Polycarbonate Market Size, Share, Opportunities, And Trends By Application (Automotive, Electrical & electronics, Construction, Packaging, Consumer goods, Medical devices, Others), By Grade (General Purpose Grade, Flame Retardant Grade, PC Alloyed Grade, Medical Grade, Food Grade, Others), And By Geography - Forecasts From 2025 To 2030

The polycarbonate market is valued at US$29.140 billion in 2025 and is projected to grow at a CAGR of 5.94% over the forecast period.

Polycarbonate finds applications across various industries, including automotive, consumer goods, construction, packaging, and medical devices. The finished goods made from polycarbonate, such as plates, sheets, film, foil, and strips, have been expanding significantly year on year.

According to the World Integrated Trade Solution (WITS), the demand for polycarbonates-made plates, sheets, film, foil, and strips imported across the world increased from 319,502,389.09 kg in 2021 to 363,099,713.05 in 2023.

In recent years, the industry has seen enormous demand from different manufacturers to encourage weight reduction and maintain strength in the materials. These factors make it suitable for various end-use applications, including electrical, automotive, packaging, and medical equipment, boosting the polycarbonate market growth.

• The expanding automobile industry significantly drives the polycarbonate market growth. The automobile market has increased by 10% in 2023 compared to 2022, and 67,133,570 cars and 26,413,029 commercial vehicles were manufactured worldwide, according to the International Organization of Motor Vehicle Manufacturers.

What are the drivers of the polycarbonate market?

• Growing usage in building & construction applications

The construction and building industry worldwide is showing significant growth. One of the major reasons for this industry’s expansion is the growing global urbanization. The global urban population has increased from 56% in 2021 to 57% in 2022, according to the World Bank. The rate of urbanization in the developing part of the world is rising significantly. This changing landscape worldwide is booming with the demand for polycarbonate construction materials for rapid development.

The polycarbonate market is segmented into five regions worldwide:

By geography, the polycarbonate market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see notable growth in the polycarbonate market due to increasing applications in consumer electronics and the automotive industry here. The Indian plastic industry is one of the leading sectors in the country’s economy. It constitutes 30,000 processing units, and among these, 85-90% belong to small and medium enterprises. The Government of India intended to take the plastic industry from US$37.8 billion of economic activity to US$126 billion in 4-5 years.

North America is expected to have a significant market share for polycarbonate products due to its major utilization in the automotive and aerospace industries. The U.S. aerospace industry is the largest in the world. US manufactures different aeronautics parts, drones, aviation technologies, etc., and exports to the world.

Product Offerings in the Polycarbonate Market

• Polycarbonate by Asahi Kasei– Asahi Kasei is the first company in the world to commercialize polycarbonate production using CO? and ethylene oxide as raw materials. Asahi Kasei licensed the technology to PC manufacturers worldwide. They have environment-friendly technology that consumes CO? as a raw material. These can be used to manufacture sheets, automobiles, helmets, laptops, etc.
• Polycarbonate by Centroplast—Centroplast offers polycarbonates produced by converting bisphenol A with phosgene. They are highly dimensionally stable under heat, very tough, can be sterilized, and have good electrical insulating properties. Polycarbonates can be used as containers, insulating parts, and optical parts such as cover boxes or cover panels for switchgear and measurement devices.
• Polycarbonate by LG Chem- Polycarbonate offered by the company is applied in various industrial fields such as electronics, automobiles, and mechanical components. It has the properties such as high transparency, impact resistance, heat resistance, and dimensional stability. These can be used in lenses for glasses, water containers, home appliances, and sealed containers.

Key developments in the Polycarbonate market:

The major leaders in the Polycarbonate Market are Covestro, SABIC, Teijin Industries, Mitsubishi Engineering Plastics Corp., and Asahi Kasei Chemical Corporation. These market players implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage. For Instance,

• In November 2024, Trinseo agreed to supply a polycarbonate technology license and all proprietary polycarbonate production equipment in Stade, Germany to a wholly owned subsidiary of Deepak Nitrite Limited for use in India. Trinseo is a specialty materials solutions provider. Deepak is headquartered in Gujarat, India. This is a multi-division and multi-product chemical intermediates company. These companies were looking for future strategic collaborative partnerships. The combined agreement's total value was $52.5 million. The company expected to receive approximately $9 million by the end of 2024 and an additional $21 million in the first half of 2025.
• In May 2024, Konica Minolta, Inc. has been working to promote recycled plastics. The company knows the high-functionality recycling. It started supplying recycled plastics from used polycarbonate water bottles through joint development with NEC Platforms, Ltd. These can be used for exterior parts of an Aterm home Wi-Fi router.  The company aimed to reduce the amount of the earth’s native resources used by 90% or more by 2050. Konica Minolta working on five material issues, including using limited resources effectively throughout its business.
• In November 2023, Covestro's Newark, Ohio, polycarbonate compounding facility achieved ISCC (International Sustainability and Carbon Certification) PLUS certification. This increased the availability of the company's mass-balanced polycarbonate products in the U.S. This step was taken after the certification of Covestro's Baytown, Texas, facility and a major step towards the path of circularity for polycarbonates in the U.S. Makrolon polycarbonate is compounded at Covestro's Newark facility and is a high-grade plastic used in the automotive, electronics, and healthcare industries. With its ISCC PLUS certification, Makrolon RE grades, which are renewable attributed products, can also be manufactured. RE grades are produced using existing infrastructure and can contain up to 89% attributed bio-circular raw materials.
• In January 2023, Teijin Limited received an ISCC PLUS sustainable-product certification for biomass-derived bisphenol A (BPA) polycarbonate (PC) resin products produced in Japan. Teijin was the first Japanese company to obtain ISCC PLUS certification for PC resin products. The newly certified biomass PC resin products offered the same physical characteristics as resins made of conventional petroleum-derived BPA. This can be used in applications such as automotive headlamps and electronic components. Teijin launched a new product lineup called Circular Materials (CM) and the new biomass-derived PC resin products under the names Panlite CM and Multilon CM.
• In August 2022, INEOS supplied the two mass-balanced raw materials, phenol and acetone, from INEOS’ INVIRIDIS product range to Covestro. Covestro would be using these CO2-reduced products to manufacture its polycarbonate plastic. It is used in headlights, other automotive parts, and housings for electronic devices, light guides and lenses, medical devices, and many other applications. They developed more sustainable phenol and acetone products as part of the sustainability strategy and were named INVIRIDIS.
• In January 2022, SABIC introduced LNP ELCRIN EXL7414B copolymer, the company’s first bio-based PC copolymer, for the consumer electronics industry’s net-zero carbon emissions goals. The new copolymer is the first grade in an expanding portfolio to secure the International Sustainability and Carbon Certification Plus (ISCC+) designation. It is formulated with over 50 percent bio-based content from waste materials. LNP ELCRIN EXL resin joined SABIC’s fast-growing bio-based materials offering.

The Polycarbonate Market is segmented and analyzed as below:

• By Application
  • Automotive
  • Electrical & electronics
  • Construction
  • Packaging
  • Consumer goods
  • Medical devices
  • Others
• By Grade
  • General Purpose Grade
  • Flame Retardant Grade
  • PC Alloyed Grade
  • Medical Grade
  • Food Grade
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Flourishing the global automotive industry

4.1.2. Growing usage in building & construction applications

4.1.3. Rising demand from the packaging industry

4.2. Market Restraints

4.2.1. Fluctuations in crude oil prices and stringent restrictions 

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. POLYCARBONATE MARKET BY APPLICATION 

5.1. Introduction

5.2. Automotive

5.3. Electrical & Electronics

5.4. Construction

5.5. Packaging

5.6. Consumer Goods

5.7. Medical Devices

5.8. Others

6. POLYCARBONATE MARKET BY GRADE 

6.1. Introduction

6.2. General Purpose Grade

6.3. Flame Retardant Grade

6.4. PC Alloyed Grade

6.5. Medical Grade

6.6. Food Grade

6.7. Others

7. POLYCARBONATE MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Covestro

9.2. SABIC

9.3. Teijin Industries

9.4. Mitsubishi Engineering Plastics Corp.

9.5. Trinseo

9.6. Idemitsu Kosan Co. Ltd.

9.7. Chi Mei Corporation

9.8. Entec Polymers

9.9. RTP Company

9.10. LG Chem

9.11. Formosa Chemicals & Fibre Corp

9.12. LOTTE Chemical CORPORATION

9.13. Centroplast Engineering Plastics GmbH

9.14. Asahi Kasei Chemical Corporation

Covestro

SABIC

Teijin Industries

Mitsubishi Engineering Plastics Corp.

Trinseo

Idemitsu Kosan Co. Ltd.

Chi Mei Corporation

Entec Polymers

RTP Company

LG Chem

Formosa Chemicals & Fibre Corp

LOTTE Chemical CORPORATION

Centroplast Engineering Plastics GmbH

Asahi Kasei Chemical Corporation