Plastics consumption in electronic components to grow at rates over GDP

21-Jan-16

Overall, plastics consumption in electronic components had been growing at rates well above those of growth in gross domestic product for many years, as per Reportlinker. Electronic products have invaded virtually all areas of our personal and business lives, and their levels of sophistication continue to increase. The amount of electronics in automobile control, driver assist and infotainment systems is rising rapidly. Cloud computing is carried out on a massive scale, and now the Internet of Everything is connecting devices as well as people. At the same time, the tendency of many personal electronics to become fashion items has reduced product life cycles, with each new product generation putting new demands in performance and especially cost on the materials that go into them. In addition, the increasing visibility of electronic devices, most notably in mobile devices (smartphones and tablets), has been a key driver in pushing electronics companies to use more "environment-friendly" technologies and materials in their products. Other details include: - The global electronic component totaled 3.6 bln lbs in volume in 2014. This market should reach nearly 3.8 billion pounds in 2015 and more than 4.4 bln lbs by 2020, demonstrating a compound annual growth rate (CAGR) of 3.3% from 2015 to 2020. - The global thermoplastic market should reach nearly 2.7 bln lbs n 2015 and 3.2 bln lbs by 2020, with a CAGR of 3.8% for 2015-2020. - The global thermoset market should total nearly 1.1 bln lbs in 2015 and 1.2 bln lbs by 2020, with a CAGR of 2.0% through 2020.