H1 2023: The key players in the Asia Pacific Polycarbonate market in H1 2023 were Covestro AG, Lotte Chemical, Formosa Chemicals & Fibre Corporation (FCFC). Based on production capacity, Covestro was the Asia Pacific Polycarbonate leader in H1 2023. In March 2023, Covestro, revealed an investment of huge sum of double-digit millions of euros for new manufacturing facilities. The investment will be situated in Thailand's Map Ta Phut Industrial Park and will increase Covestro's capacity and enable it to provide goods primarily used for automobile displays and various electrical and electronic applications. The expansion will be finished in 2025 and create new jobs in the company. The price of polycarbonate in the Asia Pacific area showed a mixed pattern in H1 2023. The demand for polycarbonate was low in the downstream industries including electronics and electricals in January 2023. There was a supply of the material in the Japanese market. Following a declining trend, prices in Asian countries like China and Japan surged in February 2023 as a result of an increase in orders from local marketplaces. Due to the low volume of orders coming in from the foreign market in March 2023, which indicated a decline in demand for polycarbonate, prices fell in several Asian countries in March 2023. In the months of April-June 2023, Polycarbonate prices in China and Japan showed a bearish market attitude with continuously declined prices.
The Asia Pacific Polycarbonate market stood at 2700 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 5.28% during the forecast period until 2032.
The Electrical & Electronics industry is the main factor behind the Polycarbonate Asia Pacific market. Polycarbonate is used in electronic products like cell phones, computers, electrical chargers, gaming boxes, battery covers, and others because of its great impact and shatter resistance. In the approaching years, it is projected that rising consumer desire for increasingly inventive and technologically advanced gadgets would sustain market expansion. Polycarbonate is also employed in the automotive sector to create lightweight exterior and interior components. The special qualities of PC allow automakers to combine svelte curves and appealing designs while cutting the weight of its components by up to half. vehicle glass, panoramic roof panels, and other exterior vehicle applications utilising polycarbonates. In the medical industry, polycarbonate is also utilised to manufacture instruments used in surgery, hemodialysis, drug delivery systems, blood reservoirs, blood filters, etc., which boosts the market for polycarbonate. Owing to these factors, the Asia Pacific Polycarbonate market is estimated to reach nearly 4400 thousand tonnes by the year 2032.
Based on grade, the polycarbonate market in the Asia Pacific region is divided into Injection Molding, Extrusion, Thermoforming and Blow Moldings. However, Injection Molding is the most widely used kind of Polycarbonate. Some key application examples of polycarbonate injection molding includes eyeglasses, medical devices, consumer products, and automotive parts like car headlights.
The Asia Pacific region is dominating the global Polycarbonate market. In 2022, this region held a market share of approximately 65%. In the Asia Pacific region, the Polycarbonate market is divided into China, South Korea, Thailand, Japan, and Rest of APAC. China is one of the world's top producers of consumer electronics. The country's technological development has given local players a boost in the production of consumer electronics which demand for polycarbonate and is likely to bolster the polycarbonate market in the upcoming years.
Based on the end-user industry, the Asia Pacific Polycarbonate market is segmented into Electrical & Electronics, Consumer Products, Automotive & Transportation, Building & Construction, Medical, and Others. Among these, the Electrical & Electronics sector is dominating the Polycarbonate market. The electrical and electronics sectors manufacture a wide range of related equipment using thermoplastic polymers and polycarbonate. Switching relays, sensor parts, LCD screens, connectors, smart phones, and computers are some items produced using polycarbonate because of their physical characteristics like low weight and great impact strength.
Major players in the production of Asia Pacific Polycarbonate are Covestro AG, Lotte Chemical, Formosa Chemicals & Fibre Corporation (FCFC), Mitsubishi Engineering Plastics, Teijin Chemicals Company, LG Chem Limited, Thai Polycarbonate Co., Ltd. (TPCC), Wanhua Chemical, Zhongsha (Tianjin) Petrochemical, Zhejiang Petrochemical, Liaocheng Luxi Polycarbonate, Zhejiang Petrochemical, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polycarbonate which covers production, demand and supply of Polycarbonate market in the globe.
• To analyse and forecast the market size of Polycarbonate
• To classify and forecast Asia Pacific Polycarbonate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polycarbonate market in the globe.
To extract data for Asia Pacific Polycarbonate market, primary research surveys were conducted with Polycarbonate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Polycarbonate market over the coming years.
ChemAnalyst calculated Polycarbonate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce Polycarbonate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polycarbonate manufacturers and other stakeholders
• Organizations, forums and alliances related to Polycarbonate s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polycarbonate s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Polycarbonate s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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2700 thousand tonnes
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Market size Volume by 2035
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4400 thousand tonnes
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Growth Rate
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CAGR of 5.28% from 2023 to 2032
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Base year for estimation
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2023
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Historical Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand by Grade, Demand-Supply Gap, Company Share, Manufacturing Process.
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Segments covered
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By End-Use: (Electrical & Electronics, Consumer Products, Automotive & Transportation, Building & Construction, Medical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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China, South Korea, Thailand, Japan, and Rest of APAC.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com