Global Polycarbonate Market Is Estimated To Witness High Growth Owing To Rising Demand for Use of Polycarbonates in Automotive and Increasing Demand for Lightweight Automotive Components

Polycarbonate is a material that's tough, transparent, durable and incredibly resistant to impact. It's used for a wide range of applications. Some of its most common uses include bulletproof glass, sunglasses, safety goggles, and baby feeding bottles. Polycarbonate plastics are produced by injection molding and extrusion. They can be manufactured in a wide variety of colors, sizes, and shapes. Many types of polycarbonate are resistant to cracking and fading, and they are lightweight. They're usually stronger than glass. Polycarbonate is the preferred choice of many industries. These include electronics, automotive, and safety. This lightweight, durable, and flexible material is available in a variety of translucent and opaque colors. Polycarbonate is a great choice for 3D printing, too. The material has unique physical and chemical properties that make it an attractive option for 3D printing. Polycarbonate is a strong and light material that has been found to be useful in the medical and food industries. It has excellent chemical resistance, high temperature stability, and is easy to sterilize.

Increasing agreements is estimated to augment growth of the global polycarbonate market during the forecast period. For instance, Covestro AG and Serafin Group signed an agreement in January 2020. This agreement will help in supporting the central management operations, sales and manufacturing units in Europe. Moreover, increasing fluctuations in raw material prices is anticipated to restrain growth of the global polycarbonate market during the forecast period.

The global Polycarbonate Market is was accounted for US$ 18,398.2 Mn in terms of value and by the end of 2019 and is expected to grow at a CAGR of 6.1% during the forecast period.



COVID-19 had a significant effect on the economy of the world. There was a huge decrease in demand of the product. This was owing to strict lockdowns imposed around the world for preventing the transmission of the disease. Supply chains worldwide were affected due to these restrictions, which also hampered the demand and supply of products. During the outbreak many manufacturers had to halt their production activities as there was a shortage of labor for carrying t daily operations. This affected the growth of the global polycarbonate market in a negative way. However, now many restrictions have been relaxed and social distancing rules have been removed, so businesses are estimated to witness growth again.




Key Takeaways:

The global market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to growing product launches by major players. For instance, a certified circular polycarbonate was launched by Sabic in August 2021. The company claims that the polycarbonate can reduce greenhouse gas footprint by 23%.

Asia Pacific is estimated to witness significant growth in the global market over the forecast period, owing to increasing availability of raw materials and growing availability of low-cost labor.

Major players operating in the global market are LG Chem, Covestro, Lotte Chem, RTP Company, SABIC, Chi Mei Corporation, Teijin Industries, Lone Star Chemical, Mitsubishi Engineering Plastics Corp., and Trinseo.

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