The global Polycarbonate market reached a value of about USD 15.61 billion in 2021. The industry is projected to grow at a CAGR of around 3.4% in the forecast period of 2022-2027 to reach a value of about USD 18.82 billion by 2027.
The global Polycarbonate industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The industry is being propelled by the Polycarbonate material's application in the automotive sector. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
Polycarbonate is polyester composed of phenyl, carbonate, and two methyl groups generated through an interfacial reaction between carbonyl chloride and bisphenol-A. They are solid and resistant materials used in engineering, and specific grades are optically transparent. They're simple to work with, mould, and thermoform. Polycarbonates have a wide range of uses because of their characteristics. Shatter-resistant windows, lightweight eyeglass lenses, packaging, interior cladding, outdoor glazing, roofing designs, automotive, electrical, and electronics, and personal security applications all employ this transparent plastic. It comes in a variety of grades, depending on the application. The Polycarbonate industry report comprises segments by application (Electrical and Electronics, Automotive, Construction, Optical Media, Packaging, Consumer, Medical) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific region holds the largest share in the market due to China's industrial and construction activities. The electronics industry in the area provided a significant thrust to the market. Furthermore, the industry is expanding due to the lack of alternatives of the material available in the region.
The industry is being driven by the growing trend of material employed in the automotive sector. The product is used to create various products in the electrical and electronics industries. Regulatory rules are pushing automakers to adopt plastics to decrease vehicle weight and boost fuel economy, which is helping to drive growth. Other factors such as the widespread use of polycarbonate in the agriculture industry for UV-resistant roof panels and sheets in agricultural outbuildings and extensive research and development (R & R&D) activities to develop high-performance plastics are expected to fuel the market even further. In the future, product improvements for medical applications and the growing commercialisation of the bio-polycarbonate industry are projected to create opportunities for manufacturers.
However, the material's adverse effects on the environment are likely to act as a market restraint.
The global Polycarbonate industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Polycarbonate regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Bisphenol A (BPA) and phosgene COCl2 are used to make the principal polycarbonate substance. The initial step in the synthesis is the treatment of bisphenol A with sodium hydroxide, which deprotonates the hydroxyl groups of bisphenol A. A chloroformate is formed when diphenoxide combines with phosgene, which is then attacked by another phenoxide. Approximately one billion kg of polycarbonate is generated each year in this manner. Bisphenol A has been replaced with a variety of different diols. The comonomer cyclohexane is employed to prevent the BPA-derived product from crystallising. Tetrabromobisphenol A is a fire-resistant compound. As a substitute for BPA, tetramethylcyclobutanediol has been developed. Transesterification of BPA and diphenyl carbonate is an alternate route to polycarbonates.
The market is propelled by the wide range of industries the product finds application in, including Its use as an alternative for PVC in medical devices. Its slight weight and excellent impact strength are also employed in switching relays, sensor components, LCD sections, connections, mobile phones, and computers. Because hollow polycarbonates are excellent thermal insulators, they are commonly used in wire insulation applications in the electrical and electronics industries. In the manufacture of optical discs such as CDs, DVDs, and Blu-ray Discs, polycarbonate sheet is the most used material. Various technical breakthroughs, such as the development of augmented reality (AR) and virtual reality (VR)-based products, sensors, and drones made of polycarbonates, also contribute to the industry's growth.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The worldwide polycarbonate market is highly concentrated, with just a few significant companies remaining. The top five firms controlled almost 70% of the worldwide market in terms of manufacturing capacity.
1. Executive Summary
2. Global Polycarbonate Market Snapshot
2.1. Polycarbonate Market Outlook
2.2. Polycarbonate Industry Analysis by Application
2.2.1. Electrical and Electronics
2.2.4. Optical Media
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Polycarbonate Value Chain Analysis
5. Polycarbonate Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Polycarbonate Cost Structure
9. Polycarbonate Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Polycarbonate Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry best practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. Covestro AG
15.4. Teijin Limited
15.5. Mitsubishi Engineering-Plastics Corporation
The global Polycarbonate market size was valued at USD 15.61 billion in 2021.
As per the application provided, the Electrical and electronics segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for the material in the manufacturing of various parts in the automotive sector is one of the essential drivers of the Polycarbonate market growth.
Covestro, SABIC, TRINSEO, Teijin, and Mitsubishi are a few of the top players in the market.
The Asia region of the Polycarbonate industry holds a significant share in the market.
The global Polycarbonate market attained a value of USD 15.61 billion in 2021, driven by the increasing use of the product in the automotive sector in the manufacturing of various parts. Owing to the multiple properties of the material, it is employed in a wide range of industries, including electronics medical, among others, further augmenting the industry's expansion. Due to the following factors, the market is expected to witness further growth in 2022-2027, growing at a CAGR of 3.4%. The market is projected to reach USD 18.82 billion by 2027.
Procurement Resources’ detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise thus, delivering its customers with market insights that are accurate, actionable, and help them remain ahead of their competition. Some of the leading players in the industry are Epiroc AB, Sandvik AB, Caterpillar Inc., Komatsu Ltd., Liebherr-International Deutschland GmbH, and Hitachi Construction Machinery Co, Ltd.
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