The global Plastics In Consumer Electronics Market size is
expected to reach USD 7.70 billion by 2028, according to a new report by Grand
View Research, Inc. The market is expected to expand at a CAGR of 3.8% from
2021 to 2028. Increasing demand from the smartphone & wearable products
industry is anticipated to fuel the demand for plastics in consumer
electronics. 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
they are used for manufacturing housings for electronic devices, mounting
frames, display frames, and vibration cushions that are lightweight and
durable.
Proximity to raw material suppliers and low labor
costs are attracting consumer electronics manufacturers in China. The
presence of several key consumer electronics manufacturers is anticipated to
create significant demand for plastics. Furthermore, increasing demand for
appliances in India is anticipated to boost product demand across the
electronics industry. In addition, rapid urbanization is expected to propel the
demand for mobile phones, laptops, television, and other electronic
appliances across India.
Metal alloys have been vastly used for manufacturing
electronic components. Alloys are preferred due to their durability and better
heat-conducting property. For example, aluminum alloys of grade 7000 series and
6000 series are used mainly in the chassis of laptops or sometimes for their
entire casing. For instance, the bottom chassis of Apple’s Mac book is made up
of aluminum. iPhone and iPad bodies are made of aluminum alloys as well.
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.
Related Press Release@ Plastics in Consumer Electronics Market Report
Plastics in Consumer Electronics
Market Report Highlights
- In terms of revenue, the PC product segment accounted for the
largest share in 2020 and is projected to expand further at a steady CAGR
over the forecast period
- The laptop monitors enclosures segment dominated the market and
accounted for more than 22% of the overall revenue share in 2020
- In 2020, the Asia Pacific region accounted for the maximum revenue
share of the global market and will expand further at the fastest CAGR
from 2021 to 20208
- This growth is credited to the presence of a well-established manufacturing
base for electrical & electronics in China, Japan, and South Korea
- 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 (PCR) materials for application in consumer
electronics, such as laptops, copiers, printers, adapters, and chargers
for improving plastic recyclability
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
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relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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