PC Compounding Market By Product Type (PC/ABS, PC/PBT, PC/ASA, PC/PMMA, and PC/PET), By Application (Automotive, Appliance, Electronics, Industrial Parts, Healthcare Parts, and Others), and Region - Global Forecast to 2025
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global PC compounding market is estimated to value at nearly US$ 3.8 Bn in 2019, and is expected to register a CAGR of 4.7% over the forecast period. The global PC compounding market is segmented on the basis of product type, application, and region/country.
Global PC Compounding Market: Introduction
Polycarbonate is a thermoplastic polymer that contains carbonate group in its chemical structure. Polycarbonate compounds have emerged as leading materials for the automotive sector, particularly for automotive glazing applications such as windscreens, side windows, rear windows, and panoramic roofs, as well as for wheel covers, hoods, and safety helmets.
Global PC Compounding Market: Dynamics
Major factors driving growth of the global market is growing demand for PC compounds across various automotive applications. Various types of PC compounds such as PC/ABS, PC/PBT, and PC/PET are used in manufacturing of automotive products as these compounds possess unique properties such as stiffness, gloss, impact, and high heat resistance. PC compounds are also used in production of structural components, glove box, pillars, in glazing, and roof modules in cars.
In addition, growing population, and changing lifestyle of consumers, coupled with stringent government regulations regarding vehicle and passenger safety are among some other major factors expected to further fuel production and sales of vehicles, which in turn expected to bolster demand for PC compounds subsequently and drives growth of the target market over the forecast period.
Furthermore, increasing adoption of PC compounds in wide-range of electronics applications such as in TV frames, laptop monitor enclosures, portable hand-held devices, LCD panels, keypads, adapters and chargers, and mobile phone bodies.
Moreover, PC compounds are also used to manufacture medical devices such as blood oxygenators, reservoirs, automated external defibrillators, auto-injectors, mobile medical injector pumps, oxygen concentrators, intravenous access, and injection systems, owing to its excellent optical clarity, high heat distortion temperature, and chemical resistance to alcohol and lipids.
However, availability of several substitutes to PC-compounds such as PVC, PP, PUR, PVC, ABS, and PS are expected to hamper demand for PC compounds and restrain growth of the target market in the near future. In addition, stringent government regulations regarding the use of materials for windshield glazing applications is another factor expected to restrain growth of the target market.
Ongoing trend observed in the target market is strategic consolidation activities among global and regional players and rising focus to increase production capacity by PC compound manufacturers which in turn helps to cater rising demand. This trend is expected to continue over the forecast period, and is expected to boost growth of the target market.
For instance, in October 2018, Celanese Corporation signed an agreement to takeover Next Polymers Ltd. India, which is among the India’s leading engineering thermoplastics companies, engaged in manufacturing, export, and supply of a large compilation of reinforced polycarbonate, acrylic butadiene styrene compounds, and PMMA colored compounds.
Increasing manufacturers focus towards development of innovative technologies and new product launches are some other factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.
For instance, in October 2018, Saudi Basic Industries Corporation launched new ultra-high melt flow PP for lightweight breathable nonwoven fabrics in personal hygiene applications. Additionally, the company launched new Thermocomp HMD-D series of high modulus ductile compounds to the Americas and Europe at NPE 2018.
Global PC Compounding Market Analysis, by Product Type
Among the product type segments, the PC/ABS segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The PC/ABS segment is expected to register CAGR of over 4.8%, owing to increasing demand for PC/ABS for applications such as automotive, electronics, consumer products, appliances, medical, and electrical. The PC/PBT segment is expected to account for second-highest CAGR over the forecast period.
Global PC Compounding Market Analysis, by Application
Among the application segments, the automotive segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The automotive segment is expected to register CAGR of over 4.8%, owing to increasing adoption of PC compounds in automotive lighting, head lamp lenses, dashboards, interior cladding, and exterior parts such as bumpers, body panels, etc.
Global PC Compounding Market Analysis, by Region
The market in China is expected to dominate in the global PC compounding market and is expected to continue its dominance over the forecast period. Increasing vehicle production and increasing adoption of PC compound in the automotive sector is a major factor driving growth of the China PC compounding market. According to International Organization of Motor Vehicle Manufacturers, vehicle production in 2017 grew by 3.19% compared to 2016.
In addition, increasing investment by manufacturers in research and development activities for innovative product launches is another factor expected to support growth of the market in China. For instance, in September 2014, DowDuPont Inc. opened innovation center in Shanghai, China, which will feature its latest innovations, applications, and products that address local market needs in food, energy, automotive and protection, as well as computer, communications and consumer electronics, sectors.
In addition, growing automotive sale across various countries in Europe and increasing adoption of PC compounds by automotive manufacturers for various applications such as middle consoles, blow molded seatbacks, overhead consoles, etc., owing to properties such as high impact strength, high heat resistance, colorable and printable, etc., are major factors driving growth of the PC compounding market in Europe. According to International Organization of Motor Vehicle Manufacturers, production of vehicles in Russia, France, and Turkey respectively increased by 19.1%, 6.5%, and 14.2% in 2017 as compared to the previous year.
Increasing smart TV penetration, especially in developing countries such as India and Brazil, coupled with growing consumer shift towards technologically advanced products are key factors expected to drive growth of the market in RoW over the forecast period.
Automotive manufacturers preference towards reducing vehicle weight in order to optimize fuel efficiency and reduce CO2 emissions in vehicles in Japan. Increasing demand for PC compounds from the automotive industry, particularly for automotive glazing applications such as side windows, windscreens, rear windows, and panoramic roofs, as well as for wheel covers, hoods, and safety helmets, is expected to drive growth of the target market in Japan over the forecast period.
Global PC Compounding Market Segmentation:
Global PC Compounding Market Segmentation, by Product Type:
Global PC Compounding Market Segmentation, by Application:
- Industrial Parts
- Healthcare Parts
Global PC Compounding Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Mitsubishi Chemical Holdings Corporation
- GRUPO REPOL
- Polyram Plastics Industries Ltd.
- DowDuPont Inc. (E. I. du Pont de Nemours and Company and The Dow Chemical Co.)
- Formosa Chemicals & Fibre Corporation, MRC Polymers, Inc.
- Covestro AG
- Saudi Basic Industries Corporation
- Teijin Limited
- LOTTE Chemical Corporation (LOTTE Advanced Materials CO., LTD.)
- Chi Mei Corporation
- Daicel Corporation
- RTP Company, Inc.
- PolyOne Corporation
- Gardiner compounds Ltd.
- Ever Plastic Co. Ltd.
- Shanghai Kumho Sunny Plastics Co., Ltd.
- Kingfa Sci. & Tech. Co., Ltd.
- Silver Age Sci & Tech Co., Ltd.
- ZHEJIANG JUNER NEW MATERIALS INC.
- Shanghai PRET Composites Co., Ltd.
- Qingdao Gon Technology Co., Ltd.
- Shenzhen WOTE Advanced Materials Co., Ltd.
- Novalca S.r.l
- Sparsh Polychem Private Limited
- Shenzhen Fuheng New Materials Co., Ltd.
- Guangzhou Jusailong Engineering Plastics Co., Ltd.
- Nord Color S.p.A
- Jiangsu Ginar Plastic Technology Co., Ltd.
- Polyrocks Chemical Co., Ltd.
- Nevicolor SpA
- ALTEX s.r.l.
- ANSA TERMOPLASTICI S.R.L.
- LG Chem, Ltd.,
- Sumitomo Chemical Co. Limited.
- Chapter 1 Preface
- 1.1 Report Assumptions
- 1.2 Research Methodology
- 1.3 Abbreviations
- Chapter 2 Market Overview
- 2.1 Market Definition & Scope of the Report
- 2.1.1 Market Definition
- 2.1.2 Scope of the Report
- 2.2 Product Overview
- 2.3 PC Compounding Market Segment, by Type
- 2.3.1 Global PC Compounding Market Volume (MT) and Growth Rate (%) Comparison, by Type, (2013–2025)
- 2.3.2 Global PC Compounding Market Volume Share (%), by Type, 2017
- 2.3.3 PC/ABS
- 2.3.4 PC/PBT
- 2.3.5 PC/ASA
- 2.1 Market Definition & Scope of the Report
- Chapter 1 Preface
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