Dublin, June 19, 2024 (GLOBE NEWSWIRE) -- The "Global Polycarbonate Resin Market by Application (Electrical & Electronics, Optical Media, Construction, Consumer, Automotive, Packaging, Medical), and Region (Asia Pacific, Europe, North America, Middle East & Africa) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
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 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.
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.
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.
The report provides insights on the following pointers:
- Analysis of drivers (Growing demand from automotive industry, Rapid urbanization and infrastructure development), restraints (Residual BPA in food packaging and medical applications), opportunities (High applicability in electronics) and challenges (Intense competition from alternative materials) influencing the growth of polycarbonate resin market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and mergers & acquisitions in the polycarbonate resin market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for polycarbonate resin market across regions.
- Market Diversification: Exhaustive information about new products % services, untapped geographies, recent developments and investments in the polycarbonate resin market
- Market Penetration: Comprehensive information on the polycarbonate resin market offered by top players in the global market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the polycarbonate resin
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $15.3 Billion |
| Forecasted Market Value (USD) by 2029 | $20.1 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Companies Featured
- Covestro AG
- Sabic
- Mitsubishi Engineering-Plastics Corporation
- Lotte Chemical Corporation
- Teijin Limited
- LG Chem
- Formosa Chemicals & Fibre Corporation
- Trinseo PLC
- Chimei
- Idemitsu Kosan Co. Ltd.
- China Petroleum Corporation (Sinopec)
- Samyang (Advanced Materials)
- Rtp Company
- Sumika Styron Polycarbonate Limited
- Srf
- Kazanorgsintez (Sibur Holding Pjsc)
- Xiamen Keyuan Plastic Co. Ltd.
- Thai Polycarbonate Co. Ltd.
- Emco Industrial Plastics, LLC
- Wanhua Chemical Group
- Luxi Group
- Nahata Plastics
- Celanese Corporation
- Ensinger
- Forever Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/16ncjf
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