Global Thermally Conductive Plastics Market - 2020-2027
発行: DataM Intelligence
The global thermally conductive plastics size was worth US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Thermally conductive plastics are engineered in a way that it combines all properties of metals to heat transfer, dissipation and cooling capabilities with reduced weight and cost compare to other metals. The materials are formulated using selected engineering resins such as polyamide, polycarbonate, polyphelene sulphide, polybutylene terephalate and polyetherimide along with addition of conductive additives to improve thermal conductivity by 50-100 times than conventional plastics. These plastics protect sensitive electronics devices and a component against high temperature formation.
Thermally conductive plastics are substantially used in end-user industries such as aerospace, automotive applications, building &construction, electrical and electronics, healthcare and among others.
Thermally conductive plastic market is driven by surge in automotive production and sale which uses these plastics due to its low cost and high efficiency. Further rising adoption of the thermally conductive plastics by the manufacturing facilities of electronics & electrical devices have propelled the demand for this market. Also surge in demand for the light weight, and cost-effective material for the healthcare and aerospace industry have propelled the market growth.
Thermally conductive plastics in automotivereduces the weight of vehicles, increases overall vehicles performance, provides design flexibility and thus reduces the overall costs.Growing sale of the cars due to rising disposable income and surge in consumers spending have propelled the thermally conductive plastic market. For instance, as per the Car Group Organization in 2019, Global light vehicle production reached to around 94.5 million due to increasing global sale of the vehicles around the globe. Further increasing demand in the building & construction sector to provide thermal insulation, due to its properties light weight, corrosion resistance, low thermal conductivity, waterproof, energy-saving properties.
Thermally conductive plastics reduces the total cost and weight of the components and devices used in the electronics and aerospace industries. As aerospace-grade polymers including polyetheretherketone (PEEK), polyphenylsulfone (PPSU), polyetherimide (PEI) and polyetherketoneketone (PEKK) provide a reliable and cost-effective way to reduce weight.
As per the American Aerospace Industry Association report in 2018 Aerospace &Defense sector has contributed over US$374 billion to the United State's GDP. It created massive demand for the thermally conductive plastics in the aerospace and defense, electronics, as well as industrial sectors to reduce overall cost and weight of the aircraft.
Further increasing launch of new thermally conductive products by addition of certain additives may create huge opportunity for the growth of the thermally conductive plastics market. For instance, on 10th May 2018, Covestro launched new thermally conductive (TC) polycarbonate grades materials Makrolon TC polycarbonate portfolio, which provides passive thermal management in luminaries, LED lamps and other market applications.
Further on 18th Sept 2019, Massachusetts Institute of Technology's (MIT)team of researchers has designed ultra-thin plastic films which has capability of conducting heat. These plastic films have better thermal heat conduction properties than metals and ceramics and thinner than plastic wraps. It created lucrative opportunity for the growth of the thermally conductive plastic in wide range of applications.
The global thermally conductive plastics market has shown slight declination due to theCovid-19pandemic, as several leading manufacturing industries were closed. Several countries have restricted production activities during the covid-19 pandemic. Further thegrowth of the textile & apperal was also declined due low demand in the Month of June 2020.
However, the demand for the thermally conductive plasticsslightly increased in August 2020, as several leading manufacturer started production. The leading manufacturers of the automotives, aerospace and defense, electronics devices have planned the investment for enhancing the production due to growing demand.
For instance, Subaru Corp. an automotive corporation have planned to invest aroundUS$ 158 million for build a transmission assembly shop and a service parts such as lights, LED lamps at its Indiana plant. Further increasing demand of the medical devices during the covid-19 pandemic created huge opportunity for the thermally conductive plastics market.Further demand of thermally conductive plastics will increase as soon as pandemic over.
The global thermally conductive plasticsis segmented based on resin type, end-user and region.
In terms of resin type, the global thermally conductive plastics is bifurcated intopolyamide, polycarbonate, polyphelene sulphide, polybutylene terephalate, polyetherimide and others. Among this,polycarbonatehas the highest market share in 2019, owing to rising demand in the manufacturing facilities of the consumer electronics, automotive components etc.
As per the International Organization of Motor Vehicle Manufacturers, the global passenger vehicles sale reache to around 67,149,196 number of units which propels the thermally conductive plastics market require in the manufacturing of the automotive electrical components, body panels and wirings.
Similalry, polyamide, polyphelene sulphide, polybutylene terephalate, polyetherimidesegments are also growing at faster pace owing to surge in demand in the LED lightings manufacturing to facilitate high performace in residential, automotives and electronics applications. As per the International Energy Agency (IEA) Organization in 2019, LED light sources including bulbs, tubes, modules and luminaires sales reached more than 10 billion units for both residential and commercial LED deployment around the globe. It created massive demand for the above mentioned thermally conductive materials used in the manufacturing of these LEDs around the globe.
Based on the product, the global thermally conductive plastics market is divided intoautomotive, electrical and electronics, healthcare, aerospace, industrial and others. Among this electrical and electronics has the highest market share owing to rising demand in the electronics and electrical component manufacturingwith growing sale in developing countries.
For instance, as per the India Brand Equity Foundation Organization in 2019, the consumer electronics and appliences sale reached to aroundUS$ 10.93 billion and is projected to reach around US$ 21 billion by 2025 in India. It created massive demand for the thermally conductive plastics require to manufacture electronics components.
Asia-Pacific region is dominating the global thermally conductive plastics market accounted for the largest market share in 2019, due to presence of several manufacturing companies related to automotives, electronics due to growing industrialization and rising investment by the leading playersin this region followed by North America and Europe.
Further increasing government and private companies investment in the Asia-Pacific region for several projects have propelled the demand for the thermally conductive plastics market in this region. Also China leads in Asia-Pacific region for the manufacturing and sale of the electric vehicles.
For instance, as per the International Energy Agency Organization report, in China around 45% of global electric cars on the road in 2018 that are total of 2.3 million compared to 39% in 2017. It crated massive demand for the thermally conductive plastics market in this region. As the thermally conductive plastics are widely used in headlamps and other electric vehicles parts.
Similarly, North America is also growing at fastest speed owing to presence of the presence of the advanced technology with growing building & infrastructure development projects.Further demand of this market in North America region is driven by rising aerospace and defense industry development and spending with surge in government support for research and development.
For instance, as Americal Aerospace Association report in 2019, the United State's Aerospace &Defense industry generated a positive net trade nearly US$ 90 billion with total export ammounted to around US$ 151 billion in 2018. It created massive demand for the thermally conductive plastics used in these industries.
The thermally conductive plastics markets moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Imerys, BASF SE, Dow, Kaneka Corporation, Celanese Corporation, SABIC, DSM, RTP Company, Ensinger, Toray Industries, Mitsubishi Engineering-Plastics Corporation, Lanxess, HELLA GmbH & Co, Covestro AG and among others.
The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, which are contributing to the growth of the Thermally Conductive Plastics Market globally. For instance, on 19th June 2020, Hella And Minth established a new joint venture to meet increasing demand for radar-transparent covers (radomes) and illuminated logos in China.
The global thermally conductive plastics market report would provide an access to an approx. 62 market data table, 51 figures and 230 pages.
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