Plastics in Consumer Electronics Market Size, Share & Trends Analysis Report By Product (PC, PC/ABS), By Application (Laptop Monitor Enclosures, Wearables), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global plastics in consumer electronics market size was valued at USD 5.50 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028. Factors, such as increasing demand from smartphone & wearable manufacturers and growing demand for laptops and tablets, are anticipated to fuel the market growth. Plastics are widely utilized in the manufacturing of consumer electronics including components, such as TV frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances & white goods, and others due to their properties, such as flexibility, durability, and chemical & heat resistance. Hence plastics, such as PC, PC/ABS, TPE, and PA, have a high demand from manufacturers of consumer electronics.

To cater to the increasing demand from the smartphone & wearable products industry, plastics in consumer electronics are being utilized for providing higher durability. The smartphone market offers opportunities for usage of a variety of plastic resins, such as Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Polymethyl Methacrylate (PMMA), as these plastics are used for manufacturing housings for electronic devices, mounting frames, display frames, and vibration cushions that are lightweight and durable.

The technology lifespan of consumer electronics is less as post the launch of the product, the competitors undergo reverse engineering processes to develop a similar or updated version of the technology. Hence, the older versions of products are often discarded by consumers. With the growth of technologically advanced equipment, there is no significant system to manage the discarded old products, which has resulted in the growth of e-waste.

Product Insights

The polycarbonate segment dominated the global market and accounted for more than 29% of the total revenue share in 2020. Polycarbonate has the ability to undergo huge plastic deformations without breaking or cracking, which sets it apart from other thermoplastics. It is extremely strong and can easily withstand high temperatures. Apart from regular applications, such as lenses, polycarbonates are extensively used in the production of DVDs, Blu-ray discs, television frames, mobile cases, and other enclosures for electronic devices.

Plastics in consumer electronics coatings are used to provide a smooth, durable finish having high resistance to UV and chemical exposure. Plastics in consumer electronics coatings are utilized in construction, wood, textile, automotive, and other applications to improve the appearance and durability of a product.

PC/ABS blend is commonly used as a flame retardant offering high heat resistance, impact strength, flexibility, improved processing, and biocompatibility. These properties make it suitable for producing housing for electronic devices. Amid the global COVID-19 pandemic, the demand for healthcare devices, such as oximeters, thermometers, and blood pressure monitors, has increased, thereby, driving the demand for PC/ABS globally.

Application Insights

The laptop monitor enclosure application segment dominated the market and accounted for more than 22% of the total market share in 2020. Increasing digitalization across every industry has propelled the market for computer electronics globally, due to the introduction of user-friendly interfaces and rising demand from the middle-class population. Plastics used for manufacturing laptop monitor enclosures increase the device lifespan due to their high durability.

Wearable electronics including smartwatches, fitness trackers, eyeglasses, and others have gained popularity due to their low weight and easy interface along with rising consumer awareness regarding following a healthy lifestyle. Since plastics are durable, flexible, and resistant to chemicals & high temperatures, they are widely used for manufacturing wearable electronics. In addition, the presence of various manufacturers including Apple Inc., SAMSUNG, Sony Corporation, OnePlus, and Xiaomi is expected to propel the demand for plastics for manufacturing mobile components, such as mobile phone bodies and internal electronics.

Regional Insights

Asia Pacific was the largest regional market in 2020 and accounted for more than 67% of the global revenue share. China led the APAC regional market in 2020, in terms of both volume and revenue. The Asia Pacific dominated the plastics segment in the consumer electronics market driven by the increasing adoption of bio-based polycarbonate by manufacturers of consumer electronics. Haier, Hisense, Huawei, Lenovo Group Ltd., Sharp Corp., Xiaomi, and Guangdong Oppo Mobile Telecommunications Corp., Ltd., are some of the major consumer electronics companies operating in China.

Plastics are non-electric conductive materials used for manufacturing electrical appliances, such as air conditioners and television frames. PC/ABS blend is used for manufacturing telephone handsets, keyboards, monitors, and computer housings; PA is used in food processor bearings and adaptors; and PC in telephones. Rising demand for consumer electronics is expected to propel the regional plastics market over the forecast period.

Key Companies & Market Share Insights

The market is competitive due to the presence of a few medium and small-scale regional players. Major players are continuously working on developing bio-degradable polymers owing to the rising environmental concerns. For instance, in November 2020, SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high post-consumer recycled materials for application in consumer electronics, such as laptops, copiers, printers, adapters, and chargers, for improving plastic recyclability.

A majority of the global companies are expected to increase their product offerings to Asia Pacific, Central & South America, and the Middle East & Africa owing to high market growth potential in these regions given the expansion of the consumer electronics industry. Rising population, rapid industrialization & urbanization, improving living standards, and rising disposable income, are factors contributing to the growth of the consumer electronics industry in Asia Pacific, Central & South America, and the Middle East & Africa regions. Some of the prominent players operating in the global plastics in consumer electronics market are:

• Trinseo S.A.

• Covestro AG

• Celanese Corp.

• SABIC

• Lotte Chemical Corp.

• LG Chem

• Mitsubishi Chemical Corp.

• SAMSUNG SDI Co., Ltd.

• Koninklijke DSM N.V.

• Qingdao Gon Science & Technology Co., Ltd.

Plastics in Consumer Electronics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global plastics in consumer electronics market report based on product, application, and region:

• Product Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • Polycarbonate (PC)

  • Liquid Crystal Polymer (LCP)

  • Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) Glass Filled Resin

  • Bio-based Polycarbonate

  • Thermoplastic Elastomers (TPE)

  • Polyamide (PA)

• Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • TV Frames

  • Laptop Monitor Enclosures

  • LCD Panels

  • Portable Hand-held Devices

  • Wearables

  • Mobile Phone Bodies

  • Appliances & White Goods

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Southeast Asia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia