Ease of customization and design flexibility is one the major driver for the growth of these plastics, as Thermally Conductive Plastics (TCPs) are comparatively lighter than other alternative materials such as metals and ceramics.
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The Global Thermally Conductive Plastics Market accounted for USD 135.4 million in 2016 and is projected to grow at a CAGR of 13.5% during the forecast period of 2017 to 2024.
More Over, TCPs are easy-to-handle, customize, and mold, and have higher scratch resistance, thermal stability, impact strength, and resistance to abrasions.
In addition to this, the development of smart electronics, and technological advancements in the automotive industry are also some of the major factors expected to drive the market.
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Thermally conductive plastics are manufactured using basic polymers, wherein the addition of fillers leads to conductive properties in plastics. Fillers such as graphite or carbon and metal powder are added to base polymers for the formation of thermally conductive plastics.
There is a growing demand for thermally conductive plastics in electrical & electronics, automotive, industrial, healthcare and aerospace activities, which is expected to be one of the major drivers of the market over the next seven years.
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The global thermally conductive plastic market is consolidated with the presence of a limited number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
On The Basis Of Type: - polyamide, polycarbonate, polyphenlene sulfide, polybutylene terephthalate and polyetherimide.
On The Basis Of End-User: - electrical & electronics, automotive, industrial, healthcare and aerospace.
On the basis of geography, the thermally conductive plastics market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Major Market Drivers and Restraint:
- Ease of customization and design flexibility
- Development of smart electronics
- Technological advancements in the automotive sector
- Lower thermal conductivity than traditional materials
- Environmental pollution and waste management regulations hindering growth
Major Market Competitors:
Some of the major players in thermally conductive plastics market include BASF SE, Celanese Corporation, Covestro AG, HELLA KGaA Hueck & Co., Kaneka Corporation, Kenner Material & System Co. Ltd., Koninklijke DSM N.V., LATI Industria Termoplastici S.p.A., Mitsubishi Engineering-Plastics Corporation, PolyOne Corporation, RTP Company, Saint-Gobain S.A., and Toray Industries, Inc.
and many more.
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