South America Polycarbonate (PC) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

The South America Polycarbonate Market size is estimated at USD 585.31 million in 2024, and is expected to reach USD 852.29 million by 2029, growing at a CAGR of 7.81% during the forecast period (2024-2029).

Fast-paced technological advancements to augment the demand for polycarbonates

• Polycarbonates are a class of thermoplastic polymers that are strong, tough, and, in some grades, optically transparent. They are easy to shape, mold, and thermoform. The demand for polycarbonates in the region increased by 7.7% in terms of volume in 2022 compared to 2021, majorly due to increased production output and manufacturing activities.
• The electrical and electronics industry is the largest consumer, accounting for approximately 17.38% of the overall consumption in 2022. Polycarbonates are widely used in electronic appliances such as refrigerators, air conditioners, coffee machines, food mixers, washing machines, hair dryers, steam iron, and water tanks, owing to their electrical resistance and lightweight properties. Polycarbonates are also used as a composite to enhance their properties. The industry is also the fastest growing in the region due to the rapid increase in the demand for electrical and electronic devices and technological advancements. The demand for PC from the industry is projected to register a CAGR of 8.41%, by value, during the forecast period.
• The building and construction industry is the second-largest consumer of polycarbonate, accounting for approximately 13.33% of the total consumption in 2022. Polycarbonate is useful in various applications due to its high impact and heat resistance, lightweight property, durability, high optical clarity, and excellent flammability resistance. It is widely used in building and construction products, ranging from windows and skylights to wall panels and roof domes and exterior LED lighting elements. During the forecast period, the demand for PC from the industry is expected to register a CAGR of 5.38% in volume terms.

Brazil to dominate the South American polycarbonate market over the forecast period

• South America accounted for 3.03% of the global consumption of polycarbonate (PC) resins in 2022. PC is an important polymer in South America for various industries, including automotive, aerospace, and electrical and electronics.
• Brazil is the largest country in terms of market consumption, with a share of around 40% in 2022, a rise from the 7.33% share registered in 2021 owing to its growth in its aerospace, automotive, and electrical and electronics industries. The country's production of aircraft components and vehicles accounted for market shares of around 96.2% and 67.9%, respectively, in 2021. Such production growth in the automotive and electrical and electronics industries is expected to drive the demand for polycarbonate resins.
• Argentina's demand for PC resins is increasing significantly in line with growing production in the automobile and electrical and electronics industries, among others. The country is the second-largest vehicle producer in South America, having produced 803,377 units in 2022, a 9.01% rise over 2021. The country is expected to be the fastest-growing consumer of PC resins in South America, with a CAGR of 8.19% by revenue during the forecast period (2023-2029). Vehicle production is expected to account for a 5.12% share of the regional market by volume by 2029, which is, in turn, expected to drive the demand for this resin in the country during the forecast period.
• The Rest of South America's regional segment is one of the largest consumers of PC resin and consists of countries such as Chile, Peru, Colombia, and Bolivia. The regional segment accounts for a considerable share of construction activity in South America, amounting to 15.29% by volume in 2022, which is expected to foster demand for PC over the coming years.

South America Polycarbonate (PC) Market Trends

Rapid pace of technological innovations to boost the industry growth

• In South America, Brazil held the major share of nearly 40% of the region's electrical and electronics production revenue in 2017. In 2017, Brazilian electronics products had a penetration of nearly 20% in the e-commerce sector. The advancement of technology in the region increased the demand for consumer electronics products, such as smart TVs, smart refrigerators, smart air conditioners, and other electrical and electronic products. South American electrical and electronics production revenue witnessed a CAGR of over 6.16% between 2017 and 2019.
• In 2020, with the rise in demand for consumer electronics for remote working and home entertainment due to the pandemic, the production of electrical and electronic products in the region increased at a growth rate of 1.1% by revenue compared to the previous year. Rising disposable income, increased demand for luxury products, technological advancements, and improvement in living standards are some of the major factors driving the electrical and electronics market's growth. As a result, in the region, electrical and electronics production also increased at a rate of 14.9% by revenue in 2021.​
• The rapid pace of electronic technological innovation is driving consistent demand for newer and faster electrical and electronic products. As a result, it has also increased the demand for the production of electrical and electronics in the region. The penetration of multinational companies, like LG, Samsung, Microsoft, Panasonic, Dell, Intel, Toshiba, Sony, Philips, Sharp, Apple, and Lenovo, also positively affects the electrical and electronics market. All such factors are expected to fuel the production revenue of electrical and electronics in the region during the forecast period at a rate of around 7%.

South America Polycarbonate (PC) Industry Overview

The South America Polycarbonate (PC) Market is fairly consolidated, with the top five companies occupying 78.53%. The major players in this market are Covestro AG, LG Chem, Mitsubishi Chemical Corporation, SABIC and Teijin Limited (sorted alphabetically).

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