PCTG Market Size, Share, Growth, and Industry Analysis, By Type (Injection Molding Grade, Extrusion Grade, Blow Molding Grade), By Application (Household Items, Cosmetics, Small Home Appliance, Medical), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

PCTG Market Report Overview

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global PCTG market size was USD 193.79 million in 2022 and market is projected to touch USD 242.03 million by 2028 at CAGR 3.77% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with PCTG market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

PCTG is a process that allows for the precise control of a task group to optimize performance and minimize wasted time and resources. The growing demand for plastic household goods is anticipated to be a key reason driving growth over the forecast period. Rising demand for haircare products, skincare products along with cosmetic surgery tools such as applicators & sponges that are made using polycarbonate thermoset glass transition (PCTG) materials due to their superior properties including transparency, strength & flexibility along with low weight compared other plastics used till date in these applications. Injection molding (IM) is a process of manufacturing plastic parts by injecting molten plastic material into a metal mold under high pressure.

The molten plastic is then allowed to cool and solidify creating the final product. Extrusion grade is a precise type of polyethylene terephthalate (PET) resin that has been processed to optimize its properties for use in beverage bottles and containers. Blow molding grade is the most common type of PCTG in the global market. It is used to produce household items, cosmetics, small home appliances, and medical products. PCTG material having high transparency, heat resistance, and easy mold release at the same time. Participating are fixing their efforts on encouraging R&D. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

PCTG Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Injection molding grade, extrusion grade, blow molding grade.

Injection molding grade will capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into household items, cosmetics, small home appliance, medical.

PCTG market players cover segment as household items will dominate the market share during forecast period.

Driving Factors

"Increase in demand in various applications to boost the market growth"

Increasing demand for PCTG in numerous applications such as household items, cosmetics, small home appliances, and medical devices. Additionally, the rising awareness about the aids of using PCTG over other materials is also driving the growth of this market. PCTG play a vital role in attaining these goals that enhance the performance, sturdiness, and functionality. The demand motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological advancement and development to upsurge the market."

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the PCTG market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.

Restraining Factors

"High cost of raw materials to hamper the market growth"

High cost is hampering development of vacuum coater market. High cost of raw materials and the process of manufacturing is depleting the market. Furthermore, the severe environmental regulations regarding plastics and their discarding could possibly impact the market adversely. Sudden price increase or supply disruptions can affect the profitability of market players. Technical difficulties will reduce the industry revenue.

PCTG Market Regional Insights

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"Asia Pacific to dominate the region due to increasing product demand"

Asia Pacific is further expected to witness growth in the PCTG market share. The region is dominating the market due to increasing product demand from various end-use industries such as automotive, construction, consumer goods, and medical devices among others. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• SK Chemical (South Korea)
• Eastman (U.S.)
• Macroocean (Germany)
• Evonik (Germany)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.