The global polycarbonate resins market is estimated to grow at a CAGR of nearly 5.2% during the forecast period. The major factors encouraging the market growth include superior properties of polycarbonate resins and significant application in the automotive industry. Polycarbonate (PC) holds excellent toughness, very good dimensional stability, transparency, and thermal stability. This makes polycarbonates one of the most significantly used engineering thermoplastics. Electrical components, headlamp lenses, compact discs, baby feeding bottles, riot shields, safety helmets, and vandal-proof glazing, are all typical applications of polycarbonate. As per the British Plastics Federation, polycarbonate remains one of the emerging engineering plastics owing to the increasing new applications.

Polycarbonates can maintain rigidity up to 140°C and toughness down to -20°C or special grades even lower. It is an amorphous polymer, which, in turn, shows high dimensional stability and excellent mechanical properties, and is thermally resistant up to 135°C. Polycarbonate resins are widely used in automotive interior and exterior applications. Such materials have been approved to global OEM standards and offer efficient properties including high transparency, UV stability, ductility, and toughness. High-flow polycarbonate resin grades are optimized for thin-wall design in automotive applications. Polycarbonate resin allows automakers to produce stronger, lighter, and more durable components. Typical polycarbonate blend applications comprise dashboards, automotive lighting, interior cladding, headlamp lenses, and exterior parts such as body panels and bumpers.

The vehicles interior design has a major impact on the purchasing decision of consumers. To meet the expectation of consumers, current automotive interior designs significantly feature improved functionality of component while keeping stylish, luxurious appearance. Polycarbonate resins and blends provides a suitable combination of surface quality and durability at high temperature and high mechanical performance which is required to ensure innovations for the performance of interiors. Polycarbonates enable to produce more appealing interiors whether required for structural components including colorful, high/low-gloss or leather-like interior surfaces, instrument panels, light guides, or decorative film based back injected parts. Therefore, polycarbonate resins are significantly used in automotive applications as an engineered plastic to increase mechanical strength and enhance the appearance of vehicles.

Market Segmentation

The global polycarbonate resins market is classified based on applications, which is further segmented into electrical and electronics, automotive, consumer goods, construction, packaging, medical, optical media, and others. 

Polycarbonate Resins Find Significant Applications in Electrical and Electronics

Polycarbonate resins have potential applications in electrical and electronics as it holds better electrical resistance. It is used in several electrical and electronic devices, such as housings, smartphones, battery boxes, connectors, and more. Polycarbonate resins also possess superior heat resistance and insulation properties. Additionally, its flame retarding characteristics are gradually multiplying its areas of application in electrical components and hardware. Novel applications, such as smart grid electric systems and 3D printing is expected to offer potential opportunity for polycarbonate resins in electrical and electronics. The electrical industry is shifting towards smarter power management, which is expected to fuel the adoption of thermoplastics that possess better signal transmission properties. This makes thermoplastics compatible with smart circuit breakers, socket, smart switch, and smart metering solutions.

Global Polycarbonate Resins Market Share by Application, 2019 (%)

Regional Outlook

Geographically, in 2019, Asia-Pacific held the largest share in the market owing to the significant production base of electrical and electronics products and the presence of some crucial polycarbonate resin manufacturers such as Mitsubishi Chemical Corp., Samyang Holdings Corp., and Teijin Ltd. in the region. Samyang Kasei is the first polycarbonate resin manufacturing company in South Korea, produces 120,000 tons in a year. Significant rise in the construction industry is expected to further accelerate the adoption of polycarbonate resins in the region. Polycarbonate is known as an appropriate alternative to glass in several glazing applications, including security windows, agricultural houses, skylights, industry or public building, facades, and shelters as it holds beneficial properties of high impact strength, resistance to UV light, transparency, and weatherability.

Global Polycarbonate Resins Market Growth, by Region 2020-2026

Market Players Outlook 

Some prominent players in the market include SABIC (Saudi Basic Industries Corp.), Covestro AG, Mitsubishi Chemical Corp., Teijin Ltd., and Idemitsu Kosan Co., Ltd. Product launches, mergers and acquisitions, and partnerships and collaborations are some crucial strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in October 2019, SABIC declared the introduction of the first polycarbonate based on certified renewable feedstock. It will offer SABIC and its customers with a solution that can reduce both CO2 emissions and the utilization of fossil feedstock during production. 

Customers can utilize this polycarbonate resin on their current equipment, under the same process conditions. SABIC’s polycarbonate based on the International Sustainability and Carbon Certification PLUS (ISCC PLUS) certified feedstock will be developed initially at its production facilities in the Netherlands, with its availability across the globe in the future. This polycarbonate resin may be used for applications in all segments, including building & construction, automotive, electronics and electrical, consumer, and healthcare.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global polycarbonate resins market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.