Global Polycarbonate Plastic Market – Drivers and Forecasts by Technavio

LONDON–(BUSINESS WIRE)–#PlasticsandPolymers—Technavio
analysts forecast the global
polycarbonate plastic market to grow at a CAGR of almost
7% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of
the global
polycarbonate plastic market for 2017-2021. The market is
segmented on applications (electrical and electronics,
automotive, construction, and optical media), and geography (APAC,
Europe, North America, and ROW).

The global polycarbonate plastic market will witness significant growth
during the forecast period owing to increasing applications of
polycarbonate plastic in the electrical and electronics, automotive, and
many other end-user industries. Polycarbonate plastic is preferred over
traditional materials such as glass, wood, and metal because of their
superior chemical and abrasion resistance characteristics. In recent
years, rapid growth is seen in the automotive industry due to the
increase in the disposable income worldwide, especially in APAC. The
demand is mainly driven by the rising production of passenger cars.
Increasing industrialization in APAC is also contributing to the growth
of the polycarbonate plastic market.

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Technavio chemicals
and materials research analysts highlight the following
three factors that are contributing to the growth of the global
polycarbonate plastic market:

• Increasing popularity of thermoplastics against conventional materials
• High demand from emerging economies
• Strong demand from automotive industry

Increasing popularity of thermoplastics against conventional materials

Thermoplastics such as polycarbonate plastic are increasingly becoming a
substitute for conventional materials such as metals, glass, and wood.
The easy availability and cost benefit are increasingly making plastics
an appropriate alternative to traditional materials, including glass,
wood, stainless steel, and ceramics.

Ajay Adhikari, a lead plastic,
polymers, and elastomers research analyst at Technavio, says, “Materials
made of polycarbonate plastic are cheap and are tear, abrasion, and
chemical resistant. Metal foils are substituted with static dissipating
polycarbonate plastic. It is used in packaging sensitive electrical
components. Ceramics are substituted with polycarbonate plastics in
tableware, both disposable and non-disposable.”

High demand from emerging economies

Polycarbonate plastic has a huge market in APAC, due to high durability,
lightweight, and innovative potential of the material. It is gaining
importance in developing regions as there are ample of opportunities for
polycarbonate plastic-based products in various end-use industries such
as food and beverage, construction, and automotive. All these industries
require polymer plastic for the production of various industry-specific
products.

“Polycarbonate plastic is gaining high importance in emerging regions
of APAC, the Middle East, Africa, and South America, with countries such
as the US, Germany, China, South Korea, Japan, and other Asian economies
leading the production of polycarbonate plastic. These regions held more
than half of the global capacity of polycarbonate plastic in 2016,”
adds Ajay.

Strong demand from automotive industry

An increase in demand from the automotive industry is a major driver
contributing to the growth of the global polycarbonate plastic market.
Polycarbonate plastic is progressively substituting standard glass and
other conventional elastomers in automotive applications. The use of
polycarbonate plastic in the automotive industry includes lighting
applications (for cars, bus, truck, and motorcycles) such as headlamp
bezels, headlamp lenses, and light housings.

The demand for polycarbonate plastic is increasing due to the high
demand for lighting applications, which has high-temperature resistance
along with impact resistance and excellent light transparency. Also,
polycarbonate plastic is increasingly being used in several automotive
applications such as car interior parts and thermoformed sheets for
cladding of railway cabins.

Top vendors:

• Asahi Kasei
• Covestro
• Chi Mei
• LG Chem
• Samsung SDI

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company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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