SEATTLE, April 17, 2019 (GLOBE NEWSWIRE) -- The global thermally conductive polymers market was valued at US$ 141.8 million in 2018 and is projected to exhibit a CAGR of 13.1% over the forecast period (2019–2027).
Key Trends and Analysis of the Thermally Conductive Polymers Market:
Thermally conductive polymers find application in the electrical & electronics industry. Significant growth in the electrical & electronics industry is fueling demand for thermally conductive polymers. For instance, according to India Brand Equity Foundation report on Electronics, June 2017, the electronics market in India is expected to witness a CAGR of 41.4% to reach US$ 400 billion by 2020 from US$ 100 billion in 2016.
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Key market players are focused on offering polymer composites that cater to customer’s precise requirements. Metals and carbon based-fillers increase both thermal and electrical conductivity in polymers. Therefore, companies are focused on using fillers such as graphite that offer both thermal as well as electrical conductivity.
Furthermore, key players in the market are focused on enhancing consumer base and global footprint by adopting strategies such as mergers and acquisitions. For instance, in June 2018, PolyOne Corporation, a provider of specialized polymer materials, announced acquisition of PlastiComp, an advanced engineered materials innovator and producer of specialty composites. PlastiComp's design and production facility in Winona, U.S. will join PolyOne Corporation as part of the Specialty Engineered Materials segment, which is expected to expand PolyOne Corporation’s production capacity.
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Key Market Takeaways:
- The global thermally conductive polymers market is expected to exhibit a CAGR of 13.1% during the forecast period (2019–2027)
- North America accounted for a significant market share in the global thermally conductive polymers market in 2018, owing to growth of various end-use industries in the region such as electronics, automotive, and aerospace
- Significant growth in the automotive industry in North America along with increasing investment is expected to propel growth of the thermally conductive polymers market in the region. For instance, according to the report, ‘State of The U.S. Automotive Industry’, published by American Automotive Policy Council in October 2017, major players in automotive industry such as FCA US, Ford, and General Motors announced investments of over US$ 35 billion in their U.S.-based assembly plants, engine & transmission plants, and R&D labs from 2013 to 2017.
- Some of the major players operating in the global thermally conductive polymers market include, RTP Company, PolyOne Corporation, Celanese Corporation, SABIC, Covestro AG, Royal DSM, Mitsubishi Engineering-Plastics Corporation, HELLA GmbH & Co., and Torray Industries, Inc.
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