Global Polycarbonate Plastic Market 2017-2021
About Polycarbonate Plastic
Polycarbonate plastic is a transparent amorphous thermoplastic. It contains carbonate groups in its chemical structure. It is formed when bisphenol A reacts with carbonyl chloride in an interfacial process. Polycarbonate has physical properties like high toughness, outstanding transparency, and thermal stability; such properties make polycarbonate plastic one of the most widely used engineering thermoplastics.
Technavio’s analysts forecast the global polycarbonate plastic market to grow at a CAGR of 6.6% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global polycarbonate plastic market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polycarbonate Plastic Market 2017-2021
Technavio recognizes the following companies as the key players in the global polycarbonate plastic market: Asahi Kasei, Covestro, Chi Mei, LG Chem, Samsung SDI.
Other Prominent Vendors in the market are: FORMOSA CHEMICALS & FIBRE CORPORATION, Idemitsu Kosan, Mitsubishi Engineering-Plastics, TEIJIN, and Trinseo.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing investment in R&D. The growing competition in the global polycarbonate plastic market in recent years has exerted pressure on manufacturers to add value to their product offerings through increased investment in R&D. The resultant increase in technological developments and focus on R&D have led to new product innovations with polymers that are more functional, cost effective, and sustainable, thereby enabling the key players in the market to differentiate their products through enhanced performance.”
According to the report, one of the major drivers for this market is increasing popularity of thermoplastics against conventional materials. Thermoplastics such as polycarbonate plastic are increasingly becoming a substitute for conventional materials such as metals, glass, and wood. The easy availability and cost benefit are increasingly making plastics an appropriate alternative to traditional materials, including glass, wood, stainless steel, and ceramics.
Further, the report states that one of the major factors hindering the growth of this market is fluctuation in crude oil prices. Crude oil is the major raw material source for polycarbonate plastic. The prices of raw materials such as polymers and resins have been fluctuating since 2005. Thus, the prices of these materials vary in tandem with natural gas and crude oil prices. The fluctuating cost of raw materials used in the manufacturing of polycarbonate plastic is a major challenge for the global polycarbonate plastic manufacturers.
Asahi Kasei, Covestro, Chi Mei, LG Chem, Samsung SDI, FORMOSA CHEMICALS & FIBRE CORPORATION, Idemitsu Kosan, Mitsubishi Engineering-Plastics, TEIJIN, and Trinseo.
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