Carbon Black Filler-based Conductive Plastic Compounds to Enjoy Highest Demand, Evaluates Fact.MR
Conductive plastic compounds having properties such as electrostatic discharge and electromagnetic shielding have elevated the sales of during the past half-decade and is expected to rise during the assessment period.
Medical industry is rapidly growing and new advanced devices are being introduced continuously. As the use of conductive plastic compounds particularly which are made from carbon nanotubes fillers has seen an increase in recent years and is set to showcase promising growth owing to mounting healthcare industry.
Sales of conductive plastic compounds in electric & electronics industry is seeing fastest growth compared to other industries due to their unique product attributes. These compounds are finding use in many electrical components and electronic devices, the compounds are also used as covers for electric components. Electric & electronics industry is expected to grow at substantial rate which in turn will provide influential boost to the sales of conductive plastic compounds.
The automotive industry is a lucrative end use for these compounds as the application use case of conductive plastic compounds is exclusive. Other industries which are influencing the potential volume of conductive plastic compounds are packaging, petrochemical, mining, building & construction, medical devices and industrial machinery.
As per the recent market intelligence report published by an ESOMAR-certified market research and consulting firm, the conductive plastic compounds market is anticipated to surpass US$ 20.5 billion by the end of 2031, and is poised to expand at a CAGR of around 11% over the next ten years.
Key Takeaways from Market Study
- The conductive plastic compounds market is anticipated to add 2X value by 2031.
- East Asia accounts for largest market share of conductive plastic compounds holding to more than quarter of the market value.
- Carbon black filler-based conductive plastic compounds holds the largest share in the market.
- Polyethylene resin is used in more than half of conductive plastic compounds.
- Sales of conductive plastic compounds will see highest growth in electric and electronics industry.
- Carbon nanotubes based fillers are most used in manufacturing of medical devices.
“Demand for conductive plastic compounds has seen exponential rise in East Asia, and the region continues to hold a dominant position”, says a Senior Research Analyst.
Vital players have been spending on research & development to come up with newer products based on conductive plastic compounds which are used in various industries particularly in medical and automobile. These enhancements will drive the growth of conductive plastic compounds in the medium- to long-term forecast period.