The polycarbonate market size has grown strongly in recent years. It will grow from $22.82 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to the expansion of the automotive industry, the boom in consumer electronics, adherence to environmental regulations, applications in medical devices, involvement in building and construction projects, and the demand from the aerospace industry.
The polycarbonate market size is expected to see strong growth in the next few years. It will grow to $30.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to the emergence of sustainable and bio-based polycarbonates, an increasing demand in electronics, the growth of the electric vehicle market, the applications of LED lighting, and the expanding utilization of 3D printing. Key trends expected in the forecast period include advancements in processing technologies, the development of anti-reflective coatings, electronics miniaturization, integration into smart buildings, initiatives for lightweighting in the automotive sector, and collaborations focused on material innovation.
The polycarbonate market is poised for growth, driven by the increasing demand for electric vehicles (EVs). Polycarbonate, renowned for its lightweight properties, high impact resistance, and optical clarity, is a preferred material in EVs. The rise in EV popularity is attributed to their environmental benefits and is reflected in global sales, which nearly doubled to 6.6 million in 2021 compared to 2020, reaching a total of 6.5 million electric vehicles on the road, as reported by the International Energy Agency. The application of polycarbonate in EVs enhances safety, improves energy efficiency, and allows for design flexibility, making it a pivotal factor in the market's growth.
The global surge in building and construction activities is a significant contributor to the polycarbonate market. Polycarbonate's lightweight, durable, and transparent properties make it an ideal material for various applications in construction, including roofing, skylights, windows, and cladding. Notably, the U.S. construction industry experienced growth, with its size increasing from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022, according to a 2022 report by the Bureau of Economic Analysis. The ongoing building and construction projects worldwide are anticipated to propel the polycarbonate market further.
Innovation is a key trend shaping the polycarbonate market, with major companies dedicated to developing cutting-edge solutions. Essentium Inc., a U.S.-based chemical manufacturing company, introduced Essentium Altitude in May 2023 - a groundbreaking polycarbonate material designed to withstand extreme cold temperatures, reaching as low as -60°C. This innovation opens up new possibilities for utilizing 3D printing in outdoor and high-altitude applications across industries such as aerospace, automotive, cold storage, maintenance, and construction. The introduction of Essentium Altitude reflects the market's commitment to advancing materials for diverse and challenging environments.
Leading companies in the polycarbonate market are strategically partnering to address sustainability concerns, particularly in recycling post-industrial used plastics, including polycarbonates. Covestro AG, a Germany-based polycarbonate manufacturer, joined forces with HASCO Vision Technology Co. Ltd., a China-based automotive lighting systems company, in November 2022. This strategic partnership aims to recover used plastics from HASCO's manufacturing sites and transform them into high-quality post-industrial recycled (PIR) polycarbonates and polycarbonate blends. Such collaborations demonstrate the industry's commitment to sustainable practices.
In December 2021, Palram Industries Ltd., an Israel-based manufacturer of thermoplastic sheets, panel systems, and finished products, acquired Tuflite Polymers Limited. This acquisition enhances Palram Industries' position and market reach across diverse geographical regions. Tuflite Polymers Limited, an India-based building material company, specializes in manufacturing polycarbonate, PMMA (Acrylic), and PVC sheets. The acquisition is a strategic move to strengthen Palram Industries' presence in the polycarbonate market.
Major companies operating in the polycarbonate market report are BASF SE, The Idemitsu Kosan Company Ltd., Saudi Arabia's Basic Industries Corporation (SABIC), LG Chem Ltd., Wanhua Chemical Group Co Ltd., Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Lotte Chemical Corporation, Formosa Chemicals & Fibre Corporation, Royal DSM NV, Teijin Limited, Kuraray Co. Ltd., Excelite Plastic Limited, Trinseo S.A., UBE Corporation, Sumitomo Bakelite Co. Ltd., Chi Mei Corporation, 3A Composites GmbH, Mitsubishi Engineering-Plastics Corporation, RTP Company Inc., Plaskolite LLC, Palram Industries Ltd., King Plastic Corporation, Polyplastics Co. Ltd., Isik Plastik Sanayi Ve Dis Ticaret Pazarlama A.S., Bayer Material Science LLC, Centroplast Engineering Plastics GmbH, Verzatec, Suzhou Omay Optical Materials Co. Ltd.
Asia-Pacific was the largest region in the polycarbonate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the polycarbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the polycarbonate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Polycarbonates are available in various forms, including foil, strips, sheets, film, plates, tubes, fibers, and others. The general-purpose grade represents a standard formulation that strikes a balance among properties, offering good impact resistance, transparency, and dimensional stability. This versatility makes it suitable for application in diverse industries. The processing technologies involved encompass injection molding and extrusion. Different grades, such as general-purpose grade, flame retardant grade, PC alloyed grade, medical grade, food grade, among others, find application in various industries such as transportation, electrical and electronics, construction, packaging, consumer goods, optical media, medical devices, and more.
The polycarbonate market research report is one of a series of new reports that provides polycarbonate market statistics, including polycarbonate industry global market size, regional shares, competitors with a polycarbonate market share, detailed polycarbonate market segments, market trends and opportunities, and any further data you may need to thrive in the polycarbonate industry. This polycarbonate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polycarbonate market consists of sales of clear polycarbonate, abrasion-resistant polycarbonate, mirrored polycarbonate, anti-static polycarbonate, and more. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The polycarbonate market size is expected to see strong growth in the next few years. It will grow to $30.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to the emergence of sustainable and bio-based polycarbonates, an increasing demand in electronics, the growth of the electric vehicle market, the applications of LED lighting, and the expanding utilization of 3D printing. Key trends expected in the forecast period include advancements in processing technologies, the development of anti-reflective coatings, electronics miniaturization, integration into smart buildings, initiatives for lightweighting in the automotive sector, and collaborations focused on material innovation.
The polycarbonate market is poised for growth, driven by the increasing demand for electric vehicles (EVs). Polycarbonate, renowned for its lightweight properties, high impact resistance, and optical clarity, is a preferred material in EVs. The rise in EV popularity is attributed to their environmental benefits and is reflected in global sales, which nearly doubled to 6.6 million in 2021 compared to 2020, reaching a total of 6.5 million electric vehicles on the road, as reported by the International Energy Agency. The application of polycarbonate in EVs enhances safety, improves energy efficiency, and allows for design flexibility, making it a pivotal factor in the market's growth.
The global surge in building and construction activities is a significant contributor to the polycarbonate market. Polycarbonate's lightweight, durable, and transparent properties make it an ideal material for various applications in construction, including roofing, skylights, windows, and cladding. Notably, the U.S. construction industry experienced growth, with its size increasing from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022, according to a 2022 report by the Bureau of Economic Analysis. The ongoing building and construction projects worldwide are anticipated to propel the polycarbonate market further.
Innovation is a key trend shaping the polycarbonate market, with major companies dedicated to developing cutting-edge solutions. Essentium Inc., a U.S.-based chemical manufacturing company, introduced Essentium Altitude in May 2023 - a groundbreaking polycarbonate material designed to withstand extreme cold temperatures, reaching as low as -60°C. This innovation opens up new possibilities for utilizing 3D printing in outdoor and high-altitude applications across industries such as aerospace, automotive, cold storage, maintenance, and construction. The introduction of Essentium Altitude reflects the market's commitment to advancing materials for diverse and challenging environments.
Leading companies in the polycarbonate market are strategically partnering to address sustainability concerns, particularly in recycling post-industrial used plastics, including polycarbonates. Covestro AG, a Germany-based polycarbonate manufacturer, joined forces with HASCO Vision Technology Co. Ltd., a China-based automotive lighting systems company, in November 2022. This strategic partnership aims to recover used plastics from HASCO's manufacturing sites and transform them into high-quality post-industrial recycled (PIR) polycarbonates and polycarbonate blends. Such collaborations demonstrate the industry's commitment to sustainable practices.
In December 2021, Palram Industries Ltd., an Israel-based manufacturer of thermoplastic sheets, panel systems, and finished products, acquired Tuflite Polymers Limited. This acquisition enhances Palram Industries' position and market reach across diverse geographical regions. Tuflite Polymers Limited, an India-based building material company, specializes in manufacturing polycarbonate, PMMA (Acrylic), and PVC sheets. The acquisition is a strategic move to strengthen Palram Industries' presence in the polycarbonate market.
Major companies operating in the polycarbonate market report are BASF SE, The Idemitsu Kosan Company Ltd., Saudi Arabia's Basic Industries Corporation (SABIC), LG Chem Ltd., Wanhua Chemical Group Co Ltd., Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Lotte Chemical Corporation, Formosa Chemicals & Fibre Corporation, Royal DSM NV, Teijin Limited, Kuraray Co. Ltd., Excelite Plastic Limited, Trinseo S.A., UBE Corporation, Sumitomo Bakelite Co. Ltd., Chi Mei Corporation, 3A Composites GmbH, Mitsubishi Engineering-Plastics Corporation, RTP Company Inc., Plaskolite LLC, Palram Industries Ltd., King Plastic Corporation, Polyplastics Co. Ltd., Isik Plastik Sanayi Ve Dis Ticaret Pazarlama A.S., Bayer Material Science LLC, Centroplast Engineering Plastics GmbH, Verzatec, Suzhou Omay Optical Materials Co. Ltd.
Asia-Pacific was the largest region in the polycarbonate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the polycarbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the polycarbonate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Polycarbonates are available in various forms, including foil, strips, sheets, film, plates, tubes, fibers, and others. The general-purpose grade represents a standard formulation that strikes a balance among properties, offering good impact resistance, transparency, and dimensional stability. This versatility makes it suitable for application in diverse industries. The processing technologies involved encompass injection molding and extrusion. Different grades, such as general-purpose grade, flame retardant grade, PC alloyed grade, medical grade, food grade, among others, find application in various industries such as transportation, electrical and electronics, construction, packaging, consumer goods, optical media, medical devices, and more.
The polycarbonate market research report is one of a series of new reports that provides polycarbonate market statistics, including polycarbonate industry global market size, regional shares, competitors with a polycarbonate market share, detailed polycarbonate market segments, market trends and opportunities, and any further data you may need to thrive in the polycarbonate industry. This polycarbonate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polycarbonate market consists of sales of clear polycarbonate, abrasion-resistant polycarbonate, mirrored polycarbonate, anti-static polycarbonate, and more. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Table of Contents
1. Executive Summary2. Polycarbonate Market Characteristics3. Polycarbonate Market Trends and Strategies32. Global Polycarbonate Market Competitive Benchmarking33. Global Polycarbonate Market Competitive Dashboard34. Key Mergers and Acquisitions in the Polycarbonate Market
4. Polycarbonate Market - Macro Economic Scenario
5. Global Polycarbonate Market Size and Growth
6. Polycarbonate Market Segmentation
7. Polycarbonate Market Regional and Country Analysis
8. Asia-Pacific Polycarbonate Market
9. China Polycarbonate Market
10. India Polycarbonate Market
11. Japan Polycarbonate Market
12. Australia Polycarbonate Market
13. Indonesia Polycarbonate Market
14. South Korea Polycarbonate Market
15. Western Europe Polycarbonate Market
16. UK Polycarbonate Market
17. Germany Polycarbonate Market
18. France Polycarbonate Market
19. Italy Polycarbonate Market
20. Spain Polycarbonate Market
21. Eastern Europe Polycarbonate Market
22. Russia Polycarbonate Market
23. North America Polycarbonate Market
24. USA Polycarbonate Market
25. Canada Polycarbonate Market
26. South America Polycarbonate Market
27. Brazil Polycarbonate Market
28. Middle East Polycarbonate Market
29. Africa Polycarbonate Market
30. Polycarbonate Market Competitive Landscape and Company Profiles
31. Polycarbonate Market Other Major and Innovative Companies
35. Polycarbonate Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Polycarbonate Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on polycarbonate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for polycarbonate? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Foil; Strips; Sheets; Film; Plates; Tubes; Fibers; Other Types
2) By Processing Technology: Injection Molding; Extrusion
3) By Grade: General Purpose Grade; Flame Retardant Grade; PC Alloyed Grade; Medical Grade; Food Grade; Other Grades
4) By Application: Transportation; Electrical and Electronics; Construction; Packaging; Consumer Goods; Optical Media; Medical Devices; Other Applications
Key Companies Mentioned: BASF SE; The Idemitsu Kosan Company Ltd.; Saudi Arabia's Basic Industries Corporation (SABIC); LG Chem Ltd.; Wanhua Chemical Group Co Ltd
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BASF SE
- The Idemitsu Kosan Company Ltd.
- Saudi Arabia's Basic Industries Corporation (SABIC)
- LG Chem Ltd.
- Wanhua Chemical Group Co Ltd
- Sumitomo Chemical Co. Ltd.
- Asahi Kasei Corporation
- Evonik Industries AG
- Covestro AG
- Lotte Chemical Corporation
- Formosa Chemicals & Fibre Corporation
- Royal DSM NV
- Teijin Limited
- Kuraray Co. Ltd.
- Excelite Plastic Limited
- Trinseo S.A.
- UBE Corporation
- Sumitomo Bakelite Co. Ltd.
- Chi Mei Corporation
- 3A Composites GmbH
- Mitsubishi Engineering-Plastics Corporation
- RTP Company Inc.
- Plaskolite LLC
- Palram Industries Ltd.
- King Plastic Corporation
- Polyplastics Co. Ltd.
- Isik Plastik Sanayi Ve Dis Ticaret Pazarlama A.S.
- Bayer Material Science LLC
- Centroplast Engineering Plastics GmbH
- Verzatec
- Suzhou Omay Optical Materials Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 24.22 Billion |
| Forecasted Market Value ( USD | $ 30.16 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
