Global Polycarbonate demand has witnessed robust growth in the past and is anticipated to grow at a healthy CAGR of 5.4% during the forecast period.
Polycarbonate (PC) is a high-performance engineering thermoplastic possessing wide range of characteristics such as outstanding toughness, thermal resistivity and transparency. Manufacturers use Polycarbonate granules, resins or composite materials in a wide range of products such as automobiles (where it is used in passenger compartment and vehicle lighting), in buildings (for making roof structures etc.) and also used in plethora of electrical and electronic devices such as cords, laptop cases etc. Possessing less than half of the weight of a glass, Polycarbonate is easy to handle, giving designers flexibility to work upon functional and aesthetic designs and introduce innovations in all aspects of automotive lighting. These factors are likely to support the structurally sound demand for Polycarbonate in the foreseeable future.
The automotive industry is the key end user of Polycarbonate, wherein it is used for the production of lightweight exterior and interior parts. Due to its diverse properties, PC enable automakers to incorporate sleek curves and desirable designs for automobiles while reducing the weight of its components by up to half a percentage. The major exterior automotive applications served by polycarbonates and polycarbonate blends include automotive glazing, panoramic roof panels, backlights, and side windows. Incredibly growing consumer demand for trendy automotive designs formulated with component functionality besides maintaining its luxurious appearance would boost the demand for Polycarbonate in the forecast period. Due to its high impact and shatter resistance, Polycarbonate is also used in electronic devices such as cell phones, computers, electrical chargers, gaming systems, battery boxes, optical plates and others. Growing demand for more innovative and technologically advanced gadgets will further support the market growth in the upcoming years.
Regionally, the global Polycarbonate market has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. As of 2019, the market is dominated by Asia-Pacific owing to its aggressively growing electrical & electronics industry coupled with the increased consumer spending on electronic goods. In APAC region, China holds the largest market share on the country-level market, accounting for more than 30% share of the global market due to its increasingly expanding electronics sector.
However, sudden outbreak of COVID-19 has created a great shift in the Polycarbonate consumption patterns across several parts of globe. Expanse of the pandemic across several economies, has weighed over the demand of Polycarbonate especially from the automotive sector as the manufacturing units remained largely shut or operated at reduced rates due to limited buying. Leading Polycarbonate players recorded huge decline in 2020’s first and second quarterly sales, hit by the double whammy as lack of exports from several consumer countries further affected their businesses. Leading Polycarbonate giant, Covestro’s financials showed a sharp drop in core volumes by 22.7% year-on-year from April to June due to a great slump in demand from its consumers in the automotive industry and electronics industry. However, players took a sigh of relief as the slump in automotive demand was to some extent offset by better buying activity from the medical sector. Players reported skyrocketing demand for PC resins used in manufacturing Covid-19 test kits resins and the grades used in the production of ventilators. In addition, the demand outlook was further bolstered by rising demand for clear protective screens across several infected nations. However, with gradual reopening of several economies, the demand from the key PC market driving sector i.e. automotive is likely to restore by the second half of the year.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast Polycarbonate capacity,
production, demand, inventory, and demand–supply gap globally.
• To categorize Polycarbonate demand based on type, end use, region, and distribution channel.
• To identify major customers of Polycarbonate globally.
• To evaluate and forecast Polycarbonate pricing globally.
• To identify and profile major companies operating globally Polycarbonate market.
• To identify major news, deals and expansion plans globally Polycarbonate market.
Some of the major players operating globally in Polycarbonate market are Covestro AG, SABIC, Mitsubishi Engineering-Plastics Corporation, Lotte Chemical Corporation, LG Chem, Formosa Chemicals & Fibre Corp., Teijin Limited, Chi Mei Corporation, Idemitsu Kosan Co. Ltd. (Japan) and others. As of 2019, the top five players account for more than 70% share in the global market, in terms of production capacities. Visualizing future growth prospects of the Polycarbonate industry, the manufacturers are also investing in latest technological advancements for the product manufacturing. SABIC has recently entered into an agreement for setting up the world’s first Polycarbonate facility in Spain which will run entirely on renewable power. The plant is expected to turn operational by 2024 and is expected to help SABIC reach it's 2025 clean energy target.
The global Polycarbonate market has seen an unprecedented downturn due to lackluster demand as a result of the pandemic, with high feedstock Bisphenol A (BPA) prices leading to eroded margins between BPA and PC spread for producers. However, with gradual recovery in the economy and pickup from demand side, Polycarbonate prices are likely to regain the uptrend in the next few quarters. Polycarbonate prices were assessed at USD XX per MT on bulk contract basis. CIF China prices hovered between $2300-1950 per tonne CFR China in May and June this year on the back of weak market sentiments.
To extract data for Global Polycarbonate market, primary research surveys were conducted with Polycarbonate manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for Global Polycarbonate market over the coming years.
ChemAnalyst calculated Polycarbonate demand globally by analyzing the historical data and demand forecast which was carried out considering imported styrene prices, a monomer used for production of 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 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 manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Polycarbonate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Market, by Type
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Sheets and Films, Fibers, Blends, and Others
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Market, by End Use
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Automotive, Construction, Electrical and Electronics, Construction, Medical and Others
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Market, by Distribution Channel
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Direct/Institutional Sales, Retail Sales, Other Channel Sales
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Market, by Region
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North America, APAC, Europe, MEA, South America
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Market, by Region
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North America
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United States, Mexico, Canada
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APAC
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China, India, Japan, South Korea, Singapore, Indonesia, Thailand
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Europe
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Germany, Russia, France, United Kingdom, Spain, Italy
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MEA
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Saudi Arabia, UAE, South Africa
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South America
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Brazil, Argentina, Chile
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Competitive Landscape
ChemAnalyst offers detailed analysis of major players including basic company details, Segmental/product information, financial matrices, growth strategies, expansion plans, collaborations, SWOT analysis etc.to give a comprehensive and meaningful insights on the respective product market.
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