Electronics & Consumer Goods Plastics Market Share, Size, Trends, Industry Analysis Report, By Type (PE, PVC, PS, PP, Others); By Application; By Region, Segments & Forecast, 2021 - 2028

The global electronics & consumer goods plastics market was valued at USD 38.01 billion in 2020 and is expected to grow at a CAGR of 6.1% during the forecast period. Electronic & consumer goods plastics are used for the production and manufacturing of a wide range of electronics products.

Materials such as polycarbonate and advanced resins are used for the production of white goods and electronic products for providing functionality, and aesthetics to the products. Electronics use plastics such as Polycarbonate (PC) blends, PC compounds, PC films, glass-filled PC, ignition-resistant PC, and recycled plastics, among others.

Know more about this report: Request for sample pages

The increasing population and rising demand for consumer goods drive the growth of the electronics & consumer goods plastics market. The growing middle-class population, cost-effectiveness offered by plastics, and presence of numerous players in the market further augment electronics & consumer goods plastics industry growth.

Other factors driving the market include improving lifestyles, and increasing disposable income, especially in the emerging economies of Asia Pacific. Growing demand from emerging economies, increasing awareness, and growth of e-commerce platforms are factors expected to provide numerous growth opportunities in the coming years.

Plastics are increasingly preferred over wood and metal due to their lightweight, adaptability, cost-effectiveness, and broad scope for design. However, the presence of replacement materials such as rubber, glass, and wood, for manufacturing numerous consumer goods such as toys, jewelry, and sports equipment, toys is anticipated to hinder the plastics market.

Know more about this report: Request for sample pages

Segment Analysis

Based on type, the market is segmented into polyethylene, polyvinyl chloride, polystyrene, polypropylene, and others. Polypropylene is expected to dominate the segment over the forecast period due to its wide usage in manufacturing household appliances.

On the basis of application, the market is segmented into household appliances, electronics, footwear, sports equipment, toys, and others. The household appliances segment dominated the global market in 2020 owing to increasing disposable income and improving living standards. Moreover, rising trends of nuclear families are also expected to propel the industry growth during the forecast period.

Electronics & Consumer Goods Plastics Market Report Scope

Know more about this report: Request for sample pages

Regional Analysis

Geographically, the electronics & consumer goods plastics market is segmented across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. The Asia Pacific is bifurcated into China, India, Japan, and the Rest of Asia Pacific.

The Asia Pacific accounted for the largest share in the global electronics & consumer goods polymers industry in 2020 and is expected to maintain its dominance over the forecast period owing to the presence of major manufacturers of appliances, electronics, toy manufacturer, and sporting goods across Korea, Japan, India, and China.

Latin America is anticipated to grow at a considerable pace over the forecast period owing to the rapid urbanization and industrialization of manufacturing industries in Venezuela, Argentina, Brazil, and Peru coupled with increasing government initiatives to boost the manufacturing sector in this region.

Competitive Landscape

The leading players in the electronics & consumer goods polymers industry include The Dow Chemical Company, BASF SE, Celanese Corporation, Formosa Plastics Group, Trinseo S.A., Covestro AG, E. I. du Pont de Nemours and Company, Chevron Phillips Chemical, Mitsubishi Chemical Holdings Corporation, and Solvay S.A among others.

These leading players in the industry are introducing innovative products in the industry to cater to the consumers. The global industry players are entering new markets in developing regions to expand their customer base and strengthen their industry presence.