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. 

Market Overview:

The rise in materials and chemicals companies’ deployment of digital technologies to enhance efficiency gains and increase reliability are the key factors stimulating materials and chemicals industry trends. The industry players are allocating huge budgets for advanced sensing and automation machines to enhanced optimization of operations.

Materials and chemicals are used across various end-use industries such as manufacturing, medical pharmaceutical, automotive, food tech, among others. New product launches, technological advancements, growing consumer demand variety in daily use items, and increasing automation in the industry will accrue to major revenue gains in the coming years. Also, increasing consumer awareness regarding energy-efficiency and associated demand for sustainable products will boost market growth during the forecast period.

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New product developments, expansions, acquisitions and agreements, collaborations and partnerships were the major growth strategies that market players adopted to increase their regional presence and meet the growing demand for TCPs in emerging economies

The key players in the TCPs market are 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) and others.

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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Segments covered in the report:

This report forecasts volume and revenue growth at a global, regional country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Reports and Data have segmented the market on the basis of type, carbon based solutions, application, end-user and regional analysis.

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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Region (Thousand, Units and Revenue, USD Million; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East Africa

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