The Growth of Polycarbonate Global Market is Stimulated by Huge DemandJan 2nd, 2018
Polycarbonate (PC) has been highly demanded for the last three years across the globe. The consumption keeps on growing especially in the economic zone of Asia Pacific which buys two-thirds of polycarbonate output traded in the world.
The global PC market had 4 million tonnes of PC in 2016. By 2022 the market supply is expected to increase by 4% which is 5 million tonnes. The leading consumers of polycarbonates in 2016 are four industries: electric and electronic engineering (34%), healthcare, household appliances, consumer goods and packaging (26%), car manufacturing (19%) and construction (13%).
Global leadership in PC consumption in 2016 belongs to China which used 38% of the total volumes of polycarbonate. It is flowed by Europe, Middle East and Africa (EMEA) – 25% and the North American Free Trade Agreement (NAFTA) together with Latin America – 15%. In 2016, 15 % of the PC was consumed by other Asian countries. Japanese industrial sector used 7% of PC. China retains its leading positions as a PC producer. The Chinese PC market is demonstrating a rapid growth which is now estimated at 5%.
On the whole, the growth of the global polycarbonate market can be explained by its high consolidation capability and the restructuring of the PC companies that have taken place within recent memory.
Covestro, a key hi-tech polymer supplier, became the largest PC producer in China due to the expansion of production facilities in Shanghai. It doubled the capacity by 400 thousand tons per year and now produces around 1,5million tonnes of polycarbonate. Still, in 2019 the company intends to increase the capacity by 600 tonnes of PC per year. The analysts predict that the polycarbonate market will grow in a balanced manner.