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Market Analysis: Polycarbonate Resin Market, PU Films Market and Iron Powder Market forecasted for 2023-2030

Market Analysis: Polycarbonate Resin Market, PU Films Market and Iron Powder Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 1, 2023/EINPresswire.com/ -- The Polycarbonate Resin Market is expected to grow from USD 13.39 Million in 2022 to USD 22.03 Million by 2030, at a CAGR of 7.37% during the forecast period.Due to its broad range of uses across numerous end-use industries, including automotive, electronics, healthcare, packaging, and construction, the polycarbonate resin market is expanding significantly. The need for polycarbonate resin is being driven by the rising need for lightweight, high-performance materials in the automobile sector to increase fuel economy and lower CO2 emissions. The market is expanding as a result of the increasing use of polycarbonate resin in the manufacture of electronic components such lenses, LCD panels, and optical discs.

There are two main types of polycarbonate resin:

• Phosgene Type
• Non-Phosgene Type

Phosgene type polycarbonate resin is produced using phosgene gas in a reaction between bisphenol A and carbonyl chloride. Alternatively, non-phosgene type polycarbonate resin is manufactured using non-phosgene routes, which are safer and environmentally friendly compared to phosgene type.

Polycarbonate resin is widely used across various industries due to its unique properties such as high impact resistance, transparency, and durability. In consumer electronics, it is used for the manufacturing of laptops, mobile phone casings, and tablets. In the automotive industry, it is used to create headlamp lenses, instrument panels, and exterior components. Polycarbonate resin is also used in packaging for food and beverages, medical devices, and personal care products.

The market share of polycarbonate resin in the Asia-Pacific region is expected to be around 45-50% of the global market.The market share of polycarbonate resin in North America and Europe is expected to be around 20-25% and 15-20%, respectively.Furthermore, the Middle East and Africa, and Latin America regions are also expected to witness moderate growth in the demand for polycarbonate resin. The market share of polycarbonate resin in these regions is expected to be around 10-15% and 5-10%, respectively.

The major players operating in the market are Covestro AG, SABIC, Mitsubishi Chemical Corporation, Lotte Chemical Corporation, Teijin Limited, Idemitsu Kosan Co., Ltd., Trinseo, CHIMEI Corporation, LG Chem Ltd, Samyang Kasei Co., Ltd., Zhetie Daphoon Chemicals, Wanhua Chemical Group Co., Ltd., Luxi Chemical Group Co., Ltd., and Lihuayi Weiyuan Chemical Co., Ltd.

According to their financial performance, some of the aforementioned companies have reported the following sales revenues in 2020:

- SABIC: USD 18.8 billion
- Covestro AG: EUR 10.7 billion
- Teijin Limited: JPY 745.7 billion
- Mitsubishi Chemical Corporation: JPY 1.675 trillion
- LG Chem Ltd: KRW 28.68 trillion

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The PU Films Market is expected to grow from USD 890.90 Million in 2022 to USD 1237.00 Million by 2030, at a CAGR of 4.80% during the forecast period.The PU films market is growing significantly due to various factors such as increasing demand for high-performance materials in various end-use applications, including automotive, construction, healthcare, and packaging.
The target market for PU films includes several industries such as automotive, healthcare, packaging, textiles, and construction. The automotive industry is expected to dominate the market due to the increasing demand for lightweight and fuel-efficient vehicles. Additionally, the healthcare industry is also emerging as a significant market supported by the growing popularity of the use of PU films in medical products like bandages, surgical aprons, and gauges.

Two main types of PU films are:

• Polyester PU Films
• Polyether PU Films

Polyester PU films are made from a combination of polyester and PU resins, making them strong and rigid. These films are often used in items such as membrane switches, hot stamping foils, and credit cards. On the other hand, polyether PU films are softer and more flexible due to the use of polyether-based resins

PU films find application in various industries such as automotive, construction, aerospace & defense, medical & healthcare, textile, sports shoes and clothing, and others. In the automotive industry, PU films are used for making airbag covers, car seats, and headrests. In the construction industry, it is used for waterproofing and insulation purposes. In the medical industry, PU films are used for making wound dressings and for drug delivery.

The Asia-Pacific region is expected to dominate the PU Films market, with a market share of around 40% in the upcoming years. This can be attributed to the rise in industrialization, urbanization, and infrastructural development in countries such as China and India. North America and Europe are also expected to hold significant market shares of around 25% each, owing to the increasing demand for PU films in the automotive and construction industries in these regions. Latin America and Middle East & Africa are likely to witness moderate growth in the PU Films market, with a market share of around 5% each. Overall, the global PU Films market is expected to reach a valuation of around USD 1.6 billion by 2025.

Some of the major players operating in the market include Covestro, SWM, Xionglin, Dingzing, Huntsman, Jiayang, Breathtex, Okura Industrial, Zhejiang Huanlong, Jiaxing Nanxiong Polymer, Takeda Sangyo, Dongguan TongLong, Permali Ltd, Taorun TPU, Novotex Italiana SpA, American Polyfilm, Wiman, Polysan, Asher Co., Ltd.

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The Iron Powder Market is expected to grow from USD 1.80 Billion in 2022 to USD 2.40 Billion by 2030, at a CAGR of 4.00% during the forecast period.The Iron Powder market is a promising segment within the metal powder industry. Iron Powder is a finely powdered form of elemental iron derived from its ores and is used in various applications. The global Iron Powder market is expected to witness significant growth in the upcoming years, owing to increasing demand from end-use industries such as food fortification, chemical, and metallurgy.

The market is segmented into three categories:

• Atomized Iron Powder
• Reduced Iron Powder
• Other Iron Powder

Iron powder is a material with versatile properties, making it applicable to a variety of industries. In powder metallurgy, it is used to create high-strength and precision parts through compaction and sintering techniques. It is also a crucial component in manufacturing welding electrodes, where it functions as a filler metal. In the chemical industry, it is utilized as a reducing agent and catalyst. Additionally, iron powder is utilized in various applications, including magnetic paints, soil fertilizers, and abrasive materials.

The global iron powder market is expected to grow significantly in regions including North America, Asia-Pacific (APAC), Europe, the United States, and China. In North America, the market growth can be attributed to the increasing usage of iron powder in various industries such as automotive, aerospace, and construction. In APAC, the growing demand for iron powder in the manufacturing of tools and machinery, coupled with the region's expanding construction and infrastructure activities, are expected to boost market growth. In Europe, the demand for iron powder is primarily driven by the automotive and aerospace industries. Similarly, the United States and China are expected to witness significant growth in the iron powder market due to the increasing demand for steel and iron-based products.

Hoganas, GKN (Hoeganaes), Rio Tinto Metal Powders, Laiwu Iron&Steel Group, Kobelco, Jiande Yitong, JFE Steel Corporation, Pometon Powder, Baowu Group, Ma Steel, CNPC Powder Material, Xinxing, Jinsui, Industrial Metal Powders, Sundram Fasteners, and Kushal Ferro Alloys are some of the significant companies operating in the iron powder market.

According to publically available data, Hoganas reported sales revenue of USD 1.3 billion in 2019, and GKN (Hoeganaes) reported sales of $820 million, while Laiwu Iron & Steel Group had sales revenue of $490 million in the same period.

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Amrita Pandey
Prime PR Wire
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