The global polycarbonate sheet market size was valued at USD 3.22 billion in 2016. It is anticipated to grow at a compound annual growth rate (CAGR) of 4.5% from 2018 to 2025. Continuous innovations in plastic technologies and the advent of cheaper interior furnishings in the automobile industry lowering carbon emissions remain the key market drivers.
The technically advanced sheets provide an excellent combination of brightness and uniformity. The high-grade products are used extensively to smooth out LEDs for a brighter atmosphere with no hot spots, thus designing the best light. Owing to several properties such as impact and heat resistance, longer lifespan, better insulation, light diffusion, and UV protection, and easy installation, the polycarbonate sheet market is anticipated to attract high investments. Industry participants such as Covestro are deploying polycarbonate sheet solutions for energy-efficient LED lighting technology. The company manufactured transparent solid sheets; Makrolon SX and Makrolon DX Sky that consist of micro prismatic optics providing glare-free interior lightning. Compliance to DIN EN 12464-1 standard and a Unified Glare Rating (UGR) of 19 will boost the product marketability.
Building and construction emerged as the fastest-growing application accounting for 29.63% of the revenue share in 2016. Increasing the requirement of the product for skylight roofing, cladding, and greenhouses among others is a major factor driving demand for polycarbonate sheets.
The Asia Pacific is anticipated to remain a key consumer of polycarbonate sheets owing to a significant rise in demand from the automotive, aerospace, and construction industries. The presence of a strong supply chain network and key market players who constantly strive to enhance their existing product portfolios to cater to a larger market base is anticipated to propel regional growth in the foreseeable future.
The rise in disposable income coupled with favorable government schemes for the food processing industry is significantly driving the food sector in the U.S. and Europe. High food-contact grade innovative products are mainly preferred for food packaging. Stringent regulations against waste disposal are projected to bring significant changes in the plastic industry.
Numerous investments have been made in the past couple of years to strengthen the market presence of companies and to help achieve a redundant supply chain making the product easily accessible globally. Several multinational organizations are investing in European markets, which in turn, is estimated to expand Greenfield plants and other allied operations that demand a constant supply of polycarbonate sheets.
In 2012, the global production capacity of polycarbonate increased significantly, with the majority of demand garnered by the Asia Pacific. Expanding end-use industries in the Asia Pacific is responsible for high production and consumption in this region. Countries such as China, Japan, and India are increasingly exporting these materials to meet growing demand from electronics and transportation industries in other regions.
Building and construction applications are on the rise since numerous architects are realizing the benefits of polycarbonate sheets in skylight roofing, cladding, and other applications that require high aesthetic appeal with durability and sustainability.
The product is also used owing to its lightweight and durability, high impact and heat resistance, high optical clarity, and other such properties. It is an effective substitute to acrylic sheets or glass materials and thus the consumption is expected to rise significantly in the foreseeable future. Glass-clad laminates also offer resistance to high-powered ballistics and are therefore extensively used in the industry.
These sheets are extensively used in the packaging industry. The product provides daylight solutions to the majority of the problems owing to its characteristics such as light in weight, break and abrasion resistance, and enhanced durability. They provide a variety of profiles, surface textures, and shades for packaging materials.
Transportation is observed to be one of the fast-growing application segments. Expanding the aerospace and automotive sector in emerging economies is a major driving force for this equipment in several large and medium Original Equipment manufacturers (OEMs), aftermarkets, and others. High heat polycarbonate sheet is used for headlamp lenses, light housings, and headlamp bezels, and lighting applications that demand high temperature and impact resistance as well as excellent light transparency.
The U.S. Environment Protection Agency (EPA) determines control techniques and guidelines regarding carbon emissions from various automobiles, mentioned in the Clean Air Act, effective October 2008. Thus, the demand for fuel-efficient cars and industrial machinery using lightweight components has also witnessed a significant rise over the past decade. The rapid rise in demand for automobiles in emerging economies is also projected to drive growth for interiors, exteriors, and underhood components.
Windows and skylights remain the major application scope in the building and construction industry, as these sheets allow light to enter. They have high optical clarity, excellent flammability resistance, and high impact and heat resistance properties. From cladding panels to canopies, they are extensively used in the sector, across the globe. This factor is anticipated to bode well for the growth of the market for polycarbonate sheets over the forecast period.
Polycarbonate sheets provide adequate UV protection and uniform heat distribution in various modern agriculture applications including ecological parks, greenhouses, and livestock breeding. For instance, Israel-based firm Palram manufactures Suntuf Plus polycarbonate greenhouse panels which use condensation controls to enhance light transmission and minimize moisture-related disease caused by dripping.
Aerospace and defense are one of the major consumers of polycarbonate sheets globally. The product finds extensive application in the military-grade protections owing to high safety concerns. Military-grade sheets exceed federal government blast hazard mitigation standards and are therefore used extensively as fire-resistant products. Several market players are investing in the manufacturing of aircraft-grade polycarbonate products. For instance, U.S. company Professional Plastics developed FAA flammability certified products; Pro-mirror and Pro-lens both offering superior gloss control, flame retardance, impact resistance and dimensional tolerances
Based on regional segmentation, the market for polycarbonate sheets has been segmented into Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa. The Asia Pacific accounted for a majority of the global market share owing to rapid industrialization and fast-growing economic conditions.
Expanding end-use industries in the Asia Pacific, especially in emerging economies such as India, China, Thailand, and Indonesia are driving demand for substitution of conventional materials such as glass, wood, metal, and others.
The Middle East and Africa are anticipated to witness high product requirements owing to the exponential rise in demand for miniaturized and specialized consumer electronics. Technological innovations are also driving industry growth since numerous automobile producers are seeking avenues to lower car weight to reduce carbon emissions.
China is the leading country in the Asia Pacific in terms of the fast-growing aviation market, with a year-on-year rise of 15.1%. The requirement is majorly rising from the aviation industry for interior decorations and other such applications, to reduce the weight of the vehicle and to effectively increase fuel economy. This, in turn, is forecasted to foster the growth of the product in the region over the forecast period.
North America and Europe represent a relatively saturated market share owing to the maturity of end-use industries, such as construction, automotive, and others. However, lucrative opportunities may be presented by packaging industries owing to the demand for individually packaged consumer goods from small and nuclear families. The reduced energy prices owing to the collapse in crude oil prices are anticipated to boost consumer spending. This is the main driver for the economic recovery of this region. Additionally, stringent fuel & carbon emission regulations such as the Corporate Average Fuel Economy (CAFE) and other regulations by the U.S. Environmental Protection Agency are promoting lightweight materials in automobiles to reduce weight & improve the overall efficiency & performance of these vehicles.
The market is marked by the presence of four multinationals such as Covestro, SABIC, Lotte Chemicals, and Teijin Industries. These companies are engaged in continuous R&D to maintain their strong market position.
The primary processing occurs from a reaction of its pre-cursor - bisphenol A (BPA), Sodium Hydroxide, Cyclohexane, and several other additives. The integrated value chain starts with the globally recognized companies involved primarily in supplying raw material to meet increasing requirements from the manufacturing units. SABIC, DuPont, Chi Mei Corporation, and Bayer among others are the significant market players in terms of raw material supplies.
Companies such as SABIC are integrated along the value chain from Polycarbonate Sheets to raw materials production. This enables companies to reduce raw material procurement costs and diversify their operations into various industries that are served by the raw materials such as packaging, consumer goods, food and beverage, laboratory, and industrial among others. Companies such as Chi Mei Corp., Idemitsu Kosan Co. Ltd., RTP, and others provide BPA which is an essential ingredient in the manufacturing of Polycarbonate Sheets.
Distributors such as JPS Company K., Flexituff Industries, and Bayer provide products to automobiles, optical devices, construction, industrial, electronics, consumer goods, and other end-use industries. Suppliers such as RTP Company are also integrated backward to provide raw materials such as BPA to cut down on overall costs of manufacturing and raw material supply.
Companies constantly invest in R&D activities to develop a diverse range of products thereby increasing their application scope and business prospect on a global scale. These multinationals sustain as market leaders owing to strong and efficient supply chain networks as well as constant product innovations to cater to more application segments.
In April 2023, Trinseo announced the inauguration of its polycarbonate (PC) dissolution pilot facility in Terneuzen, the Netherlands. This will enable them to extract 100% recycled polycarbonate for the development of new materials and is a major step towards a sustainable future.
Revenue forecast in 2025
USD 4.91 billion
CAGR of 4.5% from 2017 to 2025
The base year for estimation
Actual estimates/Historical data
2014 - 2015
2017 - 2025
Volume in million tons, revenue in USD million and CAGR from 2017 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, Germany, France, Italy, Russia, China, India, Japan Brazil, Saudi Arabia, Mexico
Revenue forecast, company share, competitive landscape, and growth factors and trends
15% free customization scope (equivalent to 5 analysts working days)
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This report forecasts revenue and revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global polycarbonate sheet market report based on application and region.
Application Outlook (Volume, Million Tons; Revenue, USD Million, 2014 - 2025)
Building & Construction
Aerospace & Defense
Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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