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The latest report by IMARC, titled “ Polycarbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028
” finds that the global polycarbonate market reached a value of US$ 10.2 Billion in 2022.
Polycarbonates are a group of transparent amorphous polymers that provide oxidative and thermal stability. They also offer a variety of properties such as moisture resistance, enhanced heat absorption, and resistance to chemicals and electricity. In comparison to thermoplastic polymers, polycarbonates can be readily bent at room temperature through localized heating to reduce stress fracturing.
As a result, they find applications in electronic devices, automotive components, construction materials, and household appliances like TV, power housing, connectors, and battery boxes.
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The market is primarily driven by the significant growth of the electrical and electronics industry. Polycarbonates act as good thermal insulators, due to which they are widely used in the manufacturing of wire insulation and coverings. In the construction industry, polycarbonate sheets are utilized in the production of optical equipment, which, in turn, is fueling the growth of the market. Besides this, the market is positively impacted by the usage of plastics by automotive OEMs to reduce vehicular weight and improve fuel efficiency in automobiles. They can also be easily processed and blended with other resins such as styrene copolymers and PBT to manufacture headlamp lenses, lighting systems, and exterior and interior components.
In addition, the recyclable nature of polycarbonates makes them suitable for utilization in medical devices. Furthermore, technological innovations in the electrical industry, coupled with the increasing production and commercialization of bio-based polycarbonates, are significantly impacting the growth of the market. Looking forward, the market is expected to reach a value of US$ 13.9 Billion by 2028, exhibiting a CAGR of 5.8% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Product Type:
• Sheets and Films
• Fibers
• Blends
• Tubes
• Others
Breakup by Application:
• Automotive
• Electrical and Electronics
• Construction, Sports and Recreational
• Optical Media
• Appliances and Housewares
• Packaging
• Medical and Ophthalmic
• Others
Imports and Exports:
• Import Trends
• Import Breakup by Country
• Export Trends
• Export Breakup by Country
Breakup by Region:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• CHIMEI Corporation
• Covestro AG
• Formosa Chemicals & Fibre Corporation
• Idemitsu Kosan Co. Ltd.
• LG Chem
• Lotte Chemical Corporation
• Mitsubishi Engineering Plastics Corp.
• Saudi Basic Industries Corporation (SABIC)
• Teijin Limited
• Trinseo
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