The thermally conductive plastics market is expected to witness robust growth during 2018-2025 as demand for electronic gadgets continues to rise in various sectors. The market was evaluated at $838.8 mn in 2016 and will likely reach US$ 2634.3 mn by 2025. The rising demand for electronics in pharmaceutical, consumer electronics, and manufacturing is expected to create several new opportunities for players in the thermally conductive plastics market. Some key players in the market are Celanese Corporation, Poly One Corporation, Exxon Mobil Corporation, Sabic Group, and Arkema Group.
Polyamide to Remain the Largest Opportunity for Growth
The thermally conductive plastics market is segmented into polyamide, Polybutylene terephthalate (PBT), Polyetherimide, Polyphenylene sulfide, Polycarbonate, and others. Among these, the polyamide is expected to witness the largest growth based on its continuous popularity in demand. The material is also expected to replace various metals in end-use industries in the near future as its high temperature resistance, high impact resistance, and abrasion resistance, excellent balance of strength offer much valued key features for industries. Additionally, the cost-effective and widely available producing mechanisms is also expected to make it the preferred choice for end-use industries. The material is rising in demand in several important applications including consumer appliances, hood components, medical devices, and LED luminaries, among others. Thanks to its newfound applications, and strong conventional demand, polyamide is expected to drive growth of the thermally conductive plastics market in the near future.
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Electronics to Drive Major Opportunities for Players
The thermally conductive plastics market report is divided on the basis of end-use industries. Among these, the conductive plastics or TCPs are expected to witness rising application in cooling parts, sinks, and enclosures, interface materials, mounting device, chipsets and connectors, cooling systems. Automation in various appliances is expected to further use of TSPs as increased performance, weight of appliances, and overall costs are expected to drive more opportunities for thermally conductive plastics market. Moreover, the rising demand for automated vehicles is also expected to present major opportunity in the near future.
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North America is Expected to Drive Growth in the Global Market
The thermally conductive plastics market report offers insight on North America, Asia Pacific, Europe, and Middle East & Africa. The high disposable income and rising opportunities due to automation are expected to drive considerable growth in North America region. Additionally, growing demand from manufacturing for various plastics to replace metals is also a key opportunity in the region. This is expected to drive significant demand in construction sector. The thermally conductive plastics market is also expected to witness robust growth in Asia Pacific. The growing demand for consumer electronics, rising investment in automation in China, and growth of the manufacturing industry in the region are key opportunities for players in the region. Moreover, the market is also expected to witness robust growth in Europe wherein the auto industry is facing major challenges to adopting to newly accepted emission goals. The EU has set stringent goals to cut-down emissions. However, recent fiasco in the automotive sector with various automakers using pretensions ways to meet targets highlight a need for more lightweight and robust materials to reduce emissions. This is a key opportunity for players in the thermally conductive plastics market.
This analysis of the global thermally conductive plastics market is based on a recent market research report by Transparency Market Research, titled “Thermally Conductive Plastics Market (Type – Polyamide (PA), Polybutylene terephthalate (PBT), Polycarbonate (PC), Polyetherimide (PEI), Polyphenylene sulfide (PPS), PEEK, and PEKK; Application – Electrical & electronics, Automotive, Industrial, Healthcare, and Aerospace) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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Key Takeaways:
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