Wilmington, Delaware, United States, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Firms are growing R&D in improving electrical conductivity in thermoplastic resins in a bid to capture steady revenues from demand for conductive plastic compounds. Steady adoption of these in modern electrical systems and electronic devices is a key trend that has augmented conductive plastic compounds market size over the years. It was valued at US$ 11.0 Bn in 2021.
Plastic compounding firms are tapping into the vast demand for lightweight and high-performance materials in manufacture of vehicles. Of note, they have gained revenues on the back of rising utilization of engineering plastics, and gaining widespread use in optimizing heat transfer applications. Rising adoption of thermal management applications in expanding array of electrical systems is bolstering conductive plastic compounds market growth rate.
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Key Findings of Study
- Demand from Electrical & Electronics Industry Underpins Enormous Opportunity: A massive uptake of engineering plastics in the manufacture of wide spectrum of products in the electrical & electronics industry has propelled a steady growth of the revenues of conductive plastic compounds market. Of note, there is a wide demand for these for manufacturing integrated circuits (ICs), semiconductors, and resistors. Moreover, transition toward high-performance bioplastics in the medical industry to meet the demand for next-gen medical-grade polymers. They are gaining traction in the packaging industry.
- Growing Adoption of Engineering Plastics in Multiple End-Use Industries: Of the various resin types used in the compounding, the engineering plastics segment held a market share in 2021. They are also expected to witness robust demands from the medical devices, consumer goods, and automotive industries. Regulations pertaining to vehicular emissions has led OEMs and automotive manufacturers to adopt conductive plastic compounds.
Conductive Plastic Compounds Market: Key Drivers
- Expansion of the automobile and automotive sector globally is a key driver in that conductive plastic compounds are increasingly being adopted for reducing the vehicle’s weight as well as gathering popularity for use in thermal management.
- Steady utilization of conductive plastic compounds in the manufacture of wide spectrum of electrical and electronics components has propelled revenue generation for market players. Emerging need for high-performance electronics for internet and communication technologies will open up new growth opportunities in the next few years.
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Conductive Plastic Compounds Market: Regional Growth Dynamics
- Asia Pacific held a major market share in 2021, estimated to be 60.8%, and is estimated to expand at a promising growth rate during the forecast period. Firms, both regional and global electronics manufacturers, are tapping into the vast lucrative avenue from automotive industry. Of note, the study authors found that a bulk of demand has come from China where the materials are widely used in the manufacture of electronics components.
- The conductive plastic compounds market in Europe is anticipated to rise at a rapid pace, underpinned largely by the uptake in the automotive and the electronics & electrical sectors. Massive utilization of conductive plastic compounds in the manufacture of automotive electronics has spurred the revenue streams in the regional market.
Conductive Plastic Compounds Market Competition Landscape
A large number of small and large-scale manufacturers and vendors determines the competitive landscape. Many key plastic compounders and producing companies are geared toward leveraging sustainable manufacturing practices to expand total market shares.
Some of the key market players are Sojitz Corporation, Polyvisions Inc., Ravago, Adell Plastics Inc., Coperion GmbH, DuPont Electronic Solutions, SABIC, RTP Company, and BASF SE.
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Conductive Plastic Compounds Market Segmentation
End-use Industry
- Automotive
- Electrical & Electronics
- Building & Construction
- Packaging
- Industrial Machinery
- Medical Devices
- Others
Resin Type
- Polyethylene
- Polypropylene
- Polyvinyl Chloride (PVC)
- Polystyrene
- Engineering Plastics
Filler Type
- Carbon Black
- Carbon Fibers
- Carbon Nanotubes
- Metals
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Countries Covered
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- China
- Japan
- India
- South Korea
- ASEAN
- Rest of Asia Pacific
- Brazil
- Mexico
- Rest of Latin America
- GCC
- Egypt
- South Africa
- Rest of Middle East & Africa
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