Zion Market Research has published a new report titled “Polycarbonate Market for Electronics, Packaging, Construction, Automotive, Optical Media and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.” According to the report, global demand for polycarbonate was valued at USD 13.50 billion in 2014 and is expected to reach USD 18.50 billion in 2020, growing at a CAGR of 5.8% between 2015 and 2020.
Polycarbonate is thermoplastic polymers produced from phosgene and bisphenol A (BPA). The other trade names for polycarbonate are Lexan and Marolon. The polycarbonate is the tough material having few grades that are optically transparent. This material is widely used in the engineering and various applications. It offers properties such as extrusion and injection molding technique to develop products with various shapes and size, excellent heat and UV resistance, and thermo-formation.
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Polycarbonate market is primarily driven by growing demand from automotive industry across the globe. Increasing demand for food and beverage packaging and the medical packaging application is expected to boost the growth of the polycarbonate market during the years to come. However, environmental issue related with this polymer is major challenges that may hinder the growth of the market.
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The polycarbonate market has been segmented based on application into automotive, electronics, construction, optical media, packaging industry and others. In 2014, the electronics was the dominant application segment in terms of total revenue generated and it accounted around 25% shares of the market. Heavy consumption of polycarbonate in the automotive industry is expected to be a major factor driving the market growth worldwide. Polycarbonate helps to reduce the weight of vehicle which increases the fuel efficiency and reduces the impact on the environment.
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Asia-Pacific was the largest regional market for polycarbonate and accounted for over 65% share of the total demand in 2014. Growth in use of polycarbonate in various applications is also expected to boost demand for polycarbonate in the years to come. Europe was the second largest market for polycarbonate in 2014. This was majorly due to high demand for light weight and high strength material for the automotive and electronics application.
Some of the key player in the polycarbonate market includes Bayer Material Science AG, Mitsubishi Engineering-Plastics Corporation, Trinseo (Styron), and Teijin Limited, SABIC Innovative Plastics, Chi Mei Corporation, Centroplast Engineering Plastics GmbH, Royal DSM, Aashi Kasei Chemical Corporation, Idemistu Kosan Co., Ltd and amongst others.
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