Polycarbonate films market size is forecast to reach $3 billion by 2025, after growing at a CAGR of 7% during 2020-2025. Polycarbonate film provides an outstanding optical clarity, printability, impact strength, and dimensional stability along with high temperature resistance, halogen free flame retardance, chemical resistance, and superb workability for secondary processes such as die-cutting, embossing, and thermoforming compared with other types of plastic films such as PVS, PP, and PE. Due to such special properties of polycarbonate films, the demand is growing from various applications including automotive parts, lenses, industrial equipment and housing components, and electrical insulators and connectors.
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Type – Segment Analysis
Among the various type, the optical polycarbonate films segment dominated the global market in 2019 and is projected to be dominant throughout the forecast period. This is attributed to the growing demand for optical PC films from automotive and electrical & electronics as this film is widely used for the display and lighting and automotive dashboard and interior applications.
Application – Segment Analysis
Segmentation based on applications, the Electrical & electronics segment has been the primary market for polycarbonate films during the forecast period due to growing number of consumer electronics. Due to its superior optical properties these films are used in number of applications such as power housing, connectors, and battery boxes. Furthermore, the growing electrification in automobiles and rising sales of electric vehicles will drive the growth of this market over the forecast period.
Geography – Segment Analysis
In 2019, the APAC region dominated the global polycarbonate films market with a share of more than 35% and is estimated to dominate throughout the forecast period followed by North America and Europe. The growing automotive, transportation, and electronic sector in China India, Japan, South Korea, Taiwan, and Thailand are likely to drive the growth of this market in the APAC region during the forecast period. Furthermore, the increasing urbanization and the growing population is also contributing for the growth of polycarbonate films market share across the region during the forecast period.
Drivers – Polycarbonate Films Market
The automotive and electronics sector are more inclined towards the excellent printability, a full range of color capability, anti-fog, flame retardant, light tramission, and impact resistant product due to growing demand for advanced technology in automobiles. Polycarbonate films are the best materials that fulfills the industrial requirement and can be used to enhance the look of product for a stylish and effective appearance. In automotive, polycarbonate is used for window installation, dashboard, and display and lighting design. Additionally, polycarbonate film is progressively substituting standard glass and other conventional elastomers in automotive applications. Furthermore, polycarbonate films are used to make a multiple number of electrical accessories and hardware gadgets including ID and security cards, graphic film products, reflective panels, and LED/LCD display windows. Polycarbonate films are highly preferred in the electrical and electronic industries as they are one of the safest and most durable materials. The market growth of polycarbonate films is increasing due to the high demand for lighting applications, which has high-temperature resistance along with impact resistance and excellent light transparency. Additionally, growing electrification in vehicles is also driving the demand for polycarbonate films during the forecast period.
Polycarbonate film has become very popular because of its extreme durability and resistance to harsh conditions especially when compared to glass and metals. Polycarbonate films are progressively becoming a substitute for conventional materials such as metals, glass, and wood. The easy availability and cost benefit are increasingly making films as an appropriate alternative to traditional materials. Polycarbonates possess a unique blend of strength, rigidity and toughness which pave way for its use in the medical packaging. It can be molded easily into intricate objects, which are widely used in the medical industry. Due to its excellent dielectric strength, low moisture absorption and high dimensional stability, the popularity of polycarbonate films is growing across various industry verticals compared to other alternatives, which in turn drive the growth of polycarbonate films during the forecast period.
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Challenges – Polycarbonate Films Market
The manufacture of polycarbonate films requires high investment in raw materials, machinery and other technology required to process the polymer into finished products. The market is very capital intensive, which requires extended periods for payback and thus, the small, emerging players cannot enter the market without a substantial risk.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polycarbonate Films market. In 2019, the market of Polycarbonate Films has been consolidated by the top five players accounting for xx% of the share. Major players in the Polycarbonate Films Market are TEKRA, Covestro AG, SABIC, 3M, Teijin Limited Mitsubishi Gas Chemical Company, Suzhou Omay Optical Materials, RoWland Technologies, MGC Filsheet and Excelite, Sichuan Longhua Film, among others.
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