April Polycarbonate (PC) Market Highlights: Prices Rise, Supply Tightens, Industry Structure Adjusts, and Technological Innovation Accelerates

Recently, the polycarbonate (PC) market has exhibited a simultaneous trend of rising prices, tightening supply, industry restructuring, and accelerated technological innovation.

1. Spot prices continue to rise, and market conditions remain strong.

According to the data from iFind by Tonghuashun, as of April 6, 2026, the spot price of polycarbonate (PC) in China was 16,583.33 yuan/ton, unchanged from the previous trading day.

Recently, PC prices have shown a steady upward trend.

The past week: price increased by 266.66 yuan/ton, an increase of 1.63%

Over the past month: The price has cumulatively increased by 1666.66 yuan/ton, with an increase of 11.17%

Market analysis indicates that this round of price increases is mainly due to the dual effects of higher upstream raw material costs and a tightening supply.

Geopolitical risks in the Middle East have driven up crude oil and petrochemical feedstock prices, while planned shutdowns for maintenance at some facilities have further intensified supply tightness expectations.

A recent research report from Huatai Securities also notes that the supply-demand inflection point for polycarbonate (PC) in China has become increasingly clear. On the demand side, downstream sectors such as new energy vehicles are directly driving demand; on the supply side, industry capacity additions are expected to be relatively limited between 2025 and 2027, with operating rates already recovering to high levels (projected at 87%, 94%, and 95% for 2025, 2026, and 2027, respectively). With continued supply-demand improvement, the PC industry is poised to gradually enter an upcycle.

II. Supply-side Contraction: Enterprise Production Halts and Raw Material Supply Tightness

Mitsubishi Gas Chemical announced the shutdown of its polycarbonate (PC) production facility.

On March 31, 2026, Mitsubishi Gas Chemical Company, Inc. (MGC) announced its decision to discontinue the production operations of its polycarbonate (PC) plant with an annual capacity of 120,000 tons at its Kashima site in Japan, with the formal shutdown scheduled for March 2028.

MGC stated that the reason for the shutdown is mainly due to the PC business facing a market oversupply, resulting in low prices, and continuous challenges in terms of profitability and capital efficiency. This business has been designated as a key area for rectification in the current mid-term business plan. In the future, domestic Japanese operations will be supported by products supplied from the group's overseas production bases.

2. Supply constraints at the raw material end are transmitted downstream.

The supply uncertainty of the upstream raw material Bisphenol A (BPA) has increased, and the PC material market has noticeably tightened, with both prices and lead times rising.

In addition, Lotte Chemical's Yeosu plant and Covestro's Caojing plant will gradually enter planned maintenance starting in April, and supply is expected to further tighten in the second quarter.

III. Downstream Transmission: Optical Disc Prices Follow the Increase

The rise in PC material prices has been passed on to downstream application sectors. Ritek Corporation stated that, driven by increasing raw material costs and recovering market demand, the prices of recordable optical discs will rise by nearly 20% in Q2 2026, with a further increase possible in Q3.

Lexar explained that this round of pressure mainly stems from the upstream raw material segment. In addition to price increases, the lead time for PC material has also extended to approximately one month across the board. With raw material prices remaining high and supply further tightening, market quotations for the second quarter still have room for further upward adjustment.

Industry Trends: Biobased PC Industrialization Accelerates

Under the guidance of the "dual carbon" goals, the industrialization of bio-based polycarbonate (PC) is accelerating, becoming a key direction for industry transformation and upgrading.

Domestic substitution achieves breakthroughs

Puyang Shengtong Juyuan New Materials Co., Ltd., in collaboration with China Kunlun Engineering Co., Ltd., conducted key technological breakthroughs based on its independently developed “Integrated Technology for Bio-based (Isosorbide) Polycarbonate.” In January 2026, this technology passed the national scientific and technological achievement appraisal organized by the China Petroleum and Chemical Industry Federation and was recognized as internationally advanced.

Shengtong Juyuan has built China’s first industrial-scale bio-based polycarbonate (PC) plant with an annual capacity of 5,000 tons, which has achieved continuous and stable operation. Compared with conventional petroleum-based PC, each ton of bio-based PC reduces carbon emissions by 21.4%, i.e., 1.07 tons of carbon dioxide.

2. Broad market prospects

According to the latest report from Markets and Markets, the bio-based polycarbonate (PC) market is expected to grow at a compound annual growth rate (CAGR) exceeding 15%. In terms of downstream application segments, the automotive industry accounts for the largest share at 80%, followed by the electronics and electrical sector at 15%, and the medical sector at 5%.

Currently, China remains heavily reliant on imports for high-end optical-grade and medical-grade bio-based PC materials, with domestic annual potential demand expected to exceed 50,000 metric tons, presenting significant room for domestic substitution.

Overall, in the short term, the PC market is expected to maintain a relatively strong price trend due to cost support and supply contraction. Institutions generally expect that, with the continuous improvement of the supply and demand situation, the PC industry is likely to gradually enter a period of prosperity. At the same time, the industrial breakthrough of green materials such as bio-based PC also opens up new growth space for the long-term development of the industry.