The global plastics in consumer electronics market size is estimated to arrive at USD 7.70 billion by 2028. It is projected to develop by 3.8% CAGR from 2021 to 2028.
Growing demand from the manufacturing companies of wearable and smart phone products is expected to stimulate the demand for plastics in consumer electronics.
The market for smart phone provides openings for the utilization of a range of plastic resins like, Polymethyl Methacrylate (PMMA), Polycarbonate (PC), and Acrylonitrile Butadiene Styrene (ABS). These plastics are utilized for making vibration cushions, housings for electronic devices, display frames, and mounting frames. These plastics are durable and light in weight, due to which the market for plastics in consumer electronics is increasing.
In China the factors like small labor expenses and immediacy to raw material suppliers are fascinating the manufacturing companies of consumer electronics goods. The existence of a number of major consumer electronics manufacturing companies is expected to generate major demand for the plastics.
Besides, in India, growing demand for the appliances is expected to increase demand for the plastics, through the electronics manufacturing sector. Fast urban development is anticipated to boost the demand for television sets, mobile phones, laptops, white goods & appliances plus additional electronic goods through India, which is projected to increase the development of the market.
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Further key findings from the report suggest:
• As a result of the increasing concerns regarding the environment, major companies are incessantly operational on developing recyclable polymers
• Such as, SABIC declared the extension of its product range of Cycoloy & Lexan PC resins by means of the greater Post-Consumer Recycled (PCR) materials, intended for the utilization in consumer electronics like chargers, laptops, adapters, copiers, and printers, in favor of increasing recyclability of the plastic, in November 2020
• Asia Pacific region held the highest revenue share of the global market, in 2020. It is projected to further develop by the highest CAGR, during the forecast period. The enlargement of the region is accredited to the existence of an entrenched manufacturing center for electronics & electrical goods in South Korea, China, and Japan
• The laptop monitors enclosures section held above 22.0% revenue share of the general market, in 2020
• In 2020, the PC product section held the main share of the market, in terms of the revenue. It is expected to additionally increase by a stable CAGR, during the forecast period
Million Insights segmented the global plastics in consumer electronics market based on Application, Product, and Region.
Plastics in Consumer Electronics Product Type Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
• Polycarbonate (PC)
• Liquid Crystal Polymer (LCP)
• Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin
• Bio-based Polycarbonate
• Thermoplastic Elastomers (TPE)
• Polyamides (PA)
Plastics in Consumer Electronics Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
• TV Frames
• Laptop Monitor Enclosures
• LCD Panels
• Portable Hand-held Devices
• Mobile Phone Bodies
• Appliances & White Goods
Plastics in Consumer Electronics Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
• North America
• Asia Pacific
• South Korea
• Southeast Asia
• Central & South America
• Middle East & Africa
• Saudi Arabia
Various companies for plastics in consumer electronics market are:
• Koninklijke DSM N.V.
• Mitsubishi Chemical Corp.
• Lotte Chemical Corp.
• Celanese Corp.
• Trinseo S.A.
• Qingdao Gon Science & Technology Co., Ltd.
• SAMSUNG SDI Co., Ltd.
• LG Chem
• Covestro AG