Plastics in Consumer Electronics Market Worth $7.70 Billion By 2028

Plastics in Consumer Electronics Industry Overview

The global plastics in consumer electronics market size was valued at USD 5.50 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028.

Factors, such as increasing demand from smartphone & wearable manufacturers and growing demand for laptops and tablets, are anticipated to fuel the market growth. Plastics are widely utilized in the manufacturing of consumer electronics including components, such as TV frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances & white goods, and others due to their properties, such as flexibility, durability, and chemical & heat resistance. Hence plastics, such as PC, PC/ABS, TPE, and PA, have a high demand from manufacturers of consumer electronics. 

Gather more insights about the market drivers, restrains and growth of the Global Plastics in Consumer Electronics Market

To cater to the increasing demand from the smartphone & wearable products industry, plastics in consumer electronics are being utilized for providing higher durability. The smartphone market offers opportunities for usage of a variety of plastic resins, such as Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Polymethyl Methacrylate (PMMA), as these plastics are used for manufacturing housings for electronic devices, mounting frames, display frames, and vibration cushions that are lightweight and durable.

The technology lifespan of consumer electronics is less as post the launch of the product, the competitors undergo reverse engineering processes to develop a similar or updated version of the technology. Hence, the older versions of products are often discarded by consumers. With the growth of technologically advanced equipment, there is no significant system to manage the discarded old products, which has resulted in the growth of e-waste.

Major players are continuously working on developing bio-degradable polymers owing to the rising environmental concerns. For instance, in November 2020, SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high post-consumer recycled materials for application in consumer electronics, such as laptops, copiers, printers, adapters, and chargers, for improving plastic recyclability. 

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports

  • Molded Pulp Packaging Market: The global molded pulp packaging market size was estimated at USD 4.80 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2022 to 2030. 
  • Polytrimethylene Terephthalate Market: The globalpolytrimethylene terephthalate market size was valued at USD 896.8 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% over the forecast period.  

Plastics in Consumer Electronics Market Segmentation 

Grand View Research has segmented the global plastics in consumer electronics market based on product, application, and region:

Plastics in Consumer Electronics Product Type Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • Polycarbonate (PC)
  • Liquid Crystal Polymer (LCP)
  • Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin
  • Bio-based Polycarbonate
  • Thermoplastic Elastomers (TPE)
  • Polyamides (PA)

Plastics in Consumer Electronics Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

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

Plastics in Consumer Electronics Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa 

Market Share Insights

  • November 2020: SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high post-consumer recycled materials for application in consumer electronics, such as laptops, copiers, printers, adapters, and chargers, for improving plastic recyclability.   

Key Companies profiled:

Some of the prominent players operating in the global plastics in consumer electronics market are:

  • Trinseo S.A.
  • Covestro AG
  • Celanese Corp.
  • SABIC
  • Lotte Chemical Corp.
  • LG Chem
  • Mitsubishi Chemical Corp.
  • SAMSUNG SDI Co., Ltd.
  • Koninklijke DSM N.V.
  • Qingdao Gon Science & Technology Co., Ltd. 

Order a free sample PDF of the Plastics in Consumer Electronics Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

 

Comments

Post a Comment

Popular posts from this blog

Food and Beverage ERP Solutions Procurement Intelligence: Food and Beverage ERP Solutions category is expected to have pricing growth outlook of 8.2% From 2023 To 2030

  Food and Beverage ERP Solutions Category Overview The food and beverage ERP solutions category is expected to grow at a CAGR of 8.2% from 2023 to 2030.Consumers are increasingly seeking transparency and traceability in the food and beverage business, which is fuelling this category's growth. ERP solutions can help businesses to track the origin of their ingredients and products, which can in turn help ensure food safety and meet consumer demand. The supply chain for the food and beverage industry is complex and has a wide range of players. ERP solutions can help businesses to optimize their supply chains, improve efficiency, and reduce costs. Technologies such as cloud computing, barcode scanning, and RFID labels are used under this category. Cloud computing offers a cost-effective and scalable solution for hosting ERP software, enabling remote access to data and applications. Barcode scanning is a fast and efficient method for tracking inventory and materials, improving traceabi...
Read more

Contact Center Software Market Worth $149.58 Billion By 2030

Contact Center Software Industry Overview The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.  The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market. According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company e...
Read more

Manned Guarding Services Procurement Intelligence : Manned Guarding Services Category Is Expected to Grow at CAGR of 13.5% From 2024 to 2030

  Manned Guarding Services Category Overview The manned guarding services category is anticipated to witness growth at a CAGR of 13.5% from 2024 to 2030. Asia Pacific dominates the global category, followed by North America (with the fastest growth rate) and Europe. Rising standards of living, urbanization, and population are the key factors driving Asia Pacific’s growth. In addition, the region’s expanding tourism industry, coupled with political and economic stability, is also propelling the category’s expansion. The growing usage of technologies, such as access control systems and CCTV, is propelling the demand for the services offered in the category in North America. It has also helped companies to cut expenses while improving the safety of their employees and facilities. The demand in Europe is driven by the demand for more security at public events and venues and the growing incidence of terrorist incidents. Order your copy of the  Manned Guarding Services Pro...
Read more