Polycarbonates are a group of thermoplastic polymers that contain carbonate groups in chemical structures. Polycarbonates used for engineering sector are strong, durable materials and some types are optically transparent. They are easy to process, thermoform, and mold. Thus owing to these properties, polycarbonates have many uses. High demand for polycarbonate materials in end-use industries such as construction, automotive, electrical & electronics, and others will drive the market. Polycarbonate sheets applications such as billboards and id cards printing will further drive the growth of polycarbonate sheets market.
In June, 2021, Germany-based Covestro AG has declared its affiliation with carboNXT GmbH recycling specialist to reprocess the waste produced while manufacturing Covestro’s Maezio brand of CFRTP (continuous fiber-reinforced polycarbonate composites). Demand for these recycled products is high because they are valuable raw materials, as more industrial consumers and consumers are looking for a more sustainable product.
The global polycarbonate materials market is broadly diversified based on type, application, and regions. By type, the global market for is segregated polycarbonate materials into diffuser grade, clear & reflector grade, polycarbonate rubbers, polycarbonate sheets, polycarbonate resins, others. Similarly, based on the application, the global market is classified into in-house, street lights, offices, car parks, public sector, industrial, and others.
North America, especially the United States, will always play an important role in the polycarbonate materials market growth. The North American market is expected to grow significantly. The strong adoption of advanced technologies and the presence of key players in this region may create many opportunities for market growth. Asia-Pacific is poised to show significant growth trend in terms of revenue growth during the coming period. This is due to the existence of emerging economies such as India, Japan, China, and South Korea. This emerging economy has a rapidly growing consumer base such as construction, packaging, and automotive.
The global players contributing through their product offering include 3A Composites, Bayer Materialscience, Chi Mei, Thai Polycarbonate, Mitsubishi Engineering-Plastics, Lotte Chemical, Koscon Industrial, Samsung Sdi, Covestro, Trinseo, Teijin, Samyang Corporation, SABIC, and LG Chem, among others. Despite the fierce competition, given the global recovery trend, it is clear that investors are still optimistic about this area and in the future there will be even more investments in this area. One of the reasons why companies are investing more in line expansion or product growth related to polycarbonate materials is the launch of new classes of chemicals and materials, which is expected to open up completely new market avenues.