Market Synopsis
Thermally conductive plastics can conduct heat to meet the desired thermal requirements as per the end-use applications. Plastics are made thermally conductive by doping them with heat conducting additives. Several plastics are used as thermally conductive plastics including polyamide, polybutylene terephthalate, polycarbonate, polyetherimide, polyphenylene sulfide, polyether ether ketone, and polyether ketone .
Thermally conductive plastics enable efficient heating and cooling in the final product, thus eliminating the need for an active cooling system. This is expected to boost the growth of the thermally conductive plastics market. The global thermally conductive plastics market is likely to expand at a CAGR of ~13.5% during the forecast period, 2018–2025.
The electrical and electronics segment is likely to witness remarkable growth in the market owing to the increasing demand for technologically more advanced electronic products capable of delivering better performance . The growing demand for thermally conductive plastics in various applications including heat sinks for LEDs, heat exchangers, battery housings, and temperature sensors is projected to promote the growth of the electrical and electronics industry further during the assessment period.
The Asia Pacific market is likely to grow at the fastest CAGR in the coming years owing to the rapid growth of the electrical and electronics industry in the region. The rapidly increasing use of thermally conductive plastics in automotive components and industrial equipment to reduce weight and improve performance is likely to propel the growth of the market. Additionally, the growing demand for thermally conductive plastics in medical diagnostic devices to protect them from electromagnetic and radio frequency interference (EMI/RFI) is projected to provide an impetus to the market.
Intended Audience
- Electrical and electronics companies
- Research institutes
- Manufacturers of thermally conductive plastics
Market Dynamics
The numerous benefits offered by thermally conductive plastics such as enhanced flexibility in material choice and improved component life along with improved safety and reliability are expected to drive the growth of the thermally conductive plastics market during the forecast period, 2018–2025.
Increasing efforts to replace metal by plastics that can withstand high operating temperature and achieve specific thermal conductivity values for several end-use applications such as automotive and aircraft parts and industrial machinery are projected to propel the growth of the thermally conductive plastics market further.
The increasing need for higher thermal conductivity in several end-use applications including aircraft components, medical devices, and healthcare diagnostic equipment is likely to boost the growth of the market in the years to come.
Market Segmentation
The global thermally conductive plastics market is segmented by resin type, application, and geography.
On the basis of the resin type, the market is segmented into polyamide, polyester, polycarbonate, polyetherimide and polyphenylene sulfide.
On the basis of the application, the market is segmented into electrical and electronics, automotive, healthcare, and others.
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Regional Analysis
By geography, the global thermally conductive plastics market is segmented into Asia Pacific, North America, Europe, Latin America and the Middle East & Africa (LAMEA).
Asia Pacific is projected to witness significant growth in the thermally conductive plastics market owing to the growing demand for smart electronic components. Additionally, increasing production volumes of vehicles in countries of Asia Pacific such as China, Japan, and South Korea is expected to fuel the growth of the thermally conductive plastics market in this region. Additionally, the growing urbanization and industrialization in the region are expected to affect the growth of the market positively during the forecast period.
Europe and North America are expected to experience considerable growth in the thermally conductive plastics market. This is attributed to the increasing research and development activities being carried out in the field of thermally conductive plastics and the remarkable growth of the automotive industry. The increasing number of healthcare facilities is expected to further promote the growth of the market in both the regions.
LAMEA are likely to witness a slow and steady growth in the thermally conductive plastics market owing to the slow pace of research and development activities in the field of thermally conductive plastics in the region.
Prominent Players
Some of the prominent players in the global thermally conductive plastics market are Celanese Corporation, Polyone Corporation, DSM, SABIC, Exxon Mobil Corporation, Covestro AG, RTP Company, and DowDupont.
Recent Developments
Expansion of production facilities, new product developments, mergers & acquisitions, joint ventures, technological partnerships, and geographical expansions are some of the leading strategies being adopted by the key industry players in the thermally conductive plastics market.
- Business Development through Technological Partnership
In February 2018, Polyone Corporation, a major manufacturer of thermally conductive plastics, signed a ten-year license agreement with Integral Technologies, Inc. As a part of this agreement, Integral Technologies, Inc. would act as a technology partner in co-operation with Polyone Corporation. ElectriPlast Technology is a conductive long fiber technology. ElectriPlast would be used to provide shielding for a few components used in the advanced driver-assist system (ADAS), which is one of the novel technologies in the automotive industry.
- Joint Venture
In May 2015, DSM, a key player in the thermally conductive plastics market entered into a joint venture with Zhejiang NHU Co., Ltd. to establish a new company, DSM NHU Engineering Plastics (Zhejiang) Co Ltd. The newly formed company would produce polyphenylene sulfide (PPS), a thermally conductive plastic, by utilizing the raw material from DSM and the compounding facility of Zhejiang NHU Co., Ltd.
- New Product Development
In May 2018, Covestro AG launched several new grades of conducting polycarbonate material under it’s Makrolon® TC polycarbonate portfolio. These newly launched grades offer several added advantages such as reduced cycle time, improved processability, and reduced energy consumption. Additionally, some of these grades can be processed by both injection molding and profile extrusion.
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Segmentation
By Resin Type
- Polyamide
- Polyester
- Polycarbonate
- Polyetherimide
- Polyphenylene Sulfide
By Application
- Electrical and Electronics
- Automotive
- Healthcare
- Others
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America Middle East and Africa (LAMEA)
- Brazil
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
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