North America Polycarbonate (PC) Market Size

The North America Polycarbonate (PC) Market is experiencing growth driven by its advantageous properties such as high impact strength, lightweight, and UV resistance, making it a preferred material in various industries. The market's expansion is further supported by advancements in production technology, particularly the use of carbon dioxide gas as a raw material. Despite a temporary decline due to the COVID-19 pandemic, the market rebounded as production resumed. The electrical and electronics sector is anticipated to be the fastest-growing end-user, with significant demand also arising from the construction and automotive industries. The United States and Mexico are key consumers, with increasing demand linked to their respective construction and vehicle production activities.

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Market Size of north america polycarbonate (pc) Industry

North America Polycarbonate (PC) Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 2.07 Billion
svg icon Market Size (2029) USD 2.86 Billion
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 6.68 %
svg icon Largest Share by Country United States

Major Players

North America Polycarbonate (PC) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Polycarbonate (PC) Market Analysis

The North America Polycarbonate (PC) Market size is estimated at 2.07 billion USD in 2024, and is expected to reach 2.86 billion USD by 2029, growing at a CAGR of 6.68% during the forecast period (2024-2029).

2.07 Billion

Market Size in 2024 (USD)

2.86 Billion

Market Size in 2029 (USD)

4.72 %

CAGR (2017-2023)

6.68 %

CAGR (2024-2029)

Largest Market by End-user Industry

21.03 %

value share, Electrical and Electronics, 2023

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The electronics industry dominates the market due to its growing demand for polycarbonate materials in various electrical and electronics goods.

Fastest Growing Market by End-user Industry

8.11 %

Projected CAGR, Electrical and Electronics, 2024-2029

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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 Country

70.12 %

value share, United States, 2023

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The United States accounted for around 85% of the North American electrical and electronics industry’s revenue and 94% of the regional aerospace industry. Thus, the country held the largest share of the market.

Fastest Growing Market by Country

8.16 %

Projected CAGR, Mexico, 2024-2029

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Mexico experienced remarkable growth, particularly in the construction industry. It is expected to grow at the fastest rate over due to its robust manufacturing industry and strong economic growth.

Leading Market Player

68.49 %

market share, SABIC, 2022

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SABIC is the largest producer of polycarbonate resin in North America, with a production capacity of 500 kilotons. It offers a wide range of polycarbonate grades for use in different applications.

Technological advancements in the manufacturing of polycarbonate to boost market demand

  • Polycarbonate is popular in the region for its high impact strength, lightweight, UV resistance, optical transmission, electrical, and many other properties. The impact strength of the polycarbonate sheet is 200 times more than common glass. Polycarbonate can transmit 90% of light through it, the same as glass. The demand for polycarbonate in the region is expected to grow by 7.93%, by value, in 2023 compared to 2022.
  • The rising trend of new production technology of polycarbonate from carbon dioxide gas (CO2) instead of bisphenol (BPA), which is toxic in nature, has driven the market over recent years.
  • The polycarbonate market in the region declined by 7.8% in terms of value in 2020 compared to 2019. The COVID-19 pandemic during the same period halted production facilities for nearly three months because of nationwide lockdowns in several countries, including the United States, Mexico, and Canada. The supply chain disruptions, raw material shortages, and stoppage of trade exchanges across the region resulted in such a decline. However, the demand regained in 2021 with a growth rate of 18.24% compared to 2020, owing to the resumption of production facilities to its annual capacity output.
  • Polycarbonate is widely used in the electrical and electronics industry for various applications in North America. The industry consumed nearly 126 thousand tons of polycarbonate resin in North America. The rising trend of high-strength and lightweight material in consumer electronics is expected to drive the demand for polycarbonate resins in North America. The electrical and electronics industry is expected to be the fastest-growing end-user industry in North America, registering a CAGR of 8.29%, by value, during the forecast period, 2023-2029.
North America Polycarbonate (PC) Market

The United States to dominate the North American polycarbonate market owing to rising construction activities and growth in the electronics and medical industries

  • North America accounted for 10.2% by value of the global consumption of polycarbonate resins in 2022. Polycarbonate is a key polymer in North America for various industries, including automotive, building and construction, electrical and electronics, and medical.
  • The United States is the largest country-wise consumer of polycarbonate resin in the North American region, owing to growth in its construction, electrical and electronics, and medical industries. The country's construction industry, one of the largest end-user industries of polycarbonate, accounted for consumption of nearly 76,000 tons in 2022. The new floor area is expected to reach 7.4 billion square footage by 2029 from 5.8 billion square footage in 2022. The demand for polycarbonate resin in the growing construction industry is expected to register a CAGR of 6.46% by value during the forecast period (2023-2029).
  • The demand for polycarbonate resin is increasing significantly in Mexico owing to growth in vehicle production and electronics, among other industries. Mexico is the second-largest vehicle producer in North America. It produced 3.78 million units in 2022, a 7.67% increase over 2021. The country's consumer electronics industry is also growing, expected to reach USD 22 billion by 2027. These factors are expected to drive the demand for polycarbonate resins in Mexico during the forecast period.
  • The use of advanced materials is also growing, as they provide strength similar to existing ones and are lightweight. Such trends are expected to drive the demand for polycarbonate in North America over the forecast period. Polycarbonate is widely replacing glass in many applications because it is six times lighter and two times cheaper than glass.

North America Polycarbonate (PC) Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Canada, Mexico, United States are covered as segments by Country.

  • Polycarbonate is popular in the region for its high impact strength, lightweight, UV resistance, optical transmission, electrical, and many other properties. The impact strength of the polycarbonate sheet is 200 times more than common glass. Polycarbonate can transmit 90% of light through it, the same as glass. The demand for polycarbonate in the region is expected to grow by 7.93%, by value, in 2023 compared to 2022.
  • The rising trend of new production technology of polycarbonate from carbon dioxide gas (CO2) instead of bisphenol (BPA), which is toxic in nature, has driven the market over recent years.
  • The polycarbonate market in the region declined by 7.8% in terms of value in 2020 compared to 2019. The COVID-19 pandemic during the same period halted production facilities for nearly three months because of nationwide lockdowns in several countries, including the United States, Mexico, and Canada. The supply chain disruptions, raw material shortages, and stoppage of trade exchanges across the region resulted in such a decline. However, the demand regained in 2021 with a growth rate of 18.24% compared to 2020, owing to the resumption of production facilities to its annual capacity output.
  • Polycarbonate is widely used in the electrical and electronics industry for various applications in North America. The industry consumed nearly 126 thousand tons of polycarbonate resin in North America. The rising trend of high-strength and lightweight material in consumer electronics is expected to drive the demand for polycarbonate resins in North America. The electrical and electronics industry is expected to be the fastest-growing end-user industry in North America, registering a CAGR of 8.29%, by value, during the forecast period, 2023-2029.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Country
Canada
Mexico
United States
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North America Polycarbonate (PC) Market Size Summary

The North America Polycarbonate (PC) Market is experiencing a robust growth trajectory, driven by its advantageous properties such as high impact strength, lightweight nature, and excellent UV resistance. These characteristics make polycarbonate a preferred material across various industries, including automotive, building and construction, and electrical and electronics. The market's expansion is further fueled by innovative production technologies that utilize carbon dioxide instead of toxic bisphenol, enhancing the material's appeal. Despite a temporary decline in 2020 due to the COVID-19 pandemic, which disrupted supply chains and halted production, the market rebounded strongly in 2021. The electrical and electronics sector, in particular, is poised to be the fastest-growing end-user industry, with increasing demand for high-strength and lightweight materials in consumer electronics.

The United States leads in polycarbonate consumption within the region, supported by its thriving construction and medical industries. Mexico also contributes significantly to the market growth, driven by its burgeoning vehicle production and electronics sectors. The trend of replacing glass with polycarbonate due to its superior properties and cost-effectiveness is gaining momentum, further propelling market demand. The North American market is fairly consolidated, with major players like Covestro AG, Formosa Plastics Group, LG Chem, Mitsubishi Chemical Corporation, and SABIC dominating the landscape. Recent advancements and partnerships, such as Covestro AG's introduction of polycarbonate for healthcare applications and CHIMEI's collaboration with the Industrial Technology Research Institute, underscore the ongoing innovation and strategic developments within the market.

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North America Polycarbonate (PC) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Electrical and Electronics

      5. 1.1.5 Industrial and Machinery

      6. 1.1.6 Packaging

      7. 1.1.7 Other End-user Industries

    2. 1.2 Country

      1. 1.2.1 Canada

      2. 1.2.2 Mexico

      3. 1.2.3 United States

North America Polycarbonate (PC) Market Size FAQs

The North America Polycarbonate (PC) Market size is expected to reach USD 2.07 billion in 2024 and grow at a CAGR of 6.68% to reach USD 2.86 billion by 2029.

In 2024, the North America Polycarbonate (PC) Market size is expected to reach USD 2.07 billion.

North America Polycarbonate (PC) Market Report Snapshots

North America Polycarbonate (PC) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029