Press Release / Business / Polycarbonate Market Global Growth, Share, Size Analysis by 2023

Polycarbonate Market Global Growth, Share, Size Analysis by 2023

Polycarbonate Market Key Players:
Polycarbonate Market are: Covestro (Germany), Teijin Limited (Japan), Mitsubishi Engineering Plastics Corp. (Japan), LG Chemicals (South Korea), EVONIK INDUSTRIES AG (Germany), Formosa (U.S.), Asahi Kasei Chemical Corporation (Japan), Idemitsu Kosan Co. Ltd. (Japan), SABIC (Saudi Arabia), and Bayer AG (Germany), among others.
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Polycarbonate Market Regional Analysis:
Polycarbonate Market has been studied with respect to five major regions North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. The market in Asia Pacific is estimated to dominate the global market with the largest share. This can be attributed to the rapid industrialization in the region during the past few years, along with favourable government policies and funding for infrastructure and transportation. India, Japan, South Korea, Malaysia, and China are the major contributors to the growth of this regional market. Additionally, changing lifestyles, growing disposable incomes, and shifting consumer trends are favouring the automotive and packaging industries in the region, which may fuel the growth of the regional market.
North America is expected to be the second-largest market, with the U.S. as the largest country-level market due to a steady rise in the use of polycarbonate materials in reconstruction activities and the automotive and packaging industries. Europe is also a significant market for polycarbonate, with the markets in the U.K., France, Germany, Italy, and Belgium leading the region. The growth of the European market can be attributed to the use of these materials in automotive and other industrial applications. The markets in the Middle East and Africa and Latin America account for a relatively smaller share of the market; however, these markets are likely to grow in the coming years.
Polycarbonate Market Competitive Landscape:
Polycarbonate Market is a mature market driven by flourishing growth in construction and automotive industry, along with the flourishing transportation sector. Trinseo, Formosa, Covestro, TEIJIN, SABIC are the major shareholders in this market. Majority of the key market participants are investing in the expansion of their production capacities to strengthen their market position. After addressing dynamic growth in automotive industry, and construction industry experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market. Taking into account these trends, the global polycarbonate market is likely to witness considerable competition over the forecast period of 2018-2023.
Polycarbonate Market Overview:
According to the Organisation International des Constructers automobiles (OICA), international organization consisting members form 39 countries, automotive industry has produced overall 94.97 million vehicles expanding at 4.5% annual growth in 2018.
Polycarbonate Market Table of Content to be Continue…….,
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