Plastics in Electrical and Electronics Market Size Worth $58.84 Billion By 2032 | CAGR: 5.0%

The global plastics in electrical and electronics market size is expected to reach USD 58.84 billion by 2032, according to a new study by Polaris Market Research. The report “Plastics in Electrical and Electronics Market Share, Size, Trends, Industry Analysis Report, By Polymer (Acrylonitrile Butadiene Styrene, Polypropylene, Polyurethane, Polyvinyl Chloride, Others); By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing need for sustainable and energy-efficient electrical appliances across various end-use sectors and growing awareness about the numerous advantages of plastics in the design and manufacturing of electrical & electronic components has driven global market growth. In addition, the constant rise in consumer disposable income and rising urbanization lead to increased adoption of consumer electronics, which requires plastics for the manufacturing of different components.

Growing research & development activities worldwide focused on the creation of new and innovative plastic materials with enhanced features that help reduce environmental impact as well as promote sustainability are gaining huge traction. For instance, Researchers at the University of Waterloo announced that they have developed a new, affordable way to create conjugated polymers that can be used in lightweight and low-cost electronics such as LED displays and solar cells.

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Furthermore, innovations in manufacturing technologies, including injection molding and 3D printing that allow for the creation of plastics with customized and complex designs, are gaining huge popularity. Also, the growing proliferation among companies for the automation of various processes in the plastics industry, which brings numerous advantages, including precision, increased efficiency, improved product quality, and low production costs, could positively impact the global market.

• For instance, in December 2023, Delta unveiled its new cutting-edge line of intelligent automation solutions for the plastics industry. This newly developed range of solutions includes a future-ready controller developed for plastic molding machines and AC Variable Frequency Drive solutions that are customized for various applications in the plastic industry.

Plastics in Electrical and Electronics Market Report Highlights

• The polyvinyl chloride segment accounted for a noteworthy share due to its advantages such as heat-resistance, non-conductivity, and cost-effectiveness
• Electronic devices segment held the majority share on account of the increasing demand for consumer electronics and the growing use of sustainable plastic materials
• Asia Pacific dominated the global market, owing to the presence of several favorable initiatives and penetration of electronic as well as high-quality medical devices
• The key market players include LANXESS AG, Covestro AG, BASF SE, Arkema SA, LG Chem Ltd., SABIC, Dow Inc., Mitsubishi Chemical Holdings, and Bayer AG

Polaris Market Research has segmented the plastics in electrical and electronics market report based on polymer, application, and region:

Plastics in Electrical and Electronics, Polymer Outlook (Revenue - USD Billion, 2019 - 2032)

• Acrylonitrile Butadiene Styrene
• Polypropylene
• Polyurethane
• Polyvinyl Chloride
• Polyethylene
• Polycarbonate
• Polymethyl Methacrylate
• Polyamide
• Others

Plastics in Electrical and Electronics, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Wires & Cables
• Electrical Insulation
• Printed Circuit Boards
• Electronic Devices
• Electrical Connectors
• Others

Plastics in Electrical and Electronics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Plastics in Electrical and Electronics Market Report Scope