Polycarbonate Market - Electronics and Automotive Industries to Remain Market’s Key Driver, Research By 2020

Polycarbonate, a thermoplastic polymer, is used widely in various applications as it offers properties such as high impact resistance, transparency, flame retardancy and high structural rigidity. Polycarbonate can be processed using extrusion and injection molding techniques to develop products with different properties and shapes. Additives can be added to the polymer while processing in order to enhance its processing efficiency and physical properties.

The increased demand for fuel-efficient lightweight vehicles is the key factor attributable to polycarbonates’ excellent demand across the automotive industry. High level of transparency and excellent structural rigidity promise excellent usability for the material in the packaging industry. In the consumer electronics industry, the material finds usage owing to its excellent flame retardancy, impact resistance, and optical clarity. In the near future, the demand for polycarbonates is expected to remain healthy on a global front owing to steady growth of most of its key end-use industries.

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On the basis of application, the report segments the global polycarbonate market into packaging, optical media, construction, electronics, automotive, tableware, and medical implants industries. Of these, the electronics industry accounted for a dominant share in overall consumption of polycarbonates in 2013. The electronics industry also remained the dominant contributor of revenue to the global market in the same year.

Over the report’s forecast period, the automotive segment is expected to lead to the most promising growth prospects for the global polycarbonates market, chiefly owing to the rising demand for lightweight vehicles. The segment of optical media is expected to lose a considerable share in the global market owing to the rising level of digitization and increased adoption of cloud-based storage and data processing solutions. The demand for polycarbonates across niche application areas such as tableware and medical implants are expected to exhibit moderate growth over the forecast period owing to the vast availability of substitutes.

Among the key regions in the global polycarbonate market, Asia Pacific led the market in 2013 with over 61% share in terms of volume. “The rapid growth of the electronics industry in countries such as China has led to increased demand from the market,” TMR report states. Furthermore, a number of automotive manufacturers are shifting their focus on Asia Pacific due to the availability of cheap labor. This has also augmented the growth of the polycarbonate market. In the Rest of the World, the demand for polycarbonate packaging is anticipated to increase at a moderate rate.

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Keeping in view the low emission targets introduced by environmental authorities, automobile manufacturers are stressing on the development of lightweight vehicles. The extensive usage of polycarbonate material to build light vehicles is one of the major factors driving the demand from the global polycarbonate market. The rapid expansion of the consumer electronics industry has also played a pivotal role in the market’s growth as thermoplastic polymers are largely used in electronic components. Furthermore, packaging applications have augmented the growth of the global polycarbonate market, especially across the emerging economies.

However, the volatile prices of raw materials such as bisphenol A (BPA) have negatively impacted the market’s growth. The high cost of polycarbonate and low scratch resistance displayed by the material are expected to impede the growth of the market during the forecast period. “In the hindsight, this drawback has created a growth opportunity in terms of demand for bio-based and scratch resistant polycarbonates,” a TMR analyst states.

The Asia Pacific market is also expected to remain the most important driver of the global polycarbonates market owing to the thriving industrial sector, presence of several consumer electronics manufacturers, rising demand for vehicles, and rising GDPs across emerging economies such as China and India.

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