Polycarbonate Market Size to Grow USD 20090 million by 2028 at a CAGR of 4.7% | Valuates Reports
BANGALORE, India, Sept. 28, 2022 /PRNewswire/ -- The Global Polycarbonate Market is Segmented by Type (Bisphenol A Aromatic Polycarbonate, Engineering Plastic Glass Fiber Reinforced Polycarbonate), Application (Electrical And Electronics Segment, Automotive Segment, Construction Segment, Optical Media Segment) Global Opportunity Analysis and Industry Forecast, 2021-2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global Polycarbonate market size is estimated to be worth USD 15230 million in 2022 and is forecast to a readjusted size of USD 20090 million by 2028 with a CAGR of 4.7% during the review period.
Major factors driving the growth of the Polycarbonate Market
Increasing use of Polycarbonates in various end-user industries such as Electrical And Electronics, Automotive, Construction, and Optical Media.
Furthermore, advantages such as Durability, Light transmission, Ease to cut and shape, Lightweight, and UV protection offered by polycarbonates are expected to further increase the polycarbonate market growth.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL POLYCARBONATE MARKET
Solid or multiwall sheets of polycarbonate are often supplied and come in typical sizes and thicknesses ranging from 4 mm to 32 mm. By following the manufacturer's directions, the material may be molded or bent at room temperature and is simple to cut with standard tools. Polycarbonate is primarily used in the electrical and electronic industries to make a variety of items, including plugs, connections, laptop enclosures, mobile phone and tablet cases, television frames, and audio/video components. Thus the increasing use in the electrical and electronic industry is expected to drive the Polycarbonate market.
Due to its high impact strength, transparency, and UV light resistance, polycarbonate is recognized as an appropriate substitute for glass in a variety of glazing applications, including agricultural houses, commercial or public buildings, facades, security windows, shelters, and skylights. This in turn is expected to drive the polycarbonate market growth.
Polycarbonate is utilized to improve vehicle efficiency by lowering weight without compromising durability and increasing the aerodynamics of a vehicle due to its lightweight and transparency. Due to its great heat resistance, it can be used for lenses, headlamp bezels, and light housing. The interior and exterior body sections of an automobile should be made of PC mixes because of their superior creep resistance and rigidity.
Furthermore, the demand for Polycarbonate-intensive Plastic Products increased during the Coronavirus Pandemic. In light of the continuing coronavirus pandemic, medical polycarbonates and other plastic-intensive goods are becoming more significant. This is due to a rise in the demand for IV components and polycarbonate syringes. As a result, the global polycarbonate market is predicted to experience a rapid rise in the revenue of fluid supply and IV connection components.
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POLYCARBONATE MARKET SHARE
Based on type, Bisphenol A Aromatic Polycarbonate is expected to be the most lucrative during the forecast period.
Based on Application, The electrical & electronics application segment is expected to be the most lucrative. When polycarbonate resins are combined with additional polymers like PBT and ABS, the resulting compound's performance at high temperatures and resistance to impacts is improved.
Based on Region, The Asia Pacific is expected to be the most lucrative region. The market is being driven by the booming expansion of industrialization brought on by quickly growing economies like China and India, as well as the high demand for electronics & mobile phones in the region.
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Key Players:
- Asahi Kasei
- Covestro
- Chi Mei
- LG Chem
- Samsung SDI
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- The global Polycarbonate Panels market size is estimated to be worth USD 1472.3 million in 2022 and is forecast to a readjusted size of USD 1828.8 million by 2028 with a CAGR of 3.7% during the review period.
- The global Polyurethane market size is estimated to be worth USD76600 million in 2021 and is forecast to be a readjusted size of USD 97740 million by 2028 with a CAGR of 3.5% during the forecast period 2022-2028.
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