The global electronics and consumer goods plastics market is
expected to reach USD 53.5 billion by 2025, according to a new report by Grand
View Research, Inc. Growing demand for plastics in consumer gadgets
manufacturing owing to their lightweight, low cost and superior impact and
corrosion resistance is expected to propel growth.
The major industry
players including BASF SE, Bayer AG, DuPont, and Exxon Mobil Corporation, are
engaged in manufacturing raw materials as well as plastics for end-use
applications. Whereas, the players including LG Group and Honeywell are
integrated across the complete value chain from the raw material supply to the
production of consumer goods.
Rising consumer demand
for environmental friendly plastics is expected to compel the manufacturers to
divert their focus to the production of bio-based and degradable product over
the forecast period. The companies in the electronics and consumer goods
plastics industry are expected to establish strategic partnerships with end-use
industries to maintain their customer base and the foothold in the market.
Increasing raw material
prices and strong foothold of the existing players in the market are expected
to be the key factors challenging the entry of new players. Growing concerns
towards e-waste management coupled with stringent government regulatory
framework for plastic waste disposal is likely to hamper product demand over
the projected period.
Access Research Report
of Electronics & Consumer Goods Plastics Market @ http://www.grandviewresearch.com/industry-analysis/electronics-consumer-goods-plastics-market
Further key findings from the report suggest:
· The demand in consumer electronics industry
is expected to grow at a CAGR of 6.9%, owing to the increasing plastic usage
for manufacturing for manufacturing electronic gadgets such as smartphones,
laptops, CD players, TVs and computers
· Household appliances accounted for 23.9% of
the total revenue generated by the industry and is expected to grow on account
of increasing demand for product for manufacturing structures and bodies of
washing equipment, refrigerators, and air conditioners
· The demand for plastics in winter sports
was valued at USD 1.62 billion in 2016 and is expected to grow on account of
rising product penetration to replace traditional wood and metal sports
equipment to gain superior performance, durability, and lightweight
· Asia-Pacific was the largest market,
accounting for 37.9% of the overall demand, owing to robust growth of end-use
industries including consumer electronics, appliances, sporting goods, and
toys, especially in China, Japan, and India
· Rapid growth of electronics industry in
Mexico owing to high investments, low manufacturing cost and increasing exports
by the country in the international market is expected to drive demand for
plastics in the North America
· In July 2015, Sharp Corporation launched
Aquos Crystal, a new smartphone which uses bio-based engineering plastic for
manufacturing its front panel. The bio-based plastic, Durabio, employed for
this purpose was developed by the Mitsubishi Chemical and offers high heat,
weather, and impact resistance
Grand View Research has
segmented the global electronics and consumer goods market on the basis of
application and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
·
Household appliances
·
Consumer Small Appliances
·
Consumer Electronics
·
Lighting equipment
·
Toys
·
Winter Sports
·
Sport Shoes
·
Jewelry
Regional Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
