Global Polycarbonate Market to be Worth US$19.6 bn by 2020 due to Rising Demand in Automotive, Consumer Electronics Design
Leading market intelligence firm Transparency
Market Research has announced the release of a new research study, titled ‘Polycarbonate
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014
- 2020’. The report projects the global
polycarbonate market to exhibit a steady 6.20% CAGR from 2014 to 2020
to rise from a valuation of US$12.8 bn in 2013 to close to US$19.6 bn by 2020.
Polycarbonates are a type of thermoplastic
polymer that offer a combination of favorable properties such as transparence,
high impact resistance, and easy molding. As a result of the latter in
particular, they can be shaped into diverse shapes and thus used in several
applications. Due to their high impact resistance, the global polycarbonate
market has found rising demand from the booming consumer electronics and
automotive industries.
In the automotive industry, polycarbonates are
used in various applications to provide high impact resistance and durability
at lower weights than conventional materials. Since polycarbonates can bend
significantly without breaking, their usage is rising in automotive design to
make the car safer. The rapid rise of the global automotive industry in recent
years, aided by the rising levels of disposable income worldwide and increasing
industrialization in several developing countries, has thus propelled the
global polycarbonates market significantly. The demand for polycarbonates is
mainly driven by the rising production of light passenger cars, which are being
bought in increasing numbers in developing countries such as India, China, and
South Korea.
According to the report, the automotive industry
is expected to be the fastest growing consumer of polycarbonates in the
forecast period. The rising Asia Pacific automotive industry is mainly
responsible for this.
Like the automotive industry, the demand for
polycarbonates for usage in consumer electronics is also mainly arising in Asia
Pacific. The consumer electronics market in Asia Pacific is also currently
rising at an immense growth rate, driven by the same wave of industrialization
that has boosted the automotive industry in the region. Due to their high
impact resistance and light weight, polycarbonates have emerged as the perfect
materials for mobile phones, propelling the global polycarbonate market.
Consumer electronics are expected to remain the largest application segment of
the global polycarbonate market and improve upon the 26% market share the
segment managed to garner in 2013.
Apart from the automotive and consumer
electronics industries, polycarbonates are also in demand from the packaging
and construction industries. These are also expected to remain key application
segments of the global polycarbonate market in the forecast period.
Due to the steady performance of the two major
applications of polycarbonates in the region, the Asia Pacific market for
polycarbonates emerged as the largest regional segment of the global market,
accounting for a dominant 61% of the market. The APAC polycarbonates market is
expected to remain the leading regional segment, followed by Europe and Rest of
the World.
The report presents data regarding the market’s
performance in all these regional segments over the review period and provides
studied forecasts about the market’s expected growth trajectory in these
regions over the forecast period. The report also profiles major players in the
global polycarbonate market such as Bayer MaterialScience, Teijin Ltd.,
Mitsubishi Engineering-Plastics Corporation, Idemitsu Kosan Co. Ltd., Asahi
Kasei Chemical Corporation, and Royal DSM.
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