CHICAGO, May 16, 2024
/PRNewswire/ -- The report "Polycarbonate Resin
Market by Application (Electrical & Electronics,
Optical Media, Construction, Consumer, Automotive, Packaging,
Medical), and Region (Asia
Pacific, Europe,
North America, Middle East & Africa) - Global Forecast to 2029", is
projected to reach USD 20.1 billion
by 2029, at a CAGR of 5.5% from USD 15.3
billion in 2024.
The polycarbonate resin market is driven by several factors,
including technological advancements, shifting consumer behaviors,
favorable economic conditions, expanding applications in various
industries, and growing demand. The increasing use of polycarbonate
resin in various end-use industries, such as electrical &
electronics, optical media, consumer goods, automotive,
construction, packaging, medical, is a significant driver for
market growth.
Browse in-depth TOC on "Polycarbonate Resin Market"
206 – Tables
34 – Figures
201 –
Pages
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"Medical application is the fastest growing end-use industry
of the polycarbonate resin, in terms of value."
Polycarbonate resin plays a pivotal role in the medical sector,
offering properties that align with stringent industry standards.
Renowned for its biocompatibility, transparency, and
sterilizability, polycarbonate resin serves as an optimal choice
for crafting medical devices and equipment. Widely utilized in
applications like IV connectors, surgical instruments, blood
oxygenators, and medical tubing, its resilience against repeated
sterilization cycles ensures sustained structural integrity. With
exceptional impact resistance, polycarbonate resin guarantees
durability in demanding healthcare settings, while its optical
clarity facilitates seamless observation during medical procedures.
Its versatility enables the production of intricate medical
components, thereby driving advancements in patient care and
treatment methodologies.
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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's
dominance in the polycarbonate resin market stems from various
factors. Firstly, its rapidly expanding population and burgeoning
middle class are driving substantial demand for consumer goods,
electronics, and automotive products, all of which heavily rely on
polycarbonate resin. Secondly, robust industrialization and
urbanization across Asia-Pacific
economies are fueling increased construction activities and
infrastructure development, creating a significant need for
polycarbonate resin in applications like roofing, windows, and
insulation. Moreover, the region benefits from well-established
manufacturing industries in countries such as China, Japan,
South Korea, and Taiwan, further bolstering demand for
polycarbonate resin as a vital raw material.
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Key Players
Mergers, new product launches, partnerships and expansions are
the major growth strategies adopted by the key players in the
market. 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), Idemitsu
Kosan Co., Ltd. (Japan) and
others.
Browse Adjacent Market: Resins and Polymers Market
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