Rising applications in electronics & electrical industry likely to propel Polycarbonate Films Market proceeds over 2020-2024
Polycarbonate films market is poised to witness a tremendous growth over the projected timeframe of 2018 to 2024 considering the accelerating product demand across electronics and automotive industries owing to its high performance and energy efficiency properties. Further, these films have an immense potential to transform the materials used in automotive, architecture, healthcare, household goods and consumer electronics which will open new growth avenues for the industry in the foreseeable future.
Considering the elevating product demand, major industry players operating in polycarbonate films market such as Covestro, SABIC, Teijin, Wiman, Excelite and Rowland Technologies are inclined on developing innovative products and are investing heavily in R&D activities in order to strengthen their product portfolio and gain a strong presence in the market.
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According to Global Market Insights, Inc. report, polycarbonate films market size is estimated to surpass USD 2.4 billion by 2024.
A gist of prominent growth drivers for polycarbonate films industry
Rising application of polycarbonate films in automotive industry
Shifting preference for lightweight vehicles along with strict regulations pertaining to the usage of glass and heavy metals in automotive industry are currently serving as the growth drivers for the polycarbonate films market across the automotive industry.. Potential benefits offered by these films such as enhanced fuel efficiency, durability and weather resistance, have compelled various automakers to predominantly adopt these materials in the design and development of automobiles. Apart from the light weight feature, these films also facilitate reduction of alteration, ripple and optical defects in automobiles.
Increasing product usage in healthcare sector
Polycarbonate films are immensely used in healthcare industry considering its optical and mechanical properties. Also, these films offer resistance to cleaning agents and sterilizers due to their moisture-resistant, mechanical and thermal characteristics which makes them suitable for packaging of surgical instruments, medical devices and transplants which are radiation-sterilized. Further, growing demand for diagnostic equipment along with orthopedics, patient monitoring equipment, consumables, patient aids and dental products, will stimulate the market growth.
An overview of pivotal trends likely to propel polycarbonate films market growth
Growing popularity of optical polycarbonate films across automotive industry
Optical PC films segment is estimated to register a valuation of more than USD 1.2 billion by 2024. This can be attributed to elevating demand from automotive sector for the manufacturing of light weight vehicles. In addition, these products provide crucial benefits including thermal stability, dimensional stability, clean edge die-cutability in automobiles.
Augmenting adoption of retardant polycarbonate films
Flame retardant polycarbonate segment is expected to record appreciable gains of over 7% by 2024 owing to its wide application in dielectric insulations, overlays and labels and in printed circuit boards. This is primarily due to numerous advantages offered by the product such as electrical and thermal insulation, high impact strength, light weight and compatibility with adhesives.
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Increasing demand for weatherable polycarbonate films electronics applications
Valuation for weatherable PC films segment is estimated to exceed USD 270 million by 2024 considering the extensive product usage as signages, warning labels and display windows. Moreover, it is also used in electronics products as it provides certain key benefits such as UV resistance, abrasion, durability and chemical resistance which in turn will enhance the segment growth.
Heightened medical applications in North America
North America polycarbonate films market dominated by the U.S. and Canada is expected to record significant gains of 6.5% by 2024 owing to advancements in medical technology along with stringent demand on materials regarding hygiene, durability and service life. Increasing demand for sophisticated medical devices for diagnostics to surgical applications will positively influence the product demand across the region on account of its excellent moisture and thermal properties.
Rising preference for polycarbonate films in Europe
Europe polycarbonate films market led by France, Germany and UK is projected to register a valuation of more than USD 650 million by 2024. This can be attributed to the initiatives taken by European Polycarbonate Sheet Extruders (EPSE) for encouraging the usage of polycarbonate sheets in the region and for developing the industry standards. The reason for this endorsement by EPSE can be attributed to the benefits offered by polycarbonates such as high strength, fire resistance and sustainability.
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