Polycarbonate composites market to derive extensive proceeds from the automotive plastics segment over 2019-2025, APAC to remain a dominant growth avenue
Publisher : Fractovia | Published Date : 2019-05-09Request Sample
The global polycarbonate composites market share is witnessing a renewed momentum in the last few years owing to the product’s deployment across numerous business verticals such as automotive, consumer electronics, and medical equipment. By the virtue of being a highly versatile polymer, polycarbonate composites can be mixed with other materials to enhance its inherent properties such as high tensile strength, heat-deflection temperature, and moisture resistance. Apparently, these polymers can be utilized anywhere from manufacturing fighter jet windshields or a race car. This versatility presents a massive opportunity across various applications for the product, invariably propelling polycarbonate composites market trends.
How the automotive sector has emerged as one of the foremost end user segment of the global polycarbonate composites industry?
It won’t be an exaggeration to state that very few business verticals have experienced the kind of overwhelming growth seen by the global automotive sector over the last few decades. Even though the automakers across the globe are now toying with the idea of building self-driving cars and fully-electric vehicles, constant innovation and integration of newly developed ancillary products in making the vehicles more efficient in terms of fuel usage and safety have always been the cornerstones of the growth story of the automotive sector. In this regard, it has to be noted that fuel efficiency has always been a top priority for almost all automakers since the turn of this century.
U.S. polycarbonate composites market, by end-user, 2014 - 2025 (USD Million)
Elaborating further on the mindset of automakers regarding fuel consumption, it is a well-established fact that cutting down a car’s weight by one-tenth can boost fuel economy by almost 6-8 percent. And this is where the criticality of polycarbonate composites comes into the picture, as these products are being increasingly preferred by automakers to build vehicles that are lighter in weight. Although the market share held by automotive plastics in the polycarbonate composites industry is moderate as of now, it is certainly set to register a decent CAGR of 6 percent over the upcoming years – a figure that has been quoted in an in-depth research report compiled by Global Market Insights, Inc.
Moreover, a typical vehicle contains more than 10 kilograms of polycarbonates in numerous forms, with the polymer being used in manufacturing small window panes and sunroofs. Additionally, the polycarbonate in a PC/ABS blend provides benefits in dimensional stability, aesthetics, and overall scratch resistance, and in headlights and displaced glass. Needless to mention, the usage of polycarbonate in the automotive applications has increased substantially in the last few years and is set to grow with improving passenger car sales owing to optimistic economic conditions globally, essentially boosting the polycarbonate composite market trends.
Despite a promising growth outlook, the polycarbonate composite industry might face a few daunting challenges in the future owing to the rising emphasis on reducing plastic usage across all the business verticals. Moreover, as biodegradability of polycarbonate composites is a matter of concern, healthcare regulatory authorities are formulating stringent regulations with respect to its usage. The guidelines prescribed for medical instrument manufacturers may pose some significant obstacles for the polycarbonate composites market players in the times to come.
In terms of regional growth expanse, Asia Pacific has established itself as one of the most lucrative terrains for the polycarbonate composites industry over the recent years. The tremendous progress made by the automotive sector in Asia Pacific nations is quite unprecedented, impelling the regional polycarbonate composites market share. In addition to this, manufacturing of medical instruments in South Korea, China, and India has proved to be an excellent opportunity for the makers of polycarbonate composites in the region.
Owing to their superior flame retardant properties and high mechanical strength, polycarbonate composites are being regarded as vital components across expansive sectors such as automotive and healthcare. As these business verticals continue to register excellent growth rate, it is a given that polycarbonate composites industry would invariably expand at a commendable pace in the forthcoming years.
