Published on : May 21, 2018
Albany, New York, May 21, 2018: Plastic is one of the crucial materials which is widely used in the manufacture of different electrical appliances. Hence, development of the plastics market for electrical appliances is primarily driven by the rise in demand for electrical appliances and versatility offered by plastics over other materials. Considering these facts, Market Research Hub (MRH) has publicized a new study to its massive online repository, which is titled as “Plastics Market for Electrical Appliances - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”. The report discusses the historic and current scenario of the global plastic market for electrical appliances, along with the future prospects it holds for 8 year assessment period, 2017-2025.
Key Highpoints from the Market
In the present time, electrical appliances have beaten the ’luxury goods’ title and have become necessary goods due to rising standard of living and changing lifestyles. Numerous components of electrical appliances such as body packaging, buttons, handles, and trays, can be easily micro-molded with plastics to manufacture precision parts with tight tolerance. Due to this, the market for plastic electrical appliances has gained huge momentum in recent years. As per the estimations, demand for electrical appliances across the world is anticipated to increase at 6.6% per annum during the forecast period, thus offering substantial demand for plastics.
The initial part of the report elaborates on all the significant factors that are expected to play a crucial role in shaping the growth of the global market over the aforementioned period. These factors include key drivers, restraints, latest trends, and upcoming opportunities that are likely to hold an impact on the performance of the global plastic market for electrical appliances. In addition, the executive summary covers an overview of the market and offers global market size in terms of value as well as volume, in addition to yearly and compound annual growth rates (CAGR). In terms of revenue, the global plastics market for electrical appliances was valued at US$ 15.8 Bn. The market is anticipated to expand at a CAGR of 7.5% between 2017 and 2025.
Moving further, the research throws light on geographical regions where the market stands to gain. It has been identified that North America, Europe, and Asia Pacific are highly attractive markets for plastics, in terms of both volume and revenue.
The global plastic market for electrical appliances has been segmented on the basis of resin, and appliances. These segments have been analyzed based on the present and future trends. By resin, the study covers Polycarbonate (PC), Polyvinyl Chloride (PVC), Polypropylene (PP), Polyamide (PA), Acrylonitrile Butadiene Styrene and Styrene-acrylonitrile (ABS & SAN), Polystyrene (PS), Low-density Polyethylene (LDPE/LLDPE) and others. Some of the appliances covers in the study include Refrigeration Appliances (RA), Dishwashers (DW), Microwaves (MW), Home Laundry Appliances (HLA), Air Treatment Products (ATP) etc.
Another crucial part of the research report is market’s competitive landscape. It includes a brief on all the leading companies in the market and their main strategies. Few of them include Saudi Basic Industries Corporation (SABIC), Ineous Styrolution, LG Chem Ltd., ExxonMobil Corporation, LANXESS, Trinseo, Covestro AG, Toray Industries, Inc., Reliance Industries Limited, Asahi Kasei Corporation, Mitsubishi Chemicals Corporation, Koninklijke DSM N.V., Eni S.p.A., Hanwha Total Petrochemical Co. Ltd., GS Caltex, and SK Chemicals.
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