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Polycarbonate Resin Market size is a thermoplastic which is derived from bisphenol A and phosgene. Polycarbonate are polymers which have organic functional groups linked together by carbonate groups. It is an amorphous polymer which offers an exclusive combination of toughness with excellent impact strength. It also exhibits excellent creep, high temperature resistance and optical clarity. This is a low-density product which can be easily molded by injection /extrusion molding techniques.Polycarbonate resin is available in various colors and allows transmission of light nearly in the same capacity as glass. Such superior properties make it suitable to be used in the electronics industry. Rising developments in the electronic industry would result in rising demand for the product as it is increasingly used in manufacturing switches, plugs, switchgears, circuit breakers, lighting appliances, connectors, etc.
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By grade, the polycarbonate resin market is segmented into commercial grade and medical grade. Healthcare grade is likely to attain a significant CAGR in the coming years due to increasing production of medical devices. Polycarbonate resin is extensively used in medical devices like blood oxygenators, surgical instruments, blood reservoirs, IV tubes, and blood filters.
Transparency property of the medical grade permits to observe fluid in the tube or see blocks in an IV tube, while durability & dimensional stability promotes tight connections with negligible risk of leaking. This is a high purity grade and its biocompatibility is maintained according to ISO standard. The commercial is likely to grow at a significant CAGR in the coming years.
Developments in the global automotive industry will augment the polycarbonate resin market during the study period. This due to its extensive usage in interiors and exterior of the vehicle. The global motor vehicle production increased from 84.2 million units in 2012 to 95.6 million units in 2018.
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Such rising trend in automotive production will augment the polycarbonate resin market size in the forecast timeframe. This is due to the polycarbonate resin usage in headlamps, interior lightings, side windows, bumpers, radiators etc. Increasing demand for light weight vehicles in the global automotive industry will further boost the demand for this thermoplastic as it offers highest strength with low weight.
Based on application, the industry is further categorized into automotive, optical, electronics, consumer, sheets & films, medical, packaging and others. Polycarbonate resins are used in production of consumer items like toys, furniture’s, household goods, etc. Polycarbonate resin is strong, stable, and heat resistant making it apt to make outdoor furniture’s. This product is also used for sheet & film extrusion applications. It is also extensively used in packaging applications like beverage containers, dairy, frozen food, bakery etc. These products are FDA compliant, make it suitable for these applications. Medical segment is expected to grow at a significant CARG in the coming years due to the product usage in manufacturing medical equipment’s.
Rising growth in the packaging industry in Asia Pacific will make this region a significant polycarbonate resin market size in the coming years. At present, Asia Pacific is considered to have the largest share in the global packaging industry and is even expected to continue this trend in the upcoming years as well. The reason for such a consistent growth rate is justified by major players shifting their manufacturing base to developed nations of the region like India and China due to the availability of low production and labor costs in the countries. Polycarbonate resin is also used in the medical sector in diverse instruments and components. Increasing U.S. government spending in medical industry makes North America a potential market for polycarbonate resin in the forecast timeframe.
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Some of the key market players of polycarbonate resin market are Bayer Material Science, Mitsubishi Engineering-Plastics Corporation, Trinseo S.A., SABIC, Teijin Limited, Chi Mei Corporation, Kotec Corporation, Covestro AG, etc.
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