Conductive Plastics Market

Conductive Plastics Market Overview

The global conductive plastics market was valued at US$ 3 Billion in 2021, and is forecast to reach US$ 7.91 Billion by 2032. The expected forecast CAGR from 2022 to 2032 is 8.5%. As of 2022, the market is expected to be valued at US$ 3.5 Billion.

Conductive plastics are produced by incorporating carbon fibers, carbon nanotubes or stainless-steel fibers into the plastic formulation. These dispersed fibers or nanotubes bring about the electrical conductivity effect in plastics.

The conductive polymers have the usual benefits of polymers such as moldability, ease of processing, lightweight, corrosion resistance, and design flexibility and in addition to these properties, they make the end product electrically conductive. 

The Electrical & Electronics segment captures a major chunk of the conductive plastics market and nurtures the global demand with the ongoing advancements and hefty investments by prominent manufacturers. The market is projected to gain huge traction with the growing adoption rate of personal gadgets.

Which are Some Prominent Drivers Spearheading Conductive Plastics Market Growth?

A flourishing electronics and medical devices industry is primarily driving adoption of conductive plastics. Conductive plastics are a class of structural materials. They are called so because they are capable of performing several functions owing to their structure.

The growing trend of owning small, lightweight, and smart gadgets is expected to fuel the growth of the conductive plastics market. Using conductive plastics, lightweight gadgets can be manufactured, because, separate components to induce electrical conductivity would not be required if conductive plastics are used.

What are the Challenges Faced by the Conductive Plastics Industry?

Along with countless advantages, conductive plastics tend to have poor mechanical properties which hinder market growth. Plastic materials have a limited working temperature range and have a maximum conductivity of around 30-40 W/mK only with the very high loading of thermally conductivity fillers.

Consequently, the lower thermal conductivity of these plastics than traditional materials is limiting the use of conductive plastics in various applications such as power plants and heavy machinery; where the conductivity is the deciding factor instead of design.

Furthermore, it is difficult to control the injection molding process of conductive plastics, which is one of the prominent restraining factors for the industry growth.

Why is Asia-Pacific Emerging as an Opportunistic Conductive Plastics Market?

Asia-Pacific leads the conductive plastics market due to the escalation in research and development activities and a rise in the demand for personal vehicles and smart electronics in the region. The market is expected to expand from US$ 453.6 million in 2022 to US$ 1,176.5 million by 2032, at a CAGR of 10% for the period of 2022-2032.

China is a leading user of conductive plastic compounds in the Asia-Pacific region owing to the superior rate of adoption of conductive plastic compounds in the electronics sector. The APAC region will continue to gain new grounds throughout the forecast period, supported by the increasing industrialization, and plentiful availability of raw materials.

Nikhil Kaitwade

Principal Consultant

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How is Europe Contributing to the Growth of the Conductive Plastics Market?

The European conductive plastic market is projected to reach prominently during in the forecast period 2022 to 2032. Prominent factors piloting the growth of this market are amplified demand for thermally conductive plastics owing to the product’s longevity, reduced manufacturing cost and reduced component weights.

Germany holds the largest share in the revenue generated from the conductive plastics market across the region. In 2022, the Electrical & Electronics conductive plastics segment dominates the market with nearly 45% market share and will continue to maintain its dominance throughout the forecast period.

Why the United States Holds a Significant Share in the Conductive Plastics Market?

The North American market witnessed immense growth in the conductive plastics industry and touched US$ 750 million by 2022. The sturdy rise in demand owing to augmented application in the automotive industry will spur the sales of conductive plastic compounds across the U.S.

The United States is one of the prime markets for consumer electronics in the world. Electronic gadgets behold a high adoption rate combined with the technological advancements in the country.

Smartphones, tablets, portable speakers, and AI-assisted electronics are observing a soaring growth rate in the region. Prominent manufacturers are investing in the research facilities at a large scale, thereby the demand for conductive plastics will upsurge in the upcoming decade.

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Market Competition

Some of the key participants present in the global demand of Conductive Plastics market include Asbury Carbons, Bekaert Co, BASF, Electriplast Corporation, Ensinger, Goodrich Corporation, Nanocyl and RTP Co., among others. 

Asbury Graphite Mills specializes in conductive additives to support in enhancing conductivity as polymers and plastics are inherently low in thermal and electrical conductivity. Many carbons, especially graphite, have conductive values orders of magnitude higher than polymers or plastics.

Report Scope

Key Segments Covered in the Conductive Plastics Market Report

Conduction Mechanism:

• Conducting Polymer Composites
  • ABS Conductive Polymer Composites
  • PC Conducting Polymer Composites
  • PVC Conducting Polymer Composites
  • PP Conducting Polymer Composites
  • Nylon Conducting Polymer Composites
  • Other Conductive Polymer Composites
• Inherently Conductive Polymers
  • Polyaniline (PANI)
  • Polypyrrole (PPy)
  • Polyphenylene Vinylenes (PPV)
  • PEDOT
  • Other Inherently Conductive Polymers

By Application:

• Conductive Plastics for Anti-Static Packaging & Coating
• Conductive Plastics for Capacitors
• Conductive Plastics for Actuators & Sensors
• Conductive Plastics for Batteries
• Conductive Plastics for Solar Cells
• Conductive Plastics for Electroluminescence
• Conductive Plastics for Printed Circuit Board (PCB)
• Conductive Plastics for Other Applications