Thermally Conductive Polymers Market, By Product Type (Polyphenylene Sulfide (PPS), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Polyethylenimine (PEI), Polysulfone (PSU), Polyether Ether Ketone (PEEK), Polyolefin, Epoxy, Silicone, Polyurethane, and Others), By Filler Type (Ceramics, Carbon-based, and Others), By End-use Industry (Electrical & Electronics, Aerospace & Defense, Automotive, Industrial, and Healthcare), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Thermally conductive polymers are used as an alternative for metals and ceramics in heat-sensitive applications. They find application in various end-use industries such as electronics, automotive, aerospace & defense, and medicine. Key players in the market are adopting different business strategies such as mergers and acquisitions to expand their global footprint. For instance, in January 2019, Celanese Corporation, a chemical and specialty materials company, announced that it has completed the acquisition of Next Polymers Ltd., one of India’s largest engineering thermoplastics (ETP) compounders. This acquisition is expected to complement Celanese Corporation’s rapidly growing Indian business of ETP.
Market Dynamics
Among the end-use industry, electrical & electronics segment is expected to witness significant growth in the market over the forecast period. The growing consumer electronics industry, new product launches, and the introduction of cutting-edge technologies is driving growth of the segment in the thermally conductive polymers market. For instance, according to the Consumer Technology Association (CTA), consumer electronics market in the U.S. reached around US$ 377 billion in 2018, with a 6% increase compared to 2017.
North America held a significant market share of 43.8% in 2022 due to the increasing need for heat dissipation in various end-use industries such as electrical & electronics, aerospace & defense, and automotive. Moreover, increasing demand for high-performance and lightweight products is driving the growth of the market for thermally conductive polymers in the region.
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