Market Summary
The Global Polycarbonate Composite Market is expected to
register a CAGR of 5.8% and reach around USD 3.5 Billion during the forecast
period. Polycarbonate composite is produced from bisphenol A and carbonyl
chloride. It is majorly used as an alternative to polyvinyl chloride in the
medical, electronic, and automotive industries due to its high flexibility, high
impact resistance, stiffness, and strength.
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Segment Analysis
Based on applications, the global market has been segmented into
automotive plastic, medical instruments, electrical engineering, consumer
electronics, and others.
The automotive plastic segment is the fastest growing segment
due to the shift in trend towards lightweight vehicles. Electrical engineering
is expected to grow with healthy CAGR owing to consumers inclination towards
smart devices and home appliance. Moreover, polycarbonate composite is used in
the manufacturing of medical equipment and devices such as drug delivery, cardiovascular,
respiratory devices, and surgical instrument. Its properties such as
eco-friendly processing, recyclability, toughness, high impact strength,
chemical resistance, heat resistance, and light weight make it ideal for
application in medical devices and equipment. For instance, in October 2018,
Covestro AG announced to expand its polycarbonate business by ramping up the
production in China. The company has decided to increase the total capacity of
the China-based plant by 150 kilotons per annum to meet the demand in the
medical, automotive, and electrical & electronic industries.
Competitive Analysis
Some of the key players operating in the global polycarbonate composite market are polycarbonate
composites are The Bond Laminates GmbH (Germany), Chi Mei Corporation (China),
SABIC (Saudi Arabia), Asahi Kasei Advance Corporation (Japan), LG Chem (South
Korea), Formosa Chemicals & Fibre Corporation (China), Trinseo (US),
Mitsubishi Chemical Corporation (Japan), Teijin Limited (Japan), Samyang
Corporation (South Korea), Nudec (Spain), and Covestro (Germany).
Regional Analysis
The global polycarbonate composite market, by region, has been
segregated into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa. The Asia-Pacific market is estimated to register
healthy CAGR owing to increasing production of electronics in India, Indonesia,
and Malaysia. For instance, the Electronic Industries Association of India has
reported that Indian consumer electronic application production was worth USD
7,836 million in 2016, which has increased to USD 9,090 million in 2017. Thus,
the shift in consumers lifestyle towards smart lives has surged the demand for
convenience electronic goods, which is positively influencing the polycarbonate
composite market.
The North American market is estimated to witness a substantial
growth due to the growing use of polycarbonate composite in the medical
industry. The Middle East & African and Latin American markets are expected
to register health CAGRs owing to the high demand for polycarbonate composites
in countries such as Mexico, Brazil, and GCC due to increase in automobile
production.
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