Global Polycarbonate Market Analysis: Size, Drivers, Trends, Opportunities And Strategies- Includes Polycarbonate Market Insights
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global polycarbonate market is on the rise, and one of the key drivers behind this growth is the increasing demand for electric vehicles (EVs). Polycarbonate, known for its lightweight properties, high impact resistance, and optical clarity, has become a go-to material for EV manufacturers. The surge in electric car sales, nearly doubling to 6.6 million in 2021 compared to 2020, is a testament to the growing prominence of EVs on our roads. The rise in electric vehicle adoption enhances safety, improves energy efficiency, and provides design flexibility, contributing significantly to the flourishing polycarbonate market.
Market Size and Projections
- The global polycarbonate market is set to grow from $21.45 billion in 2022 to $22.82 billion in 2023, with a compound annual growth rate (CAGR) of 6.4%.
- Projections suggest that by 2027, the market size will reach $28.38 billion, maintaining a CAGR of 5.6%.
Major Players in the Field
Leading the charge in the polycarbonate market are key players such as BASF SE, SABIC, LG Chem Ltd., and Evonik Industries AG. These industry giants play a crucial role in shaping the market dynamics, bringing innovation, and meeting the ever-growing demand for polycarbonate.
Diversified Applications and Segmentation
The polycarbonate market exhibits a diversified range of applications and is segmented based on various factors.
Global Polycarbonate Market Segmentation:
- By Type:
- Other Types
- By Processing Technology:
- Injection Molding
- By Grade:
- General Purpose Grade
- Flame Retardant Grade
- PC Alloyed Grade
- Medical Grade
- Food Grade
- Other Grades
- By Application:
- Electrical And Electronics
- Consumer Goods
- Optical Media
- Medical Devices
- Other Applications
Innovation Propelling Growth
A significant trend in the polycarbonate market is the emphasis on innovative solutions. To stay competitive, major companies are investing in cutting-edge solutions to cater to market demands. An exemplary case is Essentium Inc.’s recent launch of Essentium Altitude. This polycarbonate material is designed to withstand extreme cold temperatures, reaching as low as -60°C. This innovation opens doors for quick and cost-effective production of parts capable of resisting freezing temperatures, offering advantages in industries such as aerospace, automotive, cold storage, maintenance, and construction.
- In 2022, Asia-Pacific dominated the polycarbonate market, and the trend is expected to continue.
- North America is anticipated to be the fastest-growing region in the forecast period, indicating a dynamic shift in market dynamics.
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The Polycarbonate Global Market Report 2023 provides an overview of the polycarbonate market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The polycarbonate market forecast analyzes polycarbonate market size, polycarbonate market share, leading competitor and their market positions.
The Table Of Content For The Polycarbonate Market Include:
1. Polycarbonate Market Executive Summary
2. Polycarbonate Market Segments
3. Polycarbonate Market Size And Polycarbonate Market Growth Rate
4. Key Polycarbonate Market Trends
5. Major Polycarbonate Market Drivers
25. Key Mergers And Acquisitions In The Polycarbonate Market
26. Top Polycarbonate Companies
27. Polycarbonate Market Opportunities And Strategies
28. Polycarbonate Market, Conclusions And Recommendations
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