NEW YORK, April 12, 2017 /PRNewswire/ -- "The thermally conductive plastics market is projected to grow at a CAGR of 13.6% from 2016 to 2021, in terms of value."
The thermally conductive plastics market is projected to reach USD 255.1 million by 2021, at a CAGR of 13.6% from 2016 to 2021. Strong focus on customization and design flexibility is a prime factor for the growth of market. Plastic materials are comparatively lighter than other alternative materials, such as metals and ceramics; are easy-to-handle, customize, and mold; and have higher scratch resistance, thermal stability, impact strength, and resistance to abrasions. These superior properties of TCPs are a key driver for the growth of the market in the coming years. The demand for smart electronics and technological advancements in the automotive industry is expected to boost the demand of TCPs during forecast period. However, comparatively lower thermal conductivity than traditional materials can restrain the growth of TCPs market during the forecast period. Fluctuating prices of raw materials and high cost complex production process are key challenges for the growth of the market.
"Among end-use industries, the automotive segment is projected to be the fastest-growing segment of the market during the forecast period."
Among end-use industries, the automotive segment is projected to be the fastest-growing segment of the market during the forecast period. Increasing demand for energy efficient lighting solutions, compact design, and lightweight automobiles are key factors expected to drive the demand for TCPs in the automotive segment. Furthermore, the use of thermally conductive plastics as metal replacements reduces weight of vehicles, increases performance, provides design flexibility, and thus reduces the overall costs. These factors are expected to contribute to the increasing consumption of TCPs in the automotive industry.
"North America is projected to be the largest market for TCPs during the forecast period."
The use of shale gas as a raw material to manufacture polymers has lowered TCP prices in the market and is expected to boost the regional demand in North America. The U.S. led the North America thermally conductive plastics market. The markets in emerging economies, such as China, India, and Mexico are also expected to witness rapid growth in the coming years.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
• By Company Type- Tier 1-50%, Tier 2-33%, and Tier 3-17%
• By Designation- C Level-36%, Director Level-21%, and Others-43%
• By Region- North America-9%, Europe-27%, Asia-Pacific-55%, and Middle East, Africa & South America -9%
The report provides profiles of major market players, such as are Celanese Corporation (U.S.), Royal DSM N.V. (Netherlands), PolyOne Corporation (U.S.), SABIC group (Saudi Arabia), RTP Company (U.S.), Covestro AG (Germany), E. I. Du Pont de Nemours and Company (U.S.) and BASF SE (Germany), and competitive strategies adopted by them to strengthen their position in the market.
The objective of the study is to define, describe, and forecast the market based on various segmentations and to strategically analyze the market segments with respect to individual growth trends, growth prospects, and contribution to the total market. In this report, the thermally conductive plastics market has been segmented based on resin type, end-use industry, and region.
REASONS TO BUY THE REPORT
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the TCPs market comprehensively and provides the closest approximations for sizes of all market segments and subsegments across different verticals and regions.
2. This report will help stakeholders in obtaining improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about expansions, new product developments, acquisitions, and partnerships, agreements & collaborations undertaken by the key players in the thermally conductive plastics market.
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