Thermally Conductive Plastics Market

Thermally Conductive Plastics Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Thermally Conductive Plastics Market was worth US$ 141.2 Mn and is expected to grow at a CAGR of 16.5% over the forecast period. The market is expected to hit US$ 479.1 Mn by 2030 end.

Thermally conductive polymers are a superior option to aluminum and other metals since they have a 10 to 50 times greater thermal conductivity. Thermally conductive polymers are also stronger and more durable than conventional materials like ceramics.

Rising demand for thermally conductive polymers for heat dissipation applications from different end-use sectors such as electrical & electronics, automotive, industrial, healthcare, aerospace, and telecommunication is driving the market.

Market Dynamic

WIDESPREAD APPLICATIONS DRIVES THE MARKET GROWTH

Increased urbanization or building activity, ease of customization and design flexibility, rising demand for lightweight components in industrial applications, and a growing emphasis on technical breakthroughs and modernization in manufacturing procedures will pave the way for market expansion.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET

The market’s growth will be hampered by a lack of raw material demand and supply due to the shutdown and volatility in their pricing. High expenses associated with research and development capabilities and stringent government rules governing environmental contamination will slow industry expansion. The widespread availability of alternatives in the market will further hamper industry expansion.

COVID-19 Impact

During the COVID-19 epidemic, every country in the globe went into lockdown, significantly impacting the global industrial industry. Production and supply chain interruptions have negatively influenced the thermally conductive polymers industry.

Given that Asia Pacific nations such as China, Japan, and India were viral hotspots during the early outbreak of the COVID-19 pandemic, most of their manufacturing centers remained under lockdown to limit virus transmission. As a result, the area suffered an extensive social distancing campaign, harming its industrial businesses even more.

Market Segments Covered in Report

By Type:

• Polyamide
• Polybutylene Terephthalate
• Polycarbonate
• Polyphenylene Sulphide
• Polyetherimide
• Polysulfones

By End-Use:

• Electrical & Electronics
• Automotive
• Industrial
• Aerospace
• Healthcare
• Telecommunications

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are polycarbonate-based Type Thermally Conductive Plastics projected to have the highest CAGR?

Among the most prominent engineering plastics are outstanding features such as high impact strength, insulation, strong heat resistance, high transparency, flame retardancy, and effective recyclability, polycarbonate-based thermally conductive polymers.

Thermally conductive polymers based on polycarbonate have the flexibility, impact resistance, and optical characteristics to replace other engineering plastics used in comparable applications. Furthermore, the growing need for lightweight and transparent materials in automotive, electrical & electronics, and medical applications has expanded the use of polycarbonate-based thermally conductive polymers.

Why is the automotive segment expected to expand the fastest during the forecast period?

The automotive industry is being pushed by the development of hybrid electric vehicles (HEV) and electric vehicles (EV), which are predicted to increase the demand for thermally conductive polymers in automotive electronics.

The substitution of mechanical components with thermally conductive designed plastics for automotive LED lighting systems is a growing demand for thermally conductive polymers due to the design freedom of 3D elements, weight reduction, and heat sinks.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Due to a growth in R&D activities and an increase in demand for personal automobiles and smart electronics in the area, Asia-Pacific dominates the thermally conductive polymers market.
• Due to rapid economic development in emerging nations, rising industrialization, and ample raw material availability, Asia-Pacific will continue to see significant increases throughout the projection period.
• North America is the thermally conductive polymers market’s second fastest expanding region. The region has an advanced manufacturing ecosystem and export-oriented economies that support the growth of the thermally conductive plastics market.
• Government initiatives to promote electric vehicles and rising investment in the electrical & electronics industry are expected to increase the consumption of thermally conductive plastics during the forecast period.

Competition Analysis

To increase their market share, prominent industry players focus on creating breakthrough technologies and superior-grade materials. Key players in the global thermally conductive plastics market are pursuing different growth strategies such as mergers and acquisitions and business expansion to increase their market position.

Some of the key developments that have taken place in the Thermally Conductive Plastics Market include:

• In February 2022, Celanese Corporation signed a formal deal to buy DuPont’s mobility and materials, division. Celanese Corporation will purchase the product portfolios and manufacturing assets of many engineered thermoplastics and elastomers brands.
• In April 2022, Covestro AG acquired the resins & functional materials business of DSM, a Europe-based manufacturer of specialty materials and chemicals. Covestro AG aims to enhance its business through its technological capabilities and increase its customer base.

A list of some of the key suppliers present in the market are:

• Celanese Corporation
• SABIC
• BASF SE
• DSM
• RTP Compan
• Dow
• Ensinger
• Kaneka Corporation
• Toray Industries, Inc
• Mitsubishi Engineering-Plastics Corporation
• Lanxess, Imerys
• Hella GmbH & Co. KGaA
• Covestro AG
• PolyOne Corporation
• DuPont
• Saint-Gobain
• Huntsman International LLC.
• Woodbridge
• Wanhua

Global Thermally Conductive Plastics Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies