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.
Competitive Analysis
·
The Bond Laminates GmbH
·
Chi Mei Corporation
·
SABIC
·
Asahi Kasei Advance Corporation
·
LG Chem
·
Formosa Chemicals & Fibre Corporation
·
Trinseo
·
Mitsubishi Chemical Corporation
·
Teijin Limited
·
Samyang Corporation
·
Nudec
·
Covestro
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.
Regional Analysis
The 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.
COVID-19 Impact Analysis
on Aluminum Extruded Products Market@ https://www.marketresearchfuture.com/report/covid-19-impact-aluminum-extruded-products-market
COVID-19 Impact on
Self-Healing Materials Market@ https://www.marketresearchfuture.com/report/covid-19-impact-self-healing-materials-market
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