Polycarbonate Market, Overview, Trends and COVID-19 Analysis, Forecast to 2023

Polycarbonate Market Overview:

Polycarbonate, a thermoplastic polymer, has features like high impact strength and extraordinary toughness at mild temperatures. It commonly appears in a transparent crystalline state and finds a lot of application across industries. The global polycarbonate market is expected to achieve remarkable growth during the forecast period of 2018 to 2023. Market Research Future (MRFR) in their recent report on the polycarbonate market proposes a possibility of crossing the estimated market valuation by 2023.

Several industries like construction, aerospace, automotive, electronics, railways, and medical are expected to take the onus of furthering the global polycarbonate market by fetching in notable revenue. Its features like lightweight, better durability, high heat & tear resistance, and easy processability are triggering its popularity.

Polycarbonate Market Segmentation:

MRFR has made a detailed study of the global polycarbonate market by segmenting the market on the basis of application. Such a segmentation relies heavily on volume-wise and value-wise market analysis and their factors and figures. This allows a closer perspective of the micro and macro factors.

Based on the application, the global polycarbonate market comprises building & construction, automotive, electrical & electronics, packaging, medical devices, consumer goods, and others. Among these, the automotive segment is expected to gain some strong tailwind as the use of polycarbonate for various designs and aesthetic upliftment in cars is quite prolific. The electrical & electronics segment is also expected to benefit from growth of the polycarbonate industry.

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Polycarbonate Market Regional Analysis:

The global polycarbonate market in MRFR reports has been studied with five major regions in sight. These regions are North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. Such a review of the market aims at the identification of growth pockets, which the major market players can explore for better profitability.

The APAC market has the lion’s share in the market and it is on a growth curve as several industries are popping up to capitalize on the cost-affordable labor and easy access to resources. This regional growth can be assessed by the rapid urbanization and industrialization rates. This has posed favorable conditions for the market to consider various expansion opportunities. Government initiatives are also favoring the regional mapping of the growth chart. Their policies and funding for infrastructure are benefiting regions like India, Japan, South Korea, Malaysia, and China. Transportation is also having a remarkable change, along with other factors like changing lifestyles, rising disposable incomes, and transforming consumer trends. The automotive sector is witnessing substantial growth, which is expected to ensure strong rise in demand for polycarbonates.

The market of North America is Expected to retain its second position by garnering substantial revenue from the construction and automotive sectors. The packaging industry, in the region, is also registering remarkable transformation. Europe’s market is getting tractions from countries like the U.K., France, Germany, Italy, and Belgium. Robust automotive industry is providing the maximum market share. Other industrial applications are also expected to play a pivotal role in transforming the regional market. The MEA market and Latin American region are expected to register a small share of the global market. This is due to lack in industrial growth. However, the scene is expected to change with countries like Qatar, Saudi Arabia, Brazil, Israel, Dubai, and others initiating various steps to transform both these regional markets.

Polycarbonate Market Competitive Landscape:

Several companies are investing substantially in the growth of the polycarbonate market. MRFR profiled a few like Covestro (Germany), Teijin Limited (Japan), Mitsubishi Engineering Plastics Corp. (Japan), LG Chemicals (South Korea), EVONIK INDUSTRIES AG (Germany), Formosa (U.S.), Asahi Kasei Chemical Corporation (Japan), Idemitsu Kosan Co. Ltd. (Japan), SABIC (Saudi Arabia), and Bayer AG (Germany), among others to get a comprehensive market picture.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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