Polycarbonate films are used in wide ranges of end use industries owing to its excellent properties such as impact resistance, enhanced thermal properties, durability, optical clarity, and enhanced stability among others. The rising demand of the low VOC emitting materials coupled with the development of automotive industry throughout the globe is substantially affecting the growth of the Polycarbonate Films Market.
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The global Polycarbonate Films Market has been driven by the range of its application in various end use industries such as electronic, automotive, and medical packaging among others. Moreover, it is estimated that the optical polycarbonate films is set to witness the highest growth in the market due to the growing consumption in the automotive interiors, IMD applications, electronics and others during the forecast period, 2017-2023.
Competitive Analysis
Some of the prominent players operating in the global Polycarbonate Films Market are SABIC (Saudi Arabia), Covestro (Germany), Teijin Limited (Japan), 3M Company (U.S.), Suzhou Omay Optical Materials co., Ltd. (China), Mitsubishi Gas Chemical Company, Inc (Japan), Excelite (China), MGC Filsheet co. Ltd. (Japan) among others and Rowland Technologies (U.S.).
Market Segmentation
The global Polycarbonate Films Market is segmented into product type and end-user. On the basis of the product type, the market is segregated into optical, flame, retardant, weatherable, and others. The market by the end use industry is bifurcated into electrical and electronics, transportation, and medical packaging.
Market Scenario
The electrical and electronic end user segment is anticipated to observe a higher CAGR during the forecast period. The enhanced and superior properties of polycarbonate films like heat resistance, impact resistance among others paves the way for their use in mobile phones, LCD’s , monitors and other consumer electronic products.
Regional Analysis
The global Polycarbonate Films Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing market with an expanding CAGR. The presence of the most populated countries of the world such as India and China in this region has augmented the demand for various sectors such as electronics and automotive among others, which in turn is anticipated to fuel the demand for polycarbonate films in the region. Moreover, the growing government encouragement for the use of recyclable and environment friendly material is further adding to the growth of the market.
The European region is estimated to witness a significant growth in the countries owing to burgeoning automotive industry. The increasing use of polycarbonate films owing to its low VOC content is also fuelling its demand.
The North American market of polycarbonate films is mainly driven by the U.S. and Canada. The presence of the developed end user industries such as automotive and electronics coupled with the increasing adoption rate are the major factors contributing significantly to the growth of the market.
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