Authored By: Sarah
11 Jul 2024

 Polycarbonate Plastic Market Size to grow by USD 5.40 billion between 2024-2028

According to a research report “ Polycarbonate Plastic Market” by End-user (Electrical and electronics, Automotive, Construction, Others) Distribution Channel (Direct sale, Indirect sale) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5.40 billion, at a CAGR of  5.61% during the forecast period. In the business arena, polycarbonate plastics have been experiencing significant growth in various industries, particularly in automotive and electronics. The lightweight, impact-resistant, and design-flexible properties of polycarbonates make them an ideal choice for automotive applications. Furthermore, their exceptional heat resistance and durability have led to increased adoption in the production of electronic components and housings. Electronic devices generate heat, and polycarbonates' excellent thermal properties enable them to maintain their structural integrity and resist deformation at higher temperatures. Additionally, their good optical clarity makes them suitable for applications requiring visibility or light transmission, such as screens, lenses, and display panels. The ease of molding polycarbonates into various shapes and sizes is a significant advantage in the manufacturing of electronic devices, where intricate designs and efficient space utilization are crucial.

Browse market data tables, figures, and in-depth TOC on “Polycarbonate Plastic Market” by End-user (Electrical and electronics, Automotive, Construction, Others) Distribution Channel (Direct sale, Indirect sale) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Electrical and electronics segment is projected to dominate the market size in 2024

In the industrial sector, businesses operating in industries such as automotive, electronics, construction, and healthcare frequently demand substantial quantities of polycarbonate for their production processes. Direct sales channels enable these companies to procure polycarbonate in bulk, catering to their extensive manufacturing requirements. Some businesses may necessitate unique formulations or customized variations of polycarbonate to fulfill their specific needs. Through direct sales, these businesses can engage in negotiations with manufacturers or suppliers to secure customized solutions. Long-term contracts or agreements between manufacturers and industries ensure a consistent supply of polycarbonate at predetermined prices and terms. Direct sales offer additional value-added services, including technical expertise, application guidance, and handling instructions, which can be particularly advantageous for certain industries.

By Distribution Channel, Direct sale  segment is expected to hold the largest market size for the year 2024

In the business realm, the electrical and electronic sectors represent major consumers of polycarbonate plastics. The material's desirable features, including superior impact resistance, optical clarity, heat resistance, and electrical insulation capabilities, render it an ideal choice for various applications within these industries. In electronics manufacturing, polycarbonate is utilized for producing components such as connectors, insulators, and housings for devices like computers, printers, cameras, and mobile phones, as well as in LED lighting due to its transparency and durability. Simultaneously, in the electrical sector, polycarbonate is employed for fabricating electrical enclosures, switchgear components, and power distribution system parts. Its ability to withstand high temperatures and its outstanding electrical insulation properties make it a preferred material for these applications.

APAC is forecasted to hold the largest market size by region in 2024

The APAC region accounted for the largest market share in the global polycarbonate plastic industry in 2023, driven by significant economic growth and increasing demand from key end-user sectors. Notable industries include automotive, construction, aerospace, agriculture, electrical, and electronics. In the automotive sector, the APAC market is experiencing robust growth, particularly in countries such as India, Indonesia, Thailand, and Vietnam. This expansion is fueled by the increasing demand for automobiles, leading automotive manufacturers to increase their usage of polycarbonate plastics, primarily sourced from China, Japan, and India.

The Polycarbonate Plastic Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Chimei Corp.
  • Covestro AG
  • EMCO INDUSTRIAL PLASTICS INC.
  • Ensinger GmbH
  • Guangdong Shunde Polygao Plastic Industrial Co. Ltd
  • Halma Plc
  • Hebei Nuodeer Industrial Co. Ltd
  • Jinan Jinbao Plastic Co. Ltd.
  • Lotte Chemical Corp.
  • MG POLYPLAST INDUSTRIES PVT. LTD.
  • Mitsubishi Gas Chemical Co. Inc.
  • Palram Industries Ltd.
  • Saudi Basic Industries Corp.
  • Shanghai Polyshine Group Co. Ltd.
  • Shenzhen Anheda Plastic Products Co. Ltd 
  • Shivana Polymers LLP.
  • Teijin Ltd.
  • UVPLASTIC Material Technology Co. Ltd 
  • WeProFab
  • WILLIAM 
.

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Research Analysis Overview

The Polycarbonate market is experiencing significant growth due to its versatility and high demand across various industries. The eCommerce industry's surge has led to an increase in the sale of polycarbonate sheets for use in lightweight automotive components, consumer electronics, and digitalization projects. In the medical device industry, polycarbonate resin is used to manufacture medical implants, safety equipment, and other medical devices. The building & construction sector utilizes polycarbonate in extrusion, injection molding, and foam molding processes for the production of roofing, cladding, and insulation materials. The electronics industry relies on polycarbonate for the manufacturing of electronic products, including virtual reality headsets and robotics. The automotive & transportation sector uses polycarbonate in the production of hybrid vehicles and vehicle components due to its lightweight properties. Technological innovation in the automotive industry, such as the development of lightweight and fuel-efficient vehicles, is expected to drive the demand for polycarbonate in the automotive & transportation sector. The consumer goods industry also utilizes polycarbonate in the production of various products, including safety equipment, sports equipment, and household items. The resin's excellent strength-to-weight ratio and resistance to impact make it an ideal material for these applications. Overall, the Polycarbonate market is poised for continued growth due to its wide range of applications and the increasing demand for lightweight, durable, and high-performance materials.

Market Research Overview

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