Global Polycarbonate (PC) Resin Market Growth 2024-2030
Polycarbonate (PC) Resin, valued at US$ 20.23 billion in 2023, is expected to reach US$ 20.08 billion by 2030, with a -0.1% CAGR, reflecting evolving market dynamics.
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According to Publisher’s latest study, the global Polycarbonate (PC) Resin market size was valued at US$ 20230 million in 2023. With the growing demand in the downstream market, Polycarbonate (PC) Resin is forecast to a readjusted size of US$ 20080 million by 2030 with a CAGR of -0.1% during the review period.
Market Overview
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The research report highlights the growth potential of the global Polycarbonate (PC) Resin market. Polycarbonate (PC) Resin is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimisation remain crucial for the widespread adoption of Polycarbonate (PC) Resin. Market players must invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalise on the immense opportunities presented by the Polycarbonate (PC) Resin market.
Polycarbonates (PC) are a group of thermoplastic polymers containing carbonate groups in their chemical structures. Polycarbonates used in engineering are strong, tough materials, and some grades are optically transparent. They are easily worked, moulded, and thermoformed. Because of these properties, polycarbonates find many applications.
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Manmayi Raval
Research Consultant
The report on the Polycarbonate (PC) Resin market reflects various aspects and provides valuable insights into the industry.
Market Drivers: Demand in the Automotive Sector: Polycarbonate resin is used in interior and exterior components such as instrument panels, headlight lenses, and bumpers due to the industry's emphasis on lightweight, safety, and design aesthetics.
Electronics & Electrical Applications: Polycarbonate resin's superior electrical insulation and optical clarity drive demand for housings, connections, and optical components as consumer electronics, telecommunications devices, and LED lighting systems proliferate.
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Growth of the Construction Industry: The demand for polycarbonate sheets and panels, which are used in roofing, skylights, and architectural glazing and offer advantages in terms of wearability, durability, and energy efficiency, is being driven by the construction industry's expansion, especially in emerging economies.
Challenges- Raw Material Price Volatility: Changes in the cost of raw materials, especially phosgene and bisphenol-A (BPA), have an effect on the manufacturing costs of polycarbonate resin and make it difficult for producers to keep their profit margins and pricing competitive.
Regulatory worries: Adhering to strict laws and addressing consumer perceptions of health and environmental risks are made more difficult by regulatory scrutiny and public worries over BPA, a crucial raw element in the production of polycarbonate resin.
Competition from Alternative Materials: Polycarbonate resin faces competition in some applications from the availability of alternative materials such as polyesters, acrylics, and engineering thermoplastics. This calls for constant product innovation and differentiation tactics.
Market Forecasts and Future Outlook: Emphasis on the Circular Economy: Investments in recycling technology and closed-loop material cycles are driven by the shift towards circular economy models and sustainable manufacturing practices, which encourages the use of recycled polycarbonate resin and lessens the environmental effect.
Innovation in Material Science: Next-generation polycarbonate resins with improved properties like flame retardancy, UV stability, and biodegradability can be developed to meet a variety of market demands thanks to developments in polymer science, bio-based feedstocks, and additive manufacturing techniques.
Emerging Applications: Driven by technology breakthroughs and market diversification efforts, emerging applications such as 3D printing, optical storage media, and medical devices offer growth prospects for polycarbonate resin makers.
Opportunities: Investing in Sustainable Solutions: Developing recyclable, bio-based, and environmentally friendly polycarbonate resin materials offers chances to stand out in the market and achieve sustainability objectives.
Collaborative Partnerships: By working together, suppliers of raw materials, technology companies, and end users promote innovation, market penetration, and value chain integration, which in turn generates synergies and opens up new business prospects.
Market Growth in Developing Nations: Manufacturers of polycarbonate resin can find growth prospects by entering the rapidly expanding markets of Asia-Pacific, Latin America, and Africa. These markets are being driven by increased disposable incomes, urbanization, and infrastructure development.
Recent developments- In February 2023, Covestro AG unveiled Makrolon 3638 polycarbonate, a polymer designed for use in healthcare and life sciences applications. These applications include wearable technology, drug delivery devices, and single-use containers for the production of biopharmaceuticals. To provide more environmentally friendly solutions, mainly for consumer goods, automotive, and electrical and electronic industries, Covestro AG stated in August 2022 that it will construct its first factory specifically for the mechanical recycling (MCR) of polycarbonates in Shanghai, China. In August 2022, Teijin Limited and Mitsui Chemicals established a joint venture to manufacture and distribute biomass polycarbonate resins throughout Japan.
Market Segmentation:
Polycarbonate (PC) Resin market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of product, phosgene type is the largest segment, with a share of over 60%. In terms of application, the largest application is consumer electronics, followed by construction, automotive, etc.
1. Segmentation by type
• Phosgene
• Non-Phosgene
2. Segmentation by application
• Consumer Electronics
• Automotive
• Construction
• Packaging
• Others
Regional Insights: In the global market, the Asia Pacific region is expanding at the quickest rate. This growth can be ascribed to the expansion of the automotive, construction, and electrical industries in major nations like China, India, and Japan. Furthermore, the region has the fastest population growth, which drives up demand for electrical appliances and electric cars. Furthermore, the product—which comes in sheets and films of various grades—is one of the essential raw materials used in these applications. As a result, these elements are multiplying the regional growth. The rising need for fireproof electrical equipment, which guarantees safety and gives gadgets an aesthetically pleasing performance, is responsible for the rise of the American market. Furthermore, electrical appliances including air conditioners, washing machines, and microwaves are made using PC flame retardant grade. As a result, the region's demand for the commodity is rising.
The expansion of the automobile sector propels the market in Europe. Plastics like PET, PC, and PP are predicted to be consumed at an exponentially higher rate due to the growing need for vehicles such as cars and buses. The product makes headlights, seat coverings, and bumpers for automobiles. Furthermore, the Middle East and Africa market is expanding as a result of a growing number of product producers that have raised local product consumption in the area from end-use applications like electronics and automobiles. China is the largest market, with a share of about 30%, followed by Europe both have a share of about 18 per cent.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Covestro
• SABIC
• Mitsubishi
• Lotte Chemical
• Teijin Limited
• Idemitsu Kosan
• Trinseo
• CHIMEI
• LG Chem
• Samyang Kasei
• Daphoon
• Wanhua Chemical
• Luxi Chemical
• Lihuayi Weiyuan
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Polycarbonate (PC) Resin Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Polycarbonate (PC) Resin by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Polycarbonate (PC) Resin by Country/Region, 2019, 2023 & 2030
2.2 Polycarbonate (PC) Resin Segment by Type
2.2.1 Phosgene
2.2.2 Non-Phosgene
2.3 Polycarbonate (PC) Resin Sales by Type
2.3.1 Global Polycarbonate (PC) Resin Sales Market Share by Type (2019-2024)
2.3.2 Global Polycarbonate (PC) Resin Revenue and Market Share by Type (2019-2024)
2.3.3 Global Polycarbonate (PC) Resin Sale Price by Type (2019-2024)
2.4 Polycarbonate (PC) Resin Segment by Application
2.4.1 Consumer Electronics
2.4.2 Automotive
2.4.3 Construction
2.4.4 Packaging
2.4.5 Others
2.5 Polycarbonate (PC) Resin Sales by Application
2.5.1 Global Polycarbonate (PC) Resin Sale Market Share by Application (2019-2024)
2.5.2 Global Polycarbonate (PC) Resin Revenue and Market Share by Application (2019-2024)
2.5.3 Global Polycarbonate (PC) Resin Sale Price by Application (2019-2024)
3 Global Polycarbonate (PC) Resin by Company
3.1 Global Polycarbonate (PC) Resin Breakdown Data by Company
3.1.1 Global Polycarbonate (PC) Resin Annual Sales by Company (2019-2024)
3.1.2 Global Polycarbonate (PC) Resin Sales Market Share by Company (2019-2024)
3.2 Global Polycarbonate (PC) Resin Annual Revenue by Company (2019-2024)
3.2.1 Global Polycarbonate (PC) Resin Revenue by Company (2019-2024)
3.2.2 Global Polycarbonate (PC) Resin Revenue Market Share by Company (2019-2024)
3.3 Global Polycarbonate (PC) Resin Sale Price by Company
3.4 Key Manufacturers Polycarbonate (PC) Resin Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Polycarbonate (PC) Resin Product Location Distribution
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