Electronics and Consumer Goods Plastics Market Growth Trajectory, CAGR, Market Share and Revenue Analysis

Report Overview

The global plastics in consumer electronics market place size was valued at USD 5.fifty billion in 2020 and is expected to grow at a chemical compound annual growth charge per unit (CAGR) of 3.8% from 2021 to 2028. Factors, such as increasing need from smartphone & wearable manufacturers and growing need for laptops and tablets, are anticipated to fuel the market growth. Plastics are widely utilized in the manufacturing of consumer electronics including components, such as TV frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances & white goods, and others due to their backdrop, such every bit flexibility, durability, and chemical & rut resistance. Hence plastics , such equally PC, PC/ABS, TPE, and PA, have a high demand from manufacturers of consumer electronics.

To cater to the increasing demand from the smartphone & article of clothing products manufacture, plastics in consumer electronics are beingness utilized for providing higher immovability. The smartphone market offers opportunities for usage of a variety of plastic resins , such equally Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Polymethyl Methacrylate (PMMA), equally these plastics are used for manufacturing housings for electronic devices, mounting frames, brandish frames, and vibration cushions that are lightweight and durable.

The engineering lifespan of consumer electronics is less as mail service the launch of the production, the competitors undergo reverse engineering processes to develop a similar or updated version of the engineering science. Hence, the older versions of products are often discarded by consumers. With the growth of technologically avant-garde equipment, there is no pregnant system to manage the discarded one-time products, which has resulted in the growth of e-waste.

Major players are continuously working on developing bio-degradable polymers owing to the rise environmental concerns. For instance, in November 2020, SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high postal service-consumer recycled materials for application in consumer electronics, such as laptops , copiers, printers, adapters, and chargers, for improving plastic recyclability.

Product Insights

The polycarbonate segment dominated the global market place and accounted for more than 29% of the total acquirement share in 2020. Polycarbonate has the power to undergo huge plastic deformations without breaking or great, which sets information technology apart from other thermoplastics. It is extremely strong and tin hands withstand loftier temperatures. Apart from regular applications, such as lenses, polycarbonates are extensively used in the production of DVDs, Blu-ray discs, television frames, mobile cases, and other enclosures for electronic devices.

Plastics in consumer electronics coatings are used to provide a shine, durable stop having high resistance to UV and chemical exposure. Plastics in consumer electronics coatings are utilized in construction, wood, textile , automotive, and other applications to improve the appearance and durability of a product.

PC/ABS blend is unremarkably used as a flame retardant offering high heat resistance, impact force, flexibility, improved processing, and biocompatibility. These properties make it suitable for producing housing for electronic devices. Amid the global COVID-nineteen pandemic, the need for healthcare devices, such equally oximeters, thermometers , and blood force per unit area monitors, has increased, thereby, driving the demand for PC/ABS globally.

Awarding Insights

The laptop monitor enclosure application segment dominated the market and deemed for more than 22% of the total market share in 2020. Increasing digitalization across every manufacture has propelled the market for reckoner electronics globally, due to the introduction of convenient interfaces and rising demand from the middle-class population. Plastics used for manufacturing laptop monitor enclosures increase the device lifespan due to their high durability.

Clothing electronics including smartwatches , fitness trackers , eyeglasses, and others have gained popularity due to their low weight and piece of cake interface along with rising consumer awareness regarding post-obit a healthy lifestyle. Since plastics are durable, flexible, and resistant to chemicals & high temperatures, they are widely used for manufacturing clothing electronics. In addition, the presence of diverse manufacturers including Apple Inc., SAMSUNG, Sony Corporation, OnePlus, and Xiaomi is expected to propel the demand for plastics for manufacturing mobile components, such as mobile telephone bodies and internal electronics.

Regional Insights

Asia Pacific was the largest regional market in 2020 and accounted for more than 67% of the global revenue share. China led the APAC regional market in 2020, in terms of both volume and revenue. The Asia Pacific dominated the plastics segment in the consumer electronics market driven past the increasing adoption of bio-based polycarbonate past manufacturers of consumer electronics. Haier, Hisense, Huawei, Lenovo Group Ltd., Sharp Corp., Xiaomi, and Guangdong Oppo Mobile Telecommunication Corp., Ltd., are some of the major consumer electronics companies operating in China.

Plastics are non-electric conductive materials used for manufacturing electrical appliances, such as air conditioners and tv frames. PC/ABS alloy is used for manufacturing telephone handsets, keyboards, monitors, and calculator housings; PA is used in food processor bearings and adaptors; and PC in telephones. Rising demand for consumer electronics is expected to propel the regional plastics market over the forecast menses.

Fundamental Companies & Market Share Insights

The marketplace is competitive due to the presence of a few medium and small-calibration regional players. Major players are continuously working on developing bio-degradable polymers attributable to the rising ecology concerns. For instance, in November 2020, SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high mail-consumer recycled materials for application in consumer electronics, such as laptops, copiers, printers, adapters, and chargers, for improving plastic recyclability.

A majority of the global companies are expected to increase their product offerings to Asia Pacific, Central & South America, and the Middle East & Africa owing to high market place growth potential in these regions given the expansion of the consumer electronics industry. Rising population, rapid industrialization & urbanization, improving living standards, and rising disposable income, are factors contributing to the growth of the consumer electronics industry in Asia Pacific, Cardinal & South America, and the Eye East & Africa regions. Some of the prominent players operating in the global plastics in consumer electronics market are:

• Trinseo Southward.A.

• Covestro AG

• Celanese Corp.

• SABIC

• Lotte Chemical Corp.

• LG Chem

• Mitsubishi Chemical Corp.

• SAMSUNG SDI Co., Ltd.

• Koninklijke DSM N.V.

• Qingdao Gon Science & Engineering Co., Ltd.

Plastics in Consumer Electronics Market place Study Scope

Report Aspect	Details
Market size value in 2021	USD 5.93 billion
Revenue forecast in 2028	USD seven.lxx billion
Growth rate	CAGR of 3.viii% from 2021 to 2028
Base twelvemonth for estimation	2020
Historical data	2017 - 2019
Forecast period	2021 - 2028
Quantitative units	Volume in tons, revenue in USD meg/billion, and CAGR from 2021 to 2028
Written report coverage	Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product, awarding, region
Region scope	Northward America; Europe; Asia Pacific; Fundamental & South America; Middle E & Africa
Land scope	U.South.; Canada; Mexico; U.G.; Federal republic of germany; Italy; French republic; China; India; Japan; S Korea; Southeast Asia; Brazil; Saudi Arabia
Key companies profiled	Trinseo S.A.; Covestro AG; Celanese Corp.; SABIC; Lotte Chemical Corp.; LG Chem; Mitsubishi Chemical Corp.; SAMSUNG SDI Co., Ltd.; Koninklijke DSM N.V.; Kuraray Co. Ltd.
Customization scope	Gratuitous study customization (equivalent up to 8 analyst'due south working days) with purchase. Addition or amending to country, regional, and segment scope.
Pricing and purchase options	Avail customized purchase options to meet your verbal inquiry needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and state levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global plastics in consumer electronics market study based on production, application, and region:

• Product Outlook (Book, Tons; Acquirement, USD Meg, 2017 - 2028)

  • Polycarbonate (PC)

  • Liquid Crystal Polymer (LCP)

  • Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Drinking glass Filled Resin

  • Bio-based Polycarbonate

  • Thermoplastic Elastomers (TPE)

  • Polyamide (PA)

• Application Outlook (Volume, Tons; Acquirement, USD One thousand thousand, 2017 - 2028)

  • Television Frames

  • Laptop Monitor Enclosures

  • LCD Panels

  • Portable Hand-held Devices

  • Wearables

  • Mobile Phone Bodies

  • Appliances & White Goods

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • Due north America

    • U.South.

    • Canada

    • Mexico

  • Europe

    • Federal republic of germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • Mainland china

    • India

    • Japan

    • S Korea

    • Southeast Asia

  • Central & Southward America

    • Brazil

  • Eye Due east & Africa

    • Saudi Arabia

Frequently Asked Questions About This Report

b. The global plastics in consumer electronics market place size was estimated at USD five.l billion in 2020 and is expected to reach USD 5.93 billion in 2021.

b. The global plastics in consumer electronics market is expected to grow at a compound annual growth charge per unit of three.eight% from 2021 to 2028 to achieve USD vii.7 billion by 2028.

b. Asia-Pacific dominated the plastics in consumer electronics market with a share of 67% in 2020. This is owing to the fact that about of the globe's consumer electronics product is concentrated in Prc and Japan.

b. Some key players operating in the plastics in consumer electronics marketplace include Trineso SA; Covestro AG; Celanese Corporation; SABIC; Lotte Chemical Corporation; LG Chem; Mitsubishi Chemical Corporation and Koninklijke DSM N.V.

b. central factors that are driving the plastics in consumer electronics market place growth include increasing need from the smartphone & wearable products manufacture and growing demand for laptops and tablets.

Source: https://www.grandviewresearch.com/industry-analysis/plastics-consumer-electronics-market-report

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