PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1481485
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1481485
The polycarbonate resin market size was estimated to be USD 15.3 billion in 2024 and is projected to reach USD 20.1 billion by 2029 at a CAGR of 5.5% between 2024 and 2029. The growth of the polycarbonate resin market is boosted by its increased demand in applications in the automotive industry, especially in the glazing application. The growing demand from the consumer sector is also one of the key drivers of the polycarbonate resin market.
Scope of the Report | |
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Years Considered for the Study | 2019-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Volume (Kilo Tons), Value (USD Billion) |
Segments | Application and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
"By application, construction industry accounted for the third largest market during the forecast period."
The construction industry represents a significant market for polycarbonate resin due to its wide-ranging applications and advantageous properties. One of the primary applications of polycarbonate in construction is in skylights and roofing panels. The lightweight nature of polycarbonate makes it easy to handle and install, while its high impact resistance and UV stability ensure long-lasting performance in outdoor environments. Polycarbonate roofing panels provide excellent weather protection, allowing natural light to enter buildings while reducing the need f bor artificial lighting.
"Europe is projected to account for the second largest market in the polycarbonate resin market during the forecast period."
The countries considered for the market in Europe include Germany, France, Italy, UK, and Spain, among others. The major factors driving demand for polycarbonate resin in Western Europe include the increased demand in the automotive industry. Stringent regulations regarding fuel efficiency are applicable in Europe, which drives manufacturers to search for more lightweight and durable materials for manufacturing vehicles. Polycarbonate resin is lightweight, tough, and has excellent optical transparency. The growth of the polycarbonate resin market in Europe can be attributed to the rising demand from key end-use industries such as building & construction and packaging. Major manufacturers include SABIC, Covestro AG, TRINSEO S.A., TEIJIN LIMITED, and Mitsubishi Gas Chemical Company, Inc.
By Company Type: Tier 1: 30%, Tier 2: 35%, and Tier 3: 35%
By Designation: C-level Executives: 20%, Directors: 40%, and Others: 40%
By Region: North America: 20%, Europe: 30%, Asia Pacific: 40%, South America: 5%, and Middle East & Africa: 5%
Companies Covered: The top market players involved in the polycarbonate resin business are SABIC Innovative Plastics (US), Covestro (Germany), TEIJIN LTD. (Japan), Mitsubishi Engineering-Plastics Corporation (Japan), and LG Chem (South Korea)..
Research Coverage
The market study covers the Plastics market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the polycarbonate resin market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall polycarbonate resin market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies.