Polycarbonate Market Key Players, Strategies To Boost Industry Growth 2030
The global polycarbonate market size was valued at USD 14.54 billion in 2022. The industry is expected to expand from USD 15.11 billion in 2023 to USD 21.88 billion by 2030, exhibiting a CAGR of 5.4% over the study period. The expansion can be credited to the growing demand for the product in various end-use applications such as electrical, construction, medical equipment, and automotive. For example, blood oxygenators, blood reservoirs, face mask sheets, and blood filters used in the medical bypass circuit can be manufactured by using the product.
Fortune Business Insights™ provides this information in its research report, titled “Polycarbonate Market, 2023-2030”.
COVID-19 Impact:
Barriers to Trade Coupled with Supply Chain Issues Impeded the Market Growth
The COVID-19 pandemic negatively impacted the polycarbonate market. The lockdown disrupted the supply chains of the product, leading to a dearth of end products such as medical equipment, sheets, films, and face sheet masks. The production cost was also impacted due to the fluctuating crude oil prices. This situation resulted in the closure of production facilities by prominent manufacturers.
Source: https://www.fortunebusinessinsights.com/polycarbonate-market-108509
Segmentation:
High Availability of Standard Purpose Grade Boosted the Segment Growth
In terms of grade, the market is classified into standard purpose grade, food grade, medical grade, flame retardant grade, and others. The standard purpose grade segment dominated the market in 2022. The product of the standard purpose grade is widely available, which boosts its demand. This factor is propelling the segment expansion.
Report Coverage:
The polycarbonate market report encompasses the crucial factors that have boosted market growth in recent years. It also provides comprehensive coverage of the restraining factors, COVID-19 impact, and the key segments in the market. In addition, future market trends and ongoing industry developments have been mentioned in the report. The major competitive strategies deployed by market players have also been highlighted in the report.
