Rapid Expansion Of The Automobile Industry To Drive The Polycarbonate Market

2024-10-22 05:01:50

(MENAFN- Straits Research) Introduction

Polycarbonate is formed with the reaction of bisphenol-A with carbonyl chloride in an interfacial process. Polycarbonate belongs to the polyester family of plastics and is one of the fastest-growing engineering plastics. The global demand for polycarbonate exceeded 1.5 million tons as it is extensively used in an array of packaging products and manufacturing industries.

High-performance plastics are largely used in the automobile industry for its durability, strength, resistance to chemical environment, and cost-effectiveness, among others. The prevailing economic and environmental concerns make fuel efficiency their topmost priority, making polycarbonate an ideal material of choice.
As per the data provided by the European Commission, the automobile industry employs around 13.9 million Europeans and contributes about 7% to the total GDP. They are extensively used in making car wiper arm, headlamp retainer, gear housings, engine cover, and connector housings.

Competitive Players

SABIC

Bayer AG

Covestro AG

Teijin Limited

Chi Mei Corp.

Idemitsu Kosan

Mitsubishi Engineering Plastics Corp.

Trinseo S.A.

LG Chemicals

RTP Company

Lotte Chemical Corporation.

Recent Developments

October 2022, Trinseo, one of the biggest producers of polystyrene in Europe, has announced the commercialization of its STYRON X-TECHTM 4660 Polystyrene Resins for Extruded Polystyrene.
February 2022, RTP Company has expanded into Poland with a new manufacturing facility to support custom compounded thermoplastics in Europe.

Segmentation

By Type Sheets & Films

Plates

Blends

Fibers

By End-User

Construction

Packaging

Automotive

Medical Devices

Electrical & Electronics

By Grade

General Purpose Grade

High Performance Grade

Optical Grade

Flame Retardant Grade

Others

MENAFN22102024004597010339ID1108805913

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.