The global thermally conductive polymers market was valued at US$ 141.8 Million in 2018, according to Thermally Conductive Polymers Market Report, 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).
The global thermally conductive polymers market is projected to reach US$ 430.7 Million by 2027, exhibiting a CAGR of 13.1% during the forecast period. Growing automotive industry is fueling growth of the thermally conductive polymers market. For instance, according to the Automobile Industry Pocket Guide 2017 / 2018 published by European Automobile Manufacturers’ Association, the global motor vehicle production reached 96.1 million units in 2016 from 91.6 million units in 2015.Automobile manufacturers prefer thermally conductive polymers as they offer good heat dissipation, low thermal expansion, and are light in weight. However, fluctuating price of raw materials and lower durability of polymers over metals is expected to restrain growth of the thermally conductive polymers market.
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Key Trends and Analysis of the Thermally Conductive Polymers Market:
- Among product type, the polyamide segment accounted for the largest market share in 2018 in the global thermally conductive polymers market. Polyamide offers good flow properties, which enables it to be easily molded into complicated shapes with high surface to volume ratios. This in turn enhances heat dispersion and makes it a preferred choice for automotive as well as electronic applications.
- Among filler type, ceramics segment was the fastest growing segment in thermally conductive polymers market in 2018. The demand for ceramic substrates with high mechanical strength and thermal conductivity is increasing due to their use in thin and high-power electronic device packaging applications. Ceramics are preferred material where thermal conductivity is required along with electrical insulation. For instance, Celanese Corporation’s ‘CoolPoly D series’ offers thermally conductive and electrically insulative polymers such as polyamide and polyphenylene sulfide with ceramic fillers that offer thermal conductivity of 1 to 10 Watt/meter-Kelvin and electrical resistivity of 1010 to 1016 ohm-cm.
Key Takeaways of the Market:
- North America accounted for the largest market share of 43.8% in 2018 in the global thermally conductive polymers market. Growth of various end-use industries such as aerospace, electronics, and automotive in this region is expected to drive the thermally conductive polymers market growth. Moreover, increasing investment in automotive sector in the region is also expected to propel growth of the thermally conductive polymers market. For instance, according to the report, ‘State of The U.S. Automotive Industry’, published by American Automotive Policy Council in October 2017, major players in automotive industry such as FCA US, Ford, and General Motors have announced investments of over US$ 35 billion in their U.S.-based assembly plants, engine & transmission plants, and R&D labs from 2013 to 2017
- Key players in the thermally conductive polymers market are focused on enhancing their product portfolio. For instance, in 2017, Royal DSM launched hydrolysis resistant grades of polybutylene terephthalate to its Arnite family of thermoplastic polyesters. The product can be used in automotive connectors, sensors, and control devices. The product is launched due to increasing demand from automotive sector for products that can resist hot and humid environments.
- Furthermore, key players in the market are adopting different strategies to expand their global footprint. For instance, in 2018, PolyOne Corporation acquired IQAP Masterbatch Group S.L. (offers specialty colorants and additives and is based in Spain). The acquisition is expected to help PolyOne Corporation to expand its product portfolio and strengthen its position in Europe.
- Major players operating in the global thermally conductive polymers market include, RTP Company, PolyOne Corporation, Celanese Corporation, SABIC, Covestro AG, Royal DSM, Mitsubishi Engineering-Plastics Corporation, HELLA GmbH & Co., and Torray Industires, Inc.