POLYCARBONATE MARKET ANALYSIS

Market Challenges And Opportunities

Drivers:

Increasing demand for the product from packaging applications is propelling the market growth of polycarbonate. Shifting preferences for polymers in the packaging of food and beverages due to their durability is again expected to foster the market growth of polycarbonate. Also, increasing demand for high-strength and quality products for packaging consumer goods and food products is further projected to accelerate the market growth of polycarbonate over the forecast timeframe.

Growing disposable income coupled with the increasing population around the globe is expected to foster the market growth of polycarbonate. The rise in the end-user industries across the developing region is also contributing to the market growth of polycarbonate. Also, a high GDP growth rate in the developing regions is again expected to propel the market growth. In addition to this, growing awareness regarding the benefits of polycarbonate among manufacturers is further creating demand thereby fueling the market growth.

Market Restraints

Growing environmental concerns as these polymers are difficult to recycle which can harm both terrestrials, as well as aquatic life in the environment, is expected to hinder the market growth. Also, the accumulation of plastic on land can cause soil as well as water pollution which is hampering the market growth of polycarbonate.

The fluctuating price of the raw materials used in the production of polycarbonate is projected to restrict market growth. Bisphenol A is a key product used in the product and is derived from crude oil which is highly susceptible to volatility. Thus the volatile price of the raw materials is hindering the market growth of polycarbonate.

Market Opportunities

Growing demand for bio-based polycarbonate due to growing environmental concerns is projected to offer lucrative opportunities in the near future. For instance, in August 2021, the first approved circular polycarbonate (PC) resin and blends made from post-consumer mixed plastic had officially been commercialized, according to SABIC. This cutting-edge recycling-based solution demonstrates SABIC’s ongoing dedication to promoting the circular economy for plastics by increasing the accessibility of more environmentally friendly products.

Increasing investment by key manufacturers in the development of public infrastructure is projected to offer potential market opportunities. Development of the metro-rail projects and airports is creating a huge demand for polycarbonate resins from the construction industry. Moreover, the expansion of the mass transit systems is also expected to foster the demand for the products. Thus, growth in the construction industry is projected to accelerate the market growth of polycarbonate.