The global polycarbonate market size reached a volume of 5.08 MMT in 2024. The demand for the product is expected to grow at a CAGR of 3.30% in the forecast period of 2025-2034. By 2034, the polycarbonate market demand is estimated to reach a volume of 7.03 MMT.
The Asia-Pacific is the major supply market, accounting for around 60% of the market share. China’s recent capacity addition is likely to reduce Asia’s polycarbonate import reliance in the coming years. With the growing demand in the region, the capacity is also witnessing an expansion, along with the utilization of the plants to their full potential. The growing electronics industry is majorly driving the demand in the region. There is no cheaper alternative to polycarbonate available in the region, which is propelling the market growth for polycarbonate further. Covestro AG, one of the key players, began to build its new production line for manufacturing polycarbonate films in Thailand in 2018. The production line is expected to expand the capacity for films, thus, expanding the region’s supply to meet the rapidly growing demand.
The Asia-Pacific region is followed by Europe and North America as the other major regional markets for polycarbonate. In both Europe and North America, the demand for polycarbonate is being driven by the growth of the automotive and construction industries. In North America, the rising demand for industrial-grade polycarbonate is driving the consumption of the product, which is used in the automotive and electronics sectors. While the region is a net exporter of the substance, North America also imported from South Korea due to domestic supply constraints
In Europe, construction is the leading application sector for polycarbonate, with roofing, windows, and partition walls accounting for over three-fourths of its applications in the construction industry. The medical industry is also contributing to the demand in Europe. The region is a net importer of the product, and the market is supported by the capacity expansions taking place within the Asia-Pacific region. South Korea is a leading exporter of polycarbonates to the region. The supply in Europe is also expected to improve in the coming years with planned capacity additions.
Blends of polycarbonate with different polymers, namely, ABS, thermoformed PC films, and polyester, are witnessing a rising demand across industrial sectors. The growing demand for these blends is providing an impetus to the polycarbonate market growth. The industrial-grade polycarbonates are also being increasingly demanded by the consumers, thus, aiding the overall growth of the polycarbonate market. Polycarbonates are being used in the medical industry for making appliances like a surgical instrument, as well as other substitutes used in surgeries. Other new and advanced technologies in the industry, like sensors, service robots, and LED luminaires, are pushing the polycarbonate market growth further.
The growing demand in North America is due to the growth of the end-use industries like the automobiles sector. Polycarbonate is used in automobiles due to its lightweight feature, as well as high impact resistance. In Europe, the polycarbonate market is significantly driven by the growing household industry. The region is also witnessing an increasing demand from the electronics industries.
Trinseo S.A.
Trinseo S.A., founded in 2010 and headquartered in Pennsylvania, United States, is a speciality materials company that serves various sectors, including consumer goods, buildings and construction, mobility, and medical, among others. Its business segments include polystyrene, engineered materials, latex binders, and plastics solutions. In 2023, the company generated net sales of USD 3.7 billion.
Other key players in the polycarbonate market are Mitsubishi Chemical Corporation, and Formosa Plastics Corporation, among others.
The Asia-Pacific is the major supply market, accounting for around 60% of the market share. China’s recent capacity addition is likely to reduce Asia’s polycarbonate import reliance in the coming years. With the growing demand in the region, the capacity is also witnessing an expansion, along with the utilization of the plants to their full potential. The growing electronics industry is majorly driving the demand in the region. There is no cheaper alternative to polycarbonate available in the region, which is propelling the market growth for polycarbonate further. Covestro AG, one of the key players, began to build its new production line for manufacturing polycarbonate films in Thailand in 2018. The production line is expected to expand the capacity for films, thus, expanding the region’s supply to meet the rapidly growing demand.
The Asia-Pacific region is followed by Europe and North America as the other major regional markets for polycarbonate. In both Europe and North America, the demand for polycarbonate is being driven by the growth of the automotive and construction industries. In North America, the rising demand for industrial-grade polycarbonate is driving the consumption of the product, which is used in the automotive and electronics sectors. While the region is a net exporter of the substance, North America also imported from South Korea due to domestic supply constraints
In Europe, construction is the leading application sector for polycarbonate, with roofing, windows, and partition walls accounting for over three-fourths of its applications in the construction industry. The medical industry is also contributing to the demand in Europe. The region is a net importer of the product, and the market is supported by the capacity expansions taking place within the Asia-Pacific region. South Korea is a leading exporter of polycarbonates to the region. The supply in Europe is also expected to improve in the coming years with planned capacity additions.
Key Trends and Developments
Rising demand for electric vehicles (EVs); surging use of polycarbonate in packaging; growing emphasis on sustainability; and technological advancements and innovations are favouring the polycarbonate market expansion.November 2024
Deepak Chem Tech Limited (DCTL) approved an undertaking project for manufacturing Polycarbonate resins at Dahej, Gujarat, to produce 165,000 metric tonnes. The project, expected to be commissioned by the fourth quarter of FY 2028, aims to capitalise on India’s growing demand for high quality engineering polymers.October 2024
SABIC introduced its latest polycarbonate, LNP™ ELCRES™ CXL polycarbonate (PC) copolymer resins featuring exceptional chemical resistance. The resins are ideal for customers in the infrastructure, mobility, electronics, and industrial sectors and address increased exposure to harsh chemicals causing premature failing and cracking.March 2024
Covestro finished its first plant for polycarbonate copolymers to produce high-quality plastics on an industrial scale at its Antwerp site in Belgium. The new production process offers a broad portfolio of material innovations and enables the company to produce and launch new polymer materials on a faster industrial scale.September 2023
SABIC and SINOPEC announced the commercial operation of a new polycarbonate (PC) plant at their 50-50 joint venture (JV) - SINOPEC SABIC Tianjin Petrochemical Co. Ltd. (SSTPC). The plant boasts an annual designed capacity of 260 kT and is a vital component of SABIC’s PC growth strategy in China. Through this, the company aims to target PC-related sectors, such as consumer goods and appliances, electricals and electronics, healthcare, automotive, and building and construction, among others.Growing demand for electric vehicles (EVs)
Due to its lightweight properties and high-impact resistance, polycarbonate is used in electric vehicles to extend their driving range and battery life, improve driving experience, and enhance vehicle and occupant safety during collisions. The transparency, design flexibility, and mouldability of polycarbonate are surging the creation of aesthetically pleasing and modern EVs.Increasing use of polycarbonate in packaging
Polycarbonate, boasting excellent impact resistance and durability, is increasingly used in durable and robust packaging in sectors such as food and beverages, electronics, and pharmaceuticals to protect content from damage during handling and transportation. Besides, the high-strength, transparency, and premium appearance of polycarbonate are boosting its demand in packaging high-end luxury goods, pharmaceuticals, and cosmetics.Rising emphasis on sustainability
The growing emphasis on sustainability is shaping the polycarbonate market trends and dynamics. Key players are developing bio-based polycarbonate by utilising renewable feedstocks like plant-based materials to reduce the reliance on fossil fuels. Moreover, the rising adoption of circular economy models is leading to the development of advanced recycling technologies for reusing and recycling polycarbonate.Technological advancements and innovations
Advancements in material science are leading to the creation of more durable and stronger polycarbonate formulations with improved heat and impact resistance. In addition, technological advancements and innovations are expected to the development of customised formulations of polycarbonate that offer varying levels of heat resistance, strength, clarity, and chemical resistance.Market Segmentation
Polycarbonate, also known as bisphenol A polycarbonate, is a transparent plastic used to make shatter-resistant frames and light eyeglass lenses, among other products. Polycarbonates (PCs) refer to a category of carbonate, containing thermoplastic polymers in its chemical structures. Polycarbonates applied in engineering are solid, hard materials, and some grades are optically transparent. These are easily moulded and thermoformed. These properties help them find extensive applications in a wide variety of industries.Market Breakup by Application
- Electrical and Electronics
- Automotive
- Construction
- Optical Media
- Packaging
- Consumer
- Medical
Market Breakup by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Polycarbonate Industry Analysis
The growing demand from the automobiles industry is driving the polycarbonate market growth across the globe. The polycarbonate industry growth is also aided by the growing economies and the rising disposable of consumers, especially in emerging economies like India, China, and others. Moreover, the increasing demand for consumer goods is also providing a push to polycarbonate market growth.Blends of polycarbonate with different polymers, namely, ABS, thermoformed PC films, and polyester, are witnessing a rising demand across industrial sectors. The growing demand for these blends is providing an impetus to the polycarbonate market growth. The industrial-grade polycarbonates are also being increasingly demanded by the consumers, thus, aiding the overall growth of the polycarbonate market. Polycarbonates are being used in the medical industry for making appliances like a surgical instrument, as well as other substitutes used in surgeries. Other new and advanced technologies in the industry, like sensors, service robots, and LED luminaires, are pushing the polycarbonate market growth further.
The growing demand in North America is due to the growth of the end-use industries like the automobiles sector. Polycarbonate is used in automobiles due to its lightweight feature, as well as high impact resistance. In Europe, the polycarbonate market is significantly driven by the growing household industry. The region is also witnessing an increasing demand from the electronics industries.
Competitive Landscape
Key polycarbonate market players are focusing on the development of speciality polycarbonate grades for use in sectors such as electronics, automotive, and construction. Polycarbonate companies are also incorporating nanotechnology into polycarbonate materials to enhance their strength, wear and tear resistance, and thermal stability.Covestro AG
Covestro AG, established in 2015 and headquartered in Leverkusen, Germany, is a prominent manufacturer of high-quality polymer materials and components. The company offers innovative processes, methods, and products to enhance sustainability. It serves various sectors, including building and living, mobility, and electrical and electronics. In FY 2023, the company generated sales of EUR 14.4 billion.SABIC
SABIC, founded in 1976 and headquartered in Riyadh, Saudi Arabia, is one of the largest chemical and petrochemical manufacturers in the world. The company’s products and services are used in various sectors such as packaging, hygiene and healthcare, consumer products, electrical and electronics, building and construction, and packaging, among others. Boasting 31,000 employees and serving customers in more than 140 countries, the company boasts 11,000 patents and pending applications.Teijin Limited
Teijin Limited, established in 1918 and headquartered in Tokyo, Japan, is a technology company that serves segments in two businesses, including healthcare solutions and high-performance materials. It comprises 170 companies and employs 20,000 people in 20 countries. In the fiscal year ending in March 2024, the company posted consolidated sales of JPY 1.03 trillion.Trinseo S.A.
Trinseo S.A., founded in 2010 and headquartered in Pennsylvania, United States, is a speciality materials company that serves various sectors, including consumer goods, buildings and construction, mobility, and medical, among others. Its business segments include polystyrene, engineered materials, latex binders, and plastics solutions. In 2023, the company generated net sales of USD 3.7 billion.
Other key players in the polycarbonate market are Mitsubishi Chemical Corporation, and Formosa Plastics Corporation, among others.
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Polycarbonate Market Size Analysis
6 North America Polycarbonate Market Analysis
7 Europe Polycarbonate Market Analysis
8 Asia-Pacific Polycarbonate Market Analysis
9 Latin America Polycarbonate Market Analysis
10 Middle East and Africa Polycarbonate Market Analysis
11 Market Dynamics
13 Trade Data Analysis ( HS Code- 39740)
14 Price Analysis
15 Procurement Insights
16 Competitive Landscape
Companies Mentioned
The key companies featured in this Polycarbonate market report include:- Covestro AG (OTCMKTS: COVTY)
- SABIC
- Teijin Limited
- Mitsubishi Chemical Corporation
- Formosa Chemicals & Fibre Corporation
- Trinseo S.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 166 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value in 2025 | 5.08 MMT |
| Forecasted Market Value by 2034 | 7.03 MMT |
| Compound Annual Growth Rate | 3.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
