PUBLISHER: Grand View Research | PRODUCT CODE: 1679365
PUBLISHER: Grand View Research | PRODUCT CODE: 1679365
The global plastics in consumer electronics market size is anticipated to reach USD 7.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 2.5% from 2025 to 2030. Increasing demand from the smartphone & wearable products industry is anticipated to fuel the demand for plastics in consumer electronics. The smartphone market offers opportunities for usage of a variety of plastic resins, such as Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Polymethyl Methacrylate (PMMA), as they are used for manufacturing housings for electronic devices, mounting frames, display frames, and vibration cushions that are lightweight and durable.
Proximity to raw material suppliers and low labor costs are attracting consumer electronics manufacturers in China. The presence of several key consumer electronics manufacturers is anticipated to create significant demand for plastics. Furthermore, increasing demand for appliances in India is anticipated to boost product demand across the electronics industry. In addition, rapid urbanization is expected to propel the demand for mobile phones, laptops, television, and other electronic appliances across India.
Metal alloys have been vastly used for manufacturing electronic components. Alloys are preferred due to their durability and better heat-conducting property. For example, aluminum alloys of grade 7000 series and 6000 series are used mainly in the chassis of laptops or sometimes for their entire casing. For instance, the bottom chassis of Apple's Mac book is made up of aluminum. iPhone and iPad bodies are made of aluminum alloys as well.
The technology lifespan of consumer electronics is less as post the launch of the product, the competitors undergo reverse engineering processes to develop a similar or updated version of the technology. Hence, the older versions of products are often discarded by consumers. With the growth of technologically advanced equipment, there is no significant system to manage the discarded old products, which has resulted in the growth of e-waste.