Polycarbonate (PC) Films Market size was over USD 1.4 billion in 2017 and industry expects consumption at over 550 kilo tons by 2024.
January 16, 2019Rising demand for plastic films primarily for automotive
applications on account of reducing vehicle weight and improving fuel
efficiency may stimulate polycarbonate films market size. They have superior
properties including high elasticity, resistance to abrasion, chemical, heat
and moisture which increases their suitability for automotive applications. It
comprises of various products such as optical, weatherable, flame retardant and
anti-fog films catering to electronics & electrical, medical, agriculture
and construction industries, thereby stimulating industry growth.
Global automotive market size is likely to surpass USD 5.5
trillion by 2024 which provides various opportunities in the polycarbonate
films market demand. Increasing demand towards automotive applications owing to
high light transmission, toughness, dimensional stability and appeal is likely
to accelerate growth of PC films market size. Moreover, durability and
minimization of ripple in vehicles may further stimulate industry growth. Also,
European polycarbonate sheet extruders (EPSE) promotes the usage of these
sheets by developing industry standards and supports vast supply chain which
generates an array of business services, thereby increasing product demand.
Global construction industry may surpass USD 7.5 trillion over
the projected time frame. PC films are widely used in building & construction
products, from skylights and windows to wall panels, rooftop domes owing to
high optical clarity, heat resistance and flammability properties, resulting
into increased polycarbonate films market demand.
Increasing R&D efforts by producers to achieve lucrative
production and higher product efficacy may foster polycarbonate films market
growth. Government regulations and policies play a critical role in development
of electronics market in China, Japan and India may upsurge the product demand
in the region. Global consumer electronics market may surpass 1.5 trillion in
the predicted timeframe owing to growing middle-class population coupled with
increased usage of electronic devices, which in turn boost industry growth.
Manufacturing process of PC films is capital intensive along with usage of hazardous chemicals is likely to hamper market growth in the projected timeframe. High material cost and manufacturing necessities may boost up production costs. However, advanced strategies achieving economical cost along with product enhancement may offer several opportunities in the market.
Polycarbonate Films Market, By Product
Optical polycarbonate films market demand was valued at over USD
700 million in 2017 and is expected to grow over the predicted timeframe. These
products are used in household appliances, automotive interiors and consumer
electronics pertaining to their optical clarity, impact resistance and low haze
factors. Moreover, superior properties such as resistant to sunlight, rain,
heat and snow makes them preferable for building greenhouse with a longer
shelf-life without fading or discolouring and cost-effectiveness of these films
is likely to facilitate product demand in various countries.
Optical PC films market size from automotive applications may
register gains close to 7% up to 2024. These blends provide automotive
engineers and designers with high performing thermoplastics, lightweight, and
fuel efficient thereby reducing the overall vehicle weight.
Weatherable polycarbonate films market demand may register gains
close to 6.5% over the forecast period. Growing demand for signages, warning
labels, outdoor menu boards and automotive may foster PC films market. These
products give numerous benefits including extreme durability, printability,
abrasion and chemical resistance compared to other products.
Signage and display windows applications may witness significant
gains over the foreseeable timeframe. Increasing demand for digital promotions
of products & services to grab consumer attention, which shows ample growth
potential for PC films market.
Polycarbonate Films Market, By Region
North America driven by Mexico, Canada and the U.S.
polycarbonate films may register significant growth over 6.5% up to 2024.
Growing healthcare sector with rapid technology advancement and clinical trials
is likely to stimulate product demand. Companies are focusing towards
investment to serve various end-use application sectors accompanied with
implementation of innovative technologies & techniques are the key
attributes favouring regional growth demand.
Asia Pacific led by South Korea, Japan, India and China
polycarbonate films market demand may surpass USD 890 million by 2024.
Increasing product adaptability in automotive, electronics, and construction
sectors along with continuous expansion & new product development by
various companies may stimulate industry growth in the region. Rapid
urbanization with growing population which has led the need for automotive and
consumer electronics demand in China may contribute towards product
demand.
Europe driven by UK, France, Spain, and Germany polycarbonate
films market demand should register significant gains at around 6% over the
predicted timeframe. Increasing demand for recyclable products and reutilization
are the key factors to boost the industry. Growing automotive production along
with increasing passenger car demand may accelerate the regional growth. These
are durable and provide optical defects to replace the heavy metals in
automotive industry and generate opportunities for manufacturers to find huge
profit in the region.
Polycarbonate Films
Competitive Market Share
Global
polycarbonate films market share is moderately consolidated with major industry
players SABIC, Covestro, 3M, Teijin and Wiman. Companies are engaged in mergers
and joint ventures to increase their regional presence and focusing on new
product development to gain competitive advantage which may boost product
portfolio and support global presence of PC films. Moreover, most of the
companies are focusing to produce cost-effective and durable products to boost
the overall industry growth.