Conductive Plastic Compounds Market
Conductive Plastic Compounds Market (Resin: Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Engineering Plastics, Thermoplastic Elastomers, Bio-plastics, and Others; Filler: Carbon Black, Carbon Fibers, Carbon Nanotubes, Metals, and Others; and End-use Industry: Automotive, Electrical & Electronics, Building & Construction, Packaging, Industrial Machinery, Medical Devices, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Conductive Plastic Compounds Market: Horizontal Opportunities Coming in from Numerous Industries
The conductive plastic compounds market is likely to grow 2X over the period of 2019-2027, and a significant share of this market value will arrive from the electronics industry. The recent trend - smart materials production, used for the manufacturing of artificial muscles as well as prostheses, is projected to strengthen revenue prospects from the electronics industry.
Besides this, the demand for conductive plastic compounds with better attributes is also found to drive advancements in filler material technology. As found by a recently published study by Transparency Market Research (TMR), among all the fillers, carbon nanotubes are anticipated to witness an exponential adoption rate on account of their property to enhance the electrical and conduction characteristics of conductive plastic compounds.
In the future, opportunities from packaging, construction, and automotive industries will further catapult the growth of the conductive plastic compounds market.
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How Players in Conductive Plastic Compounds Market Can Offset Key Challenges
In 2018, the European Commission announced a set of measures to tackle burning concerns regarding plastic waste, according to which, strict legislation is passed against single-use plastic. Following this regulation, even states in North America came forward to address this global crisis. California, New York, and numerous other states in the U.S. have imposed fines/ban on the use of plastic. In addition, Maine has a state-wide ban on single-use polystyrene containers.
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Since polymer-based conductive plastics hold a significant share of the total conductive plastics produced around the world, the environmentally-hazardous attributes of these compounds could instigate a shift towards their substitutes. Besides being hard on the environment, these compounds are also hard on the wallets, on account of fluctuations in the prices of petrochemicals that are used for the production of plastics.
It, therefore, becomes crucial for market players to learn about the environmental norms legislated in the targeted regions before expansion, and partner with raw material suppliers to avoid being a victim of frequent changes in raw material prices.
Key Winning Imperatives Adopted by Players in Conductive Plastic Compounds Market
To win in this moderately consolidated landscape, players in the conductive plastic compounds market rely on the expansion of their production facilities to cater to the local demand. A key player, RTP Company, illustrated the strategy. In March 2018, the company announced the expansion of its manufacturing facility in Poland, which is anticipated to address the regional demand for conductive plastic compounds in Europe.
Besides an increasing presence in domestic markets, inorganic growth strategies such as partnerships, acquisitions, and mergers are being leveraged by market players to establish their dominance in other regions. In addition, a custom-tailored product development approach remains an overall product-level strategy of manufacturers to have better shot at consolidation.
For instance, in October 2019, LyondellBasell Industries Holdings B.V. announced that, Shandong Chambroad Sinopoly New Materials Co., Ltd. has recognized the polypropylene technology of the company for a new facility. The company also offers a technical service program to its licensees, through which, these individuals can understand the process, proficiency, and benefits of the technology that is licensed. In a nutshell, the conductive plastic compounds market remains significantly driven by organic growth strategies.
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Analysts’ Take on Conductive Plastic Compounds Market
Authors of the TMR report foresee promising growth prospects for the conductive plastic compounds market, and anticipate a healthy CAGR of ~11% during the forecast period of 2019-2027. Asia Pacific will hold the status of an attractive region for investment, with China being the key consumer of conductive plastic compounds. The positive impact of the urban sprawl and rapid industrialization in developing countries of Asia Pacific are likely to show greater ascendancy in the demand for these compounds. To add to that, leniency in environment protection laws in the region, on account of which the production of plastic and its waste is not completely controlled, is yet another reason for the significant pace of expansion of the conductive plastic compounds market in the Asia Pacific region.
Conductive Plastic Compounds Market Description
- The global conductive plastic compounds market is expected to expand at a significant pace during the forecast period, driven by the increase in the production of electrical components and electronic devices. Conductive plastic compounds are compounds of organic polymers that conduct electricity. They are also referred to as intrinsically conducting polymer compounds.
- Conductive plastic compounds offer reliability and cost-effectiveness for applications that need electrostatic discharge control, explosive atmosphere, and electromagnetic interference shielding. These compounds are primarily employed in metal replacement solutions, detection sensors, heating elements, air cleaning systems, and dust suppression. They are also used to prevent electrostatic attraction.
- The global conductive plastic compounds market is projected to expand at a CAGR of ~11%, increasing from a value of ~US$ 8.5 Bn in 2018 to ~US$ 20.5 Bn by 2027.
Key Growth Drivers of Conductive Plastic Compounds Market
- The demand for conductive plastic compounds containing nano-fillers, such as carbon nanotubes, is high owing to their exceptional physical properties. Carbon nanotube-based conductive plastic compounds offer reliability for applications that need protection from electrostatic discharge, dissipation of static charges, and effective thermal management. Carbon nanotube-based conductive plastic compounds are primarily used in heat exchangers and fuel cells, owing to their electrical- and thermal-conducting properties. High usage of conductive plastic compounds in the electrical & electronics industry is likely to propel the global conductive plastic compounds market during the forecast period.
- Conductive plastic compounds are deployed in a wide range of antistatic and electromagnetic shielding applications. Thermally- and electrically-conductive plastic compounds are developed through the addition of common fillers such as carbon black, graphite, metallic fibers, flakes, or carbon fibers.
Major Challenges for Conductive Plastic Compounds Market
- Three basic ingredients or raw materials - polymers, additives, and fillers - are used in compounding. Polymers consist of polyamide (PA) compound, polycarbonate (PC) compound, polymethyl methacrylate (PMMA) compound, and many other polymers. The prices of plastic compounds have been rising gradually, primarily due to fluctuation in the prices of petrochemicals and high substitution potential from their bio-based counterparts.
- Oscillation in the prices of petrochemicals is estimated to hamper the conductive plastic compounds market during the forecast period. Fluctuation in the prices of crude oil impacts the prices of conductive plastic compounds. It also affects the usage of conductive plastic compounds.
Lucrative Opportunities for Global Conductive Plastic Compounds Market
- Advancements in filler material technology are estimated to influence the physical and chemical properties of conductive plastic compounds. Research programs and government initiatives on conductive plastic compounds are expected to encourage product development and manufacturing process development. Rise in the awareness about filler material technology and filler material application among electric and electronic component manufacturers is anticipated to boost the demand for conductive plastic compounds in the near future.
- Plastic compounders and plastic converters are carrying out product development through stable, resource-saving, and energy-efficient processes. Increase in product development programs among manufacturers of conductive plastic compounds and rise in research & patent activities regarding filler materials among institutes and universities are estimated to propel the global conductive plastic compounds market during the forecast period.
Asia Pacific to Dominate Conductive Plastic Compounds Market
- Asia Pacific is a significant region of the global conductive plastic compounds market, accounting for substantial market share. China is a major consumer of conductive plastic compounds in Asia Pacific, due to the high rate of adoption of conductive plastic compounds in electrical & electronics applications in the country. Furthermore, China is a leading producer of conductive plastic compounds in the region.
- The presence of large electrical and electronic component manufacturers and existence of various small domestic plastic compound manufacturers in the region is anticipated to drive the conductive plastic compounds market in Asia Pacific.
- Relocation of manufacturing capacities of electrical components and electronic devices from the western hemisphere to East Asia is estimated to boost the demand for conductive plastic compounds in the near future. Plastic compounders in Asia Pacific are expanding their production facilities to meet the rising demand for conductive plastic compounds in several end-use industries in the region.
- Rapid industrialization and expansion of electrical & electronic component manufacturing plants in India, South Korea, Thailand, and Vietnam are projected to propel the demand for conductive plastic compounds in Asia Pacific during the forecast period
North America Also Offers Growth Opportunities
- The market in North America is anticipated to expand at a steady pace during the forecast period, due to increase in the usage of eco-friendly products in the region. Growth in the construction sector in North America led by increase in the demand for houses and increase in renovation projects is likely to boost the conductive plastic compounds market during the forecast period.
- The impact of ongoing research & development activities among universities and plastic converters & compounders in North America and Europe is high. Therefore, the conductive plastic compounds markets in North America and Europe are estimated to expand at a rapid pace during the forecast period.
Engineering Plastics Resin Type to Account for Prominent Share
- Based on resin, the engineering plastics segment held a major share of the global conductive plastic compounds market in 2018.
- The segment is anticipated to continue its dominance during the forecast period, as it offers superior physical properties that augment its performance in various automotive, electronics, industrial, medical, and consumer goods applications. Market attractiveness of the segment is estimated to be high during the forecast period.
Leading Players Actively Engage in Joint Ventures and R&D Activities
- Key players operating in the global conductive plastic compounds market include
- BASF SE
- RTP Company
- LyondellBasell Industries Holdings B.V.
- Mexichem Specialty Compounds Inc.
- DowDuPont Inc.
- Coperion K Tron
- Adell Plastics, Inc
- Sojitz Corporation
- Polyvisions Inc.
- These are large plastic converters and compounders possessing dedicated manufacturing technologies, experience, and expertise in the manufacturing of conductive plastic compounds.
- The global conductive plastic compounds market is highly fragmented; the top five manufacturers accounted for nearly 30% share of the market in 2018.
- Most of the conductive plastic compounds are produced in Asia Pacific. Compounders and converters functioning in the market are focusing on research programs and product development activities to cater to the rising demand for conductive plastic compounds in the electrical & electronics industry. This strategy enables prominent players to meet the increase in requirements of the electrical & electronics industry, and gain a dominant share in the conductive plastic compounds market.
Conductive Plastic Compounds Market – Scope of the Study
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global conductive plastic compounds market, to accurately gauge its future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the conductive plastic compounds market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the conductive plastic compounds market will progress during the forecast period of 2019 to 2027.
The report offers intricate dynamics about the different aspects of the conductive plastic compounds market that aid companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the conductive plastic compounds market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the conductive plastic compounds market, and estimates statistics related to market progress in terms of value (US$ Mn) and volume (tons).
This study covers a detailed segmentation of the conductive plastic compounds market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the conductive plastic compounds market, wherein, various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Conductive Plastic Compounds Market
The report provides detailed information about the conductive plastic compounds market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the conductive plastic compounds industry, so as to help them make successful strategies and take target-driven decisions.
- Which type of conductive plastic compounds will emerge as a revenue generator for the market during the forecast period?
- How are key market players successfully earning revenue out of the advantages of conductive plastic compounds?
- What will be the Y-o-Y growth of the conductive plastic compounds market from 2019 and 2027?
- What are the winning imperatives of market frontrunners in the conductive plastic compounds market?
- Which end-use industry is expected to develop maximum applications for the conductive plastic compounds market during the foreseeing period?
Research Methodology – Conductive Plastic Compounds Market
The research methodology adopted by analysts for combining the conductive plastic compounds market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the conductive plastic compounds market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the conductive plastic compounds market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the conductive plastic compounds market.
Conductive Plastic Compounds Market - Segmentation
TMR’s research study assesses the conductive plastic compounds market on the basis of resin, filler, end-use industry, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the conductive plastic compounds market.
Others (High Impact Polystyrene and Polyvinylidene Fluoride)
Others (including Graphite)
Electrical & Electronics
Building & Construction
Others (including Petrochemicals and Mining)
Middle East & Africa