Global polycarbonate sheets & films market size is forecast to reach $2.2 billion by 2025, after growing at a CAGR of 5% during 2020-2025, owing to the rise in utilization of polycarbonate sheets and films in various end-use industries such as construction, electronics and automotive, because of its superior properties such as high impact force, electrical resistance, visible light transmittance, UV resistant and dielectric strength. The polycarbonate sheets and films are replacing glazing glasses in the automotive sector because of its advanced properties such as low weight, virtual unbreakability, structural efficiency, optical clarity and glass like transparency, which will further increase the demand for polycarbonate sheets and films in the market during the forecast period.
- Asia Pacific dominates the global polycarbonate sheets and films market, owing to the rising demand of lightweight and weather resistant materials from the automotive, construction and electronics sectors in the region.
- The electrons in polycarbonate sheets and films are more restricted, which prevents the flow of electricity and carbonate linkage in polycarbonate sheets and films allows the material to be compatible with Polyvinyl Chloride (PVC) and acrylic based inks, which in increasing its demand in the market.
- The manufacturing process of polycarbonate sheets and films is not environmental friendly since it requires high processing temperature. There are chances of emission of phosgene, which could pollute the environment and may restrain the polycarbonate sheets and films market growth.
- Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which the construction projects and operations are disruptively stopped, which is hampering the polycarbonate sheets and films market growth.
By Type – Segment Analysis
The solid polycarbonate sheet and film holds the largest share in the global polycarbonate sheets & films market in 2019, owing to its superior properties such as UV resistant, high thermal insulation, excellent rigidity, light transmission, flame retardant, weather resistant, lightweight and impact resistant. All these extensive properties make it a preferred product for applications across a range of manufacturing and business sectors including electrical and electronics, aerospace, building and construction, telecommunications, machines industries, medical etc. Solid polycarbonate sheets are being widely used in porticos, gardens, roof sheds, terraces and swimming pool area, as these sheets provide better physical and thermal properties as compared to other polycarbonate sheets. Thus, the enhanced properties of solid polycarbonate sheets and films as compared to other polycarbonate sheets and films is anticipated to boost the polycarbonate sheets and films market globally during the forecast period.
By End Use Industry – Segment Analysis
The building and construction segment holds the largest share in the global polycarbonate sheets & films market in 2019 and is growing at a CAGR of 5.3%, owing to the wide usage of polycarbonate sheets and films in the building and constructing activities such as windows, skylights, wall panels, LED lighting and roof domes. There is an increasing demand for polycarbonate sheets and films to build cladding panels, barrel vaults, translucent walls, skylights and louvers, as polycarbonates can be processed into stressed curves for arches or simple paneling by using thermoforming, a heat-based thermoplastic shaping technique. The energy codes and standards are driving the skylight, as a necessity for residential and non-residential building, which is increasing its adoption in most of the buildings, which will substantially drive the polycarbonate sheets and films market in the building and construction sector during the forecast period.
By Geography – Segment Analysis
Asia Pacific region holds the largest share in the global polycarbonate sheets & films market in 2019 up to 30%, owing to rising building and construction activities in countries such as China, India, Vietnam and Singapore due to population growth, increased disposable income, industrial growth and rising per capita income of the individuals. Also, increasing Foreign Direct Investment have accelerated construction activities in countries such as India and China as it encouraged international companies to build production units in other countries. The population growth is resulting in the need for more residential and commercial sectors. Moreover, in India, the government has initiated projects, such as ‘100 smart cities’ and ‘Housing for All by 2022,’ which are expected to drive the Indian residential construction market over the forecast period. Such investments and initiatives in the construction industry by the government in APAC are anticipated to drive the global polycarbonate sheets and films market in Asia Pacific during the forecast period.
Drivers – Global Polycarbonate Sheets and Films Market
- Growing Demand From Electronic and Electrical Sector
Polycarbonate sheets and films are good electrical insulator, have high heat resistance and flame retardancy properties because of which it is used in various electrical accessories, hardware gadgets and telecommunication products. There is an increasing demand for polycarbonate sheets and films from the electronic and electrical sector as they are used for constructing sensor parts, LCD sections, switching relays, computers, cell phones, connectors, CDs, DVDs. Polycarbonate sheets and films are in demand from the electronic and electrical industries as they are one of the safest and most durable materials to construct light weight accessories, which acts as a driver for polycarbonate sheets and films market during the forecast period.
- Growing Demand From Automotive and Aerospace Sector
Owing to the superior properties of polycarbonate sheets and films such as light weight, heat resistance, flexibility, low dampness ingestion and dimensional security, polycarbonate sheets and films are commonly used in the automotive and aerospace industries. These sheets provide optimal configuration to make parts of the vehicles and aircrafts such as entry handles, front light bezels, internal focal points, backlit instrument panels, protective wire, cable casings and radiator flame broils. There is an increasing demand of polycarbonate sheets and films from the automotive and aerospace sector as they have high flame and impact resistance properties, which make them the safest choices for dangerous and high-heat applications.
Challenges – Global Polycarbonate Sheets and Films Market
- High Cost of Polycarbonate Sheets and Films
The synthesis of polycarbonates is an important process to manufacture polycarbonate sheets and films. phosgene and Bisphenol A or Bisphenol A and Diphenyl are reacted at a temperature between 180°C and 220°C which yields polycarbonate and phenol molecules. These manufacturing processes results in a lot of impurities. Also, the manufacturing process need higher temperature which may require advanced equipment and thus increases the production cost. Polycarbonate sheets and films are much more expensive than plastic or glass and as a result, customers opt for Acrylonitrile Butadiene Styrene (ABS) which is tougher, but not impact and heat resistant, which may act as a hindrance for the polycarbonate sheets and films market during the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the polycarbonate sheets and films market. In 2019, the market of polycarbonate sheets and films has been consolidated by the top five players accounting for xx% of the share. Major players in the polycarbonate sheets and films market are Composites GmbH, Arla Plast AB, Brett Martin, Covestro, Chi Mei Corporation, DS Smith, Koscon Industrial SA, LG Chem, Lotte Chemical Corporation, Mitsubishi Gas Chemical, Company Inc., Plazit-Polygal Group, SABIC, Samyang Kasei, Suzhou Omay Optical Materials Co. Ltd., Teijin Limited and Trinseo.
- In January, 2020 Serafin Group acquired the European polycarbonates sheets business of Covestro, which comprises manufacturing units in Belgium and Italy, central management operations and sales support in Europe.
- In January, 2020 Covestro launched three new medical-grade polycarbonates: Makrolon® M204 LF, Makrolon® M402 LF and Makrolon® M404 LF to meet challenging low-friction requirements.