The Thermally Conductive Plastics (TCPs) Market is forecasted to grow from USD 174.4 Million in 2018 to USD 381.4 Million by 2028, at a CAGR of 7.8%, during the forecast period. Increasing demand for plastics in the manufacture of LED lights, lightweight heat sinks, electric vehicles, medical devices, and lightweight automotive vehicles is driving market growth.
Due to the strong presence of thermally conductive plastic manufacturers in the region, North America has a significant share in the market. Similarly, in the forecast period, Latin America and Europe are also emerging regions and are expected to experience remarkable growth, during the forecast period.
Top Companies Operating in the Global Thermally Conductive Plastics Market:
Celanese Corporation (US), PolyOne Corp. (US), RTP Company (US), SABIC (Saudi Arabia), Toray Industries (Japan), Royal DSM N.V. (Netherlands), Kaneka Corp. (Japan), and Mitsubishi Engineering Plastics Corp. (Japan)
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Further key findings from the report suggest
- The Thermally Conductive Plastics (TCPs) Market is forecasted to grow from USD 174.4 Million in 2018 to USD 381.4 Million by 2028, at a CAGR of 7.8%, during the forecast period. Increasing demand for plastics in the manufacture of LED lights, lightweight heat sinks, electric vehicles, medical devices, and lightweight automotive vehicles is driving market growth.
- The market for electrical electronics is expected to grow the largest at USD 84.4 Million in 2028, at a CAGR of 8.3% during the forecast period. TCPs are used in connectors, mounting devices, heat sinks, cooling parts, interface materials, enclosures, and cooling systems. The global market for thermally conductive plastics is driven by the increased demand for smart systems in end-user industries such as electrical and electronics and automotive. Rising preference of the global consumer to light-weight products is also stimulating growth for the market.
- The market for lightning systems, by application, will hold largest market and is expected to reach USD 157.2 Million in 2028, at a CAGR of 8.7%. The worldwide market is driven by increasing demand for smart street lighting solutions. Other factors, such as the development of new wireless technology and the growing need for energy efficiency, also contributed to market growth.
- The market for Polyamide, by type, will hold largest market and is expected to reach USD 67.2 Million in 2028, at a CAGR of 8.8%, during the forecast period. Because of its superior properties such as impact resistance, high temperature resistance, abrasion resistance, excellent balance of strength, resistance to bases and heat conductivity, polyamide rapidly replaces metals in various applications.
- The market for Asia Pacific (APAC) is expected to reach USD 101.1 Million in 2028, at the highest CAGR of 8.6%, during the forecast period. Because of high disposable income and rising living standards in the region, demand for smart electronics and electric vehicles is expected to increase over the forecast period.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Thermally Conductive Plastics Market Segmentation
Type (Revenue, USD Million; 2018-2028)
- Polyamide (PA)
- Polybutylene terephthalate (PBT)
- Polycarbonate (PC)
- Polyetherimide (PEI)
- Liquid Crystal Polymer
- Thermoplastic Polymer
- Polyphenylene sulfide (PPS)
- Others
Carbon based solutions (Revenue, USD Million; 2018-2028)
- Natural Graphite powders
- Synthetic Graphite powders
- Conductive carbon blacks
- Silicon-carbon composites
- Water dispersions
- Others
Application (Revenue, USD Million; 2018-2028)
- Lighting Systems
- Battery Modules
- Others
End-Users (Revenue, USD Million; 2018-2028)
- Electrical electronics
- Automotive
- Industrial
- Healthcare
- Aerospace
- Others
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