North America Polycarbonate For Electrical And Electronics Market Size, Share & Trends Analysis Report By End Use (IT Electronics, Electrical Enclosures), By Country (Canada, U. S. ), And Segment Forecasts, 2021 - 2028.
New York, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Polycarbonate For Electrical And Electronics Market Size, Share & Trends Analysis Report By End Use, By Country And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06184555/?utm_source=GNW
North America Polycarbonate For Electrical And Electronics Market Growth & Trends
The North America polycarbonate for electrical and electronics market size is anticipated to reach USD 1.06 billion by 2028., growing at a CAGR of 3.7% over the forecast period. The product usage in the electrical and electronics market is anticipated to grow due to a rise in the automotive and construction industries in North American countries. This is due to the fact that PC is widely being developed as a material for solar roofs for future mobility applications in Electric Vehicles (EVs) as well as housings for lights and other electrical components, such as switches, sockets, and switchboards, used in residential and commercial structures.
Rising e-commerce and logistics operations are expected to drive the demand for commercial vehicles, thus propelling the demand for PC in lamps enclosures of vehicles.Moreover, the concept of automated warehouses has driven the demand for autonomous robots.
Many Original Equipment Manufacturers (OEMs) of autonomous robots use PC as a material for their enclosures.
The U.S. entertainment industry is the largest in the world and includes streaming content, motion pictures, video games, television programs, and commercials. Polycarbonate offers similar properties to that of metal alloys in terms of impact resistance, heat and chemical resistance, and durability to be used in enclosures of consumer electronic devices. With the shift toward digital production and distribution the demand for electronic devices is expected to grow considerably, thereby driving the product demand.
Polycarbonate offers a higher impact-resisting capacity & thermal stability than glass and is lightweight.This makes it an alternative material to glass in lighting applications for residential, commercial, and industrial structures.
Moreover, it offers ease in processability option in the housing of LED source as it can be formed into countless shapes and sizes by shaping resins through sheet extrusion and injection molding processes.
North America Polycarbonate For Electrical And Electronics Market Report Highlights
• The market was valued at USD 660.09 million in 2020 and is estimated to grow at a CAGR of 3.7% from 2021 to 2028
• The IT electronics end-use segment is expected to witness the highest CAGR over the forecast period owing to the rising demand for 5G applications, audio, video equipment, and IT servers as a result of the growing IT sector
• Electrical enclosures accounted for the maximum revenue share of the overall market in 2020. The reduction in the cost of end products offered by PC along with its lightweight characteristics, and some similar properties to metal alloys have propelled its demand in electrical enclosures applications
• U.S. accounted for the largest revenue share of the overall market in 2020 and is expected to witness steady growth from 2021 to 2028
• In July 2021, Samsung SDI Co., Ltd. announced its plan to set up a battery cell plant in the U.S. to support the auto industry’s shift to electrification and is in talks with major automakers including Ford Motors Company and Stellantis N.V. to establish a joint venture for EV manufacturing
• The rising investments in EVs are expected to result in driving the product demand in vehicle headlamps applications
Read the full report: https://www.reportlinker.com/p06184555/?utm_source=GNW
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