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Rising demand for spike temperature resistance is a key factor driving polycarbonate market revenue growth.

VANCOUVER, BC, CANADA, November 21, 2022 /EINPresswire.com/ -- The Global Polycarbonate Market size reached USD 21.50 Billion in 2021 and is expected to register a revenue CAGR of 5.6% during the forecast period, according to latest analysis by Emergen Research. Polycarbonate market revenue growth is driven by factors such as rising demand for spike temperature resistance, flexibility & toughness in thin sections, growing demand from electric vehicles and the medical industry, and the development of bio-based polymers. Polycarbonates (PC) are a class of thermoplastic polymers with chemical structures that contain carbonate groups. Polycarbonates are strong, durable materials that are optically transparent in some grades. They are simple to work with, mold, and thermoform.

There is an increasing need for spike temperature resistance and polycarbonate is suitable for usage in building and household items. Polycarbonate will not melt, shatter, or absorb heat at temperatures up to 1166 degrees Fahrenheit for several hours. The traditional glass melts at high temperatures and breaks easily, making it a safety hazard in many situations. Polycarbonate, in contrast to acrylic, retains its strength and transparency even after being subjected to greater temperatures for longer. Polycarbonate preserves its properties over a wide range of temperatures, from -20 to 140 degrees Celsius. It has a glass transition temperature of around 147°C, and above 155°C it gradually softens and flows. Standard polycarbonate plastics are not suitable for prolonged exposure to Ultraviolet (UV) light and may become brittle.

During the current COVID-19 (coronavirus) pandemic, medical polycarbonates and other products that use a lot of plastic are becoming more important. There has been a rise in the need for polycarbonate in intravenous (IV) supplies and syringes. The market for medical polycarbonate is expected to grow quickly, with sales of fluid delivery and IV connection parts being the main drivers.

The introduction of innovative items such as one-piece plastic face shields for coronavirus medical personnel is also driving market revenue growth. The research group at MIT in the United States has stepped up its efforts to build disposable face shields and is strongly encouraging producers in the medical polycarbonate industry to start making them in bulk. Given the serious shortages of PPE in U.S. hospitals during the COVID-19 pandemic, including face masks, protective gowns, and gloves, this trend is of paramount importance. With the development of 3D face shields that show promise in fighting the coronavirus, medical polycarbonate manufacturers can improve their standing on the international market.

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Some Key Highlights From the Report

Polycarbonate sheet segment accounted for a major revenue share in 2021. Polycarbonate sheets have substituted glass & acrylic in several applications. These sheets come in an assortment of grades and thicknesses. Compared to glass, they are significantly lighter, more robust, and immune to breaking and cracking. Traditionally, this material was mainly utilized for commercial projects owing to its prohibitive cost. Only upscale restaurants, cafes, lounges, and workplaces possessed a polycarbonate roof. However, when people became increasingly aware of its advantages, they began to choose this material more frequently. This increased the demand for the material, resulting in decreased costs.

Injection molding segment accounted for a moderate revenue share in 2021. The most prevalent method for creating polycarbonate and polycarbonate blend components is injection molding. In order to reduce polycarbonate's viscosity, it is routinely heated to high temperatures. In this procedure, the polymer melt is forced into a mold under tremendous pressure. When the mold cools, it imparts the desired shape and qualities to the molten polymer. This process is typically used to manufacture polycarbonate bottles and plates among others.

Medical device segment accounted for a significant revenue share in 2021. Polycarbonate is presently one of the most widely used and thoroughly proven synthetic thermoplastic substances in the medical device sector. Its inherent tensile strength, high thermal deformation temperatures, and high rigidity make it an ideal material for demanding vital healthcare applications. Polycarbonate has been used safely in this business for decades. It meets the company's requirements for keeping the highest level of success, safety, and stability in order to save the lives and well-being of people.

Market in Asia Pacific accounted for a moderate revenue share in 2021. The high share is attributable to the availability of appropriate raw materials and low-cost labor, which persuades enterprises from a diverse range of sectors to establish manufacturing facilities in the region in order to gain huge returns. In accordance with its existing rules, the Food Safety and Standards Authority of India (FSSAI) has taken more steps toward legalizing the use of recycled plastics in Food-Contact Materials (FCMs). FSSAI issued a Notice of Proposed Regulations on May 17, 2022, soliciting public comment on a proposed amendment to allow the use of recycled Polyethylene Terephthalate (rPET) in food-contact applications.

On April 28, 2021, SABIC, a global leader in the chemical sector, announced its partnership with NUDEC, S.A., a pioneer in the production of transparent plastic sheets for a wide range of industries including construction, and machinery protection. NUDEC, headquartered in Barcelona, Spain, will utilize SABIC's LEXAN Polycarbonate (PC) resin derived from approved renewable feedstock in a variety of end products for these industries.

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Radical Highlights of the Polycarbonate Market Report:
Comprehensive overview of the Polycarbonate market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Polycarbonate market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

The leading market contenders listed in the report are:
Covestro AG, SABIC, Lotte Chemical Corporation, Tejin Limited, Mitsubishi Engineering Plastics Corporation, Trinseo, Lone Star Chemical, CHIMEI, Entec Polymers, RTP Company, LG Chem

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

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Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019–2030)
Plates
Sheets
Films
Foil
Strip
Others

Grades Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019–2030)
Injection Molding
Extrusion
Others

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019–2030)
Electronics & Electrical
Automotive
Packaging
Consumer Goods
Medical Devices
Construction
Optical Media

Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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