China polycarbonate sheets market was evaluated at US$302.229 million for the year 2020, growing at a CAGR of 9.54%, reaching the market size of US$571.784 million by the year 2027.
Bisphenol A (BPA) and phosgene gas react to form polycarbonate resins, which are strong thermoplastics. Polycarbonate is a transparent, amorphous, ductile plastic that can withstand high temperatures. It is suitable for several applications due to its UV and chemical resistance. Because of the aforementioned attributes, as well as its transparency and lightweight, it is used in a variety of industrial and commercial applications for tail, back-up, and fog lights, as well as visually pleasing components in the automotive and transportation industries.
These sheets, also known as thermoplastic sheets, have unique quality in that they do not degrade significantly when heated to their melting point. Polycarbonate sheets are also 250 times stronger than glass and nearly 30 times stronger than acrylic sheets. These characteristics have allowed them to be used in several engineering applications and drive the market.
China is one of the largest polycarbonate consumers, with the electrical and electronics sector accounting for nearly half of total demand. Electrical and electronics manufacturers are gradually shifting production from high-cost to low-cost locales. Because of its low labor costs and flexible policies, China is a powerful and favorable market for electronics manufacturers. Furthermore, the demand for electronic devices is expected to rise shortly as the middle-class population's disposable income rises, pushing the polycarbonate market.
Moreover, the rising demand for high-performance polycarbonate sheets is likely to propel the China polycarbonate sheets market forward. Furthermore, the growing demand for polycarbonate sheets will benefit the China polycarbonate sheets market due to their exceptional thermal resistance, impressive optical cavity, dimensional stability, and outstanding impact resistance. Additionally, the growing use of polycarbonate sheets in China's thriving automotive and construction industry is likely to boost market expansion during the forecast period. China's automotive industry has had commercial success owing to rising government support and ad hoc tax concessions.
However, raw material price variations, as well as the environmental consequences of polycarbonate sheets, are anticipated to hinder the growth of the polycarbonate sheets market in China.
By type, the multiwall segment is predicted to grow at the fastest rate over the forecast period. The cellular structure of multiwall polycarbonate sheet products has at least two walls and connective ribbing. This results in an inflexible, impact-resistant sheet that is virtually lighter in weight than solid polycarbonate, acrylic, or glass sheets due to the air voids (cells) that enable less heat exchange. Furthermore, the multiwall polycarbonate item has a wide range of applications for both interior and exterior segments, including wall cladding, exterior roofing, and coating applications, as well as displays and POP marketing displays.
By End-User, the automotive industry accounts for the majority of polycarbonate sheet demand in the country. In terms of production, China lists as the world's major automotive market. Due to their competitive cost, outstanding performance, style, dependability, strength, and safety, lightweight polymers are in high demand in the automotive industry. Plastic components weigh nearly half as much as identical components made of other materials, resulting in a 25% to 35% increase in fuel efficiency, a critical element in the automobile and transportation industries. It is believed that every 10% reduction in vehicle weight results in a 5% to 7% reduction in fuel consumption. Polycarbonates are used in the automotive industry for energy absorption, weight reduction, bumper shock absorption, and the reduction of explosion risks in fuel tanks, seat belts, airbags, door and seat assemblies, subsystems, bumpers, under-bonnet components, exterior trim, and other applications.
In August 2021, CHIMEI Corporation revealed that its Chinese subsidiary, Zhangzhou CHIMEI Chemical Co., Ltd., will expand its manufacturing technology blueprint by introducing the newest variPLANT to construct a new polycarbonate production site. The new facility will have a production capacity of 180,000 tons and will begin mass production in 2024.
Covestro debuted Makrolon RE, a drop-in, low-carbon footprint, medical-grade polycarbonate solution, in March 2022, as part of its product portfolio growth in the medical and healthcare industry.
Teijin Limited announced in August 2020 that thermoplastic materials created with its Tenax carbon fiber and Panlite polycarbonate alloy resin had been adopted for use in cocoa motors' WALKCAR®, the world's first laptop-sized automated people mover (APM).
The COVID-19 outbreak had a relatively negative effect on the Chinese polycarbonate sheets market. The pandemic has hampered the operations of various companies, including the end-user industries of polycarbonate sheets. China's lockdowns have harmed demand for consumer devices such as smartphones, computers, and televisions. Likewise, there has been a pause in the growth of the automobile sector. Construction activities have been halted globally due to worker scarcity, and in certain areas, activities have been suspended due to lockdown laws. The shutdown has disrupted the worldwide supply chain, which has contributed to drop-in building activity and, as a result, the polycarbonate market. With the COVID-19 pandemic, however, medical device makers in China are focusing more on technology like polycarbonate. The urgent demand for more pharmaceutical-grade polycarbonate has been exacerbated by the worrying shortages of medical supplies for doctors and nurses fighting the COVID-19 outbreak. Furthermore, product improvements for medical applications and increased commercialization of the bio-polycarbonate market are expected to present future opportunities.
Chi Mei Corporation
Mitsubishi Engineering Plastics Corporation
Lotte Chemical Corporation
Bofan Polycarbonate Sheet
Zhong Shan Good Life Sun Sheet Co., Ltd.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.