Conductive Plastic Compounds Market: Key Highlights
- The global conductive plastic compounds marketwas valued at ~US$ 8.5 Bn in 2018, and is anticipated to expand at a CAGR of ~11% during the forecast period.
- Conductive plastic compound manufacturers and plastic converters are focusing on developing products through stable, resource-saving, and energy-efficient processes. Increase in product development programs among compound manufacturers and rise in research & patent activities regarding filler materials among institutes and universities are estimated to propel the demand for conductive plastic compounds in the near future.
Key Drivers of Conductive Plastic Compounds Market
- Conductive plastic compounds play a vital role in the manufacture and assembly of electrical and electronic devices. They offer reliability to applications that require protection from electrostatic discharge, dissipation of static charges, and effective thermal management. Products manufactured from conductive plastic compounds are lightweight, recyclable, and protect against damage to dissipation of static charge in electronic applications. Injection molded and extruded conductive plastic compounds possess exceptional electrical properties that span the surface resistivity spectrum from 100 ohm/sq to 1012 ohm/sq. High usage of conductive plastic compounds in the electrical & electronics industry is expected to boost the demand for conductive plastic compounds in the near future.
- Conductive plastic compounds are also employed in electronics processing and packaging, industrial safety, automotive, and aerospace industries. Rise in the usage of conductive plastic compounds in several end-use industries due to their exceptional attributes is estimated to drive the global conductive plastic compounds market during the forecast period.
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Carbon Nanotubes to Offer Lucrative Opportunities
- In terms of filler, carbon nanotubes was a highly attractive segment of the global conductive plastic compounds market in The segment is projected to maintain its attractiveness during the forecast period, led by the rise in the demand for carbon nanotubes in the automotive and aerospace sectors, owing to their exceptional thermal and electrical properties.
Risks Associated with Plastic Waste Management Likely to Hamper Market
- Polymer-based conductive plastics account for a large share of the total conductive plastics produced and sold around the world. These are not readily bio-degradable. Thus, these plastics are hazardous to the environment.
Rise in plastic waste around the world is likely to be a significant factor restraining the global conductive plastic compounds market during the forecast period.
- The European Union has banned plastic landfills in Switzerland, Austria, the Netherlands, Germany, and Sweden. This is anticipated to hamper the plastic industry in these countries.
Asia Pacific Prominent Conductive Plastic Compounds Market
- Based on region, the global conductive plastic compounds market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- In terms of revenue, Asia Pacific led the global conductive plastic compounds market in 2018. China is a major manufacturing hub of the electronics industry. The country constituted a prominent share of the market in the region in2018, owing to the high rate of adoption of conductive plastic compounds in electrical & electronic applications. Prominent players are focusing on expanding their production facilities in Asia Pacific to cater to the rising demand for conductive plastic compounds in several end-use industries in the region.
- The conductive plastic compounds markets in North America and Europe are projected to expand at a moderate pace during the forecast period. Advancements in research & development activities among universities and compound manufacturers in North America and Europe are likely to drive the conductive plastic compounds market in these regions.
Top Five Players Account for Key Share of Market
- Prominent players operating in the global conductive plastic compounds market are BASF SE, RTP Company, LyondellBasell Industries Holdings B.V., Mexichem Specialty Compounds Inc., SABIC, DowDuPont Inc., Coperion K Tron, Adell Plastics, Inc, Sojitz Corporation, Ravago, Polyvisions Inc, and A.Schulman.
- The global conductive plastic compounds market is moderately fragmented and highly competitive. Major companies focus on research & development activities pertaining to electrically- and thermally-conductive plastic compounds. Ongoing research & development activities in conductive plastic compounds are expected to drive the market in the near future.