Polycarbonate Resins Market Estimated to Record Highest CAGR by 2019 to 2029

The latest Fact.MR study indicates that ~ 5,006 KT of polycarbonate resins were sold in 2018, and it is anticipated that the sales will rise by ~4% in 2019. The global polycarbonate resins market is highly likely to witness steady growth in the foreseeable years, which will primarily be driven by the radical increase in its applications in various industry verticals. Fact.MR study presents the long-term outlook of the polycarbonate resins market for 2019 to 2029. The polycarbonate resins market is envisaged to register a volume CAGR of ~4% through 2029. Rapidly expanding applications in building & construction industry, which led to ~30% of total sales of polycarbonate resins in 2018, will continue to create lucrative growth avenues for stakeholders through 2029, says the report.

Important regions covered in the polycarbonate resins market report include:

• North America (Canada, US)
• Latin America (Argentina, Mexico)
• Europe (NORDIC, UK)
• MEA and Japan
• APEJ (China, India)

The polycarbonate resins market report also provides data regarding the key countries in the defined regions.

Though applications in medical industry are currently at a nascent stage, Fact.MR’s analysis indicates that polycarbonate resins are likely to discover highly lucrative application opportunities in the medical industry, with extensive usage expected in wearable medical devices. Polycarbonate resins’ exceptional properties make it a safe and durable choice of material for housing medical components. The study indicates that the industry’s efforts on the development of advanced polycarbonate resin grades for the medical device and healthcare OEMs will gather pace, as a number of manufacturers shift their focus on squeezing margins out of untapped end-use areas. For instance, Covestro has developed polycarbonate resin medical grade for thermal wellness wearable, a bracelet type wearable device manufactured by Embr Labs.

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According to the study, gains will continue to remain concentrated in the automotive industry, as the blooming trend of lightweight components is pushing the adoption of polycarbonate resins in auto manufacturing. With the industry’s move towards the fuel-efficient future, the adoption of polycarbonate resins in the manufacturing of lightweight automotive components will be on the constant rise. Applications in automotive industry contributed to sales of ~734 KT of polycarbonate resins in 2018, which is highly likely to grow further for potential use in the manufacturing of hybrid components. The ongoing trend of hybrid speedometer will further push the development and demand for customized polycarbonate resin material.

Innovation- Opening Doors to New Applications

The Fact.MR study opines that several manufacturers have delved into technologically advanced manufacturing approaches to keep their offerings at par with the need of the cutting-edge end use products. Smart grid electric system, which has polycarbonate resins as a building block, is emerging as a mine of opportunities for manufacturers, as the demand for these systems is notably rising since the recent past. Innovation of novel systems that offer continuous monitoring and communication using smart meters is gaining traction in the electrical industry.

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East Asia – The Frontrunner

While the production and adoption of polycarbonate resins continue to pick pace at a global level, East Asia remains the promising investment pocket for stakeholders. East Asia accounted for more than half of the overall sales of polycarbonate resins, with China emerging as a gain generator for market players. For instance, Covestro has announced its plan to expand polycarbonate resin production capacity to 600 KT by 2020 in Caojing, China plant. Moreover, several market players in East Asia are also expanding polycarbonate resins production capacity to secure maximum possible gains out of the potential rise in the demand for this highly flexibility material from various industries.