Polycarbonate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Polycarbonate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 9, 2024 /EINPresswire.com/ -- The global polycarbonate market is projected to grow from $22.82 billion in 2023 to $24.22 billion in 2024, at a CAGR of 6.2%. Despite challenges from environmental regulations and the need for sustainable materials, the market is anticipated to reach $30.16 billion by 2028, driven by the rising demand for electric vehicles and advancements in polycarbonate applications.

Rising Demand for Electric Vehicles Drives Market Growth
The rising demand for electric vehicles (EVs) is a significant factor contributing to the growth of the polycarbonate market. Polycarbonate is commonly used in EVs due to its lightweight, high-impact resistance, and optical clarity, providing enhanced safety, improved energy efficiency, and design flexibility. For instance, in September 2022, the International Energy Agency reported that electric car sales nearly doubled to 6.6 million in 2021 compared to 2020, reaching 6.5 million electric vehicles on the road. Therefore, the rising demand for electric vehicles is driving the growth of the polycarbonate market.

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Key Players and Market Trends
Major companies operating in the polycarbonate market include BASF SE, The Idemitsu Kosan Company Ltd., Saudi Arabia's Basic Industries Corporation (SABIC), LG Chem Ltd., Wanhua Chemical Group Co Ltd., Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, and Lotte Chemical Corporation. These companies are adopting a strategic partnership approach to recycle post-industrial used plastics, particularly polycarbonates. For instance, in November 2022, Covestro AG partnered with HASCO Vision Technology Co. Ltd. to retrieve used plastics from HASCO's manufacturing sites and turn them into high-quality post-industrial recycled (PIR) polycarbonates and polycarbonate blends.

Polycarbonate Market Segments:
• By Type: Foil, Strips, Sheets, Film, Plates, Tubes, Fibers, Other Types
• By Processing Technology: Injection Molding, Extrusion
• By Grade: General Purpose Grade, Flame Retardant Grade, PC Alloyed Grade, Medical Grade, Food Grade, Other Grades
• By Application: Transportation, Electrical And Electronics, Construction, Packaging, Consumer Goods, Optical Media, Medical Devices, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the polycarbonate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Polycarbonate Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Polycarbonate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on polycarbonate market size, polycarbonate market drivers and trends, polycarbonate market major players, competitors' revenues, market positioning, and market growth across geographies. The polycarbonate market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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