Global thermally conductive plastics market to expand with 13% CAGR through 2026

May 08, 2020

As per the report titled ‘Global Thermally Conductive Plastics Market Size study, by Type (Polyamide, Polycarbonate, Polyphenylene Sulphide, Polybutylene Terephthalate, Polyetherimide, Others), by End-Use Industry (Electrical & Electronics, Automotive, Industrial, Healthcare, Aerospace, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global thermally conductive plastics market was worth USD 174 million in 2018 and is projected to grow with a CAGR of 13% during 2019-2026.

Inclination towards better thermal management in electrical and electronics devices, along with demand for lightweight vehicles are fostering the growth of thermally conductive plastics industry. Properties such as resistance to high temperatures, impact, abrasion, and bases, as well as exceptional balance of strength are favoring the product use in a wide range of applications.

Widespread adoption of these plastics for the production of lightweight heat sinks, electric vehicles, lightweight automotive vehicles, LED lights, and medical devices is driving the global thermally conductive plastics market. Amplified growth of construction sector and increasing sales of vehicles will expand the business landscape in the coming years. However, high cost and complexities associated with production of thermally conductive plastics will hinder the product demand during the forecast period.

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Considering the regional outlook, global thermally conductive plastics market is divided into North America, Asia Pacific, Europe, Latin America and Rest of the World. North America dominated the global market in the recent past owing to strong presence of major manufacturers in the region.

Meanwhile, Asia Pacific thermally conductive plastics market is anticipated to expand at a rapid pace over the forecast duration. Soaring demand for smart electronics and personal vehicles along with a well-established electronics sector are supporting the regional market growth.

Prominent industry players include E. I. Du Pont De Nemours and Company (Dupont), Saudi Basic Industries Corporation (SABIC), Celanese Corporation, Royal DSM N.V., Polyone Corporation, RTP Company, BASF SE, Ensinger GmbH, Covestro AG (Bayer Materialscience), and Kaneka Corporation.

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