The Global Thermally Conductive Plastics Market size is expected to reach $402.5 million by 2031, rising at a market growth of 13.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 38,195.6 tonnes, experiencing a growth of 33.7% (2020-2023).
Thermally conductive plastics help efficiently transfer heat away from these components, improving their performance and lifespan. According to Statistics Canada, during the third quarter of 2022, 34,313 new zero-emission vehicles (ZEVs) were registered, accounting for 8.7% of the total new motor vehicle registrations. This marks a 43.2% increase in the number of new ZEVs. Therefore, in 2023, the automotive segment attained a noteworthy revenue share in the market. In terms of volume, 23,400.2 tonnes of Thermally Conductive Plastics is expected to be utilized in automotive by the year 2031. The increasing demand for electric and hybrid vehicles has heightened the requirement for effective thermal management solutions to dissipate heat generated by essential components such as batteries, motors, inverters, and power electronics. The growth of electric vehicles is propelling the demand for thermally conductive plastics within the industry.
Industries such as automotive, aerospace, and electronics are increasingly seeking lightweight materials to improve fuel efficiency (in automotive) and enhance performance (in aerospace and electronics). Thermally conductive plastics offer the advantage of being significantly lighter than traditional metal alternatives while still providing adequate thermal management properties. They can be manufactured using injection molding processes, which are often more cost-effective and allow for complex geometries, reducing the need for additional parts and assembly steps. Hence, increasing focus on lightweight materials is driving the market’s growth.
Additionally, modern electronic devices like smartphones, computers, and automotive electronics are becoming more powerful and compact. As a result, they generate more heat in a smaller space, leading to greater challenges in dissipating heat effectively. Thermally conductive plastics offer a lightweight and efficient solution for managing heat in these densely packed devices. Many industries, including automotive, aerospace, and electronics, are pushing the boundaries of operating temperatures for their components and systems. Thermally conductive plastics can withstand higher temperatures than traditional plastics, allowing them to be used in critical heat management applications. Thus, the rising need for heat management propels the market’s growth.
However, Smart manufacturing and Industry 4.0 initiatives integrate advanced automation, Internet of Things (IoT), and data analytics technologies into manufacturing processes. These technologies rely heavily on electronic components and sensors embedded within machinery and equipment to collect and analyze real-time data. Additionally, thermally conductive plastics are often recyclable and lightweight and offer potential material savings compared to traditional metal alternatives, supporting sustainability goals in manufacturing processes. In conclusion, rising smart manufacturing and industry 4.0 applications propel the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Thermally conductive plastics help efficiently transfer heat away from these components, improving their performance and lifespan. According to Statistics Canada, during the third quarter of 2022, 34,313 new zero-emission vehicles (ZEVs) were registered, accounting for 8.7% of the total new motor vehicle registrations. This marks a 43.2% increase in the number of new ZEVs. Therefore, in 2023, the automotive segment attained a noteworthy revenue share in the market. In terms of volume, 23,400.2 tonnes of Thermally Conductive Plastics is expected to be utilized in automotive by the year 2031. The increasing demand for electric and hybrid vehicles has heightened the requirement for effective thermal management solutions to dissipate heat generated by essential components such as batteries, motors, inverters, and power electronics. The growth of electric vehicles is propelling the demand for thermally conductive plastics within the industry.
Industries such as automotive, aerospace, and electronics are increasingly seeking lightweight materials to improve fuel efficiency (in automotive) and enhance performance (in aerospace and electronics). Thermally conductive plastics offer the advantage of being significantly lighter than traditional metal alternatives while still providing adequate thermal management properties. They can be manufactured using injection molding processes, which are often more cost-effective and allow for complex geometries, reducing the need for additional parts and assembly steps. Hence, increasing focus on lightweight materials is driving the market’s growth.
Additionally, modern electronic devices like smartphones, computers, and automotive electronics are becoming more powerful and compact. As a result, they generate more heat in a smaller space, leading to greater challenges in dissipating heat effectively. Thermally conductive plastics offer a lightweight and efficient solution for managing heat in these densely packed devices. Many industries, including automotive, aerospace, and electronics, are pushing the boundaries of operating temperatures for their components and systems. Thermally conductive plastics can withstand higher temperatures than traditional plastics, allowing them to be used in critical heat management applications. Thus, the rising need for heat management propels the market’s growth.
However, Smart manufacturing and Industry 4.0 initiatives integrate advanced automation, Internet of Things (IoT), and data analytics technologies into manufacturing processes. These technologies rely heavily on electronic components and sensors embedded within machinery and equipment to collect and analyze real-time data. Additionally, thermally conductive plastics are often recyclable and lightweight and offer potential material savings compared to traditional metal alternatives, supporting sustainability goals in manufacturing processes. In conclusion, rising smart manufacturing and industry 4.0 applications propel the market’s growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Driving and Restraining Factors
Drivers- Increasing Focus on Lightweight Materials
- Rising Need for Heat Management
- Expansion of Electronics Industry Worldwide
- High Costs of Thermally Conductive Plastics
- Limited Material Options for Specific Applications
- Growing Smart Manufacturing and Industry 4.0 Applications
- Integration Into Building Materials for Energy Efficiency
- Complexity In Recycling and Disposal
- Limited Awareness and Lack of Education
End-use Outlook
On the basis of end-use, the market is segmented into automotive, industrial, electrical & electronics, healthcare & pharma, aerospace, telecommunications, and others. The electrical & electronics segment recorded 36% revenue share in the market in 2023. In terms of volume, 34,051.4 tonnes of thermally conductive plastics are expected to be utilized in Electrical and electronic by the year 2031. Electrical and electronic devices generate heat during operation due to electrical resistance and component inefficiencies. Effective heat dissipation is essential to avoid overheating, which can result in performance degradation, shortened lifespan, and potential component failure.
Type Outlook
Based on type, the market is divided into polyamide, polycarbonate, polyphenylene sulfide, polyetherimide, polybutylene terephthalate, polysulfones, and others. The polybutylene terephthalate segment attained 21% revenue share in the market in 2023. In terms of volume, 29,270.6 tonnes of polybutylene terephthalate type is expected to be utilized by the year 2031. The rapid expansion of the electronic and electrical industry has led to a higher demand for thermally conductive plastics. PBT is widely used in electronic components due to its excellent thermal stability, mechanical properties, and ease of processing.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 38% revenue share in the market in 2023. In terms of volume, 34,451.2 tonnes of thermally conductive plastics are expected to be utilized in this region. Technological advancements in the automotive industry in North America are rapidly progressing, characterized by the electrification of vehicles and the incorporation of advanced driver assistance systems. Thermally conductive plastics are increasingly used in automotive applications to dissipate heat from electric vehicle batteries, power electronics, LED lighting, and other components.List of Key Companies Profiled
- Celanese Corporation
- SABIC (Saudi Arabian Oil Company)
- BASF SE
- Koninklijke DSM N.V.
- DuPont de Nemours, Inc.
- Lanxess AG
- Ensinger GmbH
- Toray Industries, Inc.
- Kaneka Corporation
- Covestro AG
Market Report Segmentation
By Type (Volume, Tonnes, USD Million, 2020-2031)- Polyamide
- Polycarbonate
- Polyphenylene Sulfide
- Polyetherimide
- Polybutylene Terephthalate
- Polysulfones
- Others
- Electrical & Electronics
- Automotive
- Industrial
- Aerospace
- Healthcare & Pharma
- Telecommunications
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Thermally Conductive Plastics Market by Type
Chapter 6. Global Thermally Conductive Plastics Market by End-use
Chapter 7. Global Thermally Conductive Plastics Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Celanese Corporation
- SABIC (Saudi Arabian Oil Company)
- BASF SE
- Koninklijke DSM N.V.
- DuPont de Nemours, Inc.
- Lanxess AG
- Ensinger GmbH
- Toray Industries, Inc.
- Kaneka Corporation
- Covestro AG
Methodology
LOADING...
