Aug 25, 2022   SOURCE: BusinessWire

The Worldwide Thermally Conductive Plastics Industry is Expected to Reach $298 Million by 2027 - ResearchAndMarkets.com

The "Thermally Conductive Plastics Market by Type (Polyamide, PBT, Polycarbonate, PPS, PEI, Polysulfones), End-use (Electrical & Electronics, Automotive, Industrial, Aerospace, Healthcare, Telecommunications) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global thermally conductive plastics market size is projected to grow from USD 121 million in 2021 to reach USD 298 million by 2027, at a CAGR of 16.2% between 2022 and 2027.

Rising demand for heat dissipation materials in LED lightings, increasing adoption of electric vehicles, and miniaturization of electronic components are key factors for the growth of thermally conductive plastics market. Deployment of telecommunication infrastructure and 5G communication devices will provide significant growth opportunities to thermally conductive plastics manufacturers. However, availability of conventional materials and low thermal conductivity of plastics is expected to limit the growth of the market.

In terms of value, PEI is the third fastest-growing type in the thermally conductive plastics, during the forecast period.

PEI, along with thermally conductive fillers, is a cost-effective solution due to lesser manufacturing steps and joints. Due to its creep resistance, low smoke emission, and flame resistance, the demand for PEI as a thermally conductive plastic has increased significantly. PEI has applications in jet engine components, medical devices, and electrical & electronics insulators owing to its extremely low smoke generation.

In terms of value, healthcare is estimated to be second fastest-growing segment in thermally conductive plastics market, by end-use industry, during the forecast period.

The developments in the surgical robot industry for critical surgeries such as neurosurgery and spinal surgery are expected to increase the demand for thermally conductive plastics in medical equipment. Thermally conductive plastics offer various advantages over conventional materials, such as electrostatic discharge (ESD) and radio frequency interference (RFI) shielding, which protect against electronic malfunction due to electromagnetic waves. The housing of critical components in medical equipment and heat sinks are a few applications of thermally conductive plastics in the healthcare industry.

Europe region accounted for the third-largest share in the thermally conductive plastics market by value.

The presence of diversified end-use industries, manufacturers, compounders, distributors, and technical service providers for polymer testing and analysis present growth opportunities for the market. Europe is considered an automotive hub, owing to the presence of established automobile manufacturers, such as Volkswagen, BMW, and Daimler. Development in material science, innovation, and high investment in R&D for automotive, industrial automation, energy, electronic lighting, and medical devices will drive the European market for thermally conductive plastics.

Market Dynamics

Drivers

  • Miniaturization of Electronic Components and Development of Power Electronics
  • Rising Demand for Lightweight and Customizable Parts in Automotive Industry
  • Advancements in E-Mobility and Telecommunications

Restraints

  • Lower Thermal Conductivity Than Traditional Metals
  • Sluggish Growth of Electronics Industry due to Geopolitical Uncertainties
  • Stringent Regulations on Plastic Recycling and Disposal to Increase Capital Expenditure for Manufacturers

Opportunities

  • Growing Demand for Heat Dissipation in Electronics, Automotive, and Telecommunications Industries
  • Replacing Conventional Plastics & Metals for Weight Reduction and Superior Thermal Management

Challenges

  • Fluctuating Crude Oil Prices to Impact Prices of Polymer Resin
  • High Production Cost and Complex Processing

Companies Mentioned

  • DSM
  • Sabic
  • Basf
  • Dupont
  • Avient Corporation
  • Kaneka Corporation
  • Witcom Engineering Plastics Bv
  • Xiamen Keyuan Plastic Co. Ltd.
  • Kenner Material & System Co. Ltd.
  • Ascend Performance Materials
  • Dongguan Ziitek Electronic Material and Technology Ltd.
  • Lotte Chemical
  • Ensinger
  • Coolmag Thermo Conductive, S.L.
  • Toray Industries, Inc.
  • Mitsubishi Engineering-Plastics Corporation
  • Radical Materials Ltd.
  • Sumitomo Bakelite Co. Ltd.
  • Lehmann&Voss&Co.
  • Lati Industria Termoplastici S.P.A.
  • Kraiburg Tpe GmbH & Co. KG
  • Covestro AG
  • Lanxess
  • Celanese Corporation
  • Ugent Tech Sdn Bhd.

For more information about this report visit https://www.researchandmarkets.com/r/5ectdi