Press Release

The Global Polycarbonate Market size was valued at USD 19.6 billion in 2021 and is expected to grow by USD 36.7 billion in 2030 at a CAGR of 6.2% during the forecast period.

Polycarbonate is a transparent, durable, and amorphous thermoplastic polymer with great performance. It has high moisture resistance, electrical resistance, and chemical resistance, as well as thermal stability. Furthermore, injection molding and extrusion processes can be used to turn polycarbonate resins into components.    

To fabricate automotive components, polycarbonate resins are heavily mixed with other polymers such as ABS and polyester. PC resins' increased processability through foam molding, injection molding, extrusion, and vacuum forming has given end-users more possibilities for using the resin. Safety equipment and industrial gear are anticipated to see increased demand in the future.  

The pandemic has had a negative impact on new construction and aftermarket because construction operations were first fully shut down but began to reopen in Q3 with COVID-19 operational procedures. Furthermore, construction, automotive & transportation, electrical & electronics, and other end-use industries saw a drop in demand as a result of the Covid-19. Supply chain interruptions hindered the availability of labor and raw materials. Because the economies are now fully open and stable, there is traction in demand from end-use sectors, which is likely to drive demand for polycarbonate. 

During the continuing coronavirus pandemic, medical polycarbonates and other polycarbonate goods have become highly significant. The need for polycarbonate injections and intravenous (IV) equipment has increased. Therefore, the polycarbonate market's revenue for fluid supply and intravenous connection components is expected to expand rapidly. Moreover, innovative medical devices such as plastic face shields are being produced. Researchers at top universities are stepping up their attempts to build disposable face shields and asking polycarbonate manufacturers to mass make them. This development is especially noteworthy because healthcare institutions in the United Kingdom, China, and India have been affected owing to newly reported COVID-19 infections caused by novel variants.       

Governments of several developing countries, such as India, and China are increasing infrastructure development investment, resulting in an increase in building activity in these countries. In the construction sectors, the number of construction projects is directly linked to the need for roofing solutions. The expansion of the polycarbonate market can be ascribed to the growing demand for transparent roofing products in the building and construction industry.   

Asia Pacific holds the largest polycarbonate market share, and it is expected to continue to dominate in the future years, with the highest compound annual growth rate. Some of the primary factors driving the market's growth are growing demand of passenger vehicles in developing nations, growing sales of polycarbonate in the automotive business, and rising disposable income of consumers in the region.   

KEY INDUSTRY DEVELOPMENTS:

In January 2020, Covestro AG agreed to sell its European polycarbonate sheets division to Serafin Group. It consists of production plants in Belgium and Italy, as well as central management operations and European sales support.

In July 2019, Lotte Chemical and GS Energy agreed to spend approximately KRW 800 billion in a large-scale petrochemical industry. The agreement was made to assure a steady supply of polycarbonate materials and to help the C4 oil company flourish.   

Read More Details On This Report : https://extrapolate.com/Chemicals-and-Advanced-Materials/polycarbonate-market/25761