Plastics in Electronics Components Market Analysis, Trends, and Forecasts, 2016 Through 2024
The global plastics in electronics components market is anticipated to experience a staggering growth as the demand for plastic in electronics and electrical is on the rise. Telecommunications, automotive, medical, and electronics are some of the major end-use industries of plastics in electronics components market. Polyamides, polyethylene, nylons, epoxy resins, polysulfones, polyphthalamides, polyesters, and polycarbonates are some key forms of plastics that are used in electronic components.
The insulation properties of plastic account for its extensive use in electric and electronic components of machines and gadgets. These include bobbins, connectors, printed circuit boards, and components.
The report divides the global plastics in electronics components market based on application and geography. Based on geography, Asia Pacific is anticipated to emerge lucrative in the near future.
The report on the global plastics in electronics components market prepared by seasoned analysts takes into account the various primary and secondary business needs of market stakeholders. Using standard analytical tools and proven research methodologies, the key factors of the worldwide plastics in electronics components market have been expansively examined in the report.
The rising demand for plastics in electronic components due to the cost factor and time-consuming nature of conventional procedures of manufacture of electronic circuits is the chief factor driving the worldwide market for plastics in electronics components. This is leading to the swift uptake of plastic in electric components.
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The increasing preference for plastics in electronic components is attributed to the ultra-thin and high efficiency characteristics along with long shelf life imparted to these components. This is leading to the deployment of plastic in electronic components used in infotainment systems, driving assistance systems, and automobile control systems. Technological advances and product development that have led to the emergence of newer materials such as liquid crystal power (LCP) and polyphenylene sulfide compounds have replaced ceramic components conventionally used in electronic components. This is also a key factor driving the global plastics in electronics components market.
The adoption of cloud computing practices and ubiquity of Internet of Things (IoT) have also been fuelling the demand for plastics in electronics components.
On the contrary, environmental concerns pertaining to disposal of plastic is likely to slower the market’s growth to some extent. Nevertheless, the development of printed electronics and the rising trend of usage of eco-friendly plastic components in electronics will provide growth opportunities to the worldwide market for plastics in electronics components.