Market Size, Material, and End Use Industry 2022-2029 – Maximize Market Research
Pune, Dec 15 2022: Maximize Market Research has published a report on the Thermally Conductive Plastics Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the report, Thermally Conductive Plastics Market was valued at USD 122.45 Million in 2021, and it is expected to reach USD 407.57 Million by 2029, exhibiting a CAGR of 16.22% during the forecast period (2022-2029)
Thermally Conductive Plastics Market Research Methodology:
The research methodology used to estimate and forecast the Thermally Conductive Plastics market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Thermally Conductive Plastics adoption rate and Thermally Conductive Plastics pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.
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Thermally Conductive Plastics Market Overview:
Plastics with heat conductivity are known as thermally conductive plastics. The capacity of a material to carry or transport heat is known as thermal conductivity. Engineering plastics are excellent thermal insulators, and because of their widespread use, adding thermal conductivity makes them useful in a variety of appliances. Because of their low cost and versatility, they are replacing metals, ceramics, and other plastics in a wide range of applications.
Thermally Conductive Plastics Market Dynamics:
The electrical and electronic industries’ growing demand for thermally conductive plastics in both developed and emerging economies is what is driving the market’s growth rate. The market’s growth rate will also be directly and favourably impacted by expanding uses for thermally conductive plastics, such as in lighting systems, and by the development and expansion of numerous end user sectors, particularly in developing economies. The ease of customization and design flexibility, the growing demand for lightweight components in industrial applications, the increased focus on technological developments, and the modernization of production procedures will all contribute to the market’s growth. However, a major obstacle to the market’s expansion will be the deficiency in raw material demand and supply due to the tightness and volatility in their pricing. The government’s strict environmental pollution restrictions and high expenses connected with research and development will slow the market’s rate of growth. The widespread availability of alternatives will also slow the market’s rate of growth.
Thermally Conductive Plastics Market Regional Insights:
Geographically, In 2021, Asia Pacific had the biggest Conductive Plastics Market share of 32.4%. Increasing government and private sector investment in the Asia-Pacific area for a variety of projects has fueled demand for thermally conductive polymers in this region. In addition, China dominates the Asia-Pacific area in electric car manufacture and sales. For example, in China, around 45% of worldwide electric automobiles on the road in 2018 totalled 2.3 million, up from 39% in 2017. It resulted in a surge in demand for the thermally conductive polymers industry in this region.
Thermally Conductive Plastics Market Segmentation:
- Electrical & Electronics
Based on End-user industry, The automotive industry is being pushed by the development of hybrid electric vehicles (HEV) and electric vehicles (EV), which is expected to increase demand for thermally conductive polymers in automotive electronics. The substitution of mechanical components with thermally conductive designed plastics for automotive LED lighting systems is growing demand for thermally conductive polymers due to the design freedom of 3D components, weight reduction, and heat sinks. The automobile sector is the world’s largest consumer of thermally conductive polymers.
Thermally Conductive Plastics Market Key Competitors:
- Arkema Group
- Avient Corporation
- BASF SE – Celanese Corporation
- Compagnie de Saint-Gobain SA
- Covestro AG
- DuPont de Nemours, Inc
- Ensinger Gmbh
- Eurostar Engineering Plastics
- Exxon Mobil Corporation
- HELLA GmbH & Co. KGaA
- Imerys S.A.
- Kaneka Corporation
- Kenner Material & System Co. Ltd
- Lanxess AG
- Lehmann & Voss & Co
- Lotte Advanced Materials Co., Ltd
- Mitsubishi Engineering-Plastics Corp.
- Nytex Composite Co., Ltd
- Ovation Polymers Inc.
- Royal DSM N.V.
- RTP Company
- Saudi Basic Industries Corporation (SABIC)- Themix Plastics, Inc
- Toray Industries, Inc.
- Ugent Tech Sdn Bhd.
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Key Questions answered in the Thermally Conductive Plastics Market Report are:
- How is the competitive scenario of the Thermally Conductive Plastics Market?
- Which are the key factors aiding the Thermally Conductive Plastics Market growth?
- Which region is expected to hold the largest share in the Thermally Conductive Plastics Market?
- What will be the CAGR of the Thermally Conductive Plastics Market during the forecast period?
- Which are the prominent players in the Thermally Conductive Plastics Market?
- What key trends are likely to emerge in the Thermally Conductive Plastics Market in the during the forecast period?
- What is the expected Thermally Conductive Plastics Market size by 2029?
- Which company held the largest share in the Thermally Conductive Plastics Market?
- Which application segment emerged as the leading segment in the Thermally Conductive Plastics Market?
- Which product segment grabbed the largest share in the Thermally Conductive Plastics Market?
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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