The global PC-resins in lighting market is expected to grow at a highest growth rate in the forecast period. The global consumer demand is growing with 5.29% over the forecast period. General lighting industry is the most significant end-use industry in the global PC-resins in lighting market.
What is PC-Resins in Lighting?
Polycarbonate resins in lighting is widely used in various applications because of its distinct properties such as inherent fire resistance, UV resistance, excellent resistance to aqueous solutions. Moreover, is highly recyclable which an addition to rest of its properties is. The polycarbonate resins in lighting market is emerging and has been amongst the key supplier industries for general lighting and automotive lighting applications. The various end-users of polycarbonate resins in lighting included in the report comprise of general lighting (residential, office, restaurants and shops, architectural, signals and signage, hospitality, industrial, and others) and automotive lighting (exterior lighting, interior lighting).
This report incorporates an in-depth assessment of PC-Resins in lighting market by type, grade, application, end-use, and geography. The major types of PC-Resins in lighting encompassed in the scope includes high bright LED’s, organic LED’s, and others.
What are the Major End-User for PC-Resins in Lighting?
In the buildings maintenance costs lighting are one of the major expense of the organizations as it often represents a large proportion of organizational energy use. According to figures provided by the Chartered Institution of Building Services Engineers (CIBSE), lighting accounts for 63% of total energy expenditure in the health sector, while for education the figure is 51%. In today's green, energy and cost conscious society, LED lighting is becoming the technology of choice in buildings, from homes and businesses to major municipal and industrial structures. For indoor lighting applications, the advantages of LED technology have now begun to outweigh the fact that the installation costs of traditional incandescent or fluorescent devices remains lower. According to American institute of Architects demand for office spaces in U.S is likely surge during 2018 to 2019 witnessing a rate of growth at 3% and in 2019 this is expected to climb 4.6%.
Market Research and Market Trends of PC-Resins in Lighting
- Polycarbonate resins in lighting value was $181.90 million in 2017 and is anticipated to see an upsurge during the forecast period. General lighting has accounted to be the largest market with 79% share in 2017 and will grow with CAGR of 4.84% during the forecast period.
- Residential is yet another major market pertaining to polycarbonate resins in lighting. The market is anticipated to reach $28.88 million by 2025 growing at a CAGR of 4.46% from 2018 to 2025.
- The total global capacity for polycarbonate stood at 3.355-mtpa in 2005, which increased to 4.335-mtpa in 2010 and this reached to 5.135-mtpa in 2016. China constituted 32% of the global capacity in 2005, which declined to 30% in the year 2010 and has further dropped to 25% in 2016. On the other hand the capacity in the Asia/Pacific region rose from 41% in 2005 to 49% in 2010 and has been constitute 57% of the global capacity in the year 2016.
Who are the Major Players in PC-Resins in lighting market?
The companies referred to in the market research report include Asahi Kasei Chemical Corporation (Japan), Bayer Materialscience Ag (Germany), Chi Mei Corporation (Taiwan), Formosa Chemicals & Fiber Corporation (Taiwan), Idemitsu Kosan Ltd. (Japan), LG Chem Ltd. (South Korea), Mitsubishi Engineering-Plastics Corporation (Japan), Mitsubishi Gas Chemical Co. (Japan), SABIC Innovative Plastics (Saudi Arabia), and Samsung Sdi Co., Ltd. (South Korea)
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