Market Size of polycarbonate (pc) Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 20.62 Billion |
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Market Size (2029) | USD 28.84 Billion |
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Largest Share by End User Industry | Electrical and Electronics |
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CAGR (2024 - 2029) | 6.94 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Polycarbonate (PC) Market Analysis
The Polycarbonate (PC) Market size is estimated at 20.62 billion USD in 2024, and is expected to reach 28.84 billion USD by 2029, growing at a CAGR of 6.94% during the forecast period (2024-2029).
20.62 Billion
Market Size in 2024 (USD)
28.84 Billion
Market Size in 2029 (USD)
6.76 %
CAGR (2017-2023)
6.94 %
CAGR (2024-2029)
Largest Market by End-user Industry
35.65 %
value share, Electrical and Electronics, 2023
Owing to the widespread application of polycarbonate materials, majorly in device enclosures and screen panels, the electronics segment held the largest share of the market.
Fastest Growing Market by End-user Industry
7.95 %
Projected CAGR, Electrical and Electronics, 2024-2029
Due to its physical properties, heat resistance, and versatility, polycarbonate is suitable for electronic components, which is expected to witness the fastest growth during the forecast period.
Largest Market by Region
62.32 %
value share, Asia-Pacific, 2023
Asia-Pacific has the largest manufacturing hubs globally, with countries like China, India, and Japan hosting major industries like automotive, construction, and electronics. Thus, Asia-Pacific held the largest share of the global PC resin market.
Fastest Growing Market by Region
8.16 %
Projected CAGR, Africa, 2024-2029
Owing to its construction industry's significant long-term development strategies, Africa is projected to register the fastest growth in the polycarbonate market over the forecast period.
Leading Market Player
26.26 %
market share, Covestro AG, 2022
Covestro is the largest polycarbonate producer, with a capacity of 1,680 kilotons. It is also carrying out major capacity expansions in the Asia-Pacific region, positioning the company as a market leader.
Rising consumer electronics market to majorly boost polycarbonate demand
- Polycarbonates have numerous applications in almost every industry because of their transparency, excellent toughness, thermal stability, and dimensional stability. The global polycarbonate market held 16.87% of the revenue of overall engineering plastics in 2022.
- Electrical and electronics is the largest and fastest-growing end-user industry in the market owing to the wide use of PC resin in a variety of applications globally. The rising trend of high-strength and lightweight material in consumer electronics is expected to drive the demand for polycarbonate resin. Global consumer electronics revenue is projected to reach USD 1152.88 billion by 2028, registering a CAGR of 2.32%. The electrical and electronics industry is the fastest-growing end-user industry in the market globally, and it is expected to register a CAGR of 8.09% during the forecast period (2023-2029).
- Building and construction is the second-largest consumer of polycarbonate resin globally, with a projected CAGR of 6.78% during the forecast period (2023-2029). The revenue of the global construction industry is expected to grow steadily over the next few years. By 2030, it is projected to be more than twice as big as it was in 2020. The size of the construction market amounted to USD 6.4 trillion in 2020, and it is expected to reach USD 14.4 trillion by 2030. As a result, the increase in construction output is projected to drive the demand for polycarbonate resin in the future.
- After electrical and electronics, aerospace is the second-fastest end-user industry in the market. It is projected to witness a CAGR of 7.3% in revenue during the forecast period. This growth can be attributed to the increasing use of polycarbonate resin in aerospace windshields and windows as a composite material to reduce weight and increase strength.
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Understand The Key Trends Shaping This Market
Growing manufacturing of electronics in the Middle East is making it a larger market
- Polycarbonate is used globally for various industries, including automotive, aerospace, electrical and electronics, and many others. Regions such as Asia-Pacific, Europe, and North America are the leading consumer regions of polycarbonate resin in the global market. The demand for the global polycarbonate market has increased by 7.88% in 2022 compared to the previous year.
- Asia-Pacific is the largest consumer of this resin owing to the growing aerospace, automotive, electrical, and electronics sectors in the region. The electrical and electronics industry and vehicle production majorly led the polycarbonate market with a share of around 45.95% and 11.8% by volume, respectively, in 2022 in the region. The rising automotive, electrical, and electronics production is expected to drive the demand for polycarbonate resin.
- Europe's demand for polycarbonate resin is increasing significantly due to rising vehicle production, electrical and electronics, and others. European Union is the second-largest vehicle producer. In 2022, the region produced 17 million units, which is 12.27% by volume of the entire region. The region's electrical and electronics market is also expanding, and it is expected to reach a value of USD 186.5 billion in 2023. These factors are expected to drive the demand for polycarbonate resin in Europe during the forecast period.
- Africa is the fastest-growing region for polycarbonate resin, which is anticipated to register a CAGR of 7.68% by revenue during the forecast period (2023-2029). The rise in electrical and electronics production along with increasing demand for hybrid vehicles in the region, is driving the demand for the resin.
