Press release
Global Plastics In Electronics Market Expected to Achieve 10.5% CAGR by 2029: Growth Forecast Insights
Plastics In Electronics
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How Large Will the Plastics In Electronics Market Size By 2025?_x000D_
In recent times, the electronics plastics market has witnessed a substantial increase in its size. The expected growth is from $53.92 billion in 2024 to $59.75 billion in 2025 with a compound annual growth rate (CAGR) of 10.8%. This recognizable escalation in the historic phase is primarily due to the increased use of nano-engineered polymer composites for better electrical productivity, the growing embrace of eco-friendly plastics in electronic goods to minimize carbon emissions, the increased inclusion of shape-memory polymers in adaptable electronic components, the rising demand for antistatic and electromagnetic interference shielding plastics, and the expanding application of transparent conductive polymers in touch and display technologies._x000D_
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How Big Is the Plastics In Electronics Market Size Expected to Grow by 2029?_x000D_
The market size for plastics in the electronics sector is poised for significant escalation in the coming years. Forecasts predict a leap to $88.97 billion in 2029, with a compound annual growth rate (CAGR) of 10.5%. This predicted upsurge in the forecast period is primarily owed to the furthered demand for lightweight, miniaturize electronic components, a surge in the use of advanced polymers known for thermal management in electronic apparatuses, a growing preference among consumers for durable, high-performance gadgets, increased use of recyclable, environmentally friendly plastics in electronics fabrication, and an upward trend in the integration of plastics in pioneering wearable and flexible electronics. In the forecast period, key trends will revolve around the progression in high-thermal-conductivity polymers intended for heat management, the advanced creation of sustainable, biodegradable plastics for electronics, creative evolution in flexible and stretchable polymer materials suitable for wearable contrivances, the integration of nanocomposites with the aim of enhancing electrical and mechanical characteristics, and the widespread adoption of flame-retardant and self-healing plastics in the manufacture of electronic components._x000D_
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Which Key Market Drivers Powering Plastics In Electronics Market Expansion and Growth?_x000D_
The growth of the plastics in electronics market is predicted to be driven by the escalating demand for electric vehicles (EVs). Electric vehicles (EVs) are characterized as transport powered entirely or partially by electric motors, utilizing energy stored in batteries, as opposed to traditional vehicles reliant purely on internal combustion engines. Mainly due to heightened environmental consciousness and governmental initiatives encouraging low-emission transit, the uptake of electric vehicles (EVs) is on the rise. Plastics are utilized in electric vehicles (EVs) for constructing lightweight elements, battery casings, insulation, connectors, and internal components, boosting efficiency, safety, and the vehicle's overall performance. For instance, the International Energy Agency (IEA), a France-based international body, indicated that in 2023, about 14 million new electric vehicles (EVs) were globally registered, increasing the total EV count on roads to 40 million units. This signifies a year-over-year increment of 3.5 million vehicles, or 35% growth, with electric cars accounting for approximately 18% of total global car sales, a rise from 14% in 2022. Hence, the growing adoption of electric vehicles (EVs) is fuelling the expansion of the plastics in electronics market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Plastics In Electronics Market?_x000D_
Leading organizations in the plastics in electronics industry are putting an emphasis on progress in polymer technology. This includes the creation of bio-based and high-performance plastics to increase sustainability and lessen dependence on fossil fuels. Bio-based plastics, whether fully or partially derived from renewable resources such as vegetation or cellulose, are an eco-friendly substitute that do not sacrifice structural strength, heat stability, or electrical insulation. For example, Skullcandy Inc., a lifestyle audio brand from the US, launched its EcoBuds True Wireless Earbuds in March 2024, incorporating 65% certified recycled plastics and reducing their carbon footprint by 50% compared to traditional models. This demonstrates how electronics producers are utilizing sophisticated polymers to achieve a balance between performance, durability, and sustainability. Such advancements in polymer science are likely to encourage more widespread use of plastics in electronics, especially in consumer devices, car electronics, and other high-performance uses._x000D_
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What Are the Emerging Segments in the Plastics In Electronics Market?_x000D_
The plastics in electronics market covered in this report is segmented as_x000D_
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1) By Product Type: Thermoplastics, Thermosets, Engineering Plastics, Conductive Plastics, Other Product Types_x000D_
2) By Application: Consumer Electronics, Automotive Electronics, Industrial Electronics, Medical Devices, Other Applications_x000D_
3) By End-Use Industry: Consumer Goods, Automotive, Healthcare, Industrial, Other End-Use Industries_x000D_
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Subsegment:_x000D_
1) By Thermoplastics: Polycarbonate (PC), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Polyamide (PA), Polyethylene Terephthalate (PET)_x000D_
2) By Thermosets: Epoxy Resin, Phenolic Resin, Melamine Formaldehyde (MF), Urea Formaldehyde (UF), Polyurethane (PU)_x000D_
3) By Engineering Plastics: Polyoxymethylene (POM), ket*one (PEEK), Polyphenylene Sulfide (PPS), Polyamide-Imide (PAI), Polybutylene Terephthalate (PBT)_x000D_
4) By Conductive Plastics: Carbon-Filled Plastics, Metal-Filled Plastics, Polymer Composites, Graphene-Based Plastics_x000D_
5) By Other Product Types: Liquid Crystal Polymers (LCP), Silicones, Thermoplastic Elastomers (TPE), Acrylics_x000D_
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Who Are the Global Leaders in the Plastics In Electronics Market?_x000D_
Major companies operating in the plastics in electronics market are Sinopec Group, BASF SE, Dow Inc., LG Chem, LyondellBasell Industries N.V., SABIC, Mitsubishi Chemical Corporation, Asahi Kasei Corporation, Sumitomo Chemical Co., Ltd., Toray Industries, Inc., Covestro AG, DuPont de Nemours, Inc., Celanese Corporation, Eastman Chemical Company, Teijin Limited, Formosa Plastics Corporation, PolyOne Corporation (now Avient Corporation), INEOS Group, Evonik Industries AG, Chi Mei Corporation _x000D_
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Which are the Top Profitable Regional Markets for the Plastics In Electronics Industry?_x000D_
Asia-Pacific was the largest region in the plastics in electronics market in 2024 The regions covered in plastics in electronics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
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