Polycarbonate Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | BASF SE, The Idemitsu Kosan Company Ltd., Saudi Arabia's Basic Industries Corporation (SABIC), LG Chem Ltd

"The new report published by The Business Research Company, titled Polycarbonate Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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.

Contents of the report:
1. Executive Summary
2. Polycarbonate Market Report Structure
3. Polycarbonate Market Trends And Strategies
4. Polycarbonate Market - Macro Economic Scenario
5. Polycarbonate Market Size And Growth
…..
27. Polycarbonate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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