The
global Plastics
In Electrical And Electronics Market size is anticipated to reach USD 53.27
billion by 2030 and it is projected to grow at a CAGR of 5.2% from 2024 to
2030, according to a new report by Grand View Research, Inc.
The
global electrical & electronics market is vast and dynamic. It encompasses
a wide range of products and services. The growth of this market across the
world is driven by multiple factors, including ongoing technological
advancements, rising consumer demand for electrical components and electronic
devices, and increasing urbanization. Surging disposable income and increasing
demand for energy efficiency are factors contributing to the growth of
electrical & electronics market worldwide.
An
expansion of electronics industry, driven by the emergence of 5G, IoT, and
AI technologies, has driven the demand for plastics in electrical &
electronics market. Moreover, increasing demand from building &
construction industry globally is anticipated to boost demand for plastics
across electrical & electronics industry.
Players
across the market maintain a high market competition with the implementation of
various strategic initiatives such as new Polymer launch, Polymerion expansion,
merger & acquisitions, among others. For instance, in may 2023, SABIC
announced its expansion of high-heat ULTEM resin portfolio by introducing new
glass fibre-reinforced grades that would deliver high flow, custom colour
ability, and high strength. This Polymer is well suited for electronic
components such as fibre optics and electrical connectors.
The
market is witnessing a transformation of the value chain from a linear economy
into a circular one. Major players in the market are transitioning to a
circular economy to obtain more sustainable solutions and minimize their
dependency on crude oil in the future. This trend has led to a rise in the
demand for renewable raw materials such as vegetable oil, and plastic waste to
produce plastics in recent years.
The
rising number of data centers across the world has increased the demand for
electronic devices, electrical connectors, laptops, desktops, printing devices,
server racks, and other such equipment that are developed from plastics.
Polycarbonate is a prime plastic utilized across the IT server industry as it
leads to the development of highly durable, flexible, and lightweight twin
walls, wall-mounted enclosures, aisle containment panels, cooling system housings,
etc.
Moreover,
the surging demand for data servers owing to the prevailing trend of cloud
computing has led companies such as Facebook, Inc., Amazon.com, Inc., Twitter,
and Microsoft Corporation to install sever systems for data storage. This has
contributed to the demand for polycarbonate (PC) and other plastics for use in
the global IT server industry.
List of Key Players In the Plastics In Electrical And
Electronics Market
- BASF SE
- Ensinger,
Inc.
- Covestro AG
- TORAY
INDUSTRIES, INC.
- Radici
Partecipazioni SpA
- RTP Company
- LOTTE
Chemical Corporation
- Trinseo S.A.
- SABIC
- Evonik
Industries AG
- Mitsubishi
Chemical Group Corporation
- Arkema
- LyondellBasell
Industries Holdings B.V.
- Celanese
Corporation
- Exxon Mobil
Corporation
- LG Chem
- INEOS Group
- CHIMEI
Related Press
Release@ Plastics
In Electrical And Electronics Market Report
Plastics In Electrical And Electronics Market Report
Highlights
- The
expansion of the electronics industry, driven by the emergence of 5G, IoT,
and AI technologies, has driven the demand for plastics in electrical
& electronics market. Moreover, increasing demand from building &
construction industry across the globe is anticipated to boost the demand
for plastics across electrical & electronics industry
- Based on
polymer, PVC is commonly used for insulation, cable sheathing, and wire
coatings. Its fire resistance and good electrical properties make it an
ideal material for ensuring safety and reliability in electrical systems
- Smartphones,
tablets, and computers are ubiquitous in consumer electronics, providing
communication, entertainment, and productivity functions. Medical devices
such as diagnostic, monitoring, and treatment systems rely on electronic
components for accurate and reliable performance
- The demand
for high-quality medical devices across countries such as China, India,
and Singapore, is increasing on account of the rising healthcare
expenditure which again increases in demand for the market as majority of
the medical devices requires polymers, PCBs, electrical casings and others
Plastics In Electrical And
Electronics Market Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD 39.94
billion |
|
Revenue
forecast in 2030 |
USD 53.27
billion |
|
Growth
rate |
CAGR of
5.2% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Historical data |
2018 - 2022 |
|
Forecast period |
2024 - 2030 |
Request For A Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/456349/rfc
Plastics In Electrical And Electronics Market
Segmentation
Grand
View Research has segmented the global plastics in electrical and electronics
market report based on polymer, application, and region:
Plastics In Electrical And Electronics Polymer
Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Acrylonitrile
butadiene styrene (ABS)
- Polypropylene
(PP)
- Polyurethane
(PU)
- Polyvinyl
Chloride (PVC)
- Polyethylene
(PE)
- Polycarbonate
(PC)
- Polymethyl
Methacrylate (PMMA)
- Polyamide
(PA)
- Others
Plastics In Electrical And Electronics Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Wires &
cables
- Electrical
insulation
- Printed
circuit boards (PCBs)
- Electronic
devices
- Electrical
connectors
- Others
Plastics In Electrical And Electronics Regional
Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- Southeast
Asia
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- Saudi
Arabia
- United Arab
Emirates (UAE)
- South
Africa
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 research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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
For More Information: https://www.grandviewresearch.com
