The thermally conductive plastics market size is projected to reach USD 298 million by 2027, at a CAGR of 16.2% from USD 121 million in 2021. Asia Pacific was the largest market for thermally conductive plastics in 2021 owing to growth in electrical & electronics, telecommunications, and automotive industries. Miniaturization of electronic components is the major driver for the growth of thermally conductive plastics market. Technological advancement in power electronics and LED lighting technology is expected to increase the demand of thermally conductive plastics for during the forecast period. Rising adoption of electric vehicles and development of advance battery materials is also expected to increase the consumption of thermally conductive plastics during the forecast period. However, geopolitical uncertainties and low thermal conductivity of plastics hinders the growth of the market.
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The major players in the thermally conductive plastics market include Celanese Corporation (US), DSM (The Netherlands), SABIC (Saudi Arabia), BASF (Germany), DuPont (US), LANXESS (Germany), Mitsubishi Engineering-Plastics Corporation (Japan), Ensinger (Germany), TORAY INDUSTRIES, INC.( Japan), and KANEKA CORPORATION (Japan). These players have adopted various growth strategies to expand their presence in the market. New product launches and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global thermally conductive plastics market.
Celanese Corporation is one of the leading players engaged in manufacturing of high-performance thermally conductive plastics. The company manufactures thermally conductive plastics under the brand CoolPoly. Thermally conductive plastics offered by the company are ideal for housing of LED components, heat sinks, battery cell holders, and others. Celanese Corporation provides thermally conductive plastics based on polymers such as polyamide (PA), polycaprolactam (PA6), and polyphenylene sulfide (PPS) for automotive, electrical & electronics, industrial, telecommunication, and other end-use industries. In 2022, the company has entered into a definitive agreement to acquire DuPont’s mobility & materials business segment which includes specialty materials such as polyamide, polyester, and elastomers.
DSM is a leading player in development of performance materials and provides thermally conductive plastics under the brands Stanyl, Arnite, Xytron, and Akulon. The company offers thermally conductive plastics for electrical & electronics, automotive, industrial equipment, and others. DSM provides polyamide, PET, PBT, and PPS based thermally conductive plastics ideal for gears, lighting modules, thermostat housing, and other applications. The company has a global business presence with manufacturing facilities in North America, Europe, and Asia Pacific. In 2022, the company has established new compounding line in China for Stanyl, Akulon, and Arnite brands to cater electrical & electronics and automotive industries.
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Another important player in the thermally conductive plastics market is SABIC, a prominent thermally conductive plastics manufacturing company. It offers thermally conductive plastics under the brand KONDUIT in various polymers. SABIC develops thermally conductive plastics for LED heat dissipation applications in the automotive industry. The company has a manufacturing site across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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