Polycarbonate (PC) Market Size

The polycarbonate market size is projected to experience significant growth over the forecast period, driven by its extensive applications across various industries such as electrical and electronics, building and construction, and aerospace. The electrical and electronics sector, in particular, is the largest and fastest-growing end-user, spurred by the demand for high-strength and lightweight materials in consumer electronics. Meanwhile, the building and construction industry is expected to contribute substantially to market expansion due to increasing construction activities. The aerospace sector also shows promising growth potential, attributed to the material's use in reducing weight and enhancing strength in aircraft components. Geographically, the Asia-Pacific region leads in consumption, supported by its robust automotive and electronics industries, while Europe and Africa are also witnessing rising demand driven by similar factors.

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Market Size of polycarbonate (pc) Industry

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Polycarbonate (PC) Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 20.62 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 28.84 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Electrical and Electronics
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 6.94 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Asia-Pacific

Major Players

Polycarbonate (PC) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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 Region

62.32 %

value share, Asia-Pacific, 2023

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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

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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

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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.
Global Polycarbonate (PC) 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.

Polycarbonate (PC) Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • 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.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Region
Africa
By Country
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Country
Australia
China
India
Japan
Malaysia
South Korea
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
United Kingdom
Rest of Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
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Polycarbonate (PC) Market Size Summary

The polycarbonate (PC) market is experiencing significant growth, driven by its extensive applications across various industries due to its transparency, toughness, and thermal stability. The electrical and electronics sector is the largest and fastest-growing end-user, fueled by the increasing demand for high-strength, lightweight materials in consumer electronics. This trend is supported by the projected growth in global consumer electronics revenue. The building and construction industry also represents a substantial portion of polycarbonate consumption, with anticipated growth linked to the expanding construction market. Additionally, the aerospace sector is witnessing increased use of polycarbonate for its lightweight and strength properties, particularly in windshields and windows.

Regionally, Asia-Pacific leads in polycarbonate consumption, supported by robust growth in the aerospace, automotive, and electronics sectors. Europe follows, with rising demand driven by vehicle production and expanding electrical and electronics markets. Africa is emerging as the fastest-growing region, with increasing demand for polycarbonate resin due to the rise in electrical and electronics production and hybrid vehicle demand. The market is fairly consolidated, with major players like Covestro AG, Lotte Chemical, Mitsubishi Chemical Corporation, SABIC, and Teijin Limited dominating. Recent developments include Covestro AG's introduction of polycarbonate for healthcare applications and initiatives for sustainable solutions through mechanical recycling.

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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 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Country

          1. 1.2.1.1.1 Nigeria

          2. 1.2.1.1.2 South Africa

          3. 1.2.1.1.3 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Country

          1. 1.2.2.1.1 Australia

          2. 1.2.2.1.2 China

          3. 1.2.2.1.3 India

          4. 1.2.2.1.4 Japan

          5. 1.2.2.1.5 Malaysia

          6. 1.2.2.1.6 South Korea

          7. 1.2.2.1.7 Rest of Asia-Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Country

          1. 1.2.3.1.1 France

          2. 1.2.3.1.2 Germany

          3. 1.2.3.1.3 Italy

          4. 1.2.3.1.4 Russia

          5. 1.2.3.1.5 United Kingdom

          6. 1.2.3.1.6 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Country

          1. 1.2.4.1.1 Saudi Arabia

          2. 1.2.4.1.2 United Arab Emirates

          3. 1.2.4.1.3 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Country

          1. 1.2.5.1.1 Canada

          2. 1.2.5.1.2 Mexico

          3. 1.2.5.1.3 United States

      6. 1.2.6 South America

        1. 1.2.6.1 By Country

          1. 1.2.6.1.1 Argentina

          2. 1.2.6.1.2 Brazil

          3. 1.2.6.1.3 Rest of South America

Polycarbonate (PC) Market Size FAQs

The Global Polycarbonate (PC) Market size is expected to reach USD 20.62 billion in 2024 and grow at a CAGR of 6.94% to reach USD 28.84 billion by 2029.

In 2024, the Global Polycarbonate (PC) Market size is expected to reach USD 20.62 billion.

Polycarbonate Market Report Snapshots

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