Polycarbonate Sheets Market Analysis & Opportunity Outlook 2023-2035

Q: What are the segments in the polycarbonate sheets market?

The market is segmented by type, end-user, and by region. Read More

Global Polycarbonate Sheets Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global polycarbonate sheets market size is estimated to reach ~USD 7 Billion by the end of 2035 by growing at a CAGR of ~8.10% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of polycarbonate sheets market was ~USD 3 Billion. The growth of the market can be attributed to the global commitment to driving toward a circular economy for plastics, by increasing the availability of more sustainable products and recyclable thermoplastics worldwide. For instance, it was found that in 2020, the production of thermoplastics around the world reached nearly 400 million metric tons. Moreover, the rising demand for engineering thermoplastics globally is further expected to boost the market growth.

In addition to these, factors that are believed to fuel the market growth of polycarbonate sheets include the rise in research and development and collaboration between major key players to manufacture more sustainable thermoplastics such as polycarbonate, which is in soaring demand in many end-use industries. For instance, a joint study proposal selected by Japan’s New Energy and Industrial Technology Development Organization (NEDO), joined by many stakeholders and managed by Tosoh Corporation and Mitsubishi Gas Chemical Company, Inc. collaborated to reduce CO2 emissions during the manufacture of polycarbonate and polyurethane. The aim is to eliminate the usage of conventional raw material phosgene from the process. Additionally, the increasing demand for more sustainable solutions, in particular with post-consumer-recycled (PCR) plastics is predicted to present the potential for market expansion over the projected period.

Global Polycarbonate Sheets Market: Growth Drivers and Challenges

Growth Drivers

Growing Demand for Polycarbonates (PC) by End-Use Industries – as its peculiar features provide design freedom to product designers, engineers, and OEMs of various industries, PC becomes suitable for use in several applications like appliances, automotive industry, consumer products, electrical & electronics, medical, food packaging, and other applications. Therefore, the rising demand for this product from these industries in the forecast period is anticipated to boost the market growth. It was found that in 2020, the total global demand for polycarbonates was little more than 4 million metric tons, whereas it reached ~4.51 million metric tons in 2022.

Rising Demand for Recycled Plastics – with the growing awareness about the increasing environmental concern and plastic pollution caused due to the growing use of non-recyclable plastics, the market for recyclable plastics is rapidly expanding. As polycarbonate is fully recyclable and based on advanced recycling, besides providing an excellent yield for plastic recycling facilities, the demand for it is anticipated to increase in the upcoming years. As per 2019 data, the production of plastics from recycled plastics worldwide has more than quadrupled from nearly 6.8 million tons (Mt) in 2000 to ~29 Mt in 2019, which was still only 6% of the size of total plastics production.
Increasing Demand from the Building & Construction Industry - polycarbonate roofing is becoming more popular and replacing glass, acrylic, and other similar materials for roofing owing to its ease of installation, durability, the passage of safe light, excellent insulation, aesthetic appeal, is augmenting the demand for these sheets in the construction industry. Hence, the growing volume of construction activities is anticipated to propel the market growth. As per recent data from January 2023, nearly 1,406,000 new housing units were completed in the U.S., an increase of 12.8% from January 2022.
Expanding Automotive and Transportation Industry – and growing use of modified polycarbonate for exterior and interior parts in automobiles owing to its high mechanical properties and good appearance is expected to boost its demand in the automotive sector. With the rising production of vehicles globally that reached around 80 million in 2021, the PC sheet market is also anticipated to grow.

Challenges

Concern about adverse effects on the environment and health - raw materials utilized in the manufacturing of polycarbonate sheets primarily involve bisphenol A (BPA) and phosgene and other petroleum-based products. These chemicals are considered toxic to the environment and human health. As per findings, long-term exposure to BPA has possible health effects on the brain of fetuses, infants, and children, and its widespread use is possibly linked with increased blood pressure, type 2 diabetes, and cardiovascular disease. Moreover, plastic pollution is a global threat to aquatic animals and other species of the ecosystem. Hence, these factors are majorly anticipated to hamper the market growth.
Fluctuating prices of raw materials
Stringent government regulatory policies

Global Polycarbonate Sheets Market Segmentation

The global polycarbonate sheets market is segmented and analyzed for demand and supply by type twin wall, multiwall, corrugated, and solid. Out of the three types of polycarbonate sheets, the multiwall segment is estimated to gain the largest market share of about ~38% in the year 2035. The growth of the segment can be attributed to the rapidly growing infrastructure worldwide as well as the augmenting global leisure and entertainment industry with an increasing number of theme parks, amusement parks, resorts, and others. It was found that in 2021, the revenues of the global leisure and entertainment industry reached more than USD 2 trillion. Multiwall polycarbonate sheets are most widely used for conservatories and lean-to roofs and hence are best suited for conservatories, canopies, vertical glazing, displays, roof lights, signage, walkways, swimming pool covers, insulation, and more.

The global polycarbonate sheets market is also segmented and analyzed for demand and supply by end-user into electrical and electronics, aerospace, defense, building and construction, automotive, and others. Amongst these three segments, the electrical and electronics segment is expected to garner a significant share of around ~46% in the year 2035. The segment growth can be attributed to the radically burgeoning global population as well as their increasing disposable income owing to which there is a surge in the demand for many consumer electronics such as laptops, printers, copiers, and mobile chargers for smartphones, among others. Moreover, the growing demand for waterproof and shockproof electrical components from the industrial sector is further expected to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global polycarbonate sheets market includes the following segments:

By Type	Twin wall Multiwall Corrugated Solid
By End User	Electrical and Electronics Aerospace Defense Building and Construction Automotive Transportation Others

Global Polycarbonate Sheets Market Regional Synopsis

The market share of polycarbonate sheets in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~31% by the end of 2035. The growth of the market can be attributed majorly to the growing industrial sector as well as the increased production output of many end-use industries such as automotive, construction, and others besides the rising investment in polycarbonate production projects by major key players to serve the growing demand of the product in the region. For instance, it was found that a major player Covestro AG invested in the production of more sustainable polycarbonates in the Asia Pacific. The delivery capability of recycled polycarbonates of the company’s first dedicated mechanical recycling production line in Shanghai is anticipated to be more than 60,000 tons per year annually by 2026.

The North American polycarbonate sheets market is estimated to be the second largest, registering a share of about ~28% by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for lightweight, impact resistant, and break-resistance materials from many end-use industries, including packaging, food & beverages, eyewear, medical, and others in the region. Moreover, the growing urbanization as well as the increasing demand for various types of thermoplastics from the construction industry which is radically prospering in the region is further anticipated to propel the market growth in the region. As per findings, the construction sector in the U.S. contributes ~ 4.3% to the total U.S. GDP.

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growing demand for sustainable products, as well as the increasing research and development investments to develop products from renewable raw materials along with the growing demand for recyclable plastics with high strength, lightweight, and relatively low processing costs to adhere to the sustainable development goals in the region, is expected to boost the market growth in the region in the provided time period.

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Top Featured Companies Dominating the Global Polycarbonate Sheets Market

Covestro AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Saudi Basic Industries Corporation
Brett Martin Ltd
Airex AG
Arla Plast AB
AGC Group
Evonik Industries AG
Palram Industries Ltd.
Teijin Limited
The Dow Chemical Company

In The News

Covestro AG one of the world’s leading manufacturers of high-quality polymer materials and their components shipped the first climate-neutral polycarbonate from its Uerdingen, Germany site, in 2021. This polycarbonate is climate neutral from cradle to the factory gate, according to a verified life cycle analysis.
Saudi Basic Industries Corporation (SABIC), a global leader in the chemical industry, launched its certified circular polycarbonate (PC) resin and blends made from the upcycling of post-consumer mixed plastic.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the polycarbonate sheets market?

Ans: The increasing use of polycarbonate sheets by end-use industries, such as construction & building, electronics, and automotive are the major factors driving the market growth.

2) What would be the CAGR of polycarbonate sheets market over the forecast period?

Ans: The market size of polycarbonate sheets is anticipated to attain a CAGR of ~8.10% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the polycarbonate sheets market growth?

Ans: Adverse effects on environment and human health are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of polycarbonate sheets market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the polycarbonate sheets market?

Ans: The major players in the market are Airex AG, Arla Plast AB, AGC Inc., Brett Martin Ltd, Covestro AG, Evonik Industries AG, Palram Industries Ltd., SABIC, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the polycarbonate sheets market?

Ans: The market is segmented by type, end-user, and by region.

8) Which segment captures the largest market size in the type segment in the polycarbonate sheets market?

Ans: The multiwall segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~8.10%
Base Year Market Size (2022)	~ USD 7 Billion
Forecast Year Market Size (2035)	~ USD 3 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)