Global Plastics Market for Electrical Appliances Assessment and Key Insights Analyzed till 2025

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Plastics Market for Electrical Appliances - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Plastics Market for Electrical Appliances market have been elaborated upon in the research report.

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Plastic is one of the highly functional, esthetic, and sustainable materials. It has replaced materials such as metal, concrete, and wood, as it is light in weight, corrosion proof, economical, and esthetically appealing. Manufacture of plastic also entails less energy. Global production of plastic stood at 322 million tons in 2015 and is estimated to increase at a CAGR of 6% to 7% by 2020. Plastics are bad conductors of electricity. Therefore, they are used in applications that require insulating properties. For instance, PVC is commonly used in wires and cables, while thermosets such as PU and PE are used in handles, switches, etc. Plastics is employed in outer body packaging of household appliances (toaster, blender, mixer, etc.) and personal care appliances (hair dryers, electrical razors, etc.).

Plastic is one of the key materials used in the manufacture of electrical appliances. Several resins such as ABS, SAN, PP, and PS are widely used in the manufacture of different appliances. In terms of revenue, the global plastics market for electrical appliances was valued at US$ 15.8 Bn. The market is anticipated to expand at a CAGR of 7.5% between 2017 and 2025. Growth in the market is largely driven by the rise in demand for electrical appliances across the globe. Demand for electrical appliances across the world is anticipated to increase at 6.6% per annum during the forecast period, thus offering substantial demand for plastics. In terms of type of resin, the PP segment accounted for substantial market share in 2016 as it is highly moldable and relatively inexpensive. The PP segment is anticipated to expand significantly during the forecast period. ABS & SAN and PS are also widely employed in electrical appliances. Other types of resins such as PC, PA, and LDPE have demand in niche applications. PC and PA demonstrate superior properties; however, their price is high. Thus, their usage in electrical appliances is limited.

Air treatment products is one of the fast growing appliance segments of the market. Rise in demand for air treatment products such as air conditioners, especially split air conditioners, air purifiers, and fans is the key factor driving the segment. However, in terms of consumption, refrigeration appliances was the dominant segment of the market in 2016. The segment consumed substantial quanta of total plastic in 2016 and is anticipated to expand nearly twice by 2025. A typical refrigerator consists of several plastic components such as liners, trays, handles, holders, and stands. Thus, demand for plastic is high in the segment.

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Demand for electrical appliances has been rising since the last two years. It is impacted by several factors such as availability of products, trends in an individual appliance segment, product development, per capita expenditure, disposable income, and economic factors. Increase in production of electrical appliances is expected to further boost the demand for plastics in the near future. Mass production of electrical appliances with plastic components also provides economic advantages while maintaining optimum functionality. Styrenic polymers, in particular, exhibit a wide range of properties through different products such as polystyrene, ABS, SAN, and block copolymers. The shift in usage from traditional materials to plastics has also propelled the plastics market. Unlike metals or organic materials, plastics are corrosion resistant. With the help of additives, they can also be made chemical- and acid-resistant. Furthermore, the need to produce lightweight appliances, while maintaining high performance, reliability, durability, and dimensional stability is met with the help of plastics. Different colors, textures, and properties such as transparency and opacity can be achieved with the use of colored additives or by blending two or more polymers. These factors work in tandem and propel the demand for plastics for electrical appliances.

Key Takeaways

The report provides extensive analysis of market trends and shares from 2016 to 2025 at the global as well as regional level in terms of resin and appliance segments
It also provides detailed country analysis and forecast for key countries and sub-regions with respect to different segments
It also provides detailed Porter’s Five Forces Analysis and value chain analysis, which includes integration between market players along with identification of potential key customers for the plastics market
The report further analyzes various indicators, market drivers, inhibitors, current & future market trends, and emerging applications
It also comprises detailed pricing analysis with respect to products, end-user industries, and regions
It includes regional and county level production output, coupled with an understanding of the demand-supply scenario
Competition landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

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This release was published on openPR.