Global Electronics Consumer Goods Plastics Market Highlights Over 2022 - 2031

The global electronics consumer goods plastics market is estimated to garner around USD 59 billion in revenue by 2031 by growing at a CAGR of nearly 6% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to increasing demand for plastics in consumer goods owing to their lightweight properties, low cost and superior impact, and corrosion resistance products. Additionally, the increasing population and rising demand for consumer gadgets are also expected to boost market growth. For instance, nearly 1.5 billion smartphones were sold worldwide, in 2021, while the sales volume of television was nearly 550 million units.

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The COVID-19 pandemic altered how consumers shop and became a huge disruptor for the electronics consumer goods plastics market as manufacturing sectors worldwide had shut down operations due to lockdown imposed by the governments. This affected demand and supply chain of products which disrupted the whole functioning process adversely.

Further, an increasing demand for more sustainably and ethically produced products across the whole consumer goods spectrum, and rising awareness towards e-waste management, along with strict regulations by several governments regarding plastic waste disposal are the key factors expected to hamper the market growth. Moreover, increasing raw material prices are also restraining the growth of the market.  

The market is segmented by application into household appliances, consumer electronics, toys, and others. Among these segments, the household appliances segment is anticipated to hold the major share over the forecast period. In 2020, global retail sales of major and small appliances amounted to more than USD 400 billion. The growth can be attributed to the increasing disposable income and improving living standards.

Global Electronics Consumer Goods Plastics Market Regional Synopsis

Regionally, the global electronics consumer goods plastics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period on the back of increasing population, improving lifestyles, and global industry players increasingly choosing to outsource production in the region. Additionally, China has been dominating the consumer electronics industry in production terms and is expected to continue leading the production volume globally. The consumer electronics production volume in China is expected to reach 2.1 billion units by 2026. This is expected to drive the market growth of the region further.

Market Segmentation

Our in-depth analysis of the global electronics consumer goods plastics market includes the following segments:

By Type

• Polyethylene

• Polyvinyl Chloride

• Polystyrene

• Polypropylene

• Others

By Application

• Household Appliances

• Consumer Electronics

• Toys

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Electronics Consumer Goods Plastics Market

Growth Drivers

• Increasing population and rising demand for consumer gadgets

• Increasing demand for plastics in consumer goods

Challenges

• Increasing demand for more sustainably and ethically produced products

• Rising awareness towards e-waste management along with strict regulations

• Increasing raw material prices

Key Companies Dominating the Global Electronics Consumer Goods Plastics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global electronics consumer goods plastics market that are included in our report are BASF SE, Dow, Celanese Corporation, Trinseo, Dun & Bradstreet, Inc., Covestro AG, Chevron Phillips Chemical Company LLC, Mitsubishi Chemical Holdings Corporation, DuPont, Solvay, Exxon Mobil Corporation, and others.

Latest Developments in the Global Electronics Consumer Goods Plastics Market:

• October 2021: Exxon Mobil Corporation formed its first, large-scale plastic waste advanced recycling facility in Baytown, Texas, to make plastic and other valuable products.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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