“Ease-of-customization and design flexibility is a prime factor for the Growth Of Thermally Conductive Plastics Market”
The global thermally conductive plastics market size (2022–2031) is estimated to reach USD 757.4 million by 2031, at a CAGR of 14.3%. The strong focus on customization and design flexibility is a prime factor for the growth of thermally conductive plastics market. Plastic materials are comparatively lighter than other alternative materials such as metals and ceramics and are easy-to-handle, customize, mold, have higher scratch resistance, thermal stability, impact strength, and resistance to abrasions. These are major drivers for the growth of thermally conductive plastics.
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“Electrical & electronics is the largest end-use industry of thermally conductive plastics”
Thermally conductive plastics are used in various end-use industries such as electrical & electronics, automotive, industrial, heathcare, aerospace, and others. In 2022, the electrical & electronics segment accounted for the largest market share among all the end-use industries, in terms of volume, followed by automotive, industrial, and healthcare. Among all the end-use industries, heathcare is estimated to grow register the highest CAGR between 2022 and 2031.
“Rising demand from North America is the major driver for thermally conductive plastics “
In 2022, North America is estimated to account for the largest market share, in terms of volume, and is estimated to remain the market leader in next 5 years. Use of shale gas as raw material for producing polymers has lowered thermally conductive plastic price in the market and is boosting regional demand in the North America region is the major driving factor for the global thermally conductive plastics market. The U.S. led the demand for thermally conductive plastics due to increased demand of LED lightning in the last 2–3 years. Other emerging economies, such as China, India, Mexico, the markets in these countries are projected to grow rapidly.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
• By Company Type – Tier 1 – 37 %, Tier 2 – 50 % and Others – 13 %
• By Designation – C level – 50%, Director level – 31%, Others – 19%
• By Region – North America – 38%, Europe – 36%, Asia-Pacific – 25%, RoW – 6%
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The key companies profiled in this market research report are BASF SE (Germany), Covestro (Bayer MaterialScience) (Germany), Saint Gobain SA (France) Toray Industries Inc. (Japan), Royal DSM N.V. (The Netherlands), HELLA KGaA Hueck & Co.(Germany), RTP Company (U.S.), Celanese Corporation (U.S.), Polyone Corporation (U.S.), Kaneka Corporation (Japan), and Mitsubishi Engineering-Plastics Corporation (Japan).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the thermally conductive plastics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:Lauren Brown
Shibuya Data Count
Tel: + 81 50 50509159
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