Albany, NY -- (ReleaseWire) -- 04/25/2014 -- Plastics have wide applications in different sectors like automotive, electronic, medical and more. The total market for plastics can be divided into thermoplastics and thermosets. Both these types of plastics are used in different electronic components that are further used in devices. Electronic components make use of various plastics like polyamides, polystyrene, nylons, polyethylene, polyesters, polycarbonates, polyurethanes, polyketones, polyphthalamides (PPA), polysulfones, alloys, epoxy resins and more. Due to their insulation properties, plastics find applications in electrical and electronic components. Plastics are used in electrical components like ignition components, switches, bobbins, connectors, printed circuit boards and more. These electrical components are used in various sectors like telecommunications, computers, automobile and other key sectors. North America and Europe share the major market for plastics used in electronic components followed by Asia-Pacific. Also significant growth can be seen in the developing countries in all market segments.
One of the major drivers for the market of plastics in electronic components is the technological development done in different type of plastics. Liquid Crystal Polymer (LCP) and polyphenylene sulfide compounds have replaced ceramics in high performance electronic components. Nylon is being developed to be used in more applications. Different polymers are developed to meet the requirements like thin wall and high temperature for molded parts. In addition, manufacturers are increasing the number of plants and the capacities of existing plants and this is anticipated to result in a steady growth in the market. Growing trend of electronic devices like mobile phones, electronic displays, computers, tablet, scanners and others promises a significant growth for the plastics used in electronic components.
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Environmental concern is the major factor that may hold back the market for plastics. Disposal of plastics has always been a challenge, but different developments like recycling of the plastics has contributed to reduce its impact on the environment. Some of the market players operating in this market are Dow Chemical Company, BASF SE, DuPont Inc., Ineos Nova LLC, Styron LLC, Ticona Inc., Bayer Material Science, SABIC Innovative Plastics, Solvay Advanced Polymers, Toray Plastics and Chevron Phillips Chemical among others.
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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