Electrical & Electronic Plastics Market Will Generate Record Revenue by 2029

The global electrical & electronic plastics market is anticipated to grow at a considerable CAGR of 8.6% during the forecast period. The growing consumer goods industry is a key factor driving the global electrical & electronic plastic market. According to Invest India, domestic Indian electronic devices market to reach $300 Bn by FY26. As per the data provided by DGCI&S, the export of electronic goods has increased from $11 billion in year 2020-21 to $14.6 billion in year 2021-22, exhibiting a Y-O-Y growth of 34.0% over last year. Government has taken several measures for the growth of the exports of electronics hardware sector. Special Economic Zones (SEZs) are set up to enable hassle-free manufacturing and trading for export purposes and EHTP units are the major contributors to exports.

Production of mobile phones has gone up from 6 crore units in 2014-15 to 29 crore units in 2020-21 thus making the domestic manufacturing of cellular mobile handsets and its sub-assemblies/ parts and components as one of the flagship sectors under the "Make in India" initiative of the Government. With per capita disposable income and private consumption having doubled between FY12 and FY21, India has emerged as one of the largest markets for electronic products in the world. Plastics do not conduct electricity and are therefore used in a variety of applications where their insulating properties are needed. PVC is widely used to insulate electric wiring, while thermosets (which can withstand high temperatures) are used for switches, light fittings and handles. Therefore, growing consumer electronics industry is anticipated to drive demand for electrical & electronic plastics market.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

• By Material Type

• By Application

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

• Competitive Landscape- including Koninklijke DSM N.V., LG Chem Ltd., SABIC, Solvay SA, and Covestro AG among others

Electrical & Electronic Plastics Market Report Segment

By Material Type

• PA 6

• PA66 FR

• Polybutylene terephthalate (PBT)

• Polyethylene terephthalate (PET)

By Application

• Automotive

• Consumer Goods

• Industrial

• Medical

• Other

A full Report of Electrical & Electronic Plastics Market is Available @ https://www.omrglobal.com/industry-reports/electrical-and-electronic-plastics-market

Electrical & Electronic Plastics Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• BASF SE

• Celanese Corp.

• DuPont

• Ensinger Group

• Lotte Chemical Corp.

• Mitsubishi Chemical Corp.

• Qingdao Gon Science & Technology Co., Ltd. ?

• Radici Group

• RTP Company, Inc.

• SAMSUNG SDI Co., Ltd.

• Techno Plast Products

• TORAY Industries, Inc.

• Trinseo S.A.

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