Polycarbonate Resin Market 2024-2029: Share, Growth, Top Companies, Regional Insights and Opportunities
The polycarbonate resin market is projected to reach USD 20.1 billion by 2029, at a CAGR of 5.5% from USD 15.3 billion in 2024. The market growth is driven by influencing factors such as growing demand from automotive industry and rapid urbanization and infrastructure development.
The key global players in the polycarbonate resin market include Covestro AG (Germany), SABIC (Saudi Arabia), Mitsubishi Engineering-Plastics Corporation (Japan), Lotte Chemical Corporation (South Korea), Teijin Limited (Japan), LG Chem (South Korea), Formosa Chemicals and Fibre Corporation (Taiwan), Trinseo PLC (US), Chimei (Taiwan), and Idemitsu Kosan Co., Ltd. (Japan) and others. These companies are strong in their home region and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.
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“Asia Pacific captures the largest share in the polycarbonate resin market during the forecast period, in terms of value.”
The Asia Pacific region is projected to dominate the polycarbonate resin market in terms of value during the forecast period. This significant market share can be attributed to the region's robust industrial growth, increasing demand for polycarbonate in various applications such as automotive, electronics, and construction, and the presence of major manufacturers. Economic development and rising urbanization in countries like China, India, and Japan further fuel the demand for polycarbonate resins, solidifying Asia Pacific's leading position in the market.
Covestro AG
Covestro AG is among the world’s top manufacturers of high-quality polymer materials and their components. The company primarily operates under two business segments: Performance Materials and Solutions & Specialties. The company’s product line includes polycarbonate resins, adhesives, coatings, paints, inks, composites, elastomers, specialty films, foams, plastics, and thermoplastic polyurethane. Covestro offers polycarbonate resins under the brand “Makrolon”. This brand is available in seven different grades, which provide different properties such as high viscosity, and easy release. The company offers its products to automotive, cosmetics, electronics, energy, healthcare, industrial & agricultural applications, marine, ships, packaging, rail, and security. It has a global presence in North America, Europe, Asia Pacific, and Middle East & Africa.
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Sabic
Sabic is a global leader in the chemicals segment. The company is ranked among the world’s largest petrochemical manufacturers. It produces distinctly different kinds of products through four businesses: Petrochemicals, Agri-nutrients, Specialties, and Metals (Hadeed). It offers various products including acrylonitrile butadiene styrene, carbon black, polyamide, polybutylene terephthalate (PBT), polycarbonates, polyethylene, PET, chemicals, DAP, anhydrous ammonia, prilled urea, technical grade urea, polyetherimide, and thermoplastic polyamide. The company offers polycarbonate resins under the petrochemical business segment. It offers polycarbonate resins under the brand ‘Lexan’ & ‘Sabic’. The company has a global presence, operates in the industrial city of Al-Jubail on the Arabian Gulf, as well as in Yanbu on the Red Sea. In addition, SABIC’s manufacturing, sales, technology, and innovation facilities are located globally. They are managed by four regional offices: the Middle East and Africa, Asia, the Americas, and Europe.
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