Global polycarbonate market is anticipated to witness high growth on account of widespread use in various end-use industries including automotives, electrical & electronics and construction. Polycarbonates can easily be molded and thermoformed. Hence they are employed in the manufacture of plastic bottles in the food & beverage industry. Furthermore, polycarbonate aids in the reduction of overall weight of a vehicle. Growing demand for lightweight vehicles in various regions is anticipated to boost demand for polycarbonate in the automobile industry over the next seven years. Easy cleaning and sterilization coupled with high tensile strength properties of polycarbonate material is anticipated to propel its demand in the packaging sector. Development of inexpensive scratch resistant polycarbonates is anticipated to open new market avenues over the forecast period. Asia Pacific was the largest polycarbonate market in the past few years and is anticipated to be the fastest growing over the next seven years. Rapid industrialization coupled with growing disposable income of consumers particularly in India, Malaysia, China and Indonesia are anticipated to drive polycarbonate market in Asia Pacific.
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In addition, increasing government expenditure for infrastructural development particularly in China and India coupled with positive outlook in the construction sector in North America particularly in the U.S. is likely to propel polycarbonate market over the forecast period. Growing automobile and electrical & electronic industry in North America and Europe is expected to fuel polycarbonate demand in these regions. However, rising threats from substitutes including polypropylene, polyesters and polystyrene is likely to hamper market growth. In addition, raw material volatility and technological challenges faced by polycarbonate manufacturers to develop high quality and improved resins is expected to further challenge market growth over the next seven years.
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Key players present in the polycarbonate market include SABIC Innovative Plastics, Bayer MaterialScience, Centroplast Engineering Plastics GmbH, Chi Mei Corporation, Asahi Kasei Chemical Corporation, Mitsubishi Engineering Plastics Corporation, Royal DSM, Teijin Limited, Idemitsu Kosan Co., Ltd., and Styron. Most of the major companies have global presence and their supply and distribution divisions primarily focus on M&As and joint ventures with various end-use companies. In June 2014, Bayer MaterialScience consolidated its polycarbonate sheet business through plant closures and divestments in Asia Pacific and Europe.
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