Polycarbonate Composites Market to Amass Remarkable Returns Over 2019 – 2024 | Key players are Chi Mei, Mitsubishi Chemical, SABIC Innovative Plastics, LG Chem and Covestro operating

Rapidly growing electrical & electronics industry is projected to drive the polycarbonate composites market during the forecast period. This can be attributed to the growing middle-class, changing lifestyle and increasing smart electronic devices penetration across the globe. PC composites usage in electrical & electronics industry growing with an accelerated pace owing to its properties such as good heat temperature resistance, high strength and superior electrical insulation.

Glass fiber filled polycarbonate composites was the major product segment in 2018 and forecast to remain the prominent in near future. Glass fiber filled PC composites are light weight, exhibit low brittleness and cost effective. Automotive will be the major product end-use segment during the forecast period. Glass fiber filled PC composites are highly used in automotive industry owing to its high strength, low density, oxidation corrosion resistance and excellent creep. Healthy growth in automotive industry in Asia Pacific anticipated fuel the glass fiber filled polycarbonate composites market demand in next few years.

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Elaborating further on the mindset of automakers regarding fuel consumption, it is a well-established fact that cutting down a car’s weight by one-tenth can boost fuel economy by almost 6-8 percent. And this is where the criticality of polycarbonate composites comes into the picture, as these products are being increasingly preferred by automakers to build vehicles that are lighter in weight. Although the market share held by automotive plastics in the polycarbonate composites market is moderate as of now, it is certainly set to register a decent CAGR of 6 percent over the upcoming years.

Despite a promising growth outlook, the polycarbonate composite industry might face a few daunting challenges in the future owing to the rising emphasis on reducing plastic usage across all the business verticals. Moreover, as biodegradability of polycarbonate composites is a matter of concern, healthcare regulatory authorities are formulating stringent regulations with respect to its usage. The guidelines prescribed for medical instrument manufacturers may pose some significant obstacles for the polycarbonate composites market players in the times to come.

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In terms of regional growth expanse, Asia Pacific has established itself as one of the most lucrative terrains for the polycarbonate composites market over the recent years. The tremendous progress made by the automotive sector in Asia Pacific nations is quite unprecedented, impelling the regional polycarbonate composites market share. In addition to this, manufacturing of medical instruments in South Korea, China, and India has proved to be an excellent opportunity for the makers of polycarbonate composites in the region.

Owing to their superior flame retardant properties and high mechanical strength, polycarbonate composites are being regarded as vital components across expansive sectors such as automotive and healthcare. As these business verticals continue to register excellent growth rate, it is a given that polycarbonate composites market would invariably expand at a commendable pace in the forthcoming years.

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