Polycarbonate Market Plans and Future Growth Forecast 2029
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 dimensional stability, excellent creep resistance, higher light transmission, and toughness of the product. Moreover, when the product is blended with specific polymers such as Polyethylene Terephthalate, Acrylonitrile Butadiene Styrene, and Poly Methyl Methacrylate (PMMA), it demonstrates electrical conductivity.
Fortune Business Insights™ provides this information in its research report, titled “Polycarbonate Market, 2023-2030”.
Source:
https://www.fortunebusinessinsights.com/polycarbonate-market-108509
COVID-19 Impact:
Upheavals in Supply Chain and Trade Barriers Hindered the Market Growth
The market witnessed a scarcity of end products such as face sheet masks, sheets, medical equipment, and films due to supply chain disruptions caused by the lockdown. The imposition of trade restrictions by governments of various countries to contain the virus transmission further hindered the market growth. Thus, these factors led to a negative impact on the market growth during the COVID-19 era.
Segmentation:
Cost-efficiency of Standard Purpose Grade Accelerated the Segment Growth
On the basis of grade, the market is divided into flame retardant grade, food grade, standard purpose grade, medical grade, and others. The standard purpose grade segment accounted for the largest market share in 2022. The polycarbonate belonging to the standard purpose grade is cost-effective. This factor is driving the segment growth.
Report Coverage:
The report offers vital insights into the driving and restraining factors impacting the market growth. It further highlights the key segments, the latest trends, and the COVID-19 impact on the market growth. Other aspects of the report include the key strategic initiatives undertaken by leading market players to capture the largest share.
