Thermally conductive polymers market

Thermally Conductive Polymers Market, By Product Type (Polyphenylene Sulfide (PPS), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Polyethylenimine (PEI), Polysulfone (PSU), Polyether Ether Ketone (PEEK), Polyolefin, Epoxy, Silicone, Polyurethane, and Others), By Filler Type (Ceramics, Carbon-based, and Others), By End-use Industry (Electrical & Electronics, Aerospace & Defense, Automotive, Industrial, and Healthcare), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

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Mar 2023
CMI2572
213 Pages
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Bulk Chemicals

Summary

The global thermally conductive polymers market was valued at US$ 136.9 million in 2022 and is projected to reach US$ 366.4 million by 2030 witnessing a CAGR of 13.1% over the forecast period (2023-2030). This growth is attributed to growing end-use industries such as electrical & electronics, automotive, aerospace & defense, and medical industries. Moreover, increasing demand for compact, smart, inexpensive, and high-performance products is expected to drive the growth of the electronics industry, which in turn is expected to propel the demand for thermally conductive polymers over the forecast period.

Thermally conductive polymers: Regional Insights

The Asia Pacific holds the foremost immense amount of share within the worldwide Thermally conductive Polymers market owing to the countries that are helping within the growth of the market are India, China, Japan, Malaysia, Singapore, and lots of other APAC region countries which are expected to witness considerable expansion within the thermally conductive polymers market. North America region holds the most significant market share within the worldwide thermally conductive polymers market, because of the key companies which are in use. The North America region is booming the markets in these areas. The expansion and developments during this region are being held by the countries slightly rather like the U.S., Canada, and Mexico.

Figure 1. Global Thermally Conductive Polymers Market (%), By Region

Thermally conductive polymers: Growth drivers

Rapid growth in the consumer electronics industry and demand from the automotive sector

Swift growth in the electronic sector is a major driving factor for the thermally conductive polymer market growth during the forecast years. This growth is majorly accredited to increasing consciousness about the safe packaging of electronic components from electromagnetic inference, static electricity, and others. This factor has augmented the utilization of conductive polymers in packaging applications owing to excellent shielding applications towards the electrostatic discharge and radio frequency interference. In addition, increasing demand from the automotive sector is also estimated to impel the market growth over the forecast years. This expected growth is owing to the potential applications of conductive polymers in battery-powdered automobiles because of their high energy density. Also, these materials are being used in modern vehicles such as designing of lightweight structures and play an important role in manufacturing of stiff, resistant and light vehicles with better safety; this aspect is further predicted to fuel market growth in the review time.

Miniaturization of electronic components and development of power electronics

Innovation in microelectronics and the development of smaller electronic component demand advanced thermal management solutions. Heat dissipation in microelectronics and power electronics is a critical challenge that can be addressed by thermally conductive polymers. Conventional materials such as aluminum have limited design freedom, whereas thermally conductive polymers can be over-molded to form complex designs of components. The concentration of heat in power electronics components such as LED may result in performance issues or component damage. Thermally conductive polymers are majorly used for heat dissipation and substitute material for metals ad ceramics in electrical & electronics, automotive, and other industries for superior thermal management

Thermally conductive polymers: Market restraints

Lower thermal conductivity than traditional metals

Thermally conductive polymers have low thermal conductivity than metals such as aluminum. These polymers are modified with thermally conductive fillers and additives to increase thermal conductivity. Metals have certain drawbacks such as being prone to corrosion and concentration of heat which leads to the creation of hot spots on the surface which can be eliminated by thermally conductive polymers. Thermally conductive polymers are design dependent and compatible with various polymer resins that can be processed in a variety of designs, shapes, and sizes for complex structures. However, the lower thermal conductivity of the polymers than traditional materials restrains the growth of the market.

Thermally conductive polymers Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 136.9 Mn
Historical Data for:	2017 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	13.1%	2030 Value Projection:	US$ 366.4 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Polyphenylene Sulfide (PPS), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Polyethylenimine (PEI), Polysulfone (PSU), Polyether Ether Ketone (PEEK), Polyolefin, Epoxy, Silicone, Polyurethane, Others By Filler Type: Ceramics, Carbon-based, Others By End-use Industry: Electrical & Electronics, Aerospace & Defense, Automotive, Industrial, Healthcare By Region: North America, Latin America, Asia Pacific, Europe, Middle East, Africa
Companies covered:	RTP Company, PolyOne Corporation, Celanese Corporation, SABIC, Covestro AG, Royal DSM, Mitsubishi Engineering-Polymers Corporation, HELLA GmbH & Co., and Torray Industries, Inc.
Growth Drivers:	Rapid growth in the consumer electronics industry and demand from the automotive sector Miniaturization of electronic components and development of power electronics
Restraints & Challenges:	Lower thermal conductivity than traditional metals Availability of substitutes is a major restraint on the growth of the conductive polymer market

Availability of substitutes is a major restraint for the growth of the conductive polymer market

The easy availability of substitute materials along with low thermal conductivity compared to other alternatives is expected to limit the market growth over the forecast years. Also, high cost of conductive materials owing to fluctuations in raw material costs is further estimated to hamper the market growth in the forecast time.

Thermally conductive polymers: Segmentation

Automotive is the fastest-growing end-use industry during the forecast period. The automotive industry is driven by the development of hybrid electric vehicles (HEV) and electric vehicles (EV), which is expected to increase the demand for automotive electronics application of thermally conductive polymers. The substitution of mechanical components with thermally conductive engineered polymers due to the design flexibility of 3D components, weight reduction, and heat sinks for automotive LED lighting systems in increasing the demand for thermally conductive polymers.

Figure 2. Global Thermally Conductive Polymers Market (%), By End-use Industry

Recent Developments:

On May 31, 2022, a roughly $1 billion agreement, Saint-Gobain will buy Kaycan, a Canadian manufacturer and distributor of building products. The $928 million cash deal was disclosed by the French building materials behemoth, which has its North American headquarters in Malvern. By the end of the year, the deal should be completed
On March 8, 2021, BASF is extending its Ultramid Advanced polypthalamide (PPA) line with carbon-fiber-reinforced grades with fills of 20,30, and 40%. The following are some of the advantages of these new materials: they’re exceedingly light, and can safely replace aluminum and magnesium without sacrificing stiffness or strength.

Major Players:

Major players operating in the global thermally conductive polymers market include, RTP Company, PolyOne Corporation, Celanese Corporation, SABIC, Covestro AG, Royal DSM, Mitsubishi Engineering-Polymers Corporation, HELLA GmbH & Co., and Torray Industries, Inc.

Table of Content

Table of Contents

* Browse 70 market data tables* and 60 figures* on “Thermally Conductive Polymers Market” - Global forecast to 2030.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the projected market size & growth rate of the Thermally Conductive Polymers Market?

Thermally Conductive Polymers Market was valued at US$ 136.9 Million in 2022 and is projected to reach US$ 366.4 Million by 2030, growing at a CAGR of 13.1% from 2023 to 2030.

What are the key driving factors for the growth of the Market?

Rapid growth in the consumer electronics industry and demand from the automotive sector and Miniaturization of electronic components and development of power electronics are the key driving factors for the Market

What are the top players operating in the Market?

Major players operating in the market include, RTP Company, PolyOne Corporation, Celanese Corporation, SABIC, Covestro AG, Royal DSM, Mitsubishi Engineering-Polymers Corporation, HELLA GmbH & Co., and Torray Industries, Inc

What segments are covered in the Market Report?

The Market is segmented based on product type, by filer type, end use and region.