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NEW YORK , Feb. 9, 2022 /PRNewswire/ -- The latest report by Technavio on the polycarbonate market in China infers that the increasing applications of polycarbonate materials in end-user industries is driving this market's growth, resulting in market growth of USD 4.59 billion from 2021 to 2026.
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The polycarbonate market in China covers the following areas:
Polycarbonate Market In China Sizing Polycarbonate Market In China Forecast Polycarbonate Market In China Analysis
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Chimei Corp., Covestro AG, Idemitsu Kosan Co. Ltd., LG Chem Ltd., Lotte Chemical Corp., Mitsubishi Engineering-Plastics Corp., Saudi Basic Industries Corp., SAMYANG HOLDINGS Corp., Teijin Ltd., and Trinseo SA, among others, are some of the few key vendors competing to maintain their market position.
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Latest Trends and Drivers in the Polycarbonate Market in China
The aerospace industry requires small and light components to reduce material costs. This has driven the need for the miniaturization of electronic components. The use of advanced materials, such as polycarbonates, has increased in the manufacture of optoelectronics, owing to its superior optical and mechanical properties. Thus, the increasing applications of polycarbonate materials in industries is expected to boost the growth of the market.
Polycarbonate materials are used in various components, such as acoustic panels, instrument panels, and anti-vibration panels, in the automotive industry. Strong support from the government and ad hoc tax incentives have led to high sales in the automotive industry in China . The increased local production of automobiles mitigates the issue of low plant capacity utilization of some of the local manufacturers in The country. This enables domestic brands to increase their market shares. Thus, the rising demand for polycarbonate materials from different industries in China will drive the growth of the market during the forecast period.
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Polycarbonate Market Scope in China
Accelerate at a CAGR of 8.62%
Leading companies, Competitive strategies, Consumer engagement scope
Chimei Corp., Covestro AG, Idemitsu Kosan Co. Ltd., LG Chem Ltd., Lotte Chemical Corp., Mitsubishi Engineering-Plastics Corp., Saudi Basic Industries Corp., SAMYANG HOLDINGS Corp., Teijin Ltd., and Trinseo SA
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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