Global Polycarbonate Market to Exceed USD 25.3 Bn by 2024, Predicts Grand View Research in Its New Reports Available at MarketPublishers.com
29 Nov 2016 • by Natalie Aster
LONDON – At present, polycarbonate (PC) is recognized as a completely recyclable polymer, therefore, it is favored as an alternative substitute to PVC, especially in medical devices. PC resins provide greater tensile strength and flexural modulus, they can be easily processed and also blended with some other resins.
Regulatory initiatives are driving automotive OEMs to use plastics, as a means to improve fuel efficiency and reduce weight; this is expected to spur growth in the polycarbonate market.
The world’s polycarbonate market value is likely to exceed USD 25.3 billion by the year 2024.
In the past several years, regulation norms adopted to reduce plastics wastage has accelerated the roe of recycling. Therefore, PC resins (as they are completely recyclable) are predicted to benefit from these regulations, and in turn, ease up the world supply constraints.
Transportation and electrical & electronics sectors remained top application sectors in the previous year, accounting for around a half of the overall polycarbonate consumption.
The worldwide demand for polycarbonate crossed 4.3 million tonnes in the past year. Through 2024, it is anticipated to increase at a 6.9% CAGR and will exceed USD 7.7 million tonnes.
APAC offers impressive opportunities for producers as resin requirements from construction and automotive industries anticipated to increase considerably as a result of growing investments in public infrastructure and passenger car production. China is the top consumer of polycarbonate in the APAC region, accounting for a 60% share of the regional consumption.
The new report by Grand View Research, Inc. titled “Polycarbonate Market Analysis By Application And Segment Forecasts To 2024” presents in-depth insights into the world’s polycarbonate market landscape, touches upon the scenario across the key geographical markets and also highlights the major factor shaping the market. It offers updated statistics and info on competitive landscape and top players. Additionally, this report offers a comprehensive future outlook for the polycarbonate industry through 2024.
For other insightful research reports by this publisher follow to the Grand View Research catalogue.