Thermally Conductive Polymers Market Research Report 2023 - Detailed Analysis of Future Trends & Growth Opportunities
Posted by Rajkumar on February 17th, 2023
Thermally conductive polymers are specialty products designed to replace ceramics, metal, and conventional plastics for heat-sensitive applications. They are used in a variety of applications including automotive parts, electronics, and housing. Thermally conductive polymers are especially challenging traditional metallurgical materials like metals (again, notably stainless steel) and ceramics due to their numerous benefits. The first designs proved successful for components used in heat shields and wings for military aircraft. These lightweight constructions were found to be effective in applications such as radar detectors for the airplane, bulletproof vests, fire extinguishers, and even bulletproof eyewear for soldiers.
The development of smart electronics is expected to drive growth of the global thermally conductive polymers market during the forecast period. The smart electronics industry has witnessed massive growth over the years with industry leaders introducing innovative products. For instance, in November 2020, Samsung Electronics introduced the global availability of its new Smart Monitor. It is an innovative, do-it-all screen that offers a suite of features for work, entertainment, and learning. Furthermore, in October 2020, Apple Inc. launches iPhone 12 with 5G capabilities along with HomePod Mini Speaker. Hence, such factors are expected to drive growth of the global thermally conductive polymers market during the forecast period. Furthermore, technological advancements in the automotive industry are expected to boost the global thermally conductive polymers market growth over the forecast period. Moreover, ease of customization and design flexibility is expected to propel the market growth in the near future.
However, lower thermal conductivity as compared to conventional materials and environmental pollution is expected to hinder the global thermally conductive polymers market growth over the forecast period. Besides, stringent regulations and high cost is expected to hamper the market growth over the forecast period. Among regions, North America is expected to witness significant growth in the global thermally conductive polymers market during the forecast period. This is owing to the rapid growth of various end-use industries including automotive, electronics, aerospace & defense, and electrical in the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to rising urbanization and increasing demand for smart electronics in the region.
Key players operating in the global thermally conductive polymers market are RTP Company, Toray Industries, Inc., PolyOne Corporation, HELLA GmbH & Co., Celanese Corporation, Mitsubishi Engineering-Plastics Corporation, SABIC, Royal DSM, and Covestro AG.
For instance, in September 2019, SABIC introduced its latest high-performance optical compounds for LiDAR Automotive Components
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About the AuthorRajkumar
Joined: February 13th, 2019
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