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3. SABIC (Saudi Arabia) and Covestro AG (Germany) are the Key Players in the Polycarbonate Sheets Market

The polycarbonate sheets market is projected to grow from USD 1.69 Billion in 2018 to USD 2.11 Billion by 2023, at a CAGR of 4.5% between 2018 and 2023. The growing demand for polycarbonate sheets from various end-use industries has led to significant developments in the market. Polycarbonate sheets are used across various end-use industries such as automotive, construction, and electrical & electronics, among others. The growth of these industries is expected to drive the demand for polycarbonate sheets across the globe.

Key players operating in the polycarbonate sheets market include SABIC (Saudi Arabia), Covestro AG (Germany), Trinseo S.A. (US), Teijin Limited (Japan), Mitsubishi Gas Chemical Company, Inc. (Japan), Evonik Industries AG (Germany), Suzhou Omay Optical Materials Co., Ltd. (China), Excelite (China), Plazit-Polygal Group (Israel), Arla Plast AB (Sweden), 3A Composites GmbH (Germany), Palram Industries Ltd. (Israel), Ug-oil-Plast Ltd. (Russia), Gallina India (New Delhi), Koscon Industrial S.A. (Switzerland), Isik Plastik (Turkey), Brett Martin Ltd. (UK), and Spartech (US). Some of these companies are involved in the production of different types of polycarbonate sheets while others are engaged in manufacturing polycarbonate resins along with the end-products.

Substantial investments have been made toward new product launches and expansions by SABIC (Saudi Arabia), Covestro AG (Germany), Trinseo S.A. (US), Teijin Limited (Japan), Mitsubishi Gas Chemical Company, Inc. (Japan), Evonik Industries AG (Germany), and Suzhou Omay Optical Materials Co., Ltd. (China).

SABIC (Saudi Arabia) has been focusing on new product launches to meet the increased demand for polycarbonate sheets from consumers across the globe and to enter the untapped markets. In January 2018, SABIC launched LEXAN CXT resin, a new line of high-clarity, high-heat, and injection moldable polycarbonate copolymer resin used in optical electronics, consumer & industrial, and healthcare industries’ applications. With this launch, the company has strengthened its portfolio of polycarbonate sheets. In September 2017, SABIC launched LEXAN HF4010SR, a polycarbonate material that enables customers to develop complex headlight bezels. With this launch, the company enhanced its product offering of polycarbonate sheets. These new product launches helped SABIC increase its market position in the global polycarbonate sheets market.

Covestro AG (Germany), another leader in the polycarbonate sheets market, has been focusing on the strategy of new product developments and expansions to attain a large share in the polycarbonate sheets market. In February 2018, Covestro launched Makrolon Rx3440 polycarbonate for medical grade polycarbonate applications. This launch helped the company enhance its product portfolio of polycarbonate sheets. In May 2017, Covestro expanded its production capacity for high-tech plastics at its site in Shanghai (China). The company is installing an additional capacity of 200,000 metric tons to the existing 400,000 metric tons to satisfy the growing demand for polycarbonates in Asia. This expansion is scheduled to be completed in 2019 and will significantly improve the market position of Covestro in the Asia Pacific region. These strategies are expected to help the company expand its market reach to untapped locations and increase its share in the polycarbonate sheets market.

Related Reports:

Polycarbonate Sheets Market by Type (Solid, Multiwall, Corrugated and Others), End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & electronics and Others), Region - Global forecast to 2023

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