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Evolving Consumer Preferences, Proliferation of Novel Devices, and Easier Access to Low-cost Internet Connectivity to Increase Demand
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Ever-evolving consumer preferences, growing urbanization and rising disposable incomes, rapid technological advancements, and the proliferation of affordable Internet connectivity, among other factors collectively entails a dynamic period for the global consumer electronics market, composed primarily of devices such as televisions, computing devices (laptops, desktops, and tablets), audio equipment, wearables, and cameras and camcorders. While conventional devices such as cameras and desktops continue to make way for advanced smartphones and tablets, the evolving use-cases for wearables and burgeoning sales of smart speakers, rapid adoption of larger, smarter televisions coupled with increasing growing focus on ensuring sustainability, are expected to have a marked impact on growth trajectories, especially for the materials used in the manufacture of the devices considered in this research service.Plastics and polymers, owing to their impeccable ability to affect weight and cost savings without compromising on aesthetics and functionality, have assumed primacy in the manufacture of such devices. Frost & Sullivan’s study titled “Plastics and Polymers used in the Global Consumer Electronics Market” is an attempt to gauge the level of impact that such developments are expected to have on the consumption of key plastics and polymers used in the manufacture of such devices. It focuses on quantifying the consumption of specific plastics and polymers across a considered set of applications from 2018 to 2025.The key materials considered in the study include Polycarbonate and ABS blends (PC/ABS); Polycarbonate (PC); Polystyrene (PS); Acrylonitrile Butadiene Styrene (ABS), Polymethyl Methacrylate (PMMA); and Thermoplastic Elastomers (TPEs). The applications under consideration in this study include televisions, wearables, computing devices, mobile phones, audio devices, and cameras and camcorders.In terms of plastics and polymers in the global consumer electronics market, Asia-Pacific has a dominant share in global consumer electronics output and accounted for approximately 80% overall market volume in 2018. Impending 5G revolution and significant strides towards a connected-world, growing preference for large-screen and smart televisions, and increasing preference for lightweight and aesthetically appealing devices, are expected to augur well for growth in the consumption of plastics and polymers for use in the considered set of applications over the forecast period.Increasing awareness and the growing menace of electronics waste accumulation across the globe coupled with stringent regulations governing the use of some materials are expected compel incumbents to focus on internalizing eco-design principles and use greener offerings. The study also analyzes current market size in terms of volume and revenue based on the weighted average prices of products in the marketplace. It also presents a seven year growth forecast (CAGR) for the segments under consideration.
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