Conductive Plastic Compounds Market Forecasts to 2028 – Global Analysis By Resin Type (Polypropylene, Engineering Plastics, Polyethylene, Polystyrene, Polyvinyl Chloride and Other Resin Types), Filler Type (Carbon Fibers, Carbon Nanotubes, Carbon Black, Metals and Other Filler Types), End User and By Geography
According to Stratistics MRC, the Global Conductive Plastic Compounds Market is accounted for $12.4 billion in 2022 and is expected to reach $25.71 billion by 2028 growing at a CAGR of 12.92% during the forecast period. Conductive plastic compounds are materials that conduct electricity and heat. They can be extruded or injection molded into desired shapes and sizes. These compounds are used to control static electricity in several applications. Conductive plastic compounds can be used to provide electromagnetic shielding of electronic circuits. They are used in construction, automotive, electrical and electronics sectors. They are also tapping into the lightweight and high-performance materials.
Market Dynamics:
Driver:
Increase in Demand for Engineering Plastics
Surge in demand for engineering plastics can be ascribed to their superior performance characteristics in various applications across several end-use industries such as electrical & electronics, medical devices, consumer goods, and automotive. The engineering plastics segment is expected to continue its dominance during the forecast period.
Restraint:
High-cost fluctuations of crude oil and petrochemicals
The conductive plastic compounds market is expected to be hampered by price fluctuations in petrochemicals over the projected period. The price of conductive plastic compounds is affected by changes in crude oil prices. It has an impact on the use of conductive polymeric compounds as well. Price fluctuations in petrochemicals also affect their bio-based competitors.
Opportunity:
Growth in electronics
Plastic conductive compounds offer reliable and cost-effective solutions for applications that require electrostatic discharge control, explosive atmospheres, and electromagnetic interference shielding. It includes metal replacement, detection sensors, heating elements, air cleaning systems, dust suppression, and prevention of electrostatic attraction. Expansion of the electrical & electronics sector is driving the market growth.
Threat:
Lack of long-term performance data
The conductive compounds have virtually no free electrons available for conduction mechanisms like metals. Plastics are poor heat conductors and their insulating capacity is measured by the thermal conductivity. Electrons and ions are absent here which makes to lose its strength over some time and that hinders the market growth.
Covid-19 Impact
COVID-19 has disrupted the global economy by halting the operations of industries. The supply chain disruption and lack of manpower have negatively impacted the growth of the global market. The pandemic anticipated to reduce the demand for the packaging industry, thereby decreasing the demand for conductive plastics.
The engineering plastics segment is expected to be the largest during the forecast period
The engineering plastics segment is estimated to have a lucrative growth, due to its exceptional physical qualities, which enhance its performance in a variety of automotive, electronics, industrial, medical, and consumer goods applications. It offers excellent machinability, dimensional stability and good chemical resistance. The better thermal properties are propelling the market growth.
The electronics segment is expected to have the highest CAGR during the forecast period
The electronics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to a variety of factors including increased usage of electronic devices in daily life, shorter product life cycles, and technological improvements in a variety of industries, including consumer, industrial, and automotive electronics. An increase in the production of such high-quality electronic components is projected to increase the demand for plastic compounds.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to a large number of domestic and international electronic component manufacturers. Adoption of conductive plastic compounds is high in due to growth of the electronics sector in the region. This region is one of the largest producers of conductive plastic compounds and home to many manufacturers.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increase in integration of power electronic systems, infotainment, electric power steering, seat control, keyless entry, braking systems, and HEV battery charging in vehicles which is boosting the demand for conductive plastic compounds in the region. This region is notable as a hub for leading vehicle manufacturers including Audi, BMW, Mercedes-Benz, Opel, Volkswagen, and Porsche.
Key players in the market
Some of the key players profiled in the Conductive Plastic Compounds market include RTP Company, Royal DSM, Celanese, DuPont, Adell Plastics, BASF SE, Mexichem Specialty Compounds, SABIC, Adell Plastics, Lyondell Basell Industries, Coperion GmbH, Ravago, Sojitz Corporation, The Dow Chemical Company, Ineos Group AG, Polyvisions Inc, Bayer Material Science, Repsol SA, ENI S.P, Total SA, Premix Inc
Key Developments:
In May 2022, Premix Inc., the U.S.-based subsidiary of Premix Oy, was awarded a US$ 79.9 Mn contract by the U.S. Department of Defense, on behalf of and in coordination with the Department of Health and Human Services. The contract was awarded to build a plastic compound manufacturing plant in North Carolina for pipette tips, which are essential for COVID-19 and other diagnostic testing efforts.
In June 2021, Sojitz Corporation acquired a stake in 2D Materials Pte. Ltd., a Singapore-based company engaged in the manufacturing and sale of graphene. Sojitz entered into the next-generation technology and new materials field through this partnership.
Resin Types Covered:
• Polypropylene
• Engineering Plastics
• Polyethylene
• Polystyrene
• Polyvinyl Chloride
• Other Resin Types
Filler Types Covered:
• Carbon Fibers
• Carbon Nanotubes
• Carbon Black
• Metals
• Other Filler Types
End Users Covered:
• Electronics
• Construction
• Automotive
• Packaging
• Medical Devices
• Industrial Machinery
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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