Thermal Conductive Polymer Material Market to Hit $359.6 Mn by 2030 | with a CAGR 12.8%
Key Companies covered in thermal conductive polymer material market are SABIC (Saudi Arabia) RTP Company (U.S.) Avient Corporation (U.S.) Celanese Corporation (U.S.) Covestro AG (Germany) DSM (Netherlands) MITSUBISHI ENGINEERING-PLASTICS CORPORATION (Japan) HELLA GmbH & Co. KGaA (Germany) TORAY INDUSTRIES, INC. (Japan) DuPont (U.S.) LANXESS (Germany) LATI Industria Termoplastici S.p.A. (Italy) and more players profiled.
Pune, India, April 11, 2023 (GLOBE NEWSWIRE) — The global thermal conductive polymer material market size was valued at USD 139.3 million in 2022 and is projected to grow from USD 154.9 million in 2023 to USD 359.6 million by 2030, exhibiting a CAGR of 12.8% during the forecast period.
In thermal management applications, thermal conductive polymer materials can take the place of metal, ceramic, and traditional plastics. To improve the thermal conductivity of composite materials, these polymers are added. They are used in a variety of end-use industries, including the automotive, electrical/electronics, and medical sectors, as they are lighter in weight and have a lower density. Due to their higher impact strength, reduced cost, process ability, and ability to be molded into various shapes, these polymers are projected to witness an increase in demand. Fortune Business Insights presents this information in their report titled “Global Thermal Conductive Polymer Material Market, 2023–2030.”
Get a Free Sample Research Report:
List of Key Players Profiled in the Report
- SABIC (Saudi Arabia)
- RTP Company (U.S.)
- Avient Corporation (U.S.)
- Celanese Corporation (U.S.)
- Covestro AG (Germany)
- DSM (Netherlands)
- MITSUBISHI ENGINEERING-PLASTICS CORPORATION (Japan)
- HELLA GmbH & Co. KGaA (Germany)
- TORAY INDUSTRIES, INC. (Japan)
- DuPont (U.S.)
- LANXESS (Germany)
- LATI Industria Termoplastici S.p.A. (Italy)
- Ensinger Group (Germany)
- Lehmann&Voss&Co (Germany)
- Nytex Composites Co., Ltd (Taiwan)
- KANEKA CORPORATION (Japan)
- LOTTE Chemical Corporation (South Korea)
- BASF SE (Germany)
- Ovation Polymers, Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 12.8% |
| 2030 Value Projection | USD 359.6 Million |
| Market Size in 2022 | USD 139.3 million |
| Historical Data | 2019-2021 |
| No. of Pages | 225 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Thermal Conductive Polymer Material Market Growth Drivers | Changing Trends in the Electronics Industry to Increase Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/thermal-conductive-polymer-materials-market-103721
Segments:
Exceptional Thermal Conductivity Led to the Dominance of the Polyamide Segment
On the basis of type, the market is segmented into polyamide, polybutylene terephthalate (PBT), polycarbonate, polyphenylene sulfide, polyetherimide, and others.
A substantial portion of the market was accounted for by the polyamide segment due to its superior heat conductivity and reduced price. The polycarbonate segment, which expanded significantly, came after the polyamide segment. Polycarbonates are employed in applications that require thermal stability as they are thermally stable up to about 135°C.
Demand from the Electric & Electronic Industry Leads to the Segmental Dominance
In terms of application, the market is segmented into electrical & electronics, industrial, automotive, healthcare, aerospace, and others.
Electrical & electronic industries frequently require novel and cutting-edge solutions; hence, thermal conductive polymers find use in these fields. The need for heat sinks, heat removal devices, electric battery housing, and LED enclosures has significantly increased as a result of the necessity for thermal management in devices. The market for thermally conductive plastics is consequently expanding as a result of rising demand for electronics and electrical equipment.
COVID-19 Impact:
High Operating Cost and Shortage of Raw Material Slowed Down Market Growth
The demand for heat conductive polymer materials from the automotive and electric/electronics industries has significantly decreased after the COVID-19 pandemic. Component shortages, which already had an impact on the electronic industry, were exacerbated by COVID-19’s implications on the supply chain. The manufacturing of thermally conductive polymer materials has declined as a result of reduced freight capacity, which restricted the shipping of raw materials. Despite the electronics market’s decreasing trend, the microelectronics market showed positive outcomes. Following COVID, there has been a surge in demand for consumer electronics and electronics for home office. The market for thermally conductive polymers has also grown along with the use of advanced polymeric materials as a result of the shrinking of electronic devices.
Get a Quote Now:
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Changing Trends in the Electronics Industry to Increase Market Growth
Thermally conductive polymers are in high demand in the electrical & electronics sectors due to factors such as the shrinking of electronic devices, thermal conductivity, space limitations, and technological improvement in the electronic device industry. Traditional materials such as ceramics, metal, and conventional plastics are facing competition from thermal conductive polymers as they offer a number of advantages over metal, including being lighter in weight, having fewer components, being simple to mold, being scratch and abrasion resistant, having impact strength, and being less expensive.
On the contrary, plastic’s utility is limited by its poor thermal conductivity. Due to the recent dramatic reduction in the size of electronic components caused by rapid advancement of assembly and integration technologies in the electric sector, insulating packaging materials with effective heat dissipation are now required, which may impede thermal conductive polymer material market growth.
Regional Insights
Focus on R&D Activities Drives the Regional Market
In 2022, the North America market was estimated to be worth USD 63 million. Due to the high adoption rate of thermally conductive polymers, North America is anticipated to hold the biggest thermal conductive polymer material market share over the projection period. A major factor propelling the regional market is a strong emphasis on research & development activities. In addition, the presence of significant manufacturers, such as DuPont, Avient Corporation (PolyOne Corporation), and RTP Company, in the U.S. is anticipated to support regional growth.
Competitive Landscape
Businesses Concentrate on Maintaining Dominance by Offering Customized Products
To meet the demands of the developing market, several producers offer specialized products. The Nytex Composites Co., Ltd., for instance, concentrates on strategic decisions to boost overall sales volume. The company is meeting demand from the newest and fastest-growing industries, including electric vehicles, WIFI 6, thermal conductive materials, and renewable energy storage systems by providing a wide range of products together with product innovation.
One of the latest market trends is the uptake of electric vehicles. Market participants stand to gain a lot from the development of products specifically suited for EV applications. In order to meet the rising demand, numerous firms are concurrently growing production capacity at various manufacturers throughout the world and engaging in mergers and acquisitions.
Ask for Customization:
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries/Regions
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porter’s Five Forces Analysis
- Thermal Conductive Polymer Materials Application in Electric Vehicles
- Challenges Faced by Thermal Conductive Polymer Materials During Adoption in Electric Vehicles
- Qualitative Insights – Impact of COVID-19 on Global Thermal Conductive Polymer Material Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Thermal Conductive Polymer Material Market Analysis, Insights, and Forecast, 2019 – 2030
- Key Findings / Summary
- By Type (Value and Volume)
- Polyamide
- Polybutylene Terephthalate
- Polycarbonate
- Polyphenylene Sulfide
- Polyetherimide
- Others
- By Application (Value and Volume)
- Electrical & Electronics
- Industrial
- Automotive
- Healthcare
- Aerospace
- Others
- By Region (Value and Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
Speak to Our Expert:
Key Industry Development:
May 2022: BASF launched Ultradur B4335G3 HR HSP all-rounder for reliable protection. With the polybutylene terephthalate (PBT) Ultradur B4335G3 HR HSP, BASF has developed a material that protects sensitive electronics from such influences. The unique combination of various properties sets Ultradur apart from alternative materials.
Read Related Insights:
Polysilicon Market to Reach 1,718.0 Tons by 2029 | Polysilicon Industry CAGR of 14.5% by (2022-2029)
Polymer Modified Bitumen Market to Worth USD 16.26 Billion by 2028 | Polymer Modified Bitumen Industry CAGR 4.7% 2021-2028
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune – 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Follow Us: LinkedIn | Facebook | Twitter
