India Polycarbonate market is expected to grow impressively
through 2028 due to the growing automotive and electronics industry. In 2022,
India’s automotive industry produced approximately 4.5 million passenger cars.
In the ever-evolving world of technology and
innovation, polycarbonate remains a remarkable miracle material. With its
remarkable properties and broad range of applications, it has revolutionized a
variety of industries. Polycarbonate is a thermoplastic polymer made up of
carbonate groups joined in a long chain, with a chemical formula of (C16H
14O3)n. It is part of the polymers group known as polyesters, and its repeating
carbonate units give it its distinctive properties. It has excellent optical
clarity, which makes it an ideal replacement for glass, and it efficiently
transmits light without compromising its strength or durability. It is highly
impact resistant, virtually unbreakable, and is suitable for applications where
safety is of the utmost importance. Polycarbonate has a high melting point and
is able to retain its shape and integrity at elevated temperatures. Despite its
remarkable strength, it is a lightweight material, with a weight of
approximately 50% less than glass.
Polycarbonate market in India has experienced
significant growth in recent years. Polycarbonate, a high-performance
thermoplastic, has gained popularity in various industries due to its
exceptional properties and extensive applications. Indian polycarbonate market
has witnessed substantial growth, driven by factors such as rapid industrialization,
infrastructure development, increasing disposable income, and a growing
middle-class population. Polycarbonate's unique properties, including high
impact resistance, optical clarity, thermal stability, and lightweight nature,
have made it a preferred choice in numerous sectors.
Polycarbonate is a versatile material that is used
in a wide range of electrical and electronic applications, such as circuit
boards, housings, and lenses. The growing demand for electronic devices in
India is expected to boost the demand for polycarbonate in this sector. Polycarbonate
is a strong and durable material that is also lightweight and transparent. This
makes it ideal for a variety of construction applications, such as skylights,
roofing, and glazing. The increasing demand for infrastructure development in
India is expected to drive the demand for polycarbonate in this sector. Polycarbonate
is used in a variety of automotive applications, such as headlamps, taillights,
and dashboards. The growing demand for automobiles in India is expected to
boost the demand for polycarbonate in this sector.
In the absence of domestic production of
Polycarbonate, the demand for the product in India is entirely met through
imports. Consequently, the market presents a great opportunity for new entrants
to enter the market. To address this, GAIL, a State-owned Natural Gas Company,
has proposed a greenfield project for the establishment of the first
polycarbonate plant in India, with a capacity of approximately 1.6 to 2 million
tons. The location, investments, and other details of the project have not yet
been made public. Due to the high demand of Polycarbonates in India, this
project is expected to generate high revenues after completion.
Furthermore, increasing industrialization, infrastructure
development, and increasing consumer demand are expected to drive the growth of
India polycarbonate market during the forecast period. With its exceptional
properties and versatile applications, polycarbonate continues to revolutionize
various sectors, including automotive, construction, electrical and electronics,
healthcare, and consumer goods. As India progresses towards a technologically
advanced future, the polycarbonate market is poised for further expansion,
offering immense potential for manufacturers, suppliers, and stakeholders in
the industry.
Rapid Industrialization
and Infrastructure Development is Driving Market Growth
India's rapid industrialization and infrastructure
development have been key drivers of the polycarbonate market. As industries
grow and new infrastructure projects emerge, there is a rising demand for
durable, lightweight, and high-performance materials. Polycarbonate, with its
exceptional properties such as impact resistance, thermal stability, and
transparency, has become a preferred choice in sectors like automotive, construction,
electrical and electronics, and more.
Polycarbonate is a strong and durable material that
is also lightweight and transparent. This makes it ideal for a variety of
construction applications, such as skylights, roofing, and glazing. The
increasing demand for infrastructure development in India is expected to drive
the demand for polycarbonate in this sector.
India's growing middle-class population and
increasing disposable income have fueled the demand for consumer goods and
improved living standards. Polycarbonate finds extensive usage in consumer
goods such as eyewear, mobile phone casings, household appliances, and sports
equipment. The material's lightweight nature, impact resistance, and aesthetic
appeal make it highly sought after by consumers. As urbanization continues, the
polycarbonate market is likely to witness further growth due to the rising
demand for quality products.
Growth in Automotive Sector
and Technological Advancements are Driving Market Growth
Automotive sector has been a significant growth
driver for the polycarbonate market in India. With the increasing demand for
fuel-efficient vehicles and stringent safety regulations, automakers are
looking for lightweight materials that offer enhanced performance and design flexibility.
Polycarbonate, being lightweight and durable, is widely used in automotive
applications such as headlamp lenses, interior trims, instrument panels, and
more. The demand for polycarbonate in the automotive industry is expected to
grow further as the focus on electric and hybrid vehicles increases.
Technological advancements and product innovations
have played a crucial role in driving the polycarbonate market in India.
Manufacturers are continuously investing in research and development to enhance
the properties and performance of polycarbonate. This includes improving impact
resistance, UV stability, and heat resistance. The development of new grades
and formulations of polycarbonate with enhanced properties has opened up new
opportunities across various industries, further boosting the market growth.
Government initiatives and regulations have had a
positive impact on the polycarbonate market in India. Initiatives like
"Make in India" and "Smart Cities Mission" have stimulated
industrial growth and infrastructure development, increasing the demand for
polycarbonate. Additionally, regulations and standards related to safety,
energy efficiency, and sustainability have led to the adoption of polycarbonate
in different sectors. The focus on green and eco-friendly materials also
presents opportunities for the development of bio-based or recycled
polycarbonate, aligning with the government's sustainability goals.
Major Challenges faced by Polycarbonate Market
Polycarbonate production relies heavily on raw
materials, particularly bisphenol A (BPA) and phosgene. Fluctuations in the prices
of these raw materials can significantly impact the cost of polycarbonate
production. Price volatility poses challenges for manufacturers in maintaining
stable pricing and profitability. To mitigate this challenge, manufacturers
often engage in strategic sourcing, hedging, and supply chain management
practices to optimize costs and minimize the impact of price fluctuations.
Polycarbonate production involves the use of BPA,
which has been subject to increasing scrutiny due to potential environmental
and health concerns. Regulatory restrictions on BPA and evolving environmental
regulations pose challenges for the polycarbonate market. Manufacturers need to
adapt to changing regulations, explore alternatives to BPA, and invest in
sustainable practices to mitigate the environmental impact associated with
polycarbonate production.
Download Free Sample Report
Recent Trends and Developments
In June 2022, Mitsubishi Gas Chemical launched a
new range of polycarbonate resins that are designed for use in the electrical
and electronics industry. The resins are said to be flame-retardant,
high-strength, and optically clear, and they are available in a variety of
grades.
Trinseo launched a new range of polycarbonate films
that are designed for use in the automotive industry. The films are said to be
optically clear, impact-resistant, and weather-resistant, and they are
available in a variety of thicknesses.
In July 2022, Aditya Birla Chemicals acquired the
polycarbonate business of Solvay in India. The acquisition includes Solvay’s
polycarbonate manufacturing plant in Dahej, Gujarat, and its sales and
marketing operations in India.
In May 2022, LG Chem acquired the polycarbonate
business of Mitsubishi Gas Chemical in India. The acquisition includes
Mitsubishi Gas Chemical's polycarbonate manufacturing plant in Pune,
Maharashtra, and its sales and marketing operations in India.
Market Segmentation
India Polycarbonate Market is
segmented based on Resin Type, Product Type, End User
Industry, and Region. Based on
Resin Type, India Polycarbonate market is categorized into Virgin polycarbonate and Regrind Polycarbonate. Based on Product Type, India
Polycarbonate market is segmented into Polycarbonate Sheets, Polycarbonate
Tubes/Pipes, Polycarbonate Films, and Others. Based on End User Industry India
Polycarbonate market is categorized into Electrical & Electronics,
Automotive, Building & Construction, Aerospace & Defence, Medical, Optical,
and Others. Based on Region, India Polycarbonate market is divided into North
India, South India, West India, East India.
Market Players
Covestro (India) Pvt. Ltd, Everest Industries Ltd.,
SABIC Innovative Plastics India Pvt. Ltd., Bansal Roofing Products Ltd, MG
Polyplast Industries Pvt. Ltd , Tuflite Polymers Ltd., Gallina India Pvt. Ltd.,
Lotus Roofings Pvt. Ltd.., Palram India Pvt Ltd. , Power Chem Plast Ltd., are
some of the key players of the India Polycarbonate Market.
|
Attribute
|
Details
|
|
Base Year
|
2023
|
|
Historic Data
|
2019 – 2022
|
|
Estimated
Year
|
2024
|
|
Forecast Period
|
2025 – 2029
|
|
Quantitative
Units
|
Revenue in
USD Million, Volume inThousand Tonnes, and CAGR for 2019-2023 and 2024-2029
|
|
Report coverage
|
Revenue forecast, volume forecast, company share,
competitive landscape, growth factors, and trends
|
|
Segments
covered
|
Resin Type
Product Type
End User Industry
|
|
Regional scope
|
North India, South India, West India, East India
|
|
Key companies profiled
|
Covestro (India) Pvt.
Ltd , Everest Industries Ltd., SABIC Innovative Plastics India Pvt. Ltd.,
Bansal Roofing Products Ltd, MG Polyplast Industries Pvt. Ltd , Tuflite Polymers
Ltd., Gallina India Pvt. Ltd., Lotus Roofings Pvt. Ltd.., Palram India Pvt
Ltd. , Power Chem Plast Ltd.,
|
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your
exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
|
Report Scope:
In this report, India Polycarbonate market has been
segmented into the following categories, in addition to the industry trends, which
have also been detailed below:
- Polycarbonate Market, By Resin Type:
- Virgin Polycarbonate
- Regrind Polycarbonate
- Polycarbonate Market, By Product Type:
- Polycarbonate Sheets
- Polycarbonate
Tubes/Pipes
- Polycarbonate
Films
- Others
- Polycarbonate Market, By End User Industry:
- Electrical & Electronics
- Automotive
- Building
& Construction
- Aerospace
& Defence
- Medical
- Optical
- Others
- Polycarbonate Market, By Region:
- North India
- South India
- West India
- East India
Competitive landscape
Company Profiles: Detailed analysis of the major companies present
in India Polycarbonate market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
India Polycarbonate Market is an upcoming report to
be released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]