Will Adoption of Polycarbonate Resins in Pillar-less Front Windows Create a New Stream of Opportunities?
Materials with highly versatile properties have garnered considerable traction in recent years, as industries set their focus on leveraging the multifaceted options, while they aim to suffice the growing consumer demand for quality-driven offerings. For instance, polycarbonate resin’s unique properties have helped it become a material of choice for a wide range of applications that need impact resistance. Polycarbonate resins outperform transparent polymers, such as polymethylmethacrylate (PMMA), and have emerged as a viable option to be used in transparent materials where safety is a key prerequisite. These fascinating attributes allow for polycarbonate application in a wide range of products that include electronic equipment, construction glazing, greenhouses, automotive parts, exterior lighting fixtures, medical devices, and sports safety equipment.
Over the years, the production of polycarbonate resins has picked pace in various regions, with worldwide production taking a leap from 4,913 KT recorded in 2009 to 5,603 KT in 2018. An increased number of companies have recognized the potential applications of polycarbonate resins in a sweeping range of industries. Though worldwide production is growing at a steady pace, several developing countries continue to import polycarbonate resins instead of switching to large-scale production. China, for instance, accounts for ~ 40% shares in the global polycarbonate resins market and currently relies on other regions for polycarbonate resins. In 2018, China’s polycarbonate resins production capacity was recorded to be just about 943 KT, whereas the imports reached1398.00 KT, indicates research.
This import and production scenario of polycarbonate resins is likely to witness a considerable shift, as China looks forward to increasing production at large scale while reducing its dependence on imports. The polycarbonate resins industry will continue to witness a turmoil of changes in countries like China, as the manufacturers recognize suitable technologies and raw materials to turn the pain point of pricing in favor.
Sales Remain Concentrated in Electrical & Electronics Industry
The global sales of polycarbonate resins managed to reach ~US$14.6 Bn in 2018. Since the commercialization of polycarbonate resins in the 1960s, a majority of the revenue generation in the market has remained concentrated in the electrical & electronics and building & construction industries. These industries collectively held ~ 53% revenues in 2018, and are highly likely to remain a hotbed of application opportunities for polycarbonate resins manufacturers.
Broadening applications of polycarbonate resins are enabling manufacturers to penetrate a wide range of industries while witnessing notable demand from across the globe. A bulk of adoption has remained restricted to general-purpose grade applications; however, the optical grade value of polycarbonate resins is set to grow in the years to come, as industries continue to shift their focus from aesthetics to functionality.
The automotive industry, for instance, is witnessing rapid winds of change, with automakers leveraging every possible way to stay at par with the altering trends, such as the growing demand for lightweight models. This emerging trend is underway and here to stay for the years to come, as every ~10% of vehicle weight reduction tends to improve the fuel economy by ~ 5%. Moreover, aggravating environmental concerns pertaining to fuel emissions has been compelling automakers to innovate with functional materials.
Automotive Industry, the Frontier of Growth
Automakers who once underestimated the value of plastics are now recognizing its role in the development of various components, as they focus on developing lighter vehicle components to meet regulatory requisites. Polymers have aided vehicle enhancement for generations, and it is pertinent to note that they reduce the overall vehicle weight when they replace bulkier materials, such as glass and metal, ultimately saving energy. Several automakers are experimenting with key vehicle components to fit in well to the shifting customer-expectations while complying with the existing regulations in the automotive industry.
The automotive industry is on the brink of ’automation’, with leading automakers investing significantly in electric vehicles. The shift to electromobility points to the rising demand for lightweight materials, thereby surge in the use of specialized plastics. What the auto industry is undergoing is unprecedented in terms of the scale and the nature of change ahead of it; however, these changes are influencing the business of supplying engineering plastics to the auto industry. A large number of automakers and plastics manufacturers are joining hands for the development of highly functional, cost-effective, and customer-centric auto components, to secure long-term sales.
The breakthrough trend of pillar-less front windows, in electric vehicles, is identified to be a strong factor influencing sales of polycarbonate resins, which remains a highly sought-after material for windows. Polycarbonate resins, which were previously prohibited from the use in automobiles’ front windows, predominantly in the Japanese market landscape, in line with certain safety standards effective within the country, are now gaining traction for the same applications. While this scenario is being perceived as a strong impact factor for the global market, the market in Japan is particularly witnessing gains owing to massive R&D investments and efforts of automotive manufacturers.
The development of pillar-less front windows has been enabled by advanced technologies, which thicken the perimeter of polycarbonate resin windows and eliminate the need for vertical support or A-pillar that divides the windshield and front window. This integrated pillar reduces the weight of the window by 36% than a conventional front window with A-pillar. Teijin, for instance, has developed the world’s first polycarbonate resin pillar-less front window for Tommykaira ZZ, an electric vehicle manufactured by GLM Co., Ltd.
With widening applicability of polycarbonate resins, various automotive companies in Europe and North America are demanding polycarbonate resins to design pillar-less front windows and reduce the overall vehicular weight.
In addition to the expanding application scope in automotive space, polycarbonate resins have been witnessing gains from increasing consumption for medical applications. Consumption of polycarbonate resins in the medical industry accounted for the revenues worth US$ 388 Mn in 2018, which are likely to see 2.3X growth through 2029. The future application will not just be limited to existing areas of use for polycarbonate resins, with lucrative 3D printing and wearable medical devices highly likely to create a stream of opportunities for stakeholders.
Bio-based Variants – A Drive to Better Positioning
The competition in the polycarbonate market has been intensifying over the years, with companies vying to turn the material restraints into gains and appeal to a wider base of end-users. While numerous substitutes continue to slow down the pace of the growth trajectory of polycarbonate resins market, leading players are investing in novel manufacturing practices to achieve a competitive price point for polycarbonate resins.
Additionally, responding to the recent rise in the adoption of bio-based plastics and the emergence of carbon fibers for similar applications as that of polycarbonate resins, novel variants are making their way into the market. This, together with the increasing thermoplastic industrial applications and awareness about the petrochemical disposal, has marked the emergence of bio-based polycarbonate resins. Increasing crude oil and petrochemical prices have compelled market players to invest heavily in R&D activities and develop sustainable bio-based polycarbonate resins that are based on plant-derived isosorbide. For instance, in 2018, Mitsubishi Chemical Corporation announced the launch of bio-based polycarbonate resin ‘Durabio’.
In comparison to the conventional polycarbonate resin, these new grade variants boast high transparency and crack resistance. This grade has further broadened the applications of polycarbonate resins in optical films, cosmetic bottles, touch screens, and interior as well as exterior parts of automobiles.
Building & construction industry continues to register significant consumption of polycarbonate resins in East Asia and Europe, whereas in North America, the market is prominently upheld by the application in the automotive industry. The electrical & electronics industry in developing regions, such as South East Asia and Oceania, will continue to register significant consumption of polycarbonate resins in the years to come.
A recent research study published by Fact.MR evaluates the historical as well as current scenario of ‘Global Polycarbonate Resins Market’ to precisely assess its future development. It covers in-depth information about drivers, restraints, and key trends that are impacting the significant trends that are growth prospects of the polycarbonate resins market to identify the future opportunistic business potential for the market players. The report also offers comprehensive information related to how the polycarbonate resins market will pick pace during the assessment period, 2019-2029.
The report provides razor sharp insights about the various aspects and nuances of the polycarbonate resins market to help the market players in making winning decisions. Fact.MR’s report also provides information about the key alterations that are highly likely to shape the polycarbonate resins market during the foreseeable period. It includes a key indicator assessment to underline various growth determinants of the polycarbonate resins market and forecast statistics related to the market progress in terms of value (US$ million) and volume (kilo tons).
The report presents a comprehensive taxonomy of the polycarbonate resins market and riveting insights on competitive landscape. The study also profiles companies that are operating in the polycarbonate resins market, wherein, different development and winning strategies formulated and adopted by the established and leading players have been given in a detail.
Polycarbonate Resins Market - Segmentation
Fact.MR’s study gauges the polycarbonate resins market based on type, application, and region. The report presents detailed market dynamics and rapidly altering trends associated with different segments, and how they are shaping the growth avenues of the polycarbonate resins market.
Compound & Resins
Consumer goods, Leisure & Safety
Electrical & Electronics
South Asia & Oceania
Middle East & Africa
Building & Construction
What Are the Key Questions Answered in Fact.MR’s Report on Polycarbonate Resins Market?
The report provides unique information about the polycarbonate resins market based on an in-depth research pertaining to the macro as well as microeconomic factors that are playing a worthy role in impacting the progress of the market. The details given in the report answers to the salient questions for the currently operating companies and the ones looking forward to enter into the polycarbonate resins market, to assist them in formulating winning strategies and taking business-driving decisions.
- Which products of polycarbonate resins will register highest value for market in 2021?
- How market frontrunners are successfully capitalizing the attributes of polycarbonate resins?
- What will be the Y-o-Y growth of polycarbonate resins market between 2019 and 2022?
- What are the unique strategies of leading players in the polycarbonate resins market?
- Which grade of polycarbonate resins witnessed highest traction in 2018?
- What rate of ROI can polycarbonate resins’ manufacturers expect from its application in automotive industry in the next couple of years?
Research Methodology – Polycarbonate Resins Market
The research methodology adopted by the analysts for the development of polycarbonate resins market report includes a detailed research through primary and secondary resources. By delving in the industry-validated information that is obtained and verified by pertinent resources, analysts have provided actionable insights and accurate projection of the polycarbonate resins market.
During the primary research phase, analysts interviewed C-level executives, regional managers, vice presidents, sales and marketing managers, brand manager, raw material suppliers, and industry players and investors. On the basis of the information obtained through the interviews of relevant resources, analysts have provided information about the development scenario of polycarbonate resins market.
For secondary research, analysts assessed multiple annual report publications, white papers, case studies, research publications, industry association publications and company website to obtain required understanding of the polycarbonate resins market.
1. Executive Summary
1.1. Global Market Outlook
1.2. FACT.MR Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Market Background & Macro Economic Factors
4.1. Global Plastic Material Production
4.1.1. By Key Region
4.2. Global Automotive Industry Snapshot
4.3. Global Construction Industry Snapshot
4.3.1. By Region
4.3.2. By Sector
4.4. Global Electrical & Electronic Industry Snapshot
4.5. Global Medical Device Market Outlook
4.6. Global Crude Oil Analysis
4.7. Global Polycarbonate Resins Market – Product Innovation
4.8. Polycarbonate Resin Supply & Demand Analysis
4.9. Trade Analysis
4.10. Raw Material Analysis –Global Polycarbonate Resins Market
4.10.1. Raw Material Flow for Polycarbonate Resin
5. Production Process & Technology Outlook
5.1. Polycarbonate Resin Process & Technology
5.1.1. Phosgene Process - Interfacial Polycondensation Process
5.1.2. Non-phosgene Process - Melt Process Production Process
6. Market Dynamics
6.1. Macroeconomic Factors
6.1.1. Global GDP outlook and forecast
6.1.2. Global Population outlook
6.2. Market Dynamics
6.2.3. Opportunity Analysis
6.3. Value Chain Analysis
6.4. Forecast Factors & Relevance
7. Global Polycarbonate Resins Market Demand Analysis 2014-2018 and Forecast, 2019 - 2029
7.1. Historical Market Volume (Tons) Analysis, 2014-2018
7.2. Current and Future Market Volume (Tons) Projections, 2019 - 2029
7.3. Y-o-Y Growth Trend Analysis
8. Global Polycarbonate Resins Market - Pricing Analysis
8.1. Regional Pricing Analysis
8.2. Global Average Pricing Analysis Benchmark
9. Global Polycarbonate Resins Market Demand (in Value or Size in US$ Mn) Analysis 2014-2018 and Forecast, 2019 - 2029
9.1. Historical Market Value (US$ Mn) Analysis, 2014-2018
9.2. Current and Future Market Value (US$ Mn) Projections, 2019 - 2029
9.2.1. Y-o-Y Growth Trend Analysis
9.2.2. Absolute $ Opportunity Analysis
10. Global Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029, by Grade
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis By Grade, 2014 - 2018
10.3. Current and Future Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis and Forecast By Grade, 2019 - 2029
10.3.1. General Purpose Grade
10.3.2. Optical grade
10.4. Market Attractiveness Analysis By Grade
11. Global Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029, by Product Type
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis By Product Type, 2014 - 2018
11.3. Current and Future Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis and Forecast By Product Type, 2019 - 2029
11.3.1. Compound & Resins
11.4. Market Attractiveness Analysis By Product Type
12. Global Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029, By Application
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis By Application, 2014 - 2018
12.3. Current and Future Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis and Forecast By Application, 2019 - 2029
12.3.2. Building & Construction
12.3.3. Consumer goods, Leisure & Safety
12.3.4. Electrical & Electronics
12.3.5. Consumer Appliances
12.3.6. Optical Media
12.4. Market Attractiveness Analysis By Application
13. Global Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019-2029, by Region
13.2. Historical Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis By Region, 2014 - 2018
13.3. Current Market Size (US$ Mn) and Volume (in Kilo Tons) Analysis and Forecast By Region, 2019 – 2029
13.3.1. North America
13.3.2. Latin America
13.3.4. East Asia
13.3.5. South Asia & Oceania
13.3.6. Middle East & Africa
13.4. Market Attractiveness Analysis By Region
14. North America Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
14.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018
14.3. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 - 2029
14.3.1. By Country
14.3.2. By Grade
14.3.3. By Product Type
14.3.4. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Grade
14.4.3. By Product Type
14.4.4. By Application
14.5. Key Market Participants - Intensity Mapping
14.6. Drivers and Restraints - Impact Analysis
15. Latin America Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
15.2. Pricing Analysis
15.3. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 – 2029
15.3.1. By Country
22.214.171.124. Rest of Latin America
15.3.2. By Grade
15.3.3. By Product Type
15.3.4. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Grade
15.4.3. By Product Type
15.4.4. By Application
15.5. Key Market Participants - Intensity Mapping
15.6. Drivers and Restraints - Impact Analysis
16. Europe Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
17.1. Pricing Analysis
17.2. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 - 2029
17.2.1. By Country
126.96.36.199. The Netherlands
188.8.131.52. Rest of Europe
17.2.2. By Grade
17.2.3. By Product Type
17.2.4. By Application
17.3. Market Attractiveness Analysis
17.3.1. By Country
17.3.2. By Grade
17.3.3. By Product Type
17.3.4. By Application
17.4. Key Market Participants - Intensity Mapping
17.5. Drivers and Restraints - Impact Analysis
18. East Asia Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
18.2. Pricing Analysis
18.3. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 - 2029
18.3.1. By Country
184.108.40.206. South Korea
18.3.2. By Grade
18.3.3. By Product Type
18.3.4. By Application
18.4. Market Attractiveness Analysis
18.4.1. By Country
18.4.2. By Grade
18.4.3. By Product Type
18.4.4. By Application
18.5. Key Market Participants - Intensity Mapping
18.6. Drivers and Restraints - Impact Analysis
19. South Asia & Oceania Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
19.2. Pricing Analysis
19.3. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 - 2029
19.3.1. By Country
220.127.116.11. Australia & New Zealand
18.104.22.168. Rest of South Asia & Oceania
19.3.2. By Grade
19.3.3. By Product Type
19.3.4. By Application
19.4. Market Attractiveness Analysis
19.4.1. By Country
19.4.2. By Grade
19.4.3. By Product Type
19.4.4. By Application
19.5. Key Market Participants - Intensity Mapping
19.6. Drivers and Restraints - Impact Analysis
20. Middle East & Africa Polycarbonate Resins Market Analysis 2014-2018 and Forecast 2019 - 2029
20.2. Pricing Analysis
20.3. Market Size (US$ Mn) and Volume Forecast for Polycarbonate Resins Market Taxonomy, 2019 - 2029
20.3.1. By Country
22.214.171.124. Saudi Arabia
126.96.36.199. South Africa
188.8.131.52. North Africa
184.108.40.206. Rest of Middle East & Africa
20.3.2. By Grade
20.3.3. By Product Type
20.3.4. By Application
20.4. Market Attractiveness Analysis
20.4.1. By Country
20.4.2. By Grade
20.4.3. By Application
20.5. Key Market Participants - Intensity Mapping
20.6. Drivers and Restraints - Impact Analysis
21. Market Structure Analysis
21.1. Market Analysis by Tier of Companies (Polycarbonate Resins)
21.2. Market Concentration
21.3. Market Share Analysis of Top Players
22. Competition Analysis
22.1. Competition Dashboard
22.2. Market Share analysis
22.3. Competition Deep Dive
220.127.116.11. Product Portfolio
18.104.22.168. Sales Footprint
22.214.171.124. Strategy Overview
22.3.2. SABIC Plastics
22.3.3. LG Chem
22.3.4. TEIJIN LIMITED
22.3.5. Mitsubishi Engineering-Plastics Corporation
22.3.6. Chi Mei Corporation
22.3.7. Formosa Chemicals & Fibre Corp.
22.3.8. LOTTE ADVANCED MATERIALS CO., LTD.
22.3.9. SAMYANG CORPORATION
22.3.12. Luxi Chemical Group Co.
22.3.13. Polycarbonates do Brasil S.A.
22.3.14. Wanhua Chemical Group Co., Ltd.
22.3.15. Other Prominent Players
23. Assumptions and Acronyms Used
24. Research Methodology
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