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Polycarbonate Resin Market worth $20.1 billion by 2029 - Exclusive Report by MarketsandMarkets™


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MarketsandMarkets

16 May, 2024, 10:00 GMT

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CHICAGO, May 16, 2024 /PRNewswire/ -- The report "Polycarbonate Resin Market by Application (Electrical & Electronics, Optical Media, Construction, Consumer, Automotive, Packaging, Medical), and Region (Asia Pacific, Europe, North America, Middle East & Africa) - Global Forecast to 2029", is projected to reach USD 20.1 billion by 2029, at a CAGR of 5.5% from USD 15.3 billion in 2024.

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The polycarbonate resin market is driven by several factors, including technological advancements, shifting consumer behaviors, favorable economic conditions, expanding applications in various industries, and growing demand. The increasing use of polycarbonate resin in various end-use industries, such as electrical & electronics, optical media, consumer goods, automotive, construction, packaging, medical, is a significant driver for market growth.

Browse in-depth TOC on "Polycarbonate Resin Market"

206 – Tables
34 – Figures
201 – Pages

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"Medical application is the fastest growing end-use industry of the polycarbonate resin, in terms of value."

Polycarbonate resin plays a pivotal role in the medical sector, offering properties that align with stringent industry standards. Renowned for its biocompatibility, transparency, and sterilizability, polycarbonate resin serves as an optimal choice for crafting medical devices and equipment. Widely utilized in applications like IV connectors, surgical instruments, blood oxygenators, and medical tubing, its resilience against repeated sterilization cycles ensures sustained structural integrity. With exceptional impact resistance, polycarbonate resin guarantees durability in demanding healthcare settings, while its optical clarity facilitates seamless observation during medical procedures. Its versatility enables the production of intricate medical components, thereby driving advancements in patient care and treatment methodologies.

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"Asia Pacific captures the largest share in the polycarbonate resin market during the forecast period, in terms of value."

The Asia-Pacific region's dominance in the polycarbonate resin market stems from various factors. Firstly, its rapidly expanding population and burgeoning middle class are driving substantial demand for consumer goods, electronics, and automotive products, all of which heavily rely on polycarbonate resin. Secondly, robust industrialization and urbanization across Asia-Pacific economies are fueling increased construction activities and infrastructure development, creating a significant need for polycarbonate resin in applications like roofing, windows, and insulation. Moreover, the region benefits from well-established manufacturing industries in countries such as China, Japan, South Korea, and Taiwan, further bolstering demand for polycarbonate resin as a vital raw material.

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Key Players

Mergers, new product launches, partnerships and expansions are the major growth strategies adopted by the key players in the market. The key global players in the polycarbonate resin market include Covestro AG (Germany), SABIC (Saudi Arabia), Mitsubishi Engineering-Plastics Corporation (Japan), Lotte Chemical Corporation (South Korea), Teijin Limited (Japan), LG Chem (South Korea), Formosa Chemicals and Fibre Corporation (Taiwan), Trinseo PLC (US), Chimei (Taiwan), Idemitsu Kosan Co., Ltd. (Japan) and others.

Browse Adjacent Market: Resins and Polymers Market Research Reports

Related Reports:

Engineering Plastics Market - Global Forecast to 2027

Thermally Conductive Plastics Market - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
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