The North America Thermally Conductive Plastics Market would witness market growth of 12.7% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 5,946.8 tonnes, showcasing a growth of 32.9% (2020-2023).
As a thermoplastic polymer, polycarbonate offers a unique combination of properties, making it a preferred choice for applications requiring thermal management, such as LED lighting, automotive components, and electronics enclosures. Its inherent flame resistance and high impact strength add to its appeal in demanding environments. Despite facing competition from other thermally conductive materials, polycarbonate stands out for its optical clarity and dimensional stability, allowing for versatile design possibilities. Thus, in Canada, 327.2 tonnes of Polycarbonate thermoplastic utilized in 2023.
The US market dominated the North America Thermally Conductive Plastics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $102,635.6 Thousands by 2031. The Canada market is exhibiting a CAGR of 15.1% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 14.2% during (2024 - 2031).
The market refers to the industry involved in the production, distribution, and utilization of plastics that possess thermal conductivity properties. These plastics are engineered to efficiently transfer heat away from electronic components, machinery, and other applications where effective thermal management is crucial.
The applications of thermally conductive plastics are diverse and widespread, spanning various industries where efficient heat dissipation and lightweight solutions are critical. Electronics manufacturers frequently utilize thermally conductive plastics to provide heat sinks for gadgets like computers, tablets, smartphones, and LED lighting fixtures. These materials help dissipate heat generated by electronic components, preventing overheating and prolonging the device’s lifespan.
Thermally conductive plastics can be integrated into circuit board substrates to enhance thermal management in electronic devices. By embedding thermally conductive fillers within the polymer matrix, manufacturers can improve heat dissipation and optimize the performance of electronic circuits.
With high automotive production in Mexico, there would likely be a greater demand for thermally conductive plastics. These materials are used in various automotive components, such as LED lighting systems, engine cooling systems, battery thermal management systems, and electronic control units (ECUs). As the automotive sector expands, so does the need for these components, thus driving the demand for thermally conductive plastics.
According to the International Trade Administration (ITA), Mexico is the world’s seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually. Eighty-eight percent of vehicles produced in Mexico are exported. Mexico is the world’s fifth-largest manufacturer of heavy-duty vehicles for cargo, hosting 14 manufacturers and assemblers of buses, trucks, and tractor trucks, as well as two manufacturers of engines. Therefore, the region’s robust auto industry and rising healthcare budget drive growth.
Free Valuable Insights: The Thermally Conductive Plastics Market is Predict to reach USD 402.5 Million by 2031, at a CAGR of 13.5%
Based on Type, the market is segmented into Polyamide, Polycarbonate, Polyphenylene Sulfide, Polyetherimide, Polybutylene Terephthalate, Polysulfones, and Others. Based on End-use, the market is segmented into Electrical & Electronics, Automotive, Industrial, Aerospace, Healthcare & Pharma, Telecommunications, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Tonnes, USD Million, 2020-2031)
By End-use (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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