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.
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