In other words, industries all across are adopting multi-faceted options in this regard. This factor is likely to put the polycarbonate resins market at the top pedestal in the near future. The global polycarbonate resins industry size was worth USD 5.3 Billion in the year 2022 and is expected to reach USD 8.8 Billion by the year 2032 at a CAGR of 5.2% between 2022 and 2032. The last few years have witnessed a considerable demand for materials that are versatile.
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The leading end-use applications of polycarbonate resins include construction glazing, electronic equipment, automotive parts, greenhouses, medical devices, exterior lighting fixtures, and sports safety equipment.
Though general-purpose grade polycarbonate resins have been widely accepted all over, the future belongs to the optical grade value of polycarbonate resins, with growing demand for a combination of aesthetics and functionality.
Automakers have taken plastics lightly in the last few years. However, the trend is changing now. They are emphasizing on development of lightweight vehicle components for addressing the regulatory requisites.
It’s a known fact that polymers help in the reduction of the overall weight of vehicles as they go on to replace bulkier materials like metal and glass, thereby saving on energy. The automakers are actually experimenting with various key components for fitting the shifting expectations of consumers with compliance to the regulations that exist.
Besides, the fact that the automotive vertical is on the verge of automation can’t be ignored. As such, the automakers are into significant investment in electric vehicles. This paradigm shift to electromobility is expected to catalyze the production of specialized plastics. Numerous automakers are partnering with manufacturers of plastics to develop cost-effective, highly functional, and customer-centric auto components for obtaining large-term scales.
The ongoing trend is that of pillar-less front windows; which is looked upon as a key influencer for the polycarbonate resins market. Initially, these resins weren’t preferred for automotives’ front windows (especially in Japan). However, permission has been sought now with safety standards in place. Along these lines, Teijin has come up with the very first polycarbonate resin pillar-less front window for Tommykaira ZZ (an EV produced by GLM Co., Ltd.).
At the same time, the fact that bio-based plastics are being asked for in the wake of environmental-friendliness can’t be ignored. Besides, prices of petrochemicals and crude oil have been skyrocketing of late. This factor is expected to restrain the polycarbonate resins market in the near future.
Future Market Insights has walked through these facts with future perspectives in the latest market study entitled ‘Polycarbonate Resins Market’. It has its team of analysts and consultants to execute using a bottom-up approach all across its macros and micros.
“Polycarbonate resins do outshine transparent polymers like PMMA (polymethylmethacrylate) in terms of impact resistance. This factor is expected to drive the polycarbonate resins market in the near future”, says an analyst from Future Market Insights.
Key Takeaways from the Polycarbonate Resins Market
North America holds a sizable market share due to higher demand for medical-grade polycarbonate followed by automobile glazing. With building & construction verticals on the boom, the polycarbonate resins market is expected to grow unabated in the near future.
The Asia-Pacific is expected to grow at a rapid pace in the polycarbonate resins market with regions like India and China considerably needing polycarbonate resins to support in escalation of urbanization.
Europe is expected to go steady with the polycarbonate resins market in the forecast period.
Competitive Resins in the Polycarbonate Resins Market
SABIC has its Lexan resin polycarbonate pellets 124R UL-rated HB 17.5 MFR that has been approved by the US FDA as well.
M-Chemical has its polycarbonate resin called ‘Iupilon/Novarex/Xantar’ with the objective of tabling the products with higher transparency and utility in various temperatures.
Key Companies Profiled
Bayer Material Science AG
Mitsubishi Engineering Plastic
Mitsubishi Gas Chemical Co.
SABIC IP
Formosa Fiber & Chemical Corporation
Teijin Ltd.
Idemitsu Kosan Ltd.
What does the Report say?
The research study is based on applications (electrical & electronics, optical media, consumer, automotive, films, packaging, medical, and likewise).
With the growing application of polycarbonate variations in tablets and mobiles, the global polycarbonate resins market is expected to grow on a grand note in the near future.
Key Segments Profiled in the Polycarbonate Resins Industry Survey
Application:
Electrical & Electronics
Optical Media
Consumer
Automotive
Films
Packaging
Medical
Others
Region:
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
Japan
Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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