The global polycarbonate films 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%.
Increasing demand for polycarbonate films from the electrical & electronics industry is the major driver for the growth of the polycarbonate films market. In the electrical & electronics industry, polycarbonate films are widely used for various applications such as LCDs in consumer electronics, in PCB, control panel overlays, and membrane switches. Hence the growing electrical & electronics industry is expected to drive the demand for polycarbonate films.
The optical polycarbonate films market is projected to register the highest CAGR between 2017 and 2022. This is attributed to the increased use of optical polycarbonate films in electrical & electronics industry. These films are optically clear and have good light transmission properties. These properties make these films preferred in the display and lighting applications in consumer electronics and other electronic products. The growth is further boosted by the increasing growth of the electrical & electronics industry, globally.
APAC is the largest polycarbonate films market, globally. China is the most dominant market in the region. The market in APAC is projected to register the highest CAGR between 2017 and 2022 due to the ongoing rapid economic expansion in the region. In addition, rapid development in the electronics industry is driving the demand for polycarbonate films in the consumer electronics application in the region.
The report also includes company profiles and competitive strategies adopted by the major market players, such as SABIC (Saudi Arabia), Covestro (Germany), Teijin Limited (Japan), 3M Company (US), Suzhou Omay Optical Materials (China), and Mitsubishi Gas Chemical Company (Japan) to strengthen their position in the polycarbonate films market.
Though the polycarbonate films market is expected to witness rapid growth globally, the major restraint for this market is the setting up of a polycarbonate resins plant. Hence, the availability of polycarbonate resin is uncertain in every region. Therefore, various polycarbonate films manufacturers have shut their plants or reduced the production capacities.
Increasing Use of Polycarbonate Films in Various Industries
Growing Demand for Recyclable Plastics
Difficulty of Setting Up Polycarbonate Resin Plant