Polycarbonate Films Market Worth 1.52 Billion USD by 2022
The report “Polycarbonate Films Market by Type (Optical, Flame Retardant, and Weatherable), End-Use Industry (Electrical & Electronics, Transportation, and Medical Packaging), and Region (APAC, NA, EU, SA and MEA) – Global Forecast to 2022” published by MarketsandMarkets, the global market is estimated at USD 1.10 Billion in 2017 and is projected to reach USD 1.52 Billion by 2022, at a CAGR of 6.6% between 2017 and 2022.
The growth of the Polycarbonate Films Market globally is fueled by the high demand from the electrical & electronics industry. The growth is further boosted by the growing demand for recyclable plastics. Polycarbonate films that are made of polycarbonate resin is a thermoplastic which makes it a recyclable and eco-friendly material. Therefore, this has significantly contributed to the development and usage of polycarbonate films in different end-use industries during the forecast period.
Optical PC films is the largest type, which is expected to witness a high growth in the Polycarbonate Films Market. The demand for optical PC films is high due to their use in various applications which is attributed to the superior properties of these films. These films are optically clear, have a good light transmittance, high impact resistance, and very low haze factor. Hence these properties make it ideal for applications demanding low distortion with optimum visual quality. They are widely used in the lighting & display and in-mold decoration (IMD) applications for automotive interiors, appliances, and consumer electronics. Additionally, the cost-effectiveness of these films is facilitating their demand in various countries.
Electrical & electronics is the largest end-use industry of polycarbonate films. As polycarbonate films have superior properties such as good temperature and high impact resistance, these films are widely used for various electrical & electronics applications for LCDs, mobile phones, monitors, and other consumer electronics. Additionally, the increasing demand for sophisticated consumer electronic is increasing due to the increasing middle-class population. All these factors are expected to drive the Polycarbonate Films Market in the electrical & electronics end-use industry.
APAC is the global forerunner in the Polycarbonate Films Market, in terms of value and volume, and this trend is expected to continue till 2022. Countries in this region such as China, India, Japan, Taiwan, South Korea, Thailand, and Malaysia are witnessing a significant increase in the use of polycarbonate films in the electrical & electronics industry. The growth of the APAC Polycarbonate Films Market is also attributed to the rapid economic growth and increasing population that is driving the demand for polycarbonate films from various end-use industries. China is the fastest-growing Polycarbonate Films Market in this region during the forecast period.
A few global players are operating in the Polycarbonate Films Market. These companies are actively investing in various strategies, such as expansions, new product launches, and joint ventures to increase their market shares and strengthen their position in the Polycarbonate Films Market. SABIC (Saudi Arabia), Covestro (Germany), Teijin Limited (Japan), 3M Company (US), Suzhou Omay Optical Materials (China), and Mitsubishi Gas Chemical Company (Japan) are the leading players in the Polycarbonate Films Market who have adopted various organic and inorganic strategies to ensure their growth in this market.
Inquiry before Buying here.