The global polycarbonate market has several players and technological advancements is instilling competitiveness among them. While the product finds uses in several industries, existing players are pumping in more money to identify niche applications. In order to sustain in the market, companies are also looking at improving quality of the polycarbonate resins they offer.
At the same time, technology has also aided new players to come out with innovations grabbing the attention of unexplored customers. This has opened fresh avenues for the global polycarbonate market. Some of the key players in the global polycarbonate market today are Teijin Limited, Chi Mei Corporation, and Idemitsu Kosan Company Ltd.
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A Transparency Market Research report suggests that the global polycarbonate market will grow at a steady rate of 6.20% from 2014 to 2020. The market is projected to reach US$ 19.6 billion by the end of 2020.
Geographically, Asia Pacific is predicted to hold 59% share of the global polycarbonate market. The rapid industrialization due fast-developing economies in India and China along with the high demand for cell phones and electronics in the region are the major drivers. Europe will continue to remain prominent in the next few years.
Application-wise, the expanding uses of polycarbonates in the automotive industry is propelling the demand in this segment. They are extensively used in designing OEMs, headlamp focal points, And lighting frameworks.