Polycarbonate Market 2024-2033: Competitor Assessment, Industry Size And Major Players

The polycarbonate market size has grown strongly in recent years. It will grow from $22.82 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to automotive industry growth, consumer electronics boom, environmental regulations, medical device applications, building and construction projects, aerospace industry demand.

The polycarbonate market size is expected to see strong growth in the next few years. It will grow to $30.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to sustainable and bio-based polycarbonates, rising demand in electronics, electric vehicle market growth, led lighting applications, expansion of 3d printing applications. Major trends in the forecast period include advancements in processing technologies, anti-reflective coatings, electronics miniaturization, smart building integration, lightweighting initiatives in automotive, collaborations for material innovation.

Market Overview -
Polycarbonate is a transparent thermoplastic polymer with carbonate functional groups. It is known for its exceptional strength and impact resistance. It is derived from bisphenol A (BPA) and phosgene and is a lightweight and durable alternative to glass due to its high clarity and shatter-resistant properties.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=11983&type=smp

Growing Demand For Electric Vehicles Accelerates Polycarbonate Market Growth
The rising demand for electric vehicles is expected to boost the growth of the polycarbonate market going forward. An electric vehicle (EV) is powered by one or more electric motors using electrical energy stored in rechargeable batteries or another energy storage device. Polycarbonate is commonly used in electric vehicles due to its lightweight, high impact resistance, and optical clarity, providing enhanced safety, improved energy efficiency, and design flexibility. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, in 2021, electric car sales nearly doubled to 6.6 million as compared to 2020, reached 6.5 million electric vehicles on the road. Therefore, rising demand for electric vehicles is driving the growth of the polycarbonate market.

Competitive Landscape -
Major companies operating in the polycarbonate market report are BASF SE, The Idemitsu Kosan Company Ltd., Saudi Arabia's Basic Industries Corporation (SABIC), LG Chem Ltd., Wanhua Chemical Group Co Ltd, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Lotte Chemical Corporation, Formosa Chemicals & Fibre Corporation, Royal DSM NV, Teijin Limited, Kuraray Co. Ltd., Excelite Plastic Limited, Trinseo S.A., UBE Corporation, Sumitomo Bakelite Co. Ltd., Chi Mei Corporation, 3A Composites GmbH, Mitsubishi Engineering-Plastics Corporation, RTP Company Inc., Plaskolite LLC, Palram Industries Ltd., King Plastic Corporation, Polyplastics Co. Ltd., Isik Plastik Sanayi Ve Dis Ticaret Pazarlama A.S., Bayer Material Science LLC, Centroplast Engineering Plastics GmbH, Verzatec, Suzhou Omay Optical Materials Co. Ltd.

Essentium Inc. Sets New Standards With Essentium Altitude In Polycarbonate Market
Innovative solutions are a key trend gaining popularity in the polycarbonate market. Major companies operating in the polycarbonate market are focused on innovative solutions to meet demand and sustain their position in the market. For instance, in May 2023, Essentium Inc., a US-based chemical manufacturing company, launched Essentium Altitude, the first polycarbonate material to withstand extreme cold temperatures. Up to -60°C. Because of this, business players have a unique opportunity to quickly make parts that can resist freezing temperatures when needed, saving money, cutting waste, and simplifying the supply chain at the pace of relevance. It is the most recent innovative material that greatly increases the use of 3D printing for outdoor and high-altitude applications. Essentium Altitude, designed to survive extreme cold, UV rays, and fires, establishes a new benchmark for high-performance components in the aerospace, automotive, cold storage, maintenance, and construction sectors.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/polycarbonate-global-market-report

Key Segments -
The polycarbonate market covered in this report is segmented -
1) By Type: Foil, Strips, Sheets, Film, Plates, Tubes, Fibers, Other Types
2) By Processing Technology: Injection Molding, Extrusion
3) By Grade: General Purpose Grade, Flame Retardant Grade, PC Alloyed Grade, Medical Grade, Food Grade, Other Grades
4) By Application: Transportation, Electrical And Electronics, Construction, Packaging, Consumer Goods, Optical Media, Medical Devices, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.