Electronics and Consumer Goods Plastics Market Trend, Segmentation and Forecast to 2025

Growing demand for plastics in consumer gadgets manufacturing owing to their lightweight, low cost and superior impact and corrosion resistance is expected to propel growth.

The Global Electronics and Consumer Goods Plastics Market is expected to reach USD 53.5 billion by 2025, according to a new report by Grand View Research, Inc.

The major industry players including BASF SE, Bayer AG, DuPont, and Exxon Mobil Corporation, are engaged in manufacturing raw materials as well as plastics for end-use applications. Whereas, the players including LG Group and Honeywell are integrated across the complete value chain from the raw material supply to the production of consumer goods.

Rising consumer demand for environmental friendly plastics is expected to compel the manufacturers to divert their focus to the production of bio-based and degradable product over the forecast period. The companies in the electronics and consumer goods plastics industry are expected to establish strategic partnerships with end-use industries to maintain their customer base and the foothold in the market.

Increasing raw material prices and strong foothold of the existing players in the market are expected to be the key factors challenging the entry of new players. Growing concerns towards e-waste management coupled with stringent government regulatory framework for plastic waste disposal is likely to hamper product demand over the projected period.

The demand in consumer electronics industry is expected to grow at a CAGR of 6.9%, owing to the increasing plastic usage for manufacturing for manufacturing electronic gadgets such as smartphones, laptops, CD players, TVs and computers.

Household appliances accounted for 23.9% of the total revenue generated by the industry and is expected to grow on account of increasing demand for product for manufacturing structures and bodies of washing equipment, refrigerators, and air conditioners.

To Know More About Electronics and Consumer Goods Plastics Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/electronics-consumer-goods-plastics-market

The demand for plastics in winter sports was valued at USD 1.62 billion in 2016 and is expected to grow on account of rising product penetration to replace traditional wood and metal sports equipment to gain superior performance, durability, and lightweight.

Market Segmentation of Electronics and Consumer Goods Plastics Market:

The Global Electronics and Consumer Goods Market segmented on the basis of Application and Region.

By Application:

    Household appliances
    Consumer Small Appliances
    Consumer Electronics
    Lighting equipment
    Toys
    Winter Sports
    Sport Shoes
    Jewelry

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East & Africa

Inquire about Electronics and Consumer Goods Plastics Market with Our Experts @ https://www.grandviewresearch.com/inquiry/4405

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