Global Polycarbonate Market Size Will Reach $29.12 Billion in 2024

Global Polycarbonate Market Overview

According to Global Market Monitor, the global market size will reach $29.12 billion in 2024 with a CAGR of 6.28% from 2024 to 2029.

Polycarbonates (PC) are a group of thermoplastic polymers containing carbonate groups in their chemical structures. They are easily worked, molded, and thermoformed. Because of these properties, polycarbonates find many applications. Polycarbonates have numerous applications in almost every industry because of their transparency, excellent toughness, thermal stability, and dimensional stability.

Market Drivers

Polycarbonate demand in automotive applications has increased significantly in recent years. It is easily moldable and flexible, being ideal for thermoforming applications. Some plastic compounds are resistant and durable, while others are optically transparent, making them easy to manufacture. Furthermore, rising expenditure on public infrastructure, particularly metro-rail, and greenfield airports, will increase demand for PC resins in construction and mass transportation systems. In conventional internal combustion engines, automakers primarily use semi-crystalline materials. The growing digitalization trend in the automotive industry will create new requirements that may need to be addressed differently than in the past. Polycarbonates have long been an important part of the automotive industry, and they continue to provide innovative solutions to electric power companies and OEMs when it comes to mechanical performance and volume production challenges. These factors are driving the revenue growth of the polycarbonate market.

Growth in the Electronics and Appliances Industry is Expected to Boost the Market.

Polycarbonates are widely utilized in the electrical and electronics industries to manufacture a wide range of corresponding equipment. Switching relays, LCD sections, sensor parts, cell phones, connections, and computers are some of the most commonly used parts due to their minimal weight and significant strength. Due to the high efficiency of polycarbonates as thermal insulators, they are commonly used for wire insulation in the electrical and electronics sectors. Electrical and electronics is the largest and fastest-growing end-user industry in the market owing to the wide use of PC resin in a variety of applications globally. The rising trend of high-strength and lightweight material in consumer electronics is expected to drive the demand for polycarbonate resin.Meanwhile,the increase in construction output is projected to drive the demand for polycarbonate resin in the future.With the increased use of polycarbonate resin in aerospace windshields and windows as a composite material to reduce weight and increase strength, the market share will also lift. The packaging application category is likely to present the most growth potential for polycarbonate compounding, as the product's steam and dry heat resilience has been critical in replacing other thermosets and glass materials.

By Application	Electronic Components
	Construction Materials
	Automobile
	Packaging
	Medical
	Others
	The electronic components segment occupied the biggest share.