The Polycarbonate Films Market is estimated at USD 1.10 billion in 2017 and is projected to reach USD 1.52 billion by 2022, at a CAGR of 6.6% between 2017 and 2022. The growing usage of polycarbonate films due to their superior properties has resulted in an increased demand, especially from electrical & electronics industry. The market growth is further catapulted with the increasing number of technological advancements taking place in the field of polycarbonate films.
The major challenge for the growth of the polycarbonate films market is the shortage of raw materials. The demand for polycarbonate resin has increased in recent years. However, due to recent shutdown of polycarbonate resin plants by various manufacturers, the supply-demand balance has been disrupted. Thus, the reduced capacity of raw materials is expected to hinder the growth of the polycarbonate films market in the future.
APAC is the leading polycarbonate films market, in terms of value and volume. Countries such as China, India, Japan, Indonesia, South Korea, Taiwan, Thailand, and Malaysia are witnessing a gradual increase in the use of polycarbonate films. APAC is projected to be the fastest-growing polycarbonate films market. With rising disposable incomes and strong growth in the electrical & electronics industry in the region, the use of polycarbonate films is expected to rise in this region.
Optical polycarbonate films is the largest segment of the polycarbonate films market, by type. This segment is projected to register the highest CAGR during the forecast period. Optical polycarbonate films are widely used in different display and lighting applications as they possess excellent clarity, light transmission properties, and impact resistance. It has a considerable potential for use in the electrical & electronics and transportation industries.
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Electrical & electronics is the fastest-growing end-use industry of polycarbonate films. In this industry, the growing usage of polycarbonate films for various applications, such as electrical insulator & connector, membrane switches, LCD displays in consumer electronics, graphics arts, control panel overlays, remote control overlays, printed circuit boards, is the major factor driving the polycarbonate films market.