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
- Mobile Phone Bodies
- Appliances White Goods
Plastics in Consumer Electronics Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
- North America
- 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.
- Lotte Chemical Corp.
- LG Chem
- Mitsubishi Chemical Corp.
- SAMSUNG SDI Co., Ltd.
- Koninklijke DSM N.V.
- Qingdao Gon Science Technology Co., Ltd.
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