Albany, NY -- (SBWIRE) -- 09/21/2017 -- 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.
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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.
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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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