SELBYVILLE, Del., March 7, 2019 /PRNewswire/ -- The Polycarbonate Composites Market is set to rise from USD 1,878.3 million in 2018 to around USD 3.2 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Automotive industry will emerge as an important end-user segment of global polycarbonate composites market over the forecast period. Though the market share by volume, held by automotive plastics in PC composites market is moderate, it is likely to witness CAGR close to 6% in the coming years. Additionally, rising per capita income in Asian and Latin American countries will be driving the middle-class spending power for buying passenger cars, which will subsequently benefit to market over the forecast timeframe.
The polycarbonate composites market is likely to face challenges from regulating authorities which emphasize reduction in plastic usage in majority of applications. PC composites biodegradability is still a concern and manufacturers have to abide by rules set by authorities to maintain the biodegradability, at least in case of medical applications. The regulations are stringent in medical instruments and devices applications. The use of polycarbonate in consumer electronics is also highly regulated which may pose growth challenge to the market during the forecast period.
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Carbon fiber filled polycarbonate composites market will be growing at a significant CAGR during the forecast timeframe. Carbon fibers improve the flexural strength and strength to weight ratio of polycarbonate, which makes it suitable for use in automotive and electrical engineering applications. Carbon fibers reinforcement in polycarbonate resin enhances its flame retardance and thus it is widely used in making electrical fibers.
Medical instruments will be growing with prominent CAGR in global market during the forecast timeframe. Glass fiber filled PC composites with varying reinforcement give flexural strength, dimensional stability and toughness which is utilized to make connectors such as check-valves, stop-cocks, y-injection sites, etc. in medical applications. Polycarbonate composites (with different percentage of reinforcement) are used in making devices that resist radiations, high temperatures and lipids.
Browse key industry insights spread across 280 pages with 225 market data tables & 22 figures & charts from the report, "Polycarbonate Composites Market Size, By Reinforcement (Glass Fiber Filled, Carbon Fiber Filled), By End-user (Consumer Electronics, Medical Instruments, Electrical Engineering, Automotive Plastics) Regional Outlook (U.S., Canada, Brazil, UK, France, Spain, Italy, Russia, China, India, Japan, South Korea, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
Asia Pacific has witnessed exponential rise in industrialization in past few decades. It can be attributed to the cost competitive land and labor coupled with ample availability of water and other natural resources. Automobile industry in Asia Pacific is growing rapidly in global polycarbonate composites market in terms of sales. This growth in the automobile industry will propel product demand in the region over the forecast timespan. Additionally, medical instrument manufacturing in China, India and South Korea will be further augmenting PC composites market size over the next few years.
The polycarbonate composites market is highly competitive with player such as Chi Mei Corporation, Mitsubishi Chemical Corporation, SABIC Innovative Plastics, LG Chem and Covestro operating in the business. Chinese manufacturers are expanding plant capacity for polycarbonate composites manufacturing to stay competitive in the global market. Raw material manufacturers are also forward integrating their business process, which will compete the major players in terms of product supply in the coming years. Covestro and The Bond Laminates GmbH (a subsidiary of Lanxess) offer wide variety of PC composites depending on the percentage of reinforcement of glass, carbon or other such materials.
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