Polycarbonate is a strong, transparent, and amorphous high-performance thermoplastic polymer. It has outstanding qualities such as moisture resistance, chemical resistance, and electrical resistance, as well as thermal stability. It is made by a step-growth polymerization technique. Furthermore, the polycarbonate resins generated may be converted into components by injection molding and extrusion processes.
The worldwide Polycarbonate market was valued at US$ 18,398.2 Mn by the end of 2019, and it is predicted to increase at a CAGR of 6.1 percent during the forecast period.
The growing demand for the product from packaging applications is moving the polycarbonate industry forward. Polycarbonate market expansion is projected to be aided by shifting preferences for polymers in food and beverage packaging due to their durability. Furthermore, increased demand for high strength and quality materials for packaging consumer goods and food products is expected to fuel polycarbonate market expansion throughout the predicted period.
Growing disposable income, along with a growing global population, is likely to drive polycarbonate market expansion. The expansion of end-user industries in the developing world is also contributing to the growth of the polycarbonate market. A high GDP growth rate in developing nations is also projected to drive market expansion. Furthermore, increased awareness of the benefits of polycarbonate among manufacturers is increasing demand, hence boosting market expansion.