Driven by electrical & electronics, global Polycarbonate market to grow at 6.3% CAGR to 2020

13-Jul-15

The Polycarbonate Resin Market is projected to grow from more than US$12 bln in 2015 to US$16.4 bln by 2020, at a CAGR of 6.3% between 2015 and 2020, as per RnRMarket Research. Electrical & electronics is estimated to be the largest segment, both in terms of value as well as volume, in 2015 with a market share of more than 21.0% of the total PC market. Polycarbonate (PC) is best known for its impact resistance, but it also possesses properties, such as high optical transparency, high temperature limits, high-dimensional stability, and good electrical behavior. PCs are used in a number of applications due to their wide range of properties. These applications include electrical & electronics components, compact discs, digital versatile discs, eyeglasses, safety goggles, greenhouse enclosures, automobile headlights, outdoor fixtures, glazing, medical devices, and many others. Players in the PC market work closely with original equipment manufacturers (OEMs) and end-users to develop new and innovative products tailored to their requirements. This helps in the development of new applications for PC and in the development of the overall PC market. On the basis of application, electrical & electronics is estimated to be the largest application in 2014, and is projected to grow with the increased consumption of PC due to their excellent electrical properties. The increased usage of PC in the automotive industry, especially the increased popularity of PC in the glazing application, is the key driver of the PC market. The growth in the market is also influenced by the increased demand for Blu-Ray discs, which are made for PC. The fastest-growing application of the PC market is the medical application. The high growth in this application is also attributed to the high heat resistance property of PC, which allows it to be sterilized using any of the sterilization methods. The high impact resistance and inherent toughness of PC also reduce the risk of device failure, which could be life-threatening in certain cases of negligence. Asia-Pacific is estimated to be the largest consumer of PC in 2015, followed by the Western Europe.