Polycarbonate Market Growth Factors, Overview, Classification Key Players, Size
Posted by Moin Patni on August 16th, 2018
Polycarbonate Market Introduction: Polycarbonate Market material is used in a wide range of structural, aesthetic, and safety applications, especially in the automotive industry. This material lends itself to innovation in automotive parts and other internal components such as glazing, front-end body panels, and bumper fascia. Moreover, in the electrical and electronics industry, flame retardance and better di-electric properties have led to the use of polycarbonate in a vast number of consumer electronics. This is expected to drive the growth of the market during the forecast period. However, volatile raw materials prices are anticipated to limit growth during the forecast period.
Polycarbonate Market Accounts for a substantial share of the global plastic materials market and its dominance is likely to increase during the forecast period. This can mainly be attributed to the high growth in demand from major end-use industries such as automotive, electronics, and consumer goods. The wide scope of applications for polycarbonate in various flourishing end-use industries such as medical devices, packaging, and construction is fuelling the growth of the market.
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Polycarbonate Market Application: Polycarbonate Market are automotive, aerospace, railways, electronics, construction, and medical, among others. DMC is a chemical intermediate for manufacturing polycarbonate. Polycarbonate as an application accounts for over 50% of the overall DMC consumption. Polycarbonate plastic is a highly versatile type of thermoplastic that is widely used in the automotive and electronics industries, apart from the medical, construction, and agriculture industries. These applications require critical characteristics such as light weight, high durability, and better heat and tear resistance, and easy process ability. This is most likely to boost the demand for polycarbonate in the automotive and electronics industries.
Polycarbonate Market is a thermoplastic polymer that occurs in a transparent crystalline form. The material exhibits high impact strength and great toughness at low temperatures. In addition to this, it is moisture-resistant, has better heat, electrical and chemical resistance, and exhibits good oxidative and thermal stability. Polycarbonate can be easily processed through the usual injection moulding and extrusion techniques in order to produce components with excellent dimensional stability.
Polycarbonate Market Key Players: Polycarbonate Market are: Covestro (Germany), Teijin Limited (Japan), Mitsubishi Engineering Plastics Corp. (Japan), LG Chemicals (South Korea), EVONIK INDUSTRIES AG (Germany), Formosa (U.S.), Asahi Kasei Chemical Corporation (Japan), Idemitsu Kosan Co. Ltd. (Japan), SABIC (Saudi Arabia), and Bayer AG (Germany), among others.
Polycarbonate Market Regional Analysis: Polycarbonate Market has been studied with respect to five major regions North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. The market in Asia Pacific is estimated to dominate the global market with the largest share. This can be attributed to the rapid industrialization in the region during the past few years, along with favourable government policies and funding for infrastructure and transportation. India, Japan, South Korea, Malaysia, and China are the major contributors to the growth of this regional market. Additionally, changing lifestyles, growing disposable incomes, and shifting consumer trends are favouring the automotive and packaging industries in the region, which may fuel the growth of the regional market.
North America is expected to be the second-largest market, with the U.S. as the largest country-level market due to a steady rise in the use of polycarbonate materials in reconstruction activities and the automotive and packaging industries. Europe is also a significant market for polycarbonate, with the markets in the U.K., France, Germany, Italy, and Belgium leading the region. The growth of the European market can be attributed to the use of these materials in automotive and other industrial applications. The markets in the Middle East and Africa and Latin America account for a relatively smaller share of the market; however, these markets are likely to grow in the coming years.
Polycarbonate Market Competitive Landscape: Polycarbonate Market is a mature market driven by flourishing growth in construction and automotive industry, along with the flourishing transportation sector. Trinseo, Formosa, Covestro, TEIJIN, SABIC are the major shareholders in this market. Majority of the key market participants are investing in the expansion of their production capacities to strengthen their market position. After addressing dynamic growth in automotive industry, and construction industry experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market. Taking into account these trends, the global polycarbonate market is likely to witness considerable competition over the forecast period of 2017-2023.
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About the AuthorMoin Patni
Joined: February 20th, 2018
Articles Posted: 412
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