Plastics Market for Electrical Appliances (by Product Analysis (Polycarbonate (PC), Polypropylene (PP), Acrylonitrile Butadiene Styrene and Styrene-acrylonitrile (ABS & SAN), Low-density Polyethylene (LDPE/LLDPE), Polystyrene (PS), Polyvinyl Chloride (PVC), Polyamide (PA), Others)-by Electrical Appliances (Refrigeration Appliances (RA), Home Laundry Appliances (HLA), Dishwashers (DW), Air Treatment Products (ATP), Microwaves (MW), Small Cooking Appliances (SCA), Vacuum Cleaners (VC), Food Preparation Appliances (FPA), Personal Care Appliances (PCA), Irons (IR), Others)-by Application (Household appliances, Consumer Small Appliances, Consumer Electronics, Lighting equipment, Toys, Winter Sports, Sport Shoes, Jewelry) –by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) – is expected to reach US$ 30.2 Bn by 2026 at a CAGR of 8.5%.
Plastics offer a wide range of favourable attributes that enable them to be utilized in design and development of various electronics & electrical appliances. Plastics are inseparable and the fundamental material used for manufacture of electrical appliance components. Plastics are easier to process and provide flexibility to design ergonomic devices. Plastics can be easily moulded and have excellent finishing which makes it an ideal choice across several applications.
Growing demand for plastics in other applications including packaging, construction, and automotive, which is expected to lower its availability for electronics and consumer goods application. The plastics market for electrical appliances is dominated by few major manufacturers, while the remaining share is highly fragmented. Several resins are used in the manufacture of electrical appliance components. Several manufacturers offer a wide variety of resins in various grades for various applications. Furthermore, manufacturers increase their sales force by expanding and strengthening their distribution networks.
Increase in demand from refrigeration appliances, home laundry appliances, and air treatment products during 2018-2026
In terms of electric appliances, several components of electrical appliances such as body packaging, buttons, handles, and trays, can be easily micro-moulded with plastics to manufacture precision parts with tight tolerance. Demand for refrigeration appliances, home laundry appliances, and air treatment product is a rise in at a substantial rate. Rise in population coupled with an increase in disposable income is a key factor propelling the demand for these appliances.
Increasing demand for polypropylene, ABS, and polystyrene during 2018-2026
In terms of product analysis, polypropylene demonstrates impressive moulding properties, which provide plastic moulders with freedom of design. Polypropylene can also be easily blended with other polymers to induce the required properties, making it a versatile option for manufacturing of components. Polypropylene is anticipated to witness a significant increase in demand during the forecast period. Similarly, ABS is a stable resin and has high chemical and heat resistance. It can be used in appliances that are subjected to high heat and chemicals. Polystyrene is a key resin that is utilized in refrigerators and air treatment products.
The major fashion brands including Missoni and Prada are coming up with innovative plastic designs jewellery segment, which is likely to have a positive impact on the industry growth
In terms of application, the major fashion brands including Missoni and Prada are coming up with innovative plastic designs jewelry segment, which is likely to have a positive impact on the industry growth. Plastics are lightweight and can be easily moulded, and coloured which makes them a suitable material for jewelry manufacturing will anticipate propelling the demand for jewelry segment in the forecasting period.
The Asia Pacific is projected to be a lucrative region of the plastics market for electrical appliances in 2017
In terms of region, Asia Pacific is projected to be a lucrative region of the plastics market for electrical appliances as the presence of numerous manufacturing facilities for electronic products in the region has elevated the demand for plastics in the Asia Pacific. Europe currently holds a significant share of the Plastics market for electrical appliances.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Ineous Styrolution, LG Chem Ltd., BASF SE, Saudi Basic Industries Corporation (SABIC), ExxonMobil Corporation, LANXESS, Trinseo, Covestro AG, Toray Industries, Inc., LyondellBasell, Asahi Kasei Corporation, Mitsubishi Chemicals Corporation, Koninklijke DSM N.V.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the plastics market for electrical appliances. The report encompasses the market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the plastics market for electrical appliances. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain plastics market for electrical appliances positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on https://www.maximizemarketresearch.com/market-report/plastic-market/11886/
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