The global polycarbonate films market is projected to expand at a substantial CAGR during the forecast period. This growth is attributed to the rising adoption of the film in automotive, consumer electronics, and healthcare sectors.
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Polycarbonates are a type of thermoplastic polymer which comprises of carbonate groups in their chemical structure. They are produced by the reaction of Bisphenol A (BPA) and phosgene gas. Polycarbonates have superior properties such as high elasticity, resistance to abrasion, chemical, heat and moisture which increases their suitability for automotive applications. They are used widely in electronics, transportation, and medical packaging among others. These films are extensively used in the manufacturing of labels and nameplates, boards, membrane switches, control panels and as a packaging material for medical devices.
Increasing demand in automotive applications due to high light transmission, toughness, dimensional stability and appeal is likely to accelerate growth of PC films market size. It comprises of various products such as optical, weatherable, flame retardant and anti-fog films catering to electronics & electrical, medical, agriculture and construction industries, thereby stimulating industry growth.
Market Trends, Drivers, Restraints, and Opportunities:
- Surging disposable income and rising automobile production segment have increased the demand of polycarbonate films thus fueling the growth of the market.
- Polycarbonate films are used as an alternative to metal, steel, and other conventional polymers of automotive components due to its property of being low weight, highly elasticity, resistant to abrasion, heat, chemicals, oil, and moisture. Thus, driving the market growth.
- Increasing healthcare and medical device market in North America and consumer electronics production in Asia Pacific are boosting the polycarbonate films market.
- High setup cost and usage of hazardous chemicals is a key restraint of the market.
- Availability of substitutes such as thermoplastic polyurethane films is expected to hamper the market growth.
- Government regulations and policies have played a defining role in driving demand of global polycarbonate films market in China, Japan, and India Increasing R&D efforts by producers to achieve lucrative production and higher product efficacy is expected to foster the market growth.