The Global Polycarbonate Resins market is forecast to reach USD 23.91 Billion by 2027, according to a new report by Reports and Data. Polycarbonate resins can be described as rigid, transparent polymers having excellent temperature characteristics ranging from -20 to 1400C. It is mainly market under Makrolon® and Lexan®; however, various other manufacturers produce this polymer. It was originally developed by GE in the US and Bayer in Germany. The material has a history of applications requiring impact resistance and optical clarity like face shields and bank-teller windows two such common uses. It is worth mentioning here that, though it has high impact resistance, it is not scratch-proof and requires a coating with harder material. It also witnessed applications in arenas requiring transmission of light, in which there is a high risk of impact like security windows, machinery guards, safety glasses, prescription lenses, motorcycle face shields, and windscreens, among others. In this kind of resins, additive is used to enhance its resistance to UV light that can result in discoloration like in fogging. Thus, wide application areas are boosting the overall growth of the market.
In regards to region, Europe can be seen to hold a considerable share of the market. The market share held by this region is attributed to expanding healthcare sector, high demand for consumer goods, and automotive, which is supporting the expansion of the industry in this region.
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Further key findings from the report suggest
- The Polycarbonate Resins market held a market share of USD 14.06 Billion in the year 2018 that is forecasted to grow at a rate of 6.0% during the forecast period.
- In context to Grade, the Medical grade segment is projected to witness a considerable growth rate of 8.4% during the forecast period, which is expected to occupy more than 10.0% of the market by 2027. The growth rate witnessed by the Medical grade segment is attributed to the fact that PC resin has stability at high temperature that makes it applicable for manufacturing medical devices that requires steam-sterilization, which contributes to the growth rate witnessed by this segment. These medical devices can also be sterilized with radiation and ethylene oxide through a limited number of cycles. It is widely used in medical devices like insulin pens, high-pressure syringes, and surgical instruments, among others.
- In context to Sales Channel, the Offline segment held a larger market share of more than 60.0% in 2018, with a CAGR of 5.6% during the forecast period. The fact that high sale channel is the conventional channel for selling products that provides with the scope for creating personal trust and loyalty with customers results in its high preference among manufacturers of this resin contributing to the market share held by this segment.
- In regards to Application, the Automotive segment is projected to witness a considerable growth rate of 6.8% during the forecast period, which held more than 10.0% of the market in 2018. The continuous expansion of the automotive sector associated with elevating demand for lightweight and heavy-duty vehicles is resulting in the growing popularity and use of this resin in the automotive industry.
- In regards to the region, North America is projected to witness a considerable growth rate of 6.1% during the forecast period, which is expected to hold more than 20.0% of the market by 2027. The growth rate witnessed by the region is attributed to the expanding automotive sector, healthcare sector, and rising demand for electrical & electronics products that is supporting the expansion of the industry in this region.
- Key participants include Bayer Materialscience Ag, SABIC Innovative Plastics, Teijin Ltd., Bayer Materialscience Ag, Chi Mei Corporation, Mitsubishi Engineering-Plastics Corporation, LG Chem Ltd., Formosa Chemicals & Fiber Corporation, Samyang Corporation and Samsung Sdi Co., Ltd.
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For the purpose of this report, Reports and Data have segmented the global Polycarbonate Resins market according to Grade, Sales Channel, Application, and Region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Commercial grade
- Medical grade
Sales Channel Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Electrical & electronics
- Automotive
- Building & construction
- Consumer goods
- Medical
- Optical Media
- Packaging
- Others
Regional analysis covers analysis of production and consumption ratio in each region, expected market growth, regional revenue contribution, revenue estimation, expected growth rate, along with a country-wise analysis to offer deeper insights into the regional spread of the market. it also assesses the current and emerging trends in each region and presence of key players.
Based on regions, the global Polycarbonate Resins market has been segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Comprehensive Overview of the Report:
- In-depth analysis of the upstream raw materials, downstream buyers, key vendors and manufacturers, and raw material sourcing
- R&D activities, product advancements, and strategic alliances adopted by key companies
- Analysis of challenges, drivers, constraints, opportunities, risks, and future prospects of the Polycarbonate Resins industry
- SWOT analysis of each market player to provide an in-depth understanding of the competitive landscape
- Historical analysis and a comprehensive forecast analysis is offered in the report
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