Global electronics & consumer goods plastics market is anticipated to reach over USD 59.9 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
The key findings of the global electronics & consumer goods plastics market study are enumerated below:
• Based on the application spectrum, the household appliances market segment led the worldwide market with respect to revenue, in the year 2017.
• In terms of regional distribution, the Asia-Pacific is predicted to be the major contributor to the worldwide market with respect to revenue over the estimated period.
According to the report, the global electronics & consumer goods plastics market is primarily driven by changing lifestyle patterns, substantial increment in disposable income, and efforts by market majors to provide innovative products. Other factors adding impetus to market growth include rising penetration of e-commerce platforms and increasing middle class population. Growing demand from emerging economies and technological enhancements are slated to offer abundant growth opportunities to industry contenders over the projected time slab. Of late, e-commerce sales have picked pace and consumers are increasingly buying electronics and consumer goods via online portals, which in turn bolsters the demand for plastics.
The report cites that rising income level has boosted the lifestyle of individuals in developing nations throughout Asia-Pacific, thus fueling electronics and consumer goods plastics market. Apart from this, factors like increment in per capita income as well as consumer behavior transformations are anticipated to offer significant momentum to the product adoption over the ensuing years.
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In terms of regional contribution, the Asia Pacific accrued the highest earnings in the global market in the year 2017 and is predicted to dominate the industry over the forecast timeframe. The findings of the report suggest that the burgeoning population base in the region, in consort with the rising disposable income propels the market growth. Also, the amplification in living standards in nations like India, Japan, and China further enhances the market growth.
The distinguished players profiled in the global electronic & consumer goods plastics market are Solvay S.A, Mitsubishi Chemical Holdings Corporation, Chevron Phillips Chemical, E. I. du Pont de Nemours and Company, Covestro AG, Formosa Plastics Group, Trinseo S.A., Celanese Corporation, The Dow Chemical Company, and BASF SE among others. These organizations introduce new products and join forces with other market majors to offer an unmatched product range that addresses consumer needs precisely and enhances their global stretch.
The report also provides significant insights pertaining to electronic & consumer goods plastics market drivers, restraints, and growth opportunities over the estimated period. A systematic analysis of the market in terms of Porter’s five forces, value chain, industry trends, ecosystem analysis, competitive ranking analysis, application landscape, type, regional distribution, and competitive outlook has also been summarized in the new study.