By 2024, polycarbonate film consumption will exceed 550,000 tons
Global market Insights' newly released report, "Polycarbonate Film Market," indicates that the size of the polycarbonate film market could exceed $24 billion by 2024 as consumers' demand for light and durable vehicles continues to grow. The material's strength, wear resistance and optical clarity will also appeal to the electronics, construction and medical industries, further driving growth during the forecast period. PC film is recyclable and its mechanical, electrical and thermal properties make it suitable for a wide range of end-use applications.
Demand for flame-retardant PCS in electrical and electronic applications is expected to exceed 35,000 tons by 2024. The material is lightweight and impact-resistant and is suitable for sensor parts, mobile phones, connectors, switching relays and CDS. The research note also noted that strict government regulations restricting the use of heavier materials such as glass and metal in different industries could also boost demand.
PC film demand in China will grow by more than 8.5 percent during the forecast period, with the consumer electronics sector accounting for about 25 percent of the total market demand in 2017. Changing macroeconomics, such as rising disposable income and education levels, as well as a growing population, are the major factors driving the growth of the electronics market, which in turn is driving the growth of the PC thin film market.
The market demand for PC films in Germany is expected to exceed $130 million by 2024, driven by rising automotive production and favorable regulations. This trend is also supported by a strong emphasis on research and development and advanced technologies, as well as substitution of materials such as metal and glass.
Optically composite PC films for home appliances will see growth of about 8 percent in Japan from 2018 to 2024. Chemical resistance and "pencil hardness" make this material a popular choice for switch coverings and labels.
The research report concludes that investing heavily in research and development to reduce manufacturing costs and meet various environmental regulations could spur industry growth.