Europe Polycarbonate (PC) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Upcoming construction projects to boost polycarbonate demand

• Polycarbonate (PC) is used in various applications, such as compact discs, bullet-proof glasses, car headlamp lenses, roofing, and glazing, due to its high impact strength, lightweight property, UV resistance, and optical transmission. In 2022, the European polycarbonate (PC) market accounted for 19% of the global polycarbonate (PC) market in terms of value.
• In 2020, due to the COVID-19 pandemic, the PC market declined by 10.41% in terms of value compared to 2019, attributed to supply chain disruptions, raw material shortages, and the halting of trade exchanges throughout the region. With the resumption of production facilities, the demand for PC resin increased by 19.22% in terms of value in 2021 compared to 2020.
• Automotive and building and construction are the region's largest consumers of PC resin. The region's new construction floor area is expected to reach 9.5 billion sq. ft in 2029 from 7.8 billion sq. ft in 2023. Vehicle production in the region is projected to reach 20.7 million units in 2029 from 18.3 million units in 2023. The region's increasing construction and vehicle production is projected to drive the demand for PC resin over the coming years.
• Aerospace is the region's fastest-growing end-user industry for PC resin, with a projected CAGR of 7.38% in terms of value during the forecast period. The rising trend of high-strength and lightweight materials in the aerospace industry is expected to drive the demand for PC resin in the region. The region's aircraft component production revenue is projected to reach USD 348.8 billion in 2029 from USD 243.2 billion in 2023. The growing production of aerospace components in the region is projected to drive the demand for PC resin.

Automotive production may boost the growth of polycarbonate across the region

• Europe accounted for 19% (by volume) of the global consumption of polycarbonate resin in 2022. Polycarbonate is used in European countries, such as France and Germany, in various industries, including automotive, aerospace, and electrical and electronics. Countries such as Germany, Russia, and Italy are the leading consumers of polycarbonate resin in the region.
• Germany is the largest consumer of polycarbonate in the region due to its growing aerospace, automotive, and electrical and electronics industries. Aircraft components and vehicle production held a share of around 16.9% by revenue and 20.19% by volume in 2021 at the regional level, driving the demand for polycarbonate resin. The growing automotive and electrical and electronics production is expected to drive the demand for polycarbonate resin.
• The demand for polycarbonate resin in Italy is increasing significantly due to growing production in the automotive and electrical and electronics industries. Italy is the European Union's fifth-largest vehicle producer. In 2022, the country produced 1.08 million units, 6.13% (by volume) of the region. The country's electrical and electronics industry is also expanding, and the revenue is projected to amount to USD 17.15 billion in 2023. These factors are expected to drive the demand for polycarbonate resins in Europe during the forecast period.
• The United Kingdom is expected to be the fastest-growing consumer of polycarbonate resin, with a CAGR of 6.19% by revenue during the forecast period (2023-2029). The growth in vehicle production, with the highest CAGR of 3.4% (in volume) in the region, is expected to drive the demand for PC resin in the country.

Europe Polycarbonate (PC) Market Trends

Technological innovations to boost the consumer electronics market

• Europe's electrical and electronics production registered a CAGR of over 3.8% between 2017 and 2021. The rapid pace of electronic technological innovation is driving consistent demand for newer and faster electrical and electronic products. As a result, it has also increased the demand for electrical and electronics production in the region.
• Despite the increased demand for computers and laptops due to remote working and distance learning, the average revenue per user in the European consumer electronics segment dropped by 6.3%. It generated a revenue of around USD 252.1 billion in 2020. As a result, in 2020, the electrical and electronic production in the region decreased by 2.8% by revenue compared to the previous year.
• In 2021, Europe's electrical and electronic equipment exports were around USD 228.37 billion, 12.4% higher compared to 2020. As a result, electrical and electronic production in the region increased and registered 11.6% in 2021 compared to the previous year.​
• Robotics, virtual reality and augmented reality, IoT (Internet of Things), and 5G connectivity are expected to grow during the forecast period. As a result of technological advancements, demand for consumer electronics is expected to rise during the forecast period. The consumer electronics segment in the region is projected to reach a revenue of around USD 157.2 billion in 2027 from USD 121.1 billion in 2023. By 2027, Europe is projected to be the second-largest electrical and electronics production accounting for around 12.7% of the global market. As a result, the rise in consumer electronics is projected to increase the demand for electrical and electronics production in the coming years.

Europe Polycarbonate (PC) Industry Overview

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support