New York, United States , July 23, 2024 (GLOBE NEWSWIRE) -- The Global Plastics in Consumer Electronics Market Size is to Grow from USD 14.49 Billion in 2023 to USD 27.20 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.50% during projected period.
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Plastics in consumer electronics refer to the use of various plastic materials in the manufacture of electronic devices. These materials offer numerous benefits, including high strength-to-weight ratios, electrical insulation, and design flexibility. Plastics are applied in several consumer electronics components, such as casings, connectors, displays, circuit boards, and packaging. The use of plastics in consumer electronics has altered the industry, enabling the development of lighter, more compact, and visually appealing devices. The consumer electronics plastic sector is growing as a result of favorable demographics, changing lifestyles, and increased customer awareness of the quality of electronic plastics. Rapid industrialization and urbanization have resulted in the development of smart cities, which are predicted to drive industrial growth in the electronic and electrical industries, benefiting the consumer electronics plastic industry. Plastics are appropriate for consumer electronics due to their lightweight nature, which enhances portability and user comfort. Plastics also provide durability, ensuring the longevity of electronic equipment, which is a major cause for their market expansion. Furthermore, the costs of plastic raw materials are susceptible to changes caused by factors such as crude oil prices, supply-demand imbalances, and geopolitical issues. This fluctuation in raw material pricing may provide challenges to companies in terms of cost control and profitability.
Browse key industry insights spread across 216 pages with 110 Market data tables and figures & charts from the report on the "Global Plastics in Consumer Electronics Market Size, Share, and COVID-19 Impact Analysis, By Product (Polycarbonate (PC), Liquid Crystal Polymer (LCP), Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin, Bio-based Polycarbonate, Thermoplastic Elastomers (TPE), and Polyamide (PA)), By Application (TV Frames, Laptop Monitor Enclosures, LCD Panels, Portable Hand-held Devices, Wearables, Mobile Phone Bodies, Appliances & White Goods, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The polycarbonate (PC) segment accounted for the largest revenue share in the plastics in consumer electronics market during the projected timeframe.
Based on the product, the plastics in consumer electronics market is divided into polycarbonate (PC), liquid crystal polymer (LCP), polycarbonate/acrylonitrile butadiene styrene (PC/ABS) glass filled resin, bio-based polycarbonate, thermoplastic elastomers (TPE), and polyamide (PA). Among these, the polycarbonate (PC) segment accounted for the largest revenue share in the plastics in consumer electronics market during the projected timeframe. Polycarbonate is a thermoplastic polymer with significant effects on strength, optical clarity, and heat resistance, along with excellent dimensional stability. It can be either colored or transparent. Polycarbonate differs from other thermoplastics in that it can withstand large plastic deformations without breaking or cracking. It is incredibly durable and can resist extremely high temperatures.
The laptop monitor enclosures segment holds the highest market share the plastics in consumer electronics market during the projected timeframe.
Based on the application, the plastics in consumer electronics market is divided into TV frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances & white goods, and others. Among these, the laptop monitor enclosures segment holds the highest market share the plastics in consumer electronics market during the projected timeframe. The creation of user-friendly interfaces, along with growing demand from the middle class, have fueled the global market for computer electronics, as digitalization has extended throughout all industries. Plastics used for creating laptop monitor casings have a longer lifespan owing to their durability and resilience.
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Asia Pacific is expected to hold the largest share of the Plastics in Consumer Electronics Market over the forecast period.
Asia Pacific is expected to hold the largest share of the Plastics in Consumer Electronics Market over the forecast period. Consumers’ preference for appealing new products such as cell phones and televisions, along with factors such as changing lifestyle patterns and improved physical and mechanical characteristics influencing buyers, particularly in the Asia Pacific Region, all contributed to a positive impact on the plastic electronic market. Other factors that led to the expansion of the plastic electronic market included labor, land, and raw materials huge investments in R&D centers, and rising demand for plastic in automotive, construction, and packaging.
North America is predicted to grow at the fastest pace in the Plastics in Consumer Electronics Market during the projected timeframe. Plastic demand in electronics has increased as a result of the extensive creation of toys, jewelry, and other consumer products using alternative materials such as rubber, glass, and wood. Many smartphone shells, notably the Samsung Galaxy and iPhone series, are made of glass-filled resins, PC/ABS blends, or polycarbonate. These textiles are robust while remaining elegant and slim. Furthermore, the Plastics Industry Association states that plastics are widely used in the electronics, packaging, and automotive industries, and their use is projected to grow as material technology advances.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the plastics in consumer electronics market include Trinseo S.A., Covestro AG, Celanese Corp., SABIC, Lotte Chemical Corp., LG Chem, Mitsubishi Chemical Corp., Koninklijke DSM N.V., Kuraray Co., Ltd., Qingdao Gon Science & Technology Co., Ltd., DuPont de Nemours Inc., LANXESS AG, PolyOne Corporation, Teijin Limited, and Others.
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Recent Developments
- In August 2023, SABIC's STAMAXTM RESIN received U.L. validation for thermal runaway protection.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the plastics in consumer electronics market based on the below-mentioned segments:
Global Plastics in Consumer Electronics Market, By Product
- Polycarbonate (PC)
- Liquid Crystal Polymer (LCP)
- Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin
- Bio-based Polycarbonate
- Thermoplastic Elastomers (TPE)
- Polyamide (PA)
Global Plastics in Consumer Electronics Market, By Application
- TV Frames
- Laptop Monitor Enclosures
- LCD Panels
- Portable Hand-held Devices
- Wearables
- Mobile Phone Bodies
- Appliances & White Goods
- Others
Global Plastics in Consumer Electronics Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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