Plastics In Consumer Electronics Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Plastics play a crucial role in the consumer Electronics industry, serving a range of tasks in the design, functionality, and production of electronic devices. Plastics have a high purity level. Pure polymeric polymer compounds significantly reduce, if not eliminate, the chance of contamination, helping to provide the best quality electronics and microchips.
The plastics in consumer electronics market share is increasing because of population expansion and growing demand for consumer products. The expanding middle class, cheap plastics costs, and the availability of multiple competitors all contribute to the expansion of the electronics and consumer goods plastics sector. The global plastics in consumer electronics industry report provides in-depth industry analysis. The study thoroughly analyses important segments, trends, drivers, restraints, the competitive landscape, and market-significant variables.
Market Dynamics
Growing Demand for Light Weight Design Propels Market Growth
Consumer electronics like smartphones, computers, and tablets are portable. Plastics are lightweight and can provide portability without adding weight to gadgets. This is important because consumers want sleek, portable electronics. IDC predicts 1.24 billion smartphone shipments in 2022. This shows the demand for lightweight, portable consumer gadgets like cell phones. Apple's MacBook Air is elegant and lightweight due to aluminum and plastics. Consumers like this design. E-readers like the Amazon Kindle use plastics to make lightweight, ergonomic devices that may be held for long periods. The Kindle Paperwhite's small, lightweight design shows how polymers make reading comfortable and portable. Plastics in the consumer electronics market trend are expected to change due to these factors.
Growing Adoption of Sustainable Plastics Creates Tremendous Opportunities
Demand for recycled or biodegradable polymers is rising due to environmental awareness. Manufacturers can earn by using eco-friendly plastics in their electronics. Computer technology giant Dell offers a sustainability campaign called "Dell Ocean-Bound Plastics." This program recycles river plastic to prevent it from polluting marine environments. Dell uses recovered coastal plastics to make laptops, displays, and other electronics. Sustainable polymers in consumer electronics address environmental challenges and consumer demand for eco-friendly products. This potential allows manufacturers to boost their brand image, meet regulatory requirements, and attract a growing market of environmentally concerned consumers.
Regional Insights
Asia-Pacific dominates the global
plastics in consumer electronics market. China led Asia-Pacific in tonnage and revenue in 2023. Bio-based polycarbonate adoption by consumer electronics companies drove the Asia Pacific consumer electronics plastics industry. China's largest consumer electronics companies include Haier, Hisense, Huawei, Lenovo Group Ltd., Sharp Corp., Xiaomi, and Guangdong Oppo Mobile Telecommunications Corp., Ltd. A.C. units and T.V. frames are made from non-conductive plastics. PC/ABS blends manufacture phones, keyboards, screens, and computer housings; P.A. makes food processor bearings and adaptors; and P.C. makes phones. Consumer electronics demand will likely drive the regional plastics market.
North America is projected to have one of the fastest-growing electronic plastic markets. Toys, jewelry, and other consumer goods made from rubber, glass, and wood have increased plastic demand in electronics. Phones like the iPhone and Samsung Galaxy series have polycarbonate, PC/ABS, or glass-filled resin shells. These durable materials are slim and attractive. PLASTICS predicts $468.0 billion in U.S. plastics shipments in 2021. These plastics are used in consumer electronics and other sectors. The Plastics Industry Association notes that plastics are utilized in the automotive, electronics, and packaging industries and will increase as material technology improves.
Key Highlights

The global plastics in consumer electronics market size was valued at
USD 5.9 billion in 2022 and
is projected to reach
USD 8.39 billion by 2031, registering a
CAGR of 4.5%
during the forecast period (2023-2031).
Polycarbonate (P.C.), Liquid Crystal Polymer (LCP), Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin, Bio-based Polycarbonate, Thermoplastic Elastomers (TPE), and Polyamide (P.A.) are the product segments. Polycarbonate (P.C.) dominates the market.
By application, the category can be divided into television frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances, and white goods. Laptop monitor enclosures dominate the majority of the market.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific dominates the market with a CAGR of 5.4% during the forecast period.

Competitive Landscape
The key players in the global Plastics in Consumer Electronics market are Trinseo S.A., Covestro AG, Celanese Corp., SABIC, Lotte Chemical Corp., L.G. Chem, Mitsubishi Chemical Corp., SAMSUNG SDI Co., Ltd., Koninklijke DSM N.V., and Qingdao Gon Science & Technology Co., Ltd.
Market News

In June 2023, Trinseo (NYSE: TSE), a supplier of specialty materials solutions, is releasing INDUROTM, a highly developed continuous cast acrylic capped sheet created specifically as a more durable material substitute for external panels in recreational and other mobility vehicles.
In September 2023, Covestro Huafeng and Cyclone collaborated to develop more environmentally friendly sports equipment.
In August 2023, SABIC's STAMAXTM RESIN was validated for thermal runaway protection.

Global Plastics in Consumer Electronics Market: Segmentation
By Product

Polycarbonate (P.C.)
Liquid Crystal Polymer (LCP)
Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin
Bio-based Polycarbonate
Thermoplastic Elastomers (TPE)
Polyamide (P.A.)

By Application

V. Frames
Laptop Monitor Enclosures
LCD Panels
Portable Hand-held Devices
Wearables
Mobile Phone Bodies
Appliances and White Goods
Others

By Region

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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