The global conductive plastic compounds market size was valued at USD 1.2 billion in 2021 and is poised to grow at a significant CAGR of 7.8% during the forecast period 2022-28. Organic polymers that transmit electricity are known as conductive plastics. Carbon fibres, stainless steel fibres, and carbon nanotubes are incorporated into plastic formulations to create conductive plastics. Polyamide, polycarbonate, polyphenylene sulphide (PPS), polyethylene, polypropylene, polysulfones, as well as other materials can be classified as polyamide, polycarbonate, polyphenylene sulphide (PPS), polyethylene, polypropylene, polysulfones, and other materials. According to the Semiconductor Industry Group, China bought roughly $356 billion in semiconductors in 2020, amassed 30 percent of the world's electronic devices, and exported 35 percent to 75 percent of global PC, TV, and cell phone exports. The market is being driven by the rise in demand from the electronics and automotive sectors. The low conductivity of conductive plastics, on the other hand, could be a substantial market limitation.
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Owing to the increased awareness regarding filler material technology and use among electronic and electric component manufacturers, the Global Conductive Plastic Compounds Market has grown significantly in recent years. Convertors and makers of conductive plastic compound concentrate on creating goods that are energy-efficient, stable, and resource-saving. Packaging, construction, and automotive sectors will all contribute to the rise of the conductive plastic compounds market in the coming years. The worldwide economy has been disrupted by the outbreak of COVID-19, which has caused industry to stutter. Stay-at-home policies have been imposed by governments across the globe, preventing people from going out shopping. Furthermore, the global market's expansion has been hampered by supply chain disruptions and a lack of manpower. Due to limited demand, numerous food and beverage sectors have had to cease operations as a result of the lockdown. This is also predicted to outstrip demand from the packaging industry, resulting in a drop in demand for conductive plastics.
The global conductive plastic compounds market segmentation:
1) By Resin Type: Polyvinyl Chloride, Polystyrene, Polypropylene, Polyethylene, Engineering Plastics, Bioplastics, Elastomers, Thermoplastic and Others.
2) By Filler Type: Carbon Black, Carbon Fibers, Carbon Nanotubes, Metals and Others (including Graphite.
3) By End User: Automotive & Transportation, Building & Construction, Consumer Goods & Appliances, Electrical & Electronics, Industrial Applications, Medical and Others (Packaging and Petrochemical Mining.
Due to the substantial presence of numerous large electronic and electrical component manufacturers in global economies like India, China, and several East Asian countries, Asia Pacific led the global conductive plastic compounds market. Furthermore, in the coming years, massive growth of electronic and electrical component manufacturing facilities in regional economies including South Korea, Vietnam, India, and Thailand, as well as a strong regional drive for industrialization, are expected to fuel demand in the global conductive plastic compounds market in Asia Pacific. The influence of current research and development operations among universities and plastic converters in North America and Europe is significant. As a result, the market for conducting plastic compounds in North America and Europe is expected to grow substantially over the forecast period.
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There are several industry players working in the Conductive Plastic Compounds Market, which include BASF SE, Schulman, Adell PlasticsInc, Coperion K Tron, DowDuPont Inc., LyondellBasell Industries Holdings B.V., Mexichem Specialty Compounds Inc.
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