South Africa Polycarbonate Resin Market - Forecast(2021 - 2026)
South Africa polycarbonate resin market size is forecast to reach $X million by 2025, after growing at a CAGR of 6% during 2020-2025, owing to the rising usage of polycarbonate resins in the various end-use industries. In the electronics industry, more mobile phones and tablets are using polycarbonate resins as it reduces weight when compared to regular plastic. Also, polycarbonates are popular in eyewear as they are lightweight and possess a natural ultraviolet filter. The demand for polycarbonate resins is increasing in varied industries for various applications due to its extensive set of characteristics such as toughness, high impact strength, transmittance, lightweight, protection from UV radiations, optical nature, chemical resistance, heat resistance, and good abrasion resistance. The increasing demand for polycarbonate resins for various applications is anticipated to drive the polycarbonate resin market substantially in the South African region during the forecast period.
Report Coverage
The report: “South Africa Polycarbonate Resin Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the South Africa polycarbonate resin Industry.
By Viscosity: High, Medium, and Low
By End-Use Industry: Automotive (Interior Body, and Exterior Body), Building & Construction (Residential, and Non-Residential), Consumer Products (Safety Goggles, Water Bottles, and Others), Electrical & Electronics (Battery Packaging, Sockets, and Others), Medical (Drug Delivery, Surgical Instruments, and Others), Sports, and Others
Key Takeaways
According to OICA, the South Africa motor production was 610,854 in 2018 and increased by 3.5% to reach 631,983 in 2019. Thus, the increasing automation production in the South African region is anticipated to drive the polycarbonate resin market during the forecast period.
The clear transparency and virtually unbreakable properties of a polarized sheet made from polycarbonate resin are fueling a revolution in glasses and sunglasses, which is anticipated to propel the polycarbonate resin market growth during the forecast period.
Many companies are developing bio-based polycarbonate poised to act as a drop-in substitute to synthetic counterparts in several end-use industries. Bio-PC has a similar molecular structure with enhanced durability such as DURABIO™ by Mitsubishi, POLYSORB® Isosorbide by Roquette.
Polycarbonate resins have excellent electrical resistance owing to which it is used in many electrical and electronic devices such as housings, connectors, battery boxes, smartphones, optical media, and more. Due to its excellent electrical resistance, the demand for polycarbonate sheets from the electrical and electronic industry is increasing, which is anticipated to drive the market growth.
Due to the COVID-19 pandemic, South Africa has gone under lockdown, due to which operations of various industries such as building & construction and automotive has been negatively affected, which is hampering the polycarbonate resin market growth in the region.
By Viscosity – Segment Analysis
The low viscosity polycarbonate resin segment held the largest share in the South African polycarbonate resin market in 2019, owing to wide usage of low viscosity polycarbonate resin grades for various applications such as foams, insulation, molding, flotation, industrial coatings, upholstery padding and more. There is an increasing demand for low viscosity polycarbonate resin due to its superior characteristics such as excellent long term UV stability, scratch and mark resistant, non-toxic, easy to mix & process, low penetration, high gloss finish, non-presence of heavy metals and excellent electrical properties. The increasing demand of low viscosity polycarbonate resin due to its excellent characteristics is anticipated to boost the demand for low viscosity polycarbonate resin during the forecast period.
By End-Use Industry – Segment Analysis
The electrical and electronics application held the largest share in the South African polycarbonate resin market in 2019 and is growing at a CAGR of 6.2%, owing to the rising demand for polycarbonate resins from the South African electrical and electronics industry. Polycarbonate resin is an important material in manufacturing optical storages, such as compact discs, Blu-Ray discs, and others. The automotive sector is also growing at a significant CAGR as there is an increasing demand for polycarbonate resin from the automotive industry to manufacture car parts such as the car ceiling, body, doors, windows, bumpers, spoilers, headlamps bezel, light housing, and lenses. Also, automotive manufacturers are shifting towards polycarbonate reins as they turn the vehicle lightweight and transparent, and enhance the vehicle's efficiency by reducing its weight without affecting its durability. Polycarbonate resins also improve aerodynamics while significantly improving a vehicle's mileage and fuel economy. Moreover, the polycarbonate resin enhances comfort, absorbs sound, provides insulation, and resists corrosion, which is anticipated to propel the South African polycarbonate resin market in the automotive sector during the forecast period.
Drivers – South Africa Polycarbonate Resin Market
Increasing Construction and Automation Activities
Polycarbonate resins are a suitable alternative to the conventional glass in various glazing applications such as agricultural houses, industry or public building, facades, car windows, headlights, shelters and skylights due to its extensive properties such as high impact strength, transparency, resistance to UV light, robust, heat resistance and weather ability. According to McGraw-Hill Education Construction in the World Green Building Trends survey, the development of green buildings in South Africa exceeds that of established sustainability building regions such as United States, Europe, Singapore, United Arab Emirates, Australia, and Brazil. The South African green building grew from 16% in 2012 to 52% in 2018. The New Growth Plan framework initiative taken by the South African government for the tenure of 10 years prioritized expansion in construction and the production of technologies for solar, wind, and biofuels, supported by the draft Energy on Integrated Resource Plan. Due to which the construction activity increased in the region. Also, according to Stats Sa, the total motor sale of South Africa in January 2018 was accounted to be 54,620 which increased to 55,156 in January 2019. The increasing construction and automation production activity in South Africa acts as a driver for the polycarbonate resin market during the forecast period.
Extensive properties of Polycarbonate Resin
Polycarbonate resins the most outstanding property is its sturdiness. It is over 200 times stronger than glass and is one of the most durable transparent plastics available. Not only is it strong, but it is also lighter than most other resins and substantially lighter in terms of weight per volume than glass, aluminum, and even steel. These properties enable polycarbonate resin products to be used in places where transparency is necessary and the risk of shattering is not acceptable. Polycarbonate resin also has high thermal stability and fire resistance properties enabling it to be used in environments where other plastics commonly break down structurally, such as in places with wide fluctuations in hot and cold temperatures. Polycarbonate resin has become the favored material for applications where requiring a polished look, such as smartphones, automobile interiors, and electronic goods, which acts as a driver for the polycarbonate resin market in South Africa during the forecast period.
Challenges – South Africa Polycarbonate Resin Market
Health Hazards of Bisphenol - A
Polycarbonate resin is long-lasting, impact-resistant, and clear. This makes it a perfect material for baby bottles, refillable water bottles, sippy cups, and much other food and beverage containers. It is not only used in the production of plastics intended to direct contact with food, but also in inner coatings of cans and jar caps. There is an increasing concern over the health effects of a chemical used in the manufacture of polycarbonate resins Bisphenol-A (BPA). According to the Cancer Association of South Africa (Cansa), BPA is especially dangerous for babies as BPA molecules easily migrate into milk and other fluids in the bottle - especially when it is heated or microwaved. Polycarbonate resin can leach from beverage bottles and coated water pipes that can then be consumed by general population exposing them to breathe in vapors or have direct skin contact of Bisphenol A. There is concern that BPA affects the brain, behavior and prostate gland in fetuses, female and male infertility, skin irritation, precocious puberty, hormone-dependent tumors such as breast and prostate cancer and polycystic ovary syndrome (PCOS) when exposed to levels in consumer products. All these health hazards associated with polycarbonate resin manufacturing chemicals may act as a restrain for the polycarbonate resin market growth.
Covid-19 Impact on The South Africa Polycarbonate Resin Market
The COVID-19 pandemic outbreak has impacted the imports and exports of various commodities globally. Governments of South Africa have imposed export restrictions which is significantly disrupting the supplies. Also, the South African polycarbonate resin manufacturers are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer. In addition, the quality of some raw materials has declined considerably and the shipments' orders are being heavily affected due to the non-availability of vessels and blank sailing, which is heavily affecting the South Africa polycarbonate resin market growth.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the South Africa polycarbonate resin market. In 2019, the market of South Africa polycarbonate resin has been consolidated by the top five players accounting for xx% of the share. Major players in the South Africa polycarbonate resin market are SABIC Innovative Plastics, Bayer Material Science AG, Dynamic Marketing Investment Concepts Pty Ltd, Duroplastic, and Perspex S A.
Report Coverage
The report: “South Africa Polycarbonate Resin Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the South Africa polycarbonate resin Industry.
By Viscosity: High, Medium, and Low
By End-Use Industry: Automotive (Interior Body, and Exterior Body), Building & Construction (Residential, and Non-Residential), Consumer Products (Safety Goggles, Water Bottles, and Others), Electrical & Electronics (Battery Packaging, Sockets, and Others), Medical (Drug Delivery, Surgical Instruments, and Others), Sports, and Others
Key Takeaways
According to OICA, the South Africa motor production was 610,854 in 2018 and increased by 3.5% to reach 631,983 in 2019. Thus, the increasing automation production in the South African region is anticipated to drive the polycarbonate resin market during the forecast period.
The clear transparency and virtually unbreakable properties of a polarized sheet made from polycarbonate resin are fueling a revolution in glasses and sunglasses, which is anticipated to propel the polycarbonate resin market growth during the forecast period.
Many companies are developing bio-based polycarbonate poised to act as a drop-in substitute to synthetic counterparts in several end-use industries. Bio-PC has a similar molecular structure with enhanced durability such as DURABIO™ by Mitsubishi, POLYSORB® Isosorbide by Roquette.
Polycarbonate resins have excellent electrical resistance owing to which it is used in many electrical and electronic devices such as housings, connectors, battery boxes, smartphones, optical media, and more. Due to its excellent electrical resistance, the demand for polycarbonate sheets from the electrical and electronic industry is increasing, which is anticipated to drive the market growth.
Due to the COVID-19 pandemic, South Africa has gone under lockdown, due to which operations of various industries such as building & construction and automotive has been negatively affected, which is hampering the polycarbonate resin market growth in the region.
By Viscosity – Segment Analysis
The low viscosity polycarbonate resin segment held the largest share in the South African polycarbonate resin market in 2019, owing to wide usage of low viscosity polycarbonate resin grades for various applications such as foams, insulation, molding, flotation, industrial coatings, upholstery padding and more. There is an increasing demand for low viscosity polycarbonate resin due to its superior characteristics such as excellent long term UV stability, scratch and mark resistant, non-toxic, easy to mix & process, low penetration, high gloss finish, non-presence of heavy metals and excellent electrical properties. The increasing demand of low viscosity polycarbonate resin due to its excellent characteristics is anticipated to boost the demand for low viscosity polycarbonate resin during the forecast period.
By End-Use Industry – Segment Analysis
The electrical and electronics application held the largest share in the South African polycarbonate resin market in 2019 and is growing at a CAGR of 6.2%, owing to the rising demand for polycarbonate resins from the South African electrical and electronics industry. Polycarbonate resin is an important material in manufacturing optical storages, such as compact discs, Blu-Ray discs, and others. The automotive sector is also growing at a significant CAGR as there is an increasing demand for polycarbonate resin from the automotive industry to manufacture car parts such as the car ceiling, body, doors, windows, bumpers, spoilers, headlamps bezel, light housing, and lenses. Also, automotive manufacturers are shifting towards polycarbonate reins as they turn the vehicle lightweight and transparent, and enhance the vehicle's efficiency by reducing its weight without affecting its durability. Polycarbonate resins also improve aerodynamics while significantly improving a vehicle's mileage and fuel economy. Moreover, the polycarbonate resin enhances comfort, absorbs sound, provides insulation, and resists corrosion, which is anticipated to propel the South African polycarbonate resin market in the automotive sector during the forecast period.
Drivers – South Africa Polycarbonate Resin Market
Increasing Construction and Automation Activities
Polycarbonate resins are a suitable alternative to the conventional glass in various glazing applications such as agricultural houses, industry or public building, facades, car windows, headlights, shelters and skylights due to its extensive properties such as high impact strength, transparency, resistance to UV light, robust, heat resistance and weather ability. According to McGraw-Hill Education Construction in the World Green Building Trends survey, the development of green buildings in South Africa exceeds that of established sustainability building regions such as United States, Europe, Singapore, United Arab Emirates, Australia, and Brazil. The South African green building grew from 16% in 2012 to 52% in 2018. The New Growth Plan framework initiative taken by the South African government for the tenure of 10 years prioritized expansion in construction and the production of technologies for solar, wind, and biofuels, supported by the draft Energy on Integrated Resource Plan. Due to which the construction activity increased in the region. Also, according to Stats Sa, the total motor sale of South Africa in January 2018 was accounted to be 54,620 which increased to 55,156 in January 2019. The increasing construction and automation production activity in South Africa acts as a driver for the polycarbonate resin market during the forecast period.
Extensive properties of Polycarbonate Resin
Polycarbonate resins the most outstanding property is its sturdiness. It is over 200 times stronger than glass and is one of the most durable transparent plastics available. Not only is it strong, but it is also lighter than most other resins and substantially lighter in terms of weight per volume than glass, aluminum, and even steel. These properties enable polycarbonate resin products to be used in places where transparency is necessary and the risk of shattering is not acceptable. Polycarbonate resin also has high thermal stability and fire resistance properties enabling it to be used in environments where other plastics commonly break down structurally, such as in places with wide fluctuations in hot and cold temperatures. Polycarbonate resin has become the favored material for applications where requiring a polished look, such as smartphones, automobile interiors, and electronic goods, which acts as a driver for the polycarbonate resin market in South Africa during the forecast period.
Challenges – South Africa Polycarbonate Resin Market
Health Hazards of Bisphenol - A
Polycarbonate resin is long-lasting, impact-resistant, and clear. This makes it a perfect material for baby bottles, refillable water bottles, sippy cups, and much other food and beverage containers. It is not only used in the production of plastics intended to direct contact with food, but also in inner coatings of cans and jar caps. There is an increasing concern over the health effects of a chemical used in the manufacture of polycarbonate resins Bisphenol-A (BPA). According to the Cancer Association of South Africa (Cansa), BPA is especially dangerous for babies as BPA molecules easily migrate into milk and other fluids in the bottle - especially when it is heated or microwaved. Polycarbonate resin can leach from beverage bottles and coated water pipes that can then be consumed by general population exposing them to breathe in vapors or have direct skin contact of Bisphenol A. There is concern that BPA affects the brain, behavior and prostate gland in fetuses, female and male infertility, skin irritation, precocious puberty, hormone-dependent tumors such as breast and prostate cancer and polycystic ovary syndrome (PCOS) when exposed to levels in consumer products. All these health hazards associated with polycarbonate resin manufacturing chemicals may act as a restrain for the polycarbonate resin market growth.
Covid-19 Impact on The South Africa Polycarbonate Resin Market
The COVID-19 pandemic outbreak has impacted the imports and exports of various commodities globally. Governments of South Africa have imposed export restrictions which is significantly disrupting the supplies. Also, the South African polycarbonate resin manufacturers are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer. In addition, the quality of some raw materials has declined considerably and the shipments' orders are being heavily affected due to the non-availability of vessels and blank sailing, which is heavily affecting the South Africa polycarbonate resin market growth.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the South Africa polycarbonate resin market. In 2019, the market of South Africa polycarbonate resin has been consolidated by the top five players accounting for xx% of the share. Major players in the South Africa polycarbonate resin market are SABIC Innovative Plastics, Bayer Material Science AG, Dynamic Marketing Investment Concepts Pty Ltd, Duroplastic, and Perspex S A.
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