Rapid Expansion of the Automobile Industry to Drive the Polycarbonate Market

Introduction

Polycarbonate is formed with the reaction of bisphenol-A with carbonyl chloride in an interfacial process. Polycarbonate belongs to the polyester family of plastics and is one of the fastest-growing engineering plastics. The global demand for polycarbonate exceeded 1.5 million tons as it is extensively used in an array of packaging products and manufacturing industries.

 

High-performance plastics are largely used in the automobile industry for its durability, strength, resistance to chemical environment, and cost-effectiveness, among others. The prevailing economic and environmental concerns make fuel efficiency their topmost priority, making polycarbonate an ideal material of choice.  As per the data provided by the European Commission, the automobile industry employs around 13.9 million Europeans and contributes about 7% to the total GDP. They are extensively used in making car wiper arm, headlamp retainer, gear housings, engine cover, and connector housings.

Competitive Players

1. SABIC
2. Bayer AG
3. Covestro AG
4. Teijin Limited
5. Chi Mei Corp.
6. Idemitsu Kosan
7. Mitsubishi Engineering Plastics Corp.
8. Trinseo S.A.
9. LG Chemicals
10. RTP Company
11. Lotte Chemical Corporation.

Recent Developments

Recent Developments

• October 2022, Trinseo, one of the biggest producers of polystyrene in Europe, has announced the commercialization of its STYRON X-TECHTM 4660 Polystyrene Resins for Extruded Polystyrene.
• February 2022, RTP Company has expanded into Poland with a new manufacturing facility to support custom compounded thermoplastics in Europe.

Segmentation

1. By Type Sheets & Films
   1. Plates
   2. Blends
   3. Fibers
2. By End-User
   1. Construction
   2. Packaging
   3. Automotive
   4. Medical Devices
   5. Electrical & Electronics
3. By Grade
   1. General Purpose Grade
   2. High Performance Grade
   3. Optical Grade
   4. Flame Retardant Grade
   5. Others