Polycarbonat Market Statistical Analysis, Key Segments, Benefits and Opportunity and Forecast, 2027
Description :
Global Polycarbonate Market Research Report: Information by Processing Technology (Extrusion and Molding), End-Use (Automotive, Electrical & Electronics, Building & Construction, Optical Media, Home Appliances, Packaging, Medical, and Sports & Leisure) and Region (Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa)—Forecast till 2027
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Polycarbonate Market Analysis
The global plastic materials market is projected to grow at a considerably high CAGR reaching the value of USD 1 trillion by the end of 2023, reports Market Research Future (MRFR). This market growth in plastic materials is bound to give a considerable push to the polycarbonate market.
Polycarbonate resins are tough thermoplastics which are produced by the reaction between bisphenol A (BPA) and phosgene gas. It is an amorphous, ductile, and transparent plastic that has high tolerance for extreme temperatures. Its chemical resistance makes it ideal for a variety of applications.
These characteristics coupled with its transparency and light-weight features leads to its extensive usage in diverse industrial and commercial sectors as well as aesthetically appealing components in the automotive & transportation sector. Apart from this, niche application areas like safety equipment and industrial machinery are likely to gain demand in future.
Top Key Players
The key players making a name in the polycarbonate market are Asahi Kasei Chemical Corporation (Japan), Idemitsu Kosan Co. Ltd. (Japan), Covestro (Germany), Teijin Limited (Japan), Mitsubishi Engineering Plastics Corp. (Japan), LG Chemicals (South Korea), EVONIK INDUSTRIES AG (Germany), Formosa (U.S.), SABIC (Saudi Arabia), and Bayer AG (Germany), among others.
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Report : https://www.marketresearchfuture.com/reports/polycarbonate-market-1080
Regional Analysis
The global polycarbonate market is geographically segmented into five major regions—North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
The market in Asia Pacific is projected to lead the global market with the largest share. This feat has been achieved on account of rapid industrialization in the region in the past few years, coupled with favorable government policies and funding for infrastructure and transportation. In the region, India, Japan, South Korea, Malaysia, and China are major contributors to the market growth. In addition, changing lifestyles, growing disposable incomes, and shifting consumer trends have driven the automotive and packaging industries in the region, in turn fuelling the growth of the regional market.
On the other hand, North America is expected follow APAC with the second-largest market. In the region, the United States (U.S) is the largest country-level market owing to a steady rise in the use of polycarbonate materials in reconstruction activities along with the automotive and packaging industries.
Europe is making similar strides, with the markets in the United Kingdom (U.K), France, Germany, Italy, and Belgium leading the region. The growth of the regional market can be attributed to the use of polycarbonate in automotive and many other industrial applications.
Lastly, the markets in the Middle East and Africa and Latin America account for a relatively smaller market share; however, these markets are likely to grow in the coming years owing to growing economy and increasing industrialization.
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