POLYCARBONATE MARKET ANALYSIS

Polycarbonate MarketSize and Trends

The global polycarbonate market is was accounted for US$ 22.6 Billion in terms of value by the end of 2022 and is expected to grow at a CAGR of 6.8% during the forecast period.

Figure 1. Global Polycarbonate Market, Revenue Share (%), By Region, 2022

Based on application, electronics segment dominated the global polycarbonate market in 2022, accounting for a 29% share in terms of revenue, followed by the automotive and construction segment, respectively.

Market Trends/Key Takeaways

Continuous product innovation by the key manufacturer is one of the growing trends in the market. For instance, in February 2020, Trinseo a global materials solutions provider and manufacturer of plastics and synthetic rubber launched new wear-resistant, high-lubricity polycarbonate (PC) at two major industry shows Pharmapack in Paris, France, and MD&M West in Anaheim, California. The wear-resistant, high-lubricity PC has been designed for drug delivery devices and surgical tools.

Improving lifestyle of the consumers is driving demand for durable consumer goods produced from polymers. Also, increasing demand for polycarbonate from the healthcare segment where it is used in the manufacturing of medical devices is again expected to foster the market growth. Therefore, a growing number of hospitals are creating demand for medical devices. Moreover, the rise in the urban population coupled with the increased exports and imports of consumer goods is further projected to escalate the market growth of polycarbonate over the forecast period.

Global Polycarbonate Market - Impact of Coronavirus (Covid-19) Pandemic

The novel Coronavirus (COVID-19) has impacted the global polycarbonate industry to some extent. But, surging demand for polycarbonate face shields as protective wear against the virus is anticipated to trigger the demand for polycarbonate.