Polycarbonate Resins Market is forecast to reach USD 23.91 Billion by 2027| SABIC Innovative Plastics, Teijin Ltd., Bayer Materialscience Ag, Chi Mei Corporation, etc.

The Global Polycarbonate Resins market is forecast to reach USD 23.91 Billion by 2027, according to a new report by Reports and Data. Polycarbonate resins can be described as rigid, transparent polymers having excellent temperature characteristics ranging from -20 to 1400C. It is mainly market under Makrolon® and Lexan®; however, various other manufacturers produce this polymer. It was originally developed by GE in the US and Bayer in Germany. The material has a history of applications requiring impact resistance and optical clarity like face shields and bank-teller windows two such common uses. It is worth mentioning here that, though it has high impact resistance, it is not scratch-proof and requires a coating with harder material. It also witnessed applications in arenas requiring transmission of light, in which there is a high risk of impact like security windows, machinery guards, safety glasses, prescription lenses, motorcycle face shields, and windscreens, among others. In this kind of resins, additive is used to enhance its resistance to UV light that can result in discoloration like in fogging. Thus, wide application areas are boosting the overall growth of the market.

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Key participants include Bayer Materialscience Ag, SABIC Innovative Plastics, Teijin Ltd., Bayer Materialscience Ag, Chi Mei Corporation, Mitsubishi Engineering-Plastics Corporation, LG Chem Ltd., Formosa Chemicals & Fiber Corporation, Samyang Corporation and Samsung Sdi Co., Ltd.

For the purpose of this report, Reports and Data have segmented the global Polycarbonate Resins market according to Grade, Sales Channel, Application, and Region:

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
North America
Europe
Asia Pacific
MEA
Latin America

Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Commercial grade
Medical grade

Sales Channel Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Online
Offline

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
Electrical & electronics
Automotive
Building & construction
Consumer goods
Medical
Optical Media
Packaging
Others

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Further key findings from the report suggest

1. The Polycarbonate Resins market held a market share of USD 14.06 Billion in the year 2018 that is forecasted to grow at a rate of 6.0% during the forecast period.

2. In regards to the region, North America is projected to witness a considerable growth rate of 6.1% during the forecast period, which is expected to hold more than 20.0% of the market by 2027. The growth rate witnessed by the region is attributed to the expanding automotive sector, healthcare sector, and rising demand for electrical & electronics products that is supporting the expansion of the industry in this region.

3. In context to Sales Channel, the Offline segment held a larger market share of more than 60.0% in 2018, with a CAGR of 5.6% during the forecast period. The fact that high sale channel is the conventional channel for selling products that provides with the scope for creating personal trust and loyalty with customers results in its high preference among manufacturers of this resin contributing to the market share held by this segment.

4. In regards to Application, the Automotive segment is projected to witness a considerable growth rate of 6.8% during the forecast period, which held more than 10.0% of the market in 2018. The continuous expansion of the automotive sector associated with elevating demand for lightweight and heavy-duty vehicles is resulting in the growing popularity and use of this resin in the automotive industry.

5. In context to Grade, the Medical grade segment is projected to witness a considerable growth rate of 8.4% during the forecast period, which is expected to occupy more than 10.0% of the market by 2027. The growth rate witnessed by the Medical grade segment is attributed to the fact that PC resin has stability at high temperature that makes it applicable for manufacturing medical devices that requires steam-sterilization, which contributes to the growth rate witnessed by this segment. These medical devices can also be sterilized with radiation and ethylene oxide through a limited number of cycles. It is widely used in medical devices like insulin pens, high-pressure syringes, and surgical instruments, among others.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

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3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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