India Polycarbonate Market to Grow with a CAGR of 3.27% through 2029
Growing demand of polycarbonate in optical industry is
expected to drive the India Polycarbonate Market growth in the forecast period,
2025-2029
According to TechSci Research report, “India
Polycarbonate Market- By Region, Competition, Forecast and Opportunities,
2019-2029”, the India Polycarbonate Market stood at USD 1.49 billion in 2023
and is anticipated to grow with a CAGR of 3.27% in the forecast period, 2024-2029.
Initiatives taken by government based on polycarbonate has led to favorable
market conditions for the India Polycarbonate Market. Several factors
contribute to the growth of various polycarbonate products.
In a concerted effort to combat plastic pollution
effectively, the government is making substantial investments in the
development of advanced recycling infrastructure. This includes the
establishment of state-of-the-art recycling facilities equipped with
cutting-edge technology, as well as the promotion of research and development
into innovative recycling techniques. These forward-thinking initiatives have
the potential to significantly increase the recycling rates of polycarbonate
products, thereby fostering a more sustainable and circular economy.
As a trailblazer in the region, India has taken a
significant step towards addressing the plastic waste problem by becoming the
first Asian country to develop a plastics pact. This groundbreaking initiative
brings together key stakeholders from various sectors to collectively tackle
the challenges posed by plastic waste. By setting ambitious targets and
fostering collaboration, the plastics pact aims to drive innovation and
transformative change within the polycarbonate industry. Companies are now compelled
to explore new ways to reduce plastic waste, enhance recycling capabilities,
and develop sustainable alternatives to meet the pact's objectives. This
collaborative approach not only paves the way for a more sustainable future but
also encourages the exchange of knowledge and best practices among industry
players, ultimately leading to a more comprehensive and effective solution to
the plastic waste issue.
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through XX Pages and an in-depth TOC on "India
Polycarbonate Market”
The optical industry primarily relies on polycarbonate
for manufacturing eyewear and optical discs. Polycarbonate, known for its
exceptional characteristics, including high impact resistance, lightweight
nature, and effective UV ray blocking, has become the preferred material for
eyeglass lenses. In fact, it is estimated that more than half of all eyeglasses
worldwide are now made from polycarbonate.
Furthermore, polycarbonate's excellent transparency
and remarkable heat resistance make it an ideal choice for optical discs, such
as CDs, DVDs, and Blu-ray Discs. Despite the digital revolution, these optical
storage media continue to find extensive use in various sectors, including
entertainment, data storage, and software distribution. With their reliability
and durability, polycarbonate-based optical discs ensure that valuable content
can be conveniently accessed and enjoyed by consumers worldwide.
The India Polycarbonate Market is segmented into resin
type, product type, end user, regional distribution, and company.
Based on its product type, the polycarbonate sheets segment
held the largest market share in the forecast period. Polycarbonate sheets are
known for their exceptional optical clarity, ensuring that ample natural light
can effortlessly permeate through. This inherent transparency makes them a
popular choice for various applications, including skylights that provide breathtaking
views of the sky, architectural features that showcase modern aesthetics, and
greenhouses that nurture plants with abundant sunlight.
Moreover, the remarkable thermal insulation properties
of polycarbonate sheets play a pivotal role in reducing heating and cooling
expenses in buildings. By effectively minimizing heat transfer, they contribute
to maintaining a comfortable indoor temperature while optimizing energy
efficiency. Additionally, these sheets possess the remarkable ability to block
harmful UV rays, safeguarding inhabitants and interior furnishings, while still
allowing the pleasant glow of visible light to illuminate the space.
Based on region, West India segment is expected to
grow during the forecast period.
The western region of India is known for its thriving
industries that heavily rely on polycarbonate, including construction,
automotive, and electronics. This concentration of industries not only
contributes to the regional dominance but also fosters economic growth and
innovation in these sectors.
In addition to the concentration of industries, the
region boasts well-developed transportation networks, comprising efficient
ports and distribution centers. These robust networks play a crucial role in
facilitating the seamless movement of polycarbonate products both within and
outside the region, ensuring timely delivery and accessibility to markets far
and wide.
Major companies operating in India Polycarbonate
Market are:
- Covestro (India) Pvt. Ltd.
- SABIC Innovative Plastics India Pvt. Ltd.
- MG Polyplast Industries Pvt. Ltd.
- Gallina India Pvt. Ltd.
- Palram India Pvt Ltd.
- Power Chem Plast Ltd.
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“Growing application of polycarbonate in various end
user industries are key drivers of the polycarbonate market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of polycarbonate with every
passing year are anticipated to register an impressive growth to India
Polycarbonate Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“India Polycarbonate Market By
Resin Type (Virgin Polycarbonate and Regrind Polycarbonate), By Product Type (Polycarbonate
Sheets, Polycarbonate Tubes/Pipes, Polycarbonate Films, Others), By End User (Electrical
& Electronics, Automotive, Building & Construction, Aerospace &
Defense, Medical, Optical, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Polycarbonate Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Polycarbonate Market.
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