Growing consumer demand from the automotive sector for lightweight, durable cars may drive the polycarbonate (PC) film market to surpass $24 billion by 2024, according to a new report, Polycarbonate Films Market, from Global Market Insights Inc. (Selbyville, DE). The material’s strength, abrasion resistance and optical clarity will also appeal to the electronics, construction and medical sectors, further propelling growth during the forecast period. PC films are recyclable and their mechanical, electrical and thermal properties make them suitable for use in various end-use applications.
PC with flame retardants is seeing demand in electrical and electronics applications, which may exceed 35 kilo-tons by 2024. The material’s light weight and impact resistance makes it suitable for use in sensor parts, cell phones, connectors, switching relays and CDs. The research report also notes that stringent government regulations that restrict the use of heavier materials, such as glass and metals, in various industries may also boost demand.
Demand for PC film in China may see gains of more than 8.5% during the forecast timeframe, with the consumer electronics industry accounting for about 25% of total market demand in 2017. Changing macroeconomics, such as rising disposable incomes and education levels and an expanding population are the primary factors contributing to the growth of the electronics market, which in turn drives PC film market growth.
Market demand for PC films in Germany is anticipated to surpass $130 million by 2024, driven by rising automotive production and favorable regulations. A strong focus on R&D and advanced technologies, and the replacement of materials such as metal and glass, is supporting this trend.
Optical blend PC films for household appliances will experience approximately 8% growth in Japan between 2018 and 2024. Chemical resistance and “pencil hardness” make the material a popular choice for switch overlays and labels.
Strong R&D spending to reduce manufacturing costs and satisfy various environmental regulations may stimulate industry growth, the research report concludes.