Press release
Plastics Market for Electrical Appliances Trends Analysis by Future Demand, Size Estimation, Industry Share, Competitive Landscape, Key Players and Forecast till 2025
Plastics Market for Electrical Appliances
DowDuPont Inc., BASF SE, Saudi Basic Industries Corporation (SABIC), Arkema SA, Celanese Corporation, and Toray Industries are some of the prominent players operating in the plastics market for electrical appliances.
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Nevertheless, adverse impact of plastics on environment continues to be a bottle neck for players operating in the plastics electrical appliances market. As pert the market analysts of Transparency Market Research (TMR), the companies are heavily investing in research & development activities to maintain balanced product portfolio and leverage new technologies to reduce toxicity of polymers and find biodegradable sources.
Along with this, acquisition and mergers, collaboration and business expansion continue to be prime strategies adopted by the players. For instance, in March 2017, BASF SE expanded its geographical reach by building a new polymer additives plant at Caojing site in Shanghai.
According to TMR, he global plastics market for electrical appliances size was valued at US$ 15.8 Bn. in 2016. It is poised to expand at a CAGR of 8.1% between 2017 and 2025.
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On the basis of region, Asia Pacific was the fastest growing regional and was 2/3rd of the total revenue in 2017. The revenue share of the region was more than 50%. Rapid industrialization, easy availability of cheap workforce and presence of huge player pool are the prime factors benefitting the growth of the plastics electrical appliances market in the region. Among different product type, polypropylene dominates the market share on the back of several favourable properties.
Economic Slow Down in US to Hamper Prospects
The plastics market for electrical appliances is offering lucrative opportunities for the players operating in the market, thanks to the increasing demands from building construction sectors. In addition to this, rise in use of plastics in electronic and automotive industries are some other factors projected to fuel the growth of the global plastics market for electrical appliances in the near future. The automobile players are emphasising to use plastics for manufacturing of vehicles in order to improve its performance in terms of speed and fuel consumptions. This is the reason they are replacing metals with plastics. Thus, offering lucrative avenues for the growth of the plastics market for electrical appliances.
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Despite several opportunities, growth in the plastics electrical appliances market may suffer due to economic slowdown in giant consumer countries. This is expected to broaden the demand and supply gap and thereby creating huge pressure on players to cut down profit margin. Along with this, several adverse impact of plastics on environment is another giant factor impeding the growth of plastics. Several NGO are running awareness camps to abolish use of plastics thus making consumers look other potential sources.
Growing Demands in pipes and fittings Segments to Augment Growth
Nevertheless, high costs of bio friendly substitutes, growing industrialization, surge in construction activities in developing economies are some of the factors expected to boost the growth of the global plastics market for electrical appliances in the near future.
Further, plastics are witnessing substantial demands in the pipes and fittings segments on account of the several favourable properties such as lightweight, long life span, corrosion resistance, and reduced cost structures.
The above information is derived from TMR's report tilted, "Plastics Market for Electrical Appliances (Resin - Polycarbonate (PC), Polypropylene (PP), Acrylonitrile Butadiene Styrene and Styrene-acrylonitrile (ABS & SAN), Low-density Polyethylene (LDPE/LLDPE), Polystyrene (PS), Polyvinyl Chloride (PVC), Polyamide (PA); Appliance - Refrigeration Appliances, Home Laundry Appliances, Dishwashers, Air Treatment Products, Microwaves, Small Cooking Appliances, Vacuum Cleaners, Food Preparation Appliances, Personal Care Appliances, Irons - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
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The plastics market for electrical appliances is segmented as below:
Product
Polycarbonate (PC)
Polypropylene (PP)
Acrylonitrile Butadiene Styrene and Styrene-acrylonitrile (ABS & SAN)
Low-density Polyethylene (LDPE/LLDPE)
Polystyrene (PS)
Polyvinyl Chloride (PVC)
Polyamide (PA)
Others
Electrical Appliances
Refrigeration Appliances (RA)
Home Laundry Appliances (HLA)
Dishwashers (DW)
Air Treatment Products (ATP)
Microwaves (MW)
Small Cooking Appliances (SCA)
Vacuum Cleaners (VC)
Food Preparation Appliances (FPA)
Personal Care Appliances (PCA)
Irons (IR)
Others
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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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