Conductive Plastic Compounds Global Market Report 2024

The conductive plastic compounds market size has grown rapidly in recent years. It will grow from $10.94 billion in 2023 to $12.32 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The expansion witnessed in the past period was propelled by the growth of the electronics industry, the trend toward miniaturization in electronic devices, the burgeoning automotive sector, the expansion of the telecommunications industry, the increased use of renewable energy applications, and the adherence to regulatory compliance.

The conductive plastic compounds market size is expected to see rapid growth in the next few years. It will grow to $19.37 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. Anticipated growth in the coming period is likely to stem from the rise of electric and hybrid vehicles, advancements in flexible electronics, innovations in medical devices, ongoing urbanization and infrastructure development, and a heightened focus on sustainable materials. Key trends in the forecast period are expected to include a focus on customization and material engineering, collaborative efforts in research and development, advancements in Internet of Things (IoT) technologies, integration within 5G technology, and expanded applications of 3D printing.

The conductive plastic compounds market is anticipated to experience growth driven by the increasing production of automobiles. The automotive sector, a vital component of industrialization, has undergone substantial transformation with heightened production capacity. Notably, the rise in investment within the manufacturing sector has contributed to a surge in automobile production. As an example, BMW Manufacturing achieved a production milestone in January 2022 by manufacturing 433,810 BMW X automobiles in 2021. This upswing in automotive production is expected to be a key driver propelling the growth of the conductive plastic compounds market in the foreseeable future.

The conductive plastic compounds market is poised for growth due to the escalating demand in construction activities. Construction activities encompass a diverse range of tasks related to building and renovating structures, including buildings, infrastructure, and facilities. Conductive plastic compounds find applications in construction for creating anti-static flooring systems, effectively preventing static electricity buildup, safeguarding sensitive electronic equipment, and ensuring a secure working environment. The Office for National Statistics reported a substantial 15.3% increase, amounting to $122,296 million (Euro 115,579), in the value of new construction work in Great Britain in November 2021. This surge in demand for construction activities is a significant factor driving the growth of the conductive plastic compounds market.

A key trend gaining momentum in the conductive plastic compounds market is technological innovation. Major market players are actively engaged in research and development efforts to introduce technological advancements that offer additional benefits and enhance overall yield. These innovations provide companies with a competitive advantage. For example, in January 2022, OCSiAl, a Luxembourg-based nanotechnology company specializing in conductive and reinforced plastics, introduced a new graphene nanotube concentration for various thermoplastics, including polyamide (PA), filled PPS, ABS, TPU, and polycarbonate (PC). This innovation enables the incorporation of electrically conductive thermoplastic components without compromising the overall mechanical performance or durability, crucial for improving tracking and safety systems in automobiles.

Major players in the conductive plastic compounds market are strategically focusing on the development of bio-based conductive plastic compounds to bolster their market standing. Bio-based conductive plastic compounds represent an eco-friendly class of polymer blends sourced from renewable materials, showcasing electrical conductivity and applicability across various sustainable electronics and manufacturing applications. As an illustration of this trend, Arkema Inc., a prominent US-based chemical manufacturing company, introduced Rilsan Orange 7706 in June 2022. This specific product is tailored for high voltage insulation applications in electric vehicles. Rilsan T Orange 7706 is a versatile polymer with a 100% bio-based composition derived from castor oil. Designed as a primerless fluid bed dipping grade and polyamide 11 (PA11) polymer, it aims to achieve substantial thickness (500 µm) in a single dip. Notable characteristics include ease of processing, high flexibility, exceptional electrical insulation properties, and resistance to fire.

In June 2021, Sojitz Corporation, a leading Japanese trading company, executed a significant move in line with its strategic focus on next-generation technology and innovative materials. The company acquired a stake in 2D Materials Pte. Ltd., a Singapore-based chemical manufacturer established in 2015. This strategic investment underlines Sojitz's commitment to harnessing 2DM graphene technology as a pivotal nanomaterial. By aligning with 2D Materials Pte. Ltd., Sojitz positions itself to play a substantial role in advancing conductive plastic compounds through the utilization of high-performance graphene produced by the Singapore-based company. This strategic acquisition reinforces Sojitz's dedication to staying at the forefront of technological advancements and novel material development.

Major companies operating in the conductive plastic compounds market report are Adell Plastics Inc., BASF SE, Coperion GmbH, Dow Inc., LyondellBasell Industries Holding BV, Mexichem Specialty Compounds Inc., Polyvision Corporation, Ravago Holdings SA, RTP Company, Saudi Basic Industries Corporation, Sojitz Corporation, Celanese Corporation, Koninklijke DSM N.V., Agenzia Chimica Italiana SpA, A.Schulman Inc., Royal DSM, Borealis AG, Covestro AG, Solvay SA, PolyOne Corporation, Mitsubishi Chemical Corporation, Sumitomo Chemical Company Limited, LG Chem Ltd., Teijin Limited, Toray Industries Inc., Asahi Kasei Corporation, Arkema SA, DSM Engineering Plastics, Ensinger GmbH, Quadrant AG.

Asia-Pacific was the largest region in the conductive plastic compounds market in 2023. The regions covered in the conductive plastic compounds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the conductive plastic compounds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary resin types in conductive plastic compounds encompass polyethylene, polypropylene, polyvinyl chloride (PVC), polystyrene, engineering plastics, thermoplastic elastomers, and bioplastics. Polyethylene (PE) is a thermoplastic polymer and a part of the polyolefin resin family, composed of long chains created by ethylene monomer molecules through catalytic polymerization. Fillers used include carbon black, carbon fibers, carbon nanotubes, and metals. These compounds serve diverse industries including automotive, electrical and electronics, building and construction, packaging, industrial machinery, and medical devices.

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The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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