Market Research Future Published a Half Cooked Research “Global Polycarbonate Market Research Report – Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027.
SABIC, Mitsubishi Engineering Plastics, Formosa, LG Chem, Bayer, Trinseo, EVONIK INDUSTRIES, EPSE, Covestro, Dow Chemicals, and TEIJIN among others are some of the prominent players operating at the forefront of competition in the Global Polycarbonate Market and are profiled in MRFR Analysis.
Polycarbonate Market – Market Overview
According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), international organization consisting members form 39 countries, automotive industry has produced overall 94.97 million vehicles expanding at 4.5% annual growth in 2016. Changing Lifestyle, economic development in emerging countries, increasing purchasing power of middle income strata have led the greater adoption of commercial as well as consumer vehicles over the past five years. In addition to this, rapid industrialization fuelling the demand for commercial vehicles and aircrafts year on year. Asia Pacific held major share of the market in 2016 on account of the presence of leading end users such as automotive and building & construction industries.
Growing demand for light weight vehicles in automotive industry is likely favour growth of the market. As per the industry experts, this trend may continue in the coming years on the backdrop of rising concerns over natural resource. This may consolidate the demand for Polycarbonate. Increasing research & development activities along with growing focus on technological innovations expected to boost the growth of this market over the review period. On the other hand, global market growth is held back by increasing environmental concerns. Moreover, consistent price fluctuations in the raw material prices, due to changing crude oil prices, also anticipated to limit the growth of this market.
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Polycarbonate Market- Competitive Landscape
The Global Polycarbonate is a mature market driven by flourishing growth in construction and automotive industry, along with the flourishing transportation sector. Trinseo, Formosa, Covestro, TEIJIN, SABIC are the major shareholders in this market. Majority of the key market participants are investing in the expansion of their production capacities to strengthen their market position. After addressing dynamic growth in automotive industry, and construction industry experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market. Taking into account these trends, the global polycarbonate market is likely to witness considerable competition over the forecast period of 2017-2027.
Industry/ Innovation/ Related News:
January 26, 2017- Trinseo Holding B.V., a wholly owned subsidiary of Trinseo S.A and a Japan based leading chemical company Sumitomo Chemical Co., Ltd, entered into an agreement wherin, Trinseo has sold all of its 50 percent share in their Sumika Styron Polycarbonate (SSPC) joint venture to Sumitomo Chemical for an undisclosed price. The parties have agreed to continue long-term supply of polycarbonate resin to Trinseo’s Performance Plastics businesses and as such will maintain the strategic relationship between SSPC and Trinseo. As a result of this agreement SSPC is operating as a wholly owned subsidiary of Sumitomo Chemical and renamed as Sumika Polycarbonate Limited after a transitional period.
May 16, 2017- The Germany based materials company Covestro has announced the plan to expand polycarbonate production capacity at its plant in Shanghai, China. The company doubled its polycarbonate production capacity at the facility to 400,000 tonnes per year in October last year. This new investment has brought the total capacity to 600,000 tonnes per year.
June 19, 2017– Japan base chemical, pharmaceutical and information Technology Company, Teijin Limited has launched the world’s first polycarbonate (PC)-resin pillar-less automotive front window for use in the Tommykaira ZZ, a sporty electric vehicle (EV) produced by GLM Co., Ltd., an EV manufacturer launched by Kyoto University. This development is expected to add into the growing demand from the automotive industry.
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