Global Polycarbonate Market: Snapshot

Polycarbonate, a high-performance thermoplastic polymer manufactured from phosgene and bisphenol A (BPA) as key feedstock, finds extensive usage in a number of applications. The excellent physical properties of the material, including high resistance to heat and UV rays, excellent structural rigidity, and high level of transparency, and easy ways of enhancing them using specialty additives makes polycarbonate indispensable across a vast number of industries. Over the past few years, the global polycarbonate market has witnessed growth at a steady pace owing to high demand across the automotive, consumer electronics, and packaging industries. 

The increased demand for fuel-efficient lightweight vehicles is the key factor attributable to polycarbonates’ excellent demand across the automotive industry. High level of transparency and excellent structural rigidity promise excellent usability for the material in the packaging industry. In the consumer electronics industry, the material finds usage owing to its excellent flame retardancy, impact resistance, and optical clarity. In the near future, the demand for polycarbonates is expected to remain healthy on a global front owing to steady growth of most of its key end-use industries.

Transparency Market Research estimates that the global polycarbonate market will expand at a healthy 6.2% CAGR from 2014 to 2020, rising to a valuation of US$19.6 bn by 2020. 

Demand from Electronics and Automotive Industries to Remain Market’s Key Driver

On the basis of application, the report segments the global polycarbonate market into packaging, optical media, construction, electronics, automotive, tableware, and medical implants industries. Of these, the electronics industry accounted for a dominant share in overall consumption of polycarbonates in 2013. The electronics industry also remained the dominant contributor of revenue to the global market in the same year. 

Over the report’s forecast period, the automotive segment is expected to lead to the most promising growth prospects for the global polycarbonates market, chiefly owing to the rising demand for lightweight vehicles. The segment of optical media is expected to lose a considerable share in the global market owing to the rising level of digitization and increased adoption of cloud-based storage and data processing solutions. The demand for polycarbonates across niche application areas such as tableware and medical implants are expected to exhibit moderate growth over the forecast period owing to the vast availability of substitutes. 

Asia Pacific Market to Remain Bullish in Global Polycarbonate Market

From a geographical standpoint, the global market for polycarbonates is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, the Asia Pacific market single-handedly steered the global polycarbonate market towards an excellent growth path in 2013, accounting for a massive 60% of the global market’s overall valuation. The excellent growth observed in a number of end-use industries in the region in the recent past is attributable to the vast demand for polycarbonates. 

The Asia Pacific market is also expected to remain the most important driver of the global polycarbonates market owing to the thriving industrial sector, presence of several consumer electronics manufacturers, rising demand for vehicles, and rising GDPs across emerging economies such as China and India. Europe held the second-largest share in the global market and is expected to remain a key contributor of revenue to the global market owing to the high demand for lightweight vehicles and a thriving automotive industry. 

The vendor landscape of the global polycarbonate market features a high level of concentration the dominance of few large vendors. The top five companies in the market collectively constituted over 90% of the global market in 2013. Some of the leading players in the market are Teijin Limited, Bayer MaterialScience AG, Idemitsu Kosan Co., Ltd., SABIC Innovative Plastics, Chi Mei Corporation, Mitsubishi Engineering-Plastics Corporation, Trinseo (Styron), Centroplast Engineering Plastics GmbH, Asahi Kasei Chemical Corporation, and Royal DSM.

Polycarbonate, a thermoplastic polymer, is used widely in various applications as it offers properties such as high impact resistance, transparency, flame retardancy and high structural rigidity. Polycarbonate can be processed using extrusion and injection molding techniques to develop products with different properties and shapes. Additives can be added to the polymer while processing in order to enhance its processing efficiency and physical properties. 
This report covers the estimate and forecast of the polycarbonate market on a global and regional level. The report includes estimation of demand for polycarbonates for 2013 and forecast for the period from 2014 to 2020 in terms of volume (Kilo tons) and revenue (US$ Mn) for the regional and global markets.
The study also analyzes various factors driving the growth of the polycarbonate industry. It also includes restraints that are affecting market growth. A detailed analysis of the impact of these drivers and restraints during the forecast period has been included. Furthermore, the report evaluates opportunities available in the market at the global and regional level. 
The report includes value chain analysis to provide value addition at each stage and understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various players involved in the polycarbonate industry, from raw material suppliers to end-users. Porter’s five forces model has been used to determine the impact of various factors such as degree of competition, bargaining power of suppliers, threat from substitutes, bargaining power of buyers and threat from new entrants during the forecast period. Company market share analysis has been included for better understanding of the competitive landscape. Furthermore, the report comprises market attractiveness analysis, which analyzes the application segments that are expected to be lucrative during the forecast period on the basis of their market size and growth rate. Attractiveness of the market has been derived from market size, profit margin, growth rate, availability of raw materials, competition and other factors such as social and legal constraints. 
The polycarbonate market has been segmented based on applications, which include automotive, electronics, construction, optical media, packaging and others. Detailed analysis of all segments in the regional and global markets, and forecast based on current and future trends of the industry in terms of volume (Kilo Tons) and revenue (US$ Mn) have been included in the report. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Demand for polycarbonate in various applications in these regions has been analyzed and forecast for a period of six years. 
We use a combination of primary and secondary research to determine the market estimate and forecast. Secondary research sources that were typically referred to include, but were not limited to company websites, independent studies, technical journals, annual reports, trade magazines, financial reports, and SEC filings. Other information sources such as internal and external proprietary databases, government documents, statistical databases and market reports, company’s news articles, industry specific magazines and webcasts specific to companies operating in the market have also been referred for the report. 
Primary research includes in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents bulk of the research efforts, supplemented by an extensive secondary research. Key players’ product literature, annual reports, press releases and relevant documents were reviewed for competitive analysis and market understanding. Primary research helps in validating and strengthening the secondary research findings. 
The report also covers profiles of leading companies in the polycarbonate industry. Companies profiled in the report include Bayer MaterialScience AG, Trinseo (Styron), Mitsubishi Engineering-Plastics Corporation, and Teijin Limited. Various attributes of these companies such as company overview, financial overview, business strategies, recent developments, new product launches, expansion, alliances, and partnerships constitute the company profiles section.
This report segments the global polycarbonate market as follows:
  • Polycarbonate  Market - Application Analysis
    • Automotive
    • Electronics
    • Construction
    • Optical media
    • Packaging
    • Others (Including Medical implants, Tableware, etc.)
  • Polycarbonate Market - Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World