The growth of the market is driven by the increasing demand for plastics in the manufacturing of LED Lights, lightweight heat sinks, electric vehicles, medical devices, and lightweight automotive vehicles.
Market Size – USD 174.1 million in 2018, Market Growth - CAGR of 7.8%, Market Trends – Technological advancements in the automotive industry and the evolution of smart electronics.
NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- The Thermally Conductive Plastics (TCPs) Market is forecasted to grow from USD 174.4 Million in 2018 to USD 326.1 Million by 2026, at a CAGR of 7.8%, during the forecast period. Increasing demand for plastics in the manufacture of LED lights, lightweight heat sinks, electric vehicles, medical devices, and lightweight automotive vehicles is driving market growth.
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Due to the strong presence of thermally conductive plastic manufacturers in the region, North America has a significant share in the market. Similarly, in the forecast period, Latin America and Europe are also emerging regions and are expected to experience remarkable growth, during the forecast period.
New product developments, expansions, acquisitions and agreements, collaborations and partnerships were the major growth strategies that market players adopted to increase their regional presence and meet the growing demand for TCPs in emerging economies
Further key findings from the report suggest
- The Thermally Conductive Plastics (TCPs) Market is forecasted to grow from USD 174.4 Million in 2018 to USD 326.1 Million by 2026, at a CAGR of 7.8%, during the forecast period. Increasing demand for plastics in the manufacture of LED lights, lightweight heat sinks, electric vehicles, medical devices, and lightweight automotive vehicles is driving market growth.
- The market for electrical & electronics is expected to grow the largest at USD 84.4 Million in 2026, at a CAGR of 8.3% during the forecast period. TCPs are used in connectors, mounting devices, heat sinks, cooling parts, interface materials, enclosures, and cooling systems. The global market for thermally conductive plastics is driven by the increased demand for smart systems in end-user industries such as electrical and electronics and automotive. Rising preference of the global consumer to light-weight products is also stimulating growth for the market.
- The market for lightning systems, by application, will hold largest market and is expected to reach USD 157.2 Million in 2026, at a CAGR of 8.7%. The worldwide market is driven by increasing demand for smart street lighting solutions. Other factors, such as the development of new wireless technology and the growing need for energy efficiency, also contributed to market growth.
- The market for Polyamide, by type, will hold largest market and is expected to reach USD 67.2 Million in 2026, at a CAGR of 8.8%, during the forecast period. Because of its superior properties such as impact resistance, high temperature resistance, abrasion resistance, excellent balance of strength, resistance to bases and heat conductivity, polyamide rapidly replaces metals in various applications.
- The market for Asia Pacific (APAC) is expected to reach USD 101.1 Million in 2026, at the highest CAGR of 8.6%, during the forecast period. Because of high disposable income and rising living standards in the region, demand for smart electronics and electric vehicles is expected to increase over the forecast period.
- The key players in the TCPs market are Celanese Corporation (US), PolyOne Corp. (US), RTP Company (US), SABIC (Saudi Arabia), Toray Industries (Japan), Royal DSM N.V. (Netherlands), Kaneka Corp. (Japan), and Mitsubishi Engineering Plastics Corp. (Japan) and others.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, carbon based solutions, application, end-user and regional analysis.
Type (Revenue, USD Million; 2016-2026)
- Polyamide (PA)
- Polybutylene terephthalate (PBT)
- Polycarbonate (PC)
- Polyetherimide (PEI)
- Liquid Crystal Polymer
- Thermoplastic Polymer
- Polyphenylene sulfide (PPS)
- Others
Carbon based solutions (Revenue, USD Million; 2016-2026)
- Natural Graphite powders
- Synthetic Graphite powders
- Conductive carbon blacks
- Silicon-carbon composites
- Water dispersions
- Others
Application (Revenue, USD Million; 2016-2026)
- Lighting Systems
- Battery Modules
- Others
End-Users (Revenue, USD Million; 2016-2026)
- Electrical & electronics
- Automotive
- Industrial
- Healthcare
- Aerospace
- Others
Region (Thousand, Units and Revenue, USD Million; 2016-2026)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
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