The Global Polycarbonate Market size is expected to reach $31.7 billion by 2030, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 6,684.0 Kilo Tonnes, experiencing a growth of 2.3% (2019-2022).
Polycarbonate's design flexibility enables the creation of intricate and customized packaging solutions. Consequently, the packaging segment captured $1,413.4 million revenue in the market in 2022. Also, consumed 11.9 kilo tonnes in the market in 2022. It is known for its high impact resistance and durability. In packaging applications, these properties can be advantageous to protect fragile or valuable items during transportation and handling. It exhibits resistance to many chemicals, protecting packaged goods that may be sensitive to environmental factors or require a barrier against certain substances.
The demand for energy-efficient and aesthetically pleasing building designs has led to increased use of PC in architectural glazing applications. Polycarbonate panels construct noise barriers and sound walls along highways and busy urban areas. The material's impact resistance and ability to reduce sound transmission make it valuable in creating effective acoustic barriers. Thus, because of the booming construction and building sector, the market is anticipated to increase significantly.
Electric vehicles prioritize energy efficiency and extended range. For instance, according to the International Energy Agency, electric car sales are growing exponentially, surpassing 10 million in 2022. The percentage of electric vehicles in total sales has more than tripled in just three years, from 4% in 2020 to 14% in 2022. Through 2023, significant EV sales are anticipated to continue. More than 2.3 million EVs were sold in the first quarter, a 25% increase over 2021.
However, the primary raw materials for the production include bisphenol A (BPA) and phosgene. Economic factors at a global scale, such as currency exchange rates, geopolitical events, and overall economic stability, can contribute to raw material price volatility. Changes in these conditions can further complicate the management of raw material costs for its producers. Thus, high raw material price volatility can slow down the growth of the market.
By Product Analysis
By product type, the market is divided into sheets & films, blends, and others. The blends segment garnered a 27.9% revenue share in the market in 2022. Blending allows manufacturers to customize the physical properties of polycarbonate blends. This includes adjusting hardness, flexibility, and tensile strength to meet specific packaging and consumer goods application requirements. Blended materials may offer enhanced electrical insulation properties, making them suitable for applications in the electrical and electronics industry, including components for electronic devices, connectors, and insulating materials.
By Application Analysis
By application, the market is categorized into automotive & transportation, electrical & electronics, construction, packaging, consumer goods, optical media, medical devices, and others. In 2022, the electrical & electronics segment held the 24.25% revenue share in the market. It is utilized for manufacturing electrical housings, enclosures, and various components in electronic devices. The electrical insulation properties of PC make it suitable for protecting sensitive electronic components.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 20.62% revenue share in the market. The demand for PC in North America is closely tied to key end-use industries such as automotive, construction, electronics, and consumer goods. The growth of the automotive industry in North America, driven by factors such as consumer demand, innovation, and government regulations, can contribute to increased usage.
Market Competition and Attributes
The market is marked by robust competition among key players such as Covestro AG, SABIC, Teijin Limited, Mitsubishi Engineering-Plastics Corporation, LG Chem, and Chi Mei Corporation. These companies vie for market share through factors such as technological advancements, product quality, pricing strategies, and geographic presence. While these major players dominate the global market, there are also numerous regional and niche competitors contributing to the competitive landscape. The market's dynamics continue to evolve, driven by innovation and changing customer demands, shaping the strategies of companies within the industry.
Recent Strategies Deployed in the Market
- Oct-2023: Covestro AG has launched its inaugural mechanical recycling compounding line for polycarbonates at its Shanghai site in China. Through this launch, the portfolio line will annually produce 25,000+ tons of premium-quality polycarbonates and blends with recycled materials, meeting the rising demand for post-consumer-recycled plastics, especially in the electrical, automotive, and consumer goods industries.
- May-2023: Trinseo PLC expanded its geographical presence by unveiling the opening of its polycarbonate (PC) dissolution pilot facility in Terneuzen, the Netherlands. This pilot plant will serve as a key component in Trinseo's efforts to meet its 2030 sustainability goals, with a focus on advancing recycling initiatives and enhancing the availability of sustainable feedstock.
- Mar-2023: Covestro AG is expanded its global production capacity for polycarbonate (PC) specialty films to meet the demand in the Asia-Pacific region and globally. The company is constructing new extrusion lines at the Map Ta Phut Industrial Park in Thailand, primarily catering to identity documents, automotive displays, and electrical and electronic applications. This investment, in the higher double-digit million-euro range, is expected to be completed by 2025, creating approximately 50 new jobs.
- Nov-2022: SABIC launched the LNP EXL9334P copolymer resin, featuring a leading comparative tracking index along with low-temperature flexibility, dimensional stability, heat resistance, and others. This specialized resin surpasses competitors such as glass-reinforced nylon, polyphenylene ether (PPE), and standard PC.
List of Key Companies Profiled
- Covestro AG
- SABIC (Saudi Arabian Oil Company)
- LOTTE Chemical Corporation (LOTTE Corp.)
- Teijin Limited
- Trinseo PLC
- Idemitsu Kosan Co., Ltd.
- LG Chem Ltd. (LG Corporation)
- RTP Company, Inc.
- CHIMEI Corporation
- Lone Star Chemical
Global Polycarbonate Market Report Segmentation
By Product Type (Volume, kilo Tonnes, USD Billion, 2019-2030)
- Sheets & Films
- Blends
- Others
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
- Electrical & Electronics
- Automotive & Transportation
- Construction
- Packaging
- Consumer Goods
- Medical Devices
- Optical Media
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Polycarbonate Market, by Product Type
- 1.4.2Global Polycarbonate Market, by Application
- 1.4.3Global Polycarbonate Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Strategies Deployed in Polycarbonate Market
Chapter 5.Global Polycarbonate Market, by Product Type
- 5.1Global Sheets & Films Market, by Region
- 5.2Global Blends Market, by Region
- 5.3Global Others Market, by Region
Chapter 6.Global Polycarbonate Market, by Application
- 6.1Global Electrical & Electronics Market, by Region
- 6.2Global Automotive & Transportation Market, by Region
- 6.3Global Construction Market, by Region
- 6.4Global Packaging Market, by Region
- 6.5Global Consumer Goods Market, by Region
- 6.6Global Medical Devices Market, by Region
- 6.7Global Optical Media Market, by Region
- 6.8Global Others Market, by Region
Chapter 7.Global Polycarbonate Market, by Region
- 7.1North America Polycarbonate Market
- 7.1.1North America Polycarbonate Market, by Product Type
- 7.1.1.1North America Sheets & Films Market, by Country
- 7.1.1.2North America Blends Market, by Country
- 7.1.1.3North America Others Market, by Country
- 7.1.2North America Polycarbonate Market, by Application
- 7.1.2.1North America Electrical & Electronics Market, by Country
- 7.1.2.2North America Automotive & Transportation Market, by Country
- 7.1.2.3North America Construction Market, by Country
- 7.1.2.4North America Packaging Market, by Country
- 7.1.2.5North America Consumer Goods Market, by Country
- 7.1.2.6North America Medical Devices Market, by Country
- 7.1.2.7North America Optical Media Market, by Country
- 7.1.2.8North America Others Market, by Country
- 7.1.3North America Polycarbonate Market, by Country
- 7.1.3.1US Polycarbonate Market
- 7.1.3.1.1US Polycarbonate Market, by Product Type
- 7.1.3.1.2US Polycarbonate Market, by Application
- 7.1.3.2Canada Polycarbonate Market
- 7.1.3.2.1Canada Polycarbonate Market, by Product Type
- 7.1.3.2.2Canada Polycarbonate Market, by Application
- 7.1.3.3Mexico Polycarbonate Market
- 7.1.3.3.1Mexico Polycarbonate Market, by Product Type
- 7.1.3.3.2Mexico Polycarbonate Market, by Application
- 7.1.3.4Rest of North America Polycarbonate Market
- 7.1.3.4.1Rest of North America Polycarbonate Market, by Product Type
- 7.1.3.4.2Rest of North America Polycarbonate Market, by Application
- 7.2Europe Polycarbonate Market
- 7.2.1Europe Polycarbonate Market, by Product Type
- 7.2.1.1Europe Sheets & Films Market, by Country
- 7.2.1.2Europe Blends Market, by Country
- 7.2.1.3Europe Others Market, by Country
- 7.2.2Europe Polycarbonate Market, by Application
- 7.2.2.1Europe Electrical & Electronics Market, by Country
- 7.2.2.2Europe Automotive & Transportation Market, by Country
- 7.2.2.3Europe Construction Market, by Country
- 7.2.2.4Europe Packaging Market, by Country
- 7.2.2.5Europe Consumer Goods Market, by Country
- 7.2.2.6Europe Medical Devices Market, by Country
- 7.2.2.7Europe Optical Media Market, by Country
- 7.2.2.8Europe Others Market, by Country
- 7.2.3Europe Polycarbonate Market, by Country
- 7.2.3.1Germany Polycarbonate Market
- 7.2.3.1.1Germany Polycarbonate Market, by Product Type
- 7.2.3.1.2Germany Polycarbonate Market, by Application
- 7.2.3.2UK Polycarbonate Market
- 7.2.3.2.1UK Polycarbonate Market, by Product Type
- 7.2.3.2.2UK Polycarbonate Market, by Application
- 7.2.3.3France Polycarbonate Market
- 7.2.3.3.1France Polycarbonate Market, by Product Type
- 7.2.3.3.2France Polycarbonate Market, by Application
- 7.2.3.4Russia Polycarbonate Market
- 7.2.3.4.1Russia Polycarbonate Market, by Product Type
- 7.2.3.4.2Russia Polycarbonate Market, by Application
- 7.2.3.5Spain Polycarbonate Market
- 7.2.3.5.1Spain Polycarbonate Market, by Product Type
- 7.2.3.5.2Spain Polycarbonate Market, by Application
- 7.2.3.6Italy Polycarbonate Market
- 7.2.3.6.1Italy Polycarbonate Market, by Product Type
- 7.2.3.6.2Italy Polycarbonate Market, by Application
- 7.2.3.7Rest of Europe Polycarbonate Market
- 7.2.3.7.1Rest of Europe Polycarbonate Market, by Product Type
- 7.2.3.7.2Rest of Europe Polycarbonate Market, by Application
- 7.3Asia Pacific Polycarbonate Market
- 7.3.1Asia Pacific Polycarbonate Market, by Product Type
- 7.3.1.1Asia Pacific Sheets & Films Market, by Country
- 7.3.1.2Asia Pacific Blends Market, by Country
- 7.3.1.3Asia Pacific Others Market, by Country
- 7.3.2Asia Pacific Polycarbonate Market, by Application
- 7.3.2.1Asia Pacific Electrical & Electronics Market, by Country
- 7.3.2.2Asia Pacific Automotive & Transportation Market, by Country
- 7.3.2.3Asia Pacific Construction Market, by Country
- 7.3.2.4Asia Pacific Packaging Market, by Country
- 7.3.2.5Asia Pacific Consumer Goods Market, by Country
- 7.3.2.6Asia Pacific Medical Devices Market, by Country
- 7.3.2.7Asia Pacific Optical Media Market, by Country
- 7.3.2.8Asia Pacific Others Market, by Country
- 7.3.3Asia Pacific Polycarbonate Market, by Country
- 7.3.3.1China Polycarbonate Market
- 7.3.3.1.1China Polycarbonate Market, by Product Type
- 7.3.3.1.2China Polycarbonate Market, by Application
- 7.3.3.2Japan Polycarbonate Market
- 7.3.3.2.1Japan Polycarbonate Market, by Product Type
- 7.3.3.2.2Japan Polycarbonate Market, by Application
- 7.3.3.3India Polycarbonate Market
- 7.3.3.3.1India Polycarbonate Market, by Product Type
- 7.3.3.3.2India Polycarbonate Market, by Application
- 7.3.3.4South Korea Polycarbonate Market
- 7.3.3.4.1South Korea Polycarbonate Market, by Product Type
- 7.3.3.4.2South Korea Polycarbonate Market, by Application
- 7.3.3.5Singapore Polycarbonate Market
- 7.3.3.5.1Singapore Polycarbonate Market, by Product Type
- 7.3.3.5.2Singapore Polycarbonate Market, by Application
- 7.3.3.6Malaysia Polycarbonate Market
- 7.3.3.6.1Malaysia Polycarbonate Market, by Product Type
- 7.3.3.6.2Malaysia Polycarbonate Market, by Application
- 7.3.3.7Rest of Asia Pacific Polycarbonate Market
- 7.3.3.7.1Rest of Asia Pacific Polycarbonate Market, by Product Type
- 7.3.3.7.2Rest of Asia Pacific Polycarbonate Market, by Application
- 7.4LAMEA Polycarbonate Market
- 7.4.1LAMEA Polycarbonate Market, by Product Type
- 7.4.1.1LAMEA Sheets & Films Market, by Country
- 7.4.1.2LAMEA Blends Market, by Country
- 7.4.1.3LAMEA Others Market, by Country
- 7.4.2LAMEA Polycarbonate Market, by Application
- 7.4.2.1LAMEA Electrical & Electronics Market, by Country
- 7.4.2.2LAMEA Automotive & Transportation Market, by Country
- 7.4.2.3LAMEA Construction Market, by Country
- 7.4.2.4LAMEA Packaging Market, by Country
- 7.4.2.5LAMEA Consumer Goods Market, by Country
- 7.4.2.6LAMEA Medical Devices Market, by Country
- 7.4.2.7LAMEA Optical Media Market, by Country
- 7.4.2.8LAMEA Others Market, by Country
- 7.4.3LAMEA Polycarbonate Market, by Country
- 7.4.3.1Brazil Polycarbonate Market
- 7.4.3.1.1Brazil Polycarbonate Market, by Product Type
- 7.4.3.1.2Brazil Polycarbonate Market, by Application
- 7.4.3.2Argentina Polycarbonate Market
- 7.4.3.2.1Argentina Polycarbonate Market, by Product Type
- 7.4.3.2.2Argentina Polycarbonate Market, by Application
- 7.4.3.3UAE Polycarbonate Market
- 7.4.3.3.1UAE Polycarbonate Market, by Product Type
- 7.4.3.3.2UAE Polycarbonate Market, by Application
- 7.4.3.4Saudi Arabia Polycarbonate Market
- 7.4.3.4.1Saudi Arabia Polycarbonate Market, by Product Type
- 7.4.3.4.2Saudi Arabia Polycarbonate Market, by Application
- 7.4.3.5South Africa Polycarbonate Market
- 7.4.3.5.1South Africa Polycarbonate Market, by Product Type
- 7.4.3.5.2South Africa Polycarbonate Market, by Application
- 7.4.3.6Nigeria Polycarbonate Market
- 7.4.3.6.1Nigeria Polycarbonate Market, by Product Type
- 7.4.3.6.2Nigeria Polycarbonate Market, by Application
- 7.4.3.7Rest of LAMEA Polycarbonate Market
- 7.4.3.7.1Rest of LAMEA Polycarbonate Market, by Product Type
- 7.4.3.7.2Rest of LAMEA Polycarbonate Market, by Application
Chapter 8.Company Profiles
- 8.1Covestro AG
- 8.1.1Company Overview
- 8.1.2Financial Analysis
- 8.1.3Segmental and Regional Analysis
- 8.1.4Research & Development Expenses
- 8.1.5Recent strategies and developments:
- 8.1.5.1Geographical Expansions:
- 8.1.6SWOT Analysis
- 8.2SABIC (Saudi Arabian Oil Company)
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental and Regional Analysis
- 8.2.4Recent strategies and developments:
- 8.2.4.1Product Launches and Product Expansions:
- 8.2.5SWOT Analysis
- 8.3LOTTE Chemical Corporation (LOTTE Corp.)
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental and Regional Analysis
- 8.3.4Research & Development Expenses
- 8.3.5Recent strategies and developments:
- 8.3.5.1Product Launches and Product Expansions:
- 8.3.6SWOT Analysis
- 8.4Teijin Limited
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4Research & Development Expenses
- 8.4.5SWOT Analysis
- 8.5Trinseo PLC
- 8.5.1Company Overview
- 8.5.2Financial Analysis
- 8.5.3Segmental and Regional Analysis
- 8.5.4Research & Development Expenses
- 8.5.5Recent strategies and developments:
- 8.5.5.1Geographical Expansions:
- 8.5.6SWOT Analysis
- 8.6Idemitsu Kosan Co., Ltd.
- 8.6.1Company Overview
- 8.6.2Financial Analysis
- 8.6.3Segmental and Regional Analysis
- 8.6.4Research & Development Expenses
- 8.6.5SWOT Analysis
- 8.7LG Chem Ltd. (LG Corporation)
- 8.7.1Company Overview
- 8.7.2Financial Analysis
- 8.7.3Segmental and Regional Analysis
- 8.7.4Recent strategies and developments:
- 8.7.4.1Product Launches and Product Expansions:
- 8.7.5SWOT Analysis
- 8.8RTP Company, Inc.
- 8.8.1Company Overview
- 8.8.2SWOT Analysis
- 8.9CHIMEI Corporation
- 8.10.Lone Star Chemical
Chapter 9.Winning Imperatives of Polycarbonate Market