New York, USA, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Polycarbonate Composites Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Polycarbonate Composites Market Information by Reinforcement, Application, And Region - Forecast till 2030”, the market is estimated to grow at a 5.8% CAGR to reach USD 3.5 Billion by 2030.
Market Synopsis
Polycarbonate composite material can be created by mixing polyvinyl with glass, minerals, carbon, and graphene. Specific mechanical characteristics of polycarbonate composites include heat resistance, high tensile strength, dimensional stability, and excellent insulation. As a result, they are widely used in many industries to produce optically transparent sliders made of strong, durable materials. Due to increased demand from end-user industries, the global market for polycarbonate composites is anticipated to expand considerably in the upcoming years. They are extensively utilized in the transportation, equipment, packaging, and electronics industries.
Polycarbonate composites are utilized in the automotive sector to create bumpers, bulletproof glasses, side windows, and headlamp lenses. Due to their distinct lightweight qualities, polycarbonate composites are in high demand in the automotive industry. Additionally, the increasing use of electric vehicles is increasing the demand for lightweight materials, propelling the expansion of the polycarbonate composite market. Researchers are concentrating on employing polycarbonate to reinforce various materials to provide the composite with a high strength-to-weight ratio. This will broaden the polycarbonate composite's range of applications and make it the perfect material for producing a variety of gadgets, including quadcopters, biomedical devices, tools, and fittings. During the forecast period, this is anticipated to enhance demand for polycarbonate composites.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 3.5 Billion |
| CAGR | 5.8% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Reinforcement, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The increasing disposable income of the middle-class population has increased the sale of electronics in developing countries. |
| The growing adoption of electric vehicles is surging the need for lightweight materials. |
Market Competitive Landscape:
The major companies in the polycarbonate composites market are:
- SABIC (Saudi Arabia)
- Teijin Limited (Japan)
- Mitsubishi Chemical Corporation (Japan)
- Samyang Corporation (South Korea)
- Nudec (Spain)
- Chi Mei Corporation (China)
- Asahi Kasei Advance Corporation (Japan)
- Formosa Chemicals & Fibre Corporation (China)
- LG Chem (South Korea)
- Trinseo (US)
- The Bond Laminates GmbH (Germany)
- Covestro (Germany)
Market U.S.P. Covered:
Market Drivers:
Polycarbonate materials are mostly polyvinyl and other materials like glass, minerals, carbon, and graphene. They're renowned for their superior insulation, high mechanical strength, and flame-retardant qualities. Because of this, they are frequently utilized in producing optically clear sliders made of robust, durable materials in several industrial sectors. Since automotive businesses are shifting toward lightweight yet high-performing materials to produce heavy steel components in vehicle bodies, the automotive industry has a sizable portion of the worldwide polycarbonate composites market. Researchers have specialized in using polycarbonate to reinforce various materials, which gives composites an amazing strength-to-weight ratio. This is expected to enhance demand for polycarbonate composites during the projected period.
Another factor that is anticipated to propel the global polycarbonate composites market is the rising use of polycarbonate in the production of medical equipment. Devices, including testing tubes, containers, and flasks, are made using them. Additionally, rising R&D efforts for enhancing the current product line and rising governmental expenditure in infrastructure improvements for the medical sector are anticipated to boost the market's expansion. In the upcoming years, the growth of the polycarbonate composites market will be significantly fueled by the medical industry. Sales of PC composites will increase over the next years due to governments making significant investments in medical infrastructure and businesses spending money on research and development to improve their current product lines.
Market Restraints:
The market for polycarbonate composites is predicted to experience slow growth due to the widespread use of plastic in most applications.
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COVID 19 Analysis
The new coronavirus has significantly hampered the development of the automotive sector. The overall demand for cars has decreased due to the global slowdown. Governments in numerous nations have also enacted travel restrictions, decreasing car demand. Disruptions in the supply chain have also slowed the car market and hampered the packaging sector's expansion. The international travel prohibition has decreased import and export activity, which is expected to hurt the packaging industry's total demand for polycarbonate composites.
Market Segmentation
By application, the market includes automotive plastic, electrical engineering, consumer electronics, and medical instruments. By reinforcement, the market includes glass fiber filled, carbon fiber filled, graphene, and aramid fibers filled.
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Regional Insights
Due to the rising utilization of polycarbonate composites in automobiles, the Asia-Pacific region held the greatest market share and is expected to remain dominating. The region's desire for lightweight, fuel-efficient automobiles will expand the regional market. The rise of the automotive industry, projected to enhance demand for polycarbonate composites, is driven by higher expenditure and soaring per capita disposable income of people in India, Indonesia, and Malaysia. Consumer electronics and automobile plastics are the two primary booming industries. The steadily increasing vehicle sales in the area are a primary driver of these sectors' strong growth. With the rise in demand for lightweight materials in the two regions' equipment, electronics, and automobile sectors, the polycarbonate composites market is anticipated to develop significantly.
Major automotive markets, including China, India, Japan, South Korea, and Thailand, have huge markets for polycarbonate composites, which are expected to rise during the projection period. Another significant market for polycarbonate composites in North America. It is anticipated that the rise in the medical, technology, and automotive sectors will fuel demand for polycarbonate composites during the projection period. Expanding the consumer technology markets in North America and Europe also contributes substantially to market expansion. Additionally, there is a significant demand for tablets, small boats, and handheld electronics in these countries, which has significantly increased the use of polycarbonate composites in consumer electronics over the past few years.
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