Dublin, March 09, 2023 (GLOBE NEWSWIRE) -- The "Thermally Conductive Plastics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Thermally Conductive Plastics Market to Reach $409.7 Million by 2030
The global market for Thermally Conductive Plastics estimated at US$142.3 Million in the year 2022, is projected to reach a revised size of US$409.7 Million by 2030, growing at a CAGR of 14.1% over the analysis period 2022-2030.
Polyamide, one of the segments analyzed in the report, is projected to record a 14.5% CAGR and reach US$107.9 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Polybutylene Terephthalate (pbt) segment is readjusted to a revised 14.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $45.8 Million, While China is Forecast to Grow at 17.5% CAGR
The Thermally Conductive Plastics market in the U.S. is estimated at US$45.8 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$69.3 Million by the year 2030 trailing a CAGR of 17.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 13.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$44.2 Million by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem.
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand.
With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 463 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $142.3 Million |
| Forecasted Market Value (USD) by 2030 | $409.7 Million |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- A Prelude to Thermally Conductive Plastics
- Ease of Customization and Design Flexibility
- Thermal Conductivity of Metals Vs. Plastics
- Impact of Covid-19 and a Looming Global Recession
- World Shifts to an Endemic COVID-19 Strategy with Focus on Multilateral Approach to Managing Future Pandemics
- War, Inflation & High Cost of Living Crisis Supersede COVID-19 as Major Downside Risks for the Global Economy in 2022 & Beyond
- COVID-19 Decimates Thermally Conductive Plastics Demand, Prospects Promising
- Manufacturing Growth Skews Upside amid Rising Prices & Supply Chain Hiccups
- Competition
- Competitive Market Presence - Strong/Active/Niche/Trivial for Market Players Worldwide in 2022 (E)
- Global Thermally Conductive Plastics Market in Upswing Mode with Colossal Gains
- Polyamide: Thriving Segment of Thermally Conductive Plastics Market
- Electrical & Electronics Holds Commanding Share
- LED Light Segment to Occupy Major Share
- Primary Applications of Advanced Materials
- Home Electronics & Wi-Fi Routers
- Batteries & LED Heat Sinks
- Automotive Domain
- North America & Europe Holds Major Share in TCPs Market
- Asia-Pacific Sweeps Global Thermally Conductive Plastics Market with Majority Stake
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Electrical & Electronics: The Largest Market for Thermally Conductive Plastics
- Consumer Electronics Segment Witnesses Burgeoning Growth, Driving the Demand for TCP
- Miniaturization Trend Spurs Demand for Thermally Conductive Plastics
- Development of Smart Electronics Bodes Well for the Thermally Conductive Plastics Market
- Smartphones & Tablet PCs Boost Prospects
- LED Lighting Makes Transition to Thermally Conductive Solutions
- Thermally Conductive Plastics for Heat Management in LED Lamps
- Smart Cities Drive Installation of Smart & Connected Lighting Systems
- Growing Number of Smart Homes Create Significant Demand
- Smart Intelligent LED Lighting Catalyze Growth Prospects
- Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion for TCP
- Increasing Adoption of Smart Lighting Systems as a Measure to Cut Energy Costs Drive the Demand for Thermally Conductive Plastics
- Rising Demand for Smart, Energy Efficient Lighting Systems in Industrial Applications Bodes Well for Market Expansion
- Automotive Industry: Another Major Market for Thermally Conductive Plastics
- A Current & Post Pandemic Outlook for Thermally Conductive Plastics in Automotive Applications
- Outlook for 2023 Remains Positive
- Evolving Car Electronics to Drive Long Term Gains
- Popularity of Electric Vehicles to Power Growth
- Increasing Demand for Thermally Conductive Plastics in Electric and Hybrid Vehicle Battery Housings
- Prospects in Aerospace Sector
- Aging Aircraft Fleet, an Opportunity for Fleet Upgrades and Replacement Parts & Components
- Recovery in Construction Sector to Boost Demand for Thermally Conductive Plastics
- Growing Demand from the Industrial Sector Propels Market Growth
- Emphasis on Automation Creates Conducive Environment for Thermal Conductive Plastics
- Novel Opportunities in Healthcare Sector
- Uptrend in Healthcare Spending Bodes Well
- Select Advancements and Innovations
- Injection Molding Remains Key Technology
- Thermally Conductive Plastics for Heat Management Augment Digital Revolution
- 3D Printing & Sustainability Aspects
FOCUS ON SELECT PLAYERS (Total 73 Featured)
- Arkema Group
- Avient Corporation
- BASF SE
- Celanese Corporation
- Compagnie de Saint-Gobain SA
- Covestro AG
- DuPont de Nemours, Inc
- Ensinger Gmbh
- Eurostar Engineering Plastics
- Exxon Mobil Corporation
- HELLA GmbH & Co. KGaA
- Imerys S.A.
- Kaneka Corporation
- Kenner Material & System Co. Ltd
- Lanxess AG
- Lehmann & Voss & Co
- Lotte Advanced Materials Co., Ltd
- Mitsubishi Engineering-Plastics Corp.
- Nytex Composite Co., Ltd
- Ovation Polymers Inc.
- Royal DSM N.V.
- RTP Company
- Saudi Basic Industries Corporation (SABIC)
- Themix Plastics, Inc
- Toray Industries, Inc.
- Ugent Tech Sdn Bhd.
For more information about this report visit https://www.researchandmarkets.com/r/zcb6rg
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