Dublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "Electronics and Consumer Goods Plastics - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Electronics and Consumer Goods Plastics was estimated at US$50.8 Billion in 2023 and is projected to reach US$78.5 Billion by 2030, growing at a CAGR of 6.4% from 2023 to 2030.
The growth in the electronics and consumer goods plastics market is driven by increasing demand for durable, lightweight materials, advancements in plastic technology, and the rising emphasis on sustainability. The expansion of the consumer electronics industry, fueled by demand for smartphones, wearables, and smart home devices, is a significant driver of plastic use, as manufacturers require high-performance materials that support intricate designs and frequent use. Lightweight plastics also help reduce shipping costs and energy consumption, which aligns with manufacturers` goals of optimizing production and distribution efficiency.
The growing focus on sustainability in materials sourcing and production is also driving the market, as companies adopt recycled and biodegradable plastics to meet regulatory standards and consumer expectations. Recycled plastics, particularly in packaging and electronic enclosures, contribute to circular economy efforts and reduce reliance on virgin plastic, supporting environmental sustainability goals. Additionally, technological advancements in plastics, such as the development of engineering-grade and high-temperature-resistant polymers, are expanding their applications in both electronics and consumer goods, making them viable for more specialized and demanding uses.
Moreover, consumer demand for aesthetically pleasing, durable, and eco-friendly products is shaping the market, encouraging manufacturers to invest in high-quality plastics that enhance product appeal and longevity. These factors - demand for lightweight, durable materials, advancements in sustainable and engineering plastics, and consumer and regulatory pressures for sustainability - are driving robust growth in the electronics and consumer goods plastics market, positioning it as an essential component in modern product design and manufacturing.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Household Appliances Application segment, which is expected to reach US$26.3 Billion by 2030 with a CAGR of a 6.7%. The Consumer Electronics Application segment is also set to grow at 7.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $13.3 Billion in 2023, and China, forecasted to grow at an impressive 9.9% CAGR to reach $18.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Electronics and Consumer Goods Plastics Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Electronics and Consumer Goods Plastics Market such as BASF SE, Celanese Corporation, Chevron Phillips Chemical, Covestro AG, DuPont and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 42 companies featured in this Global Electronics and Consumer Goods Plastics market report include:
- BASF
- Celanese Corporation
- Chevron Phillips Chemical
- Covestro AG
- DuPont
- Formosa Plastics Group
- INEOS Nova
- Kuraray
- LyondellBasell Industries,
- Mitsubishi Chemical Holdings
- SABIC
- Solvay
- The Dow Chemical Company
- Toray
- Trinseo
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $50.8 Billion |
| Forecasted Market Value (USD) by 2030 | $78.5 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Electronics and Consumer Goods Plastics - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Lightweight and Durable Materials Drives Market for Plastics in Electronics and Consumer Goods
- Increasing Use of Plastics in Consumer Electronics Expands Market for High-Performance, Heat-Resistant Polymers
- Growth of Electric Vehicles Boosts Demand for Plastics in Lightweighting Components and Insulation
- Technological Advancements in Flame-Retardant Plastics Drive Market for Safer Electronics and Appliance Materials
- Focus on Sustainable Materials Expands Market for Recyclable and Biodegradable Plastics in Consumer Goods
- Increasing Use of Plastics in Medical Devices Propels Demand for Biocompatible, Sterilizable Materials
- Rising Adoption of Plastics in Wearable Devices Expands Market for Flexible, Skin-Friendly Polymers
- Expansion of Smart Home Appliances Drives Demand for Durable, Heat-Resistant Plastics in High-Temperature Applications
- Growth in 3D Printing Technology Expands Use of Plastics in Prototyping and Rapid Manufacturing of Consumer Goods
- Focus on Reducing Carbon Footprint Expands Demand for Low-Emission Plastics in Consumer Goods Production
- Increasing Use of Plastics in Portable Electronics Drives Demand for Lightweight, Impact-Resistant Materials
GLOBAL MARKET PERSPECTIVE
FOCUS ON SELECT PLAYERS
- BASF
- Celanese Corporation
- Chevron Phillips Chemical
- Covestro AG
- DuPont
- Formosa Plastics Group
- INEOS Nova
- Kuraray
- LyondellBasell Industries,
- Mitsubishi Chemical Holdings
- SABIC
- Solvay
- The Dow Chemical Company
- Toray
- Trinseo
For more information about this report visit https://www.researchandmarkets.com/r/i0vggr
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