Global Plastics In Consumer Electronics Market Size By Product (Polycarbonate And Acrylonitrile Butadiene Styrene), By Application (TV Frames, Laptop Monitor Enclosures And LCD Panels), By Geography Scope And Forecast

Plastics In Consumer Electronics Market Size And Forecast

Plastics In Consumer Electronics Market size is growing at a good pace over the last few years and is expected to grow at a CAGR of 6.2% over the forecasted period i.e 2023 to 2023.

ThePlastics In Consumer Electronics Market is expanding as a result of the growing population and increased demand for consumer products. The expansion of the middle class, the low cost of plastics, and the presence of multiple competitors all contribute to the growth of the electronics and consumer goods plastics business. The Global Plastics In Consumer Electronics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Plastics In Consumer Electronics Market Definition

Plastics provide a special purity. Pure plastic polymer compounds greatly reduce and even completely remove the chance of contamination, assisting in ensuring the greatest caliber of electronics and the microchips that power them.

Global Plastics In Consumer Electronics Market Overview

Rapid urbanization and industrialization result in the growth of smart cities, which are anticipated to fuel the industrial expansion of the electronic and electrical industries. This has a favorable effect on the plastics market for consumer electronics. The demand for the plastic electronics market is also increasing since there are an increasing number of markets offering a wide range of product options on the worldwide market. Additionally, the firm was inspired to develop a new product line for the plastic market for consumer electronics by the advancement of modern trade.

Government programs implemented globally have shifted manufacturers’ attention to the creation of bio-based and biodegradable products. As a result, it has a favorable effect on markets for the production of ecologically friendly plastic for the consumer electronics sector. The businesses are forging strategic alliances with the major players and end-use sectors, which are fueling the expansion of the Plastics In Consumer Electronics Market. One of the main issues limiting the plastic industry for consumer electronics is the rise in raw material prices.

In addition, strict regulations and rising concerns about the management of disposable waste are two other main issues that are hindering the demand for products over time. Since most plastic is not biodegradable, a number of regulatory policies have been put in place to address these issues. The market is expected to increase as a result of factors like rising demand from producers of smartphones and wearable technology as well as rising demand for laptops and tablets. Due to their qualities like flexibility, durability, and chemical and heat resistance, plastics are frequently used in the manufacturing of consumer electronics. As a result, consumer electronics manufacturers have a strong need for plastics like TPE, PC/ABS, PC, and PA.

Global Plastics In Consumer Electronics Market Segmentation Analysis

The Global Plastics In Consumer Electronics Market is segmented on the basis of Product, Application, and Geography.

Plastics In Consumer Electronics Market, By Product

• Polycarbonate
• Acrylonitrile Butadiene Styrene
• Polystyrene
• Poly methyl methacrylate
• Polyamide
• Others

Based on Product, The market is segmented into Polycarbonate, Acrylonitrile Butadiene Styrene, Polystyrene, Poly methyl methacrylate, Polyamide, and Others. The global market was led by the polycarbonate category. Polycarbonate can withstand significant plastic deformations without breaking or cracking. It is incredibly resilient to high temperatures and is strong. As a flame retardant, PC/ABS blend is frequently utiliZed because it offers impact strength, great heat resistance, easier processing, flexibility, and biocompatibility.

Because of these characteristics, it can be used to provide housing for electronic devices. The demand for healthcare equipment has increased due to the global COVID-19 pandemic, including thermometers, oximeters, and blood pressure monitors. This has led to an increase in the demand for PC/ABS globally.

Plastics In Consumer Electronics Market, By Application

• TV Frames
• Laptop Monitor Enclosures
• LCD Panels
• Portable Hand-held Devices
• Wearables
• Mobile Phone Bodies
• Others

Based on Application, The market is segmented into TV Frames, Laptop Monitor Enclosures, LCD Panels, Portable Hand-held Devices, Wearables, Mobile Phone Bodies, and Others. Due to an increase in digitalization in all sectors of the economy, the laptop monitor enclosure application segment is growing due to the development of user-friendly user interfaces and rising middle-class demand has boosted the global market for computer electronics. Due to their excellent resilience, plastics used to make laptop monitor enclosures extend the life of the equipment.

Plastics In Consumer Electronics Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Geography, the Global Plastics In Consumer Electronics Market is classified into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In upcoming years, Asia Pacific has dominated the plastics market for the consumer electronics sector. The Plastics In Consumer Electronics Market are dominated by China. The factors that had a good effect on the market for electronic plastic included labor, land, and raw materials, as well as cheap production costs in comparison to other worldwide markets. The massive investment made in the R&D center and the rising need for plastic in the construction, automotive, and packaging industries both significantly contributed to the growth of the Plastics In Consumer Electronics Market.

Buyers, particularly in the Asia Pacific Region, are influenced by variables such as changing lifestyle patterns, enhanced physical and mechanical attributes, and consumer predisposition towards appealing new products like cell phones, TVs, etc. Over the forecast periods, North America will have one of the fastest-growing markets for electronic plastic. The efficient use of alternative materials like rubber, glass, and wood in the production of a variety of consumer goods like toys and jewelry has increased the demand for plastic in the electronic sector.

Key Players

The “Global Plastics In Consumer Electronics Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Trinseo S.A., SABIC, Celanese Corp., Covestro AG, Qingdao Gon Science & Technology Co., Ltd., SAMSUNG SDI Co., Ltd., Lotte Chemical Corp., LG Chem, Koninklijke DSM N.V., and Mitsubishi Chemical Corp amongst others.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2022, SABIC unveiled LNP ELCRIN EXL7414B copolymer, the company’s first bio-based polycarbonate copolymer to help the consumer electronics industry achieve its net-zero carbon emissions targets. The new copolymer is the first version in a growing collection to receive the International Sustainability and Carbon Certification Plus (ISCC+) label. According to the mass balance technique, it is formulated with more than 50% bio-based material made from waste materials that do not compete with the food chain. According to a preliminary internal SABIC analysis, each kilogram of the new bio-based resin reduces CO2 by two kilograms compared to the fossil-based alternative. Along with ULTEM resins and LNP THERMOCOMP compounds, LNP ELCRIN EXL resin is the newest addition to SABIC’s rapidly expanding line of bio-based materials.
• In November 2020, SABIC announced the extension of its line of Cycoloy and Lexan PC resins, which have high levels of post-consumer recycled materials and are intended for use in consumer electronics like copiers, laptops, adapters, printers, and chargers.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Plastics In Consumer Electronics Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Plastics In Consumer Electronics market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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