USD 13.9 billion
Thermally Conductive Plastics Market Size, Share, Growth Analysis, By Type(Polyamide (PA), Polyphenylene Sulfide (PPS), Polycarbonate (PC), Polyetherimide (PEI) and Others.), By Application(Electrical and Electronics, Automotive, Industrial, Aerospace), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2331 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
75
Thermally Conductive Plastics Market Insights
Thermally Conductive Plastics Market size was valued at USD 13.9 billion in 2021 and is poised to grow from USD 15.68 billion in 2022 to USD 41.1 billion by 2030, growing at a CAGR of 12.8% in the forecast period (2023-2030).
The global thermally conductive plastics market has witnessed significant growth in recent years, driven by the increasing demand for lightweight and efficient heat management solutions across various industries. With the continuous miniaturisation of electronic devices and the increasing power densities in electronic components, efficient heat dissipation has become crucial to ensure optimal performance and reliability. Thermally conductive plastics offer advantages such as lightweight, design flexibility, and electrical insulation, making them an attractive choice for heat sinks, LED lighting, automotive electronics, and other electronic applications. Another significant factor driving market growth is the increasing adoption of electric vehicles (EVs) and the growing emphasis on improving their thermal management systems. EVs generate significant amounts of heat, which need to be effectively managed to ensure battery safety, efficient operation, and extended lifespan. Thermally conductive plastics, with their ability to provide effective heat dissipation while reducing weight and improving design flexibility, are being increasingly used in EV battery cooling, power electronics, and other thermal management applications within the automotive industry. Moreover, the demand for thermally conductive plastics is also being propelled by the need for energy-efficient solutions in various sectors such as aerospace, industrial, and consumer goods.
US Thermally Conductive Plastics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Polycarbonate
Fastest Growth
Polycarbonate
Growth Rate
12.8% CAGR
Global Thermally Conductive Plastics Market By Country ($ Bn)
Country Share for Asia - Pacific Region (%)
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Thermally Conductive Plastics Market Segmental Analysis
The global thermally conductive plastics market is segmented in terms of type, application, and region. Based on type, the market can be segmented into Polyamide (PA), Polyphenylene Sulfide (PPS), Polycarbonate (PC), Polyetherimide (PEI) and Others. Based on application, the market is segmented into Electrical and Electronics, Automotive, Industrial, Aerospace and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Thermally Conductive Plastics Market Analysis by Type
Among the types mentioned in the global thermally conductive plastics market, the dominant type is Polycarbonate (PC). Polycarbonate offers excellent thermal conductivity properties along with high impact resistance and transparency, making it a preferred choice in various industries such as electronics, automotive, and aerospace.
On the other hand, the fastest growing type in the global thermally conductive plastics market is Polyetherimide (PEI). Polyetherimide exhibits exceptional thermal stability, flame resistance, and high strength, making it suitable for demanding applications in industries like electronics, automotive, and aerospace. The increasing demand for lightweight and high-performance materials in these industries is driving the growth of Polyetherimide in the thermally conductive plastics market.
Thermally Conductive Plastics Market Analysis by Application
In the global thermally conductive plastics market, among the various applications such as Electrical and Electronics, Automotive, Industrial, Aerospace, and Others. The dominant application is the Electrical and Electronics sector. This sector has a significant demand for thermally conductive plastics due to their ability to dissipate heat effectively in electronic devices and components. With the increasing adoption of advanced electronic devices, including smartphones, tablets, laptops, and LED lighting, the demand for thermally conductive plastics in the Electrical and Electronics industry is expected to remain high.
On the other hand, the fastest-growing application in the global thermally conductive plastics market is the Automotive sector. Automotive manufacturers are increasingly incorporating thermally conductive plastics in various components and systems to address the thermal management challenges in vehicles. These plastics are used in applications such as LED headlights, engine cooling systems, battery management systems, electric vehicle (EV) charging infrastructure, and power electronics. The growing trend toward electric and hybrid vehicles, coupled with the need for efficient heat dissipation in advanced automotive systems, is driving the demand for thermally conductive plastics in the Automotive sector.
Global Thermally Conductive Plastics Market By Type
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Thermally Conductive Plastics Market Regional Insights
Asia-Pacific holds the dominant share in the market due to factors such as rapid industrialization, a thriving manufacturing sector, and the presence of key automotive and electronics industries. Countries like China, Japan, South Korea, and India are major contributors to the demand for thermally conductive plastics in the region. The increasing adoption of thermally conductive plastics in various applications, including electrical and electronic components, automotive parts, and consumer goods, drives the dominance of Asia-Pacific in the global market.
North America is expected to witness rapid growth in the global thermally conductive plastics market during the forecast period. The region has a strong presence of key industries such as electronics, automotive, aerospace, and healthcare, which are increasingly adopting thermally conductive plastics for their unique thermal management properties. The growing demand for lightweight and energy-efficient products, coupled with the need for effective heat dissipation, is driving the market growth in North America. Additionally, the region has a robust research and development landscape, leading to continuous advancements and innovations in thermally conductive plastics, further fueling the market growth.
Global Thermally Conductive Plastics Market By Geography
- Largest
- Fastest
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Thermally Conductive Plastics Market Dynamics
Thermally Conductive Plastics Market Drivers
Replacement of Traditional Materials
- Thermally conductive plastics are increasingly being adopted as substitutes for traditional materials such as metals and ceramics. Their lightweight nature, cost-effectiveness, and ease of processing make them attractive alternatives. These plastics offer comparable thermal conductivity while providing the added benefits of design flexibility and reduced overall weight in a wide range of applications. This trend promotes their growing utilisation and market demand.
Thermally Conductive Plastics Market Restraints
Material Compatibility and Performance Limitations
- However, the compatibility of thermally conductive plastics with specific chemicals, operating temperatures, and environmental conditions can pose limitations. Some thermally conductive plastics may exhibit performance constraints when exposed to extreme temperature ranges or harsh chemicals. These limitations can affect their overall performance and suitability for certain applications, thereby presenting a restraint in their widespread use.
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Thermally Conductive Plastics Market Competitive Landscape
The global thermally conductive plastics market is experiencing significant growth and an evolving competitive landscape. Thermally conductive plastics are composite materials that possess both the properties of plastics and the ability to conduct heat efficiently. These materials find widespread applications in various industries, including electronics, automotive, aerospace, and consumer goods. The market is characterised by intense competition among key players, as well as the presence of numerous small and medium-sized enterprises. The competitive landscape is driven by factors such as technological advancements, product innovation, strategic collaborations, and market expansion initiatives.
Thermally Conductive Plastics Market Top Player’s Company Profiles
- SABIC (Saudi Arabia)
- Mitsubishi Engineering-Plastics Corporation (Japan)
- RTP Company (US)
- Covestro AG (Germany)
- Ensinger GmbH (Germany)
- PolyOne Corporation (US)
- Solvay SA (Belgium)
- Lehmann & Voss & Co. KG (Germany)
- Evonik Industries AG (Germany)
- RTP Company (US)
- Kaneka Corporation (Japan)
- Toray Industries, Inc. (Japan)
- Asahi Kasei Corporation (Japan)
- LANXESS AG (Germany)
- Polyplastics Co., Ltd. (Japan)
- SABIC Innovative Plastics Holding BV (Netherlands)
- Plasti Concentrates Inc. (US)
Thermally Conductive Plastics Market Recent Developments
- In March 2023,Laird PLC launched a new thermally conductive plastic product for electronics applications.
- In February 2023, 3M Company acquired a company that specialises in thermally conductive plastics.
- In January 2023, DowDuPont announced a new partnership with a company that develops thermally conductive plastics.
- In December 2022, Rogers Corporation launched a new line of thermally conductive plastics for automotive applications.
- In November 2022, Aavid Thermalloy released a new thermally conductive plastic product for aerospace applications.
Thermally Conductive Plastics Key Market Trends
- Increasing demand for heat dissipation solutions: One significant market trend in the global thermally conductive plastics market is the increasing demand for heat dissipation solutions in various industries. Thermally conductive plastics are gaining traction as an alternative to traditional materials like metals in applications that require effective heat management. Industries such as automotive, electronics, aerospace, and consumer goods are increasingly utilising thermally conductive plastics to address the challenges associated with heat generation and dissipation. The growing demand for high-performance electronic devices, the miniaturisation of components, and the need for efficient thermal management in electric vehicles are driving the adoption of thermally conductive plastics. These advanced materials offer excellent thermal conductivity while also providing lightweight, corrosion resistance, design flexibility, and cost-effectiveness. As a result, the global thermally conductive plastics market is witnessing significant growth as industries seek innovative solutions to enhance heat dissipation in their products and systems.
Thermally Conductive Plastics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global thermally conductive plastics market analysis, the increasing demand for thermally conductive plastics in various industries such as electronics, automotive, aerospace, and healthcare are the primary growth drivers. Thermally conductive plastics are gaining traction as they offer excellent thermal management properties, replacing traditional materials like metals and ceramics. This shift towards thermally conductive plastics is driven by factors such as the need for lightweight materials, cost-effectiveness, and improved performance in heat dissipation. Factors such as the rising demand for electric vehicles, increasing electronic component miniaturisation, and the need for efficient heat management in electronic devices contribute to the market's expansion. Additionally, the report highlights the growing focus on renewable energy sources and the use of thermally conductive plastics in thermal management solutions for solar panels and wind turbines.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 13.9 billion |
| Market size value in 2031 | USD 41.1 billion |
| Growth Rate | 12.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermally Conductive Plastics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermally Conductive Plastics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermally Conductive Plastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermally Conductive Plastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermally Conductive Plastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermally Conductive Plastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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