio, impact resistance, and heat resistance.
- Another driver of polycarbonate use in the building sector is increased awareness of, and rules governing, energy efficiency and sustainability.
- Polycarbonate sheets and panels are utilized in energy-efficient building designs to provide insulation, natural light transmission, and UV protection.
- Polycarbonate is also in great demand in the burgeoning electronics sector, particularly in consumer electronics and electrical equipment, because to its electrical insulating characteristics, flame resistance, and simplicity of manufacture.
- Furthermore, the automobile industry’s emphasis on lightweight and enhanced safety features drives demand for polycarbonate in interior and exterior components.
- Furthermore, technical advancements in polycarbonate manufacturing help market expansion by improving optical characteristics and increasing chemical resistance.
Market Trend
- Polycarbonate roofing sheets are being employed in an increasing number of residential and commercial building projects.
- Because of its remarkable transparency, resilience, and lightweight, polycarbonate sheets are a popular choice for roofing applications.
- Polycarbonate goods with UV protection coatings are likewise in high demand.
- These coatings improve the material’s resistance to UV radiation damage, preventing degradation and yellowing over time and extending product life.
- Furthermore, there is a market trend towards low-maintenance polycarbonate goods.
- Polycarbonate materials need less maintenance in situations where accessibility is difficult or time-consuming, reducing the need for regular cleaning, painting, or repairs.
- Additionally, efforts are being made to develop innovative polycarbonate formulations with enhanced properties to meet the industry’s shifting expectations, such as increased impact resistance, optical clarity, and chemical resistance.
Market Challenges
- The market is influenced by raw material cost fluctuations, such as the price of petrochemical feedstocks, which can affect manufacturers’ overall production costs and profit margins.
- Alternative materials with equivalent properties and usability, such as glass, acrylic, and other technical plastics, pose additional market challenges.
- Manufacturers must continuously create new polycarbonate compositions and production ways to remain competitive.
- Furthermore, the consequences of the COVID-19 pandemic on logistics, supply chain, and overall market demand pose challenges for production, distribution, and market stability.
- Furthermore, the polycarbonate industry has difficulties in integrating the material with other materials or components.
- Technically, owing to the material’s unique properties and compatibility, attaching polycarbonate to various materials such as metals, glass, or other polymers can be difficult.
Regulatory Insights:
- The European Standard EN 13501-1: Fire classification of construction goods and building elements specifies the testing methodologies for assessing and classifying a material’s fire resistance.
- The material must be tested at an authorized laboratory in the same way that it will be put in a building, according to the standard, which applies to all construction items.
On 7th December 2022, “According to two persons acquainted with the issue, Advent International purchased Saudi Basic Industries Corporation’s (2010. SE) (SABIC) polycarbonate sheets business. The purchase is an add-on acquisition for Advent’s existing portfolio company Roehm, with which the company intends to establish a multi-polymer business.”
On 27th July 2021, “SABIC introduced ISCC-certified polycarbonate film and sheet derived from sustainable feedstock. The new film and sheet product offering complements the company’s current TRUCIRCLE program and answers to a rising worldwide need for further sustainable material options in an increasingly circular plastics industry.”
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Polycarbonate Market Segmentation:
Market Breakdown by Applications:
- Sheets & Films
- Fibers
- Blends
- Tubes
Market Breakdown by Types:
- Automotive and Transportation
- Electrical and Electronics
- Construction
- Packaging
- Consumer Goods
- Optical Media
- Others
Report Scope
| The Market size value in 2023 | USD 20.2 Billion |
| Revenue Forecast by 2033 | USD 36.8 Billion |
| Growth Rate | CAGR Of 6.3% |
| Regions Covered | North America, the Middle East and Africa, Latin America, Europe, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Competitive Landscape:
The competitive climate of the industry is thoroughly explored in addition to examining the profiles of the major competitors in the polycarbonate market. Some of the players profiled are RTP Company, Entec Polymers, Teijin Industries, LG Chem, Mitsubishi Engineering Plastics Corp., Idemitsu Kosan Co. Ltd., Trinseo, Lone Star Chemical, Covestro, Chi Mei Corporation, SABIC, Lotte Chem.
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Key highlights of the report:
📝 Polycarbonate Market Performance (2018-2022)
📝 Polycarbonate Market Outlook (2023-2028)
📝 Polycarbonate Market Trends
📝 Polycarbonate Market Drivers and Success Factors
📝 SWOT Analysis
📝 Value Chain Analysis
📝 Detailed competitive landscape
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