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Asia Pacific plastics in consumer electronics Market: Segmented By Product (Polycarbonate, Liquid Crystal Polymers, Polycarbonate/Acrylonitrile Butadiene Styrene), By End-use (Laptop monitor enclosures, Appliances and White Goods, Mobile Phone Bodies and Others), And Region - Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170 + Pages Research Report ] Asia Pacific Plastics In Consumer Electronics Market to surpass USD 5.16 billion by 2031 from USD 5.16 billion in 2021 at a CAGR of 3.08% in the coming years, i.e., 2021-31
The electronics & electrical industry has grown in recent years. The industry invests importantly in new product development to meet the developing needs of consumers. The use of plastics in the manufacture of electrical appliances is growing. Aspects such as reduction in appliance weight, aesthetics, and favorable characteristics of plastics are increasing the usage of plastics in consumer electronics products. Growth of the electronics & electrical industry is expected to fuel demand for plastics in the near future.
Asia Pacific plastics in consumer electronics to surpass USD 5.16 billion by 2031 from USD 5.16 billion in 2021 at a CAGR of 3.08% in the coming years, i.e., 2021-31. The growth of the market is fueled by the rising adoption of bio-based polycarbonate by manufacturers of consumer electronics. Amplified investments in research & development actions and the introduction of recycled polymers such as bio-based polycarbonate have been key aspects providing a competitive advantage to the players in this market.
Asia Pacific plastics in consumer electronics market is classified on the basis of Product into Polycarbonate, Liquid Crystal Polymers, Polycarbonate/Acrylonitrile Butadiene Styrene. Polyamides segment dominates the market share globally. Polyamides are used for manufacturing casings for television sets, laptops, mobile phones, and others owing to high rigidity, sliding friction, dimensional stability, and chemical resistance. Growing demand for consumer electronics across the region is predictable to drive the demand for polyamides.
Based on End-user, Asia Pacific plastics in consumer electronics Market fragmented into Laptop monitor enclosures, Appliances and White Goods, Mobile Phone Bodies etc . The laptop monitor enclosures segment led the market and reported for the largest revenue share of more than 20% in 2020. Academic institutes and several multinational corporations had to adopt work from home policies to contain the spread of the virus.
The globalization of the manufacturing sector
The globalization of the manufacturing sector has drove many electronic device-manufacturing companies to increase their manufacturing facilities or outsource their production to contract manufacturers based in other countries of Asia Pacific. This has fueled the manufacturers in overcoming the manufacturing and supply chain tasks. Features such as low prices of production and lenient government regulations in Asia Pacific countries have been beneficial to major electronic brands.
Low labor cost
Proximity to raw material suppliers and low labor costs are appealing to consumer electronics manufacturers in China. The existence of many chief consumer electronics manufacturers is expected to create significant demand for plastics. Additionally, the growing demand for appliances in India is anticipated to boost product demand across the electronics industry. Moreover, rapid urbanization is anticipated to boost the demand for mobile phones, laptops, television, and other electronic appliances across India.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Asia Pacific plastics in the consumer electronics market is segmented based on regional analysis into five major regions: China, South Korea, India, Japan, and the rest of APAC. China dominated the market and accounted for the maximum revenue share in 2020. China led the plastics market in consumer electronics in 2020 and is anticipated to maintain its dominance over the forecast years. Proximity to raw material suppliers and low labor costs are appealing to consumer electronics manufacturers in the country. China is among the leading consumer electronics market worldwide. The existence of various key consumer electronics manufacturers is expected to create significant demand for plastics over the forecast years.
Asia Pacific plastics in consumer electronics Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 3.81 billion |
| Revenue forecast in 2031 | USD 5.16 billion |
| Growth Rate | CAGR of 3.08% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, End-use, and Region |
| Regional scope |
China. South Korea, Japan, India, and Rest of APAC |
| Key companies profiled | SAMSUNG, OnePlus, Haier, Hisense, Huawei, Lenovo Group Limited, Sharp Corporation, Xiaomi, Oppo Mobile Telecommunications Corp., Ltd. and Other Prominent Players |
The Asia Pacific Plastics In Consumer Electronics Market size was estimated at USD 5.16 billionin 2020 and is expected to reach USD 5.16 billion by 2030.
Key players: SAMSUNG, OnePlus, Haier, Hisense, Huawei, Lenovo Group Limited, Sharp Corporation, Xiaomi, Oppo Mobile Telecommunications Corp., Ltd. and Other Prominent Players
Attenuated vaccines segment are anticipated to hold the largest Asia Pacific Plastics In Consumer Electronics Market
Drivers: The globalization of the manufacturing sector and Low labor cost
The electronics & electricals industry has grown in recent years. The industry invests importantly in new product development to meet the developing needs of consumers. Use of plastics in the manufacture of electrical appliances is growing. Aspects such as reduction in appliance weight, aesthetics, and favorable characteristics of plastics are increasing the usage of plastics in consumer electronics products. Growth of the electronics & electricals industry is expected to fuel demand for plastic
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