In 2020, the post-consumer recycled materials market in consumer electronics was worth USD 11.4million. It is projected to grow at an 8.6% compound annual growth rate (CAGR), between 2021 and 2028. Electronic equipment demand has been driven by several factors, including the growing demand for ewaste in consumer electronics products and the increasing disposable income. Because of their strength, toughness and transparency, as well as their light weight, plastics have been popular in electronic equipment like smartphones and laptops.
End-use electronic industries are upgrading smartphones, computers and laptops to meet the increasing demand from the growing population. Due to various countries implementing work-from-home policies, the COVID-19 pandemic boosted consumer electronics products, especially laptops and smartphones. E-waste has increased worldwide due to the high life expectancy for plastics in consumer electronics. Due to a lack of waste management systems, e-waste is on the rise.
Different countries are taking steps to address the environmental issues posed by discarded electronics and growing e-waste. Plastics Europe reports that in 2020, several European countries, including Norway, Switzerland, Austria and the Netherlands, implemented landfill restrictions for recyclable waste. The Netherlands, Austria, Switzerland and Switzerland have all reached zero landfill. Plastic recycling has contributed to environmental problems such as microplastics entrapment and emission in aquatic species and toxic substances in soil.
Additionally, recycled plastic resins are more economical than virgin plastics because they can be made from the same raw material. Many plastic resin producers have begun producing recycled plastic resins that are blended with virgin materials. SABIC, for example, announced in November 2020 that it would be expanding its portfolio of polycarbonate resins, Cyloy PC/ABS and Lexan PC resin, which contain high levels of post-consumer (PCR) plastic. The recycled plastic resins can be used in a variety of applications, including consumer electronics and accessories like chargers & adapters and printers, copiers, copiers and laptop housings. Over the forecast period, the demand for recycled plastic resins can be driven by the increasing availability of plastic waste. E-waste can also be used to reduce landfills around the world.
The plastic polycarbonate (PC), product segment dominated the post-consumer recycled materials in consumer electronics market. It accounted for over 57.0% of the total revenue share in 2020. In 2020, the polycarbonate segment was dominant and will continue to be so for the forecast period. Recycled PC resins are suitable for use in electronic and electrical device components, such as TV frames, mobile cases, and electrical housing. In the coming years, there will be a rise in demand for recycled plastic polymer in electronics and electrical.
The toughness of recycled polystyrene is required for large applications like TV housings and display unit, as well as the high flow characteristics that are needed for smaller, intricate parts used in electronic devices. The combination of flow and toughness allows original equipment manufacturers (OEMs), to create complex, thin-walled parts that still maintain the strength necessary for electronic applications. Over the forecast period, there will be a rise of demand for electronic devices that are technologically advanced.
Non-bottle rigid was the dominant segment of the market, accounting for more than 87% of the total revenue in 2020. The non-bottle rigid segment of plastic recycling has seen significant growth over the past few years due to an increase in exporters' purchase of hard-to-recycle commodities like mixed resin rigid bales, as well as the expansion in recovery and manufacture of these commodities around the world.
Consumer electronics manufacturers, including Hitachi, Ltd., SONY Electronics Inc., Ltd., Hitachi, Ltd., and Panasonic Corporation, are shifting towards the use of post-consumer recycled foams over virgin plastics. These factors will fuel the demand of non-bottle rigid polymers over the forecast period.
Plastic bottles aren't a prominent source of recycled plastics. They are seldom used to make the post-consumer plastic resins needed for the growth of the consumer electronics market. According to TheWorldCounts' 2019 article on plastic waste, one thousand plastic bottles are used per minute. Only one in five bottles is recycled, and the rest end up in landfills or water bodies. The harmful antimony in polyethylene terephthalate bottles (PET), can cause dizziness, depression and even death.
The market leader in laptop monitor enclosures was the highest-earning segment and earned more than 25% of the total revenue share in 2020. In recent years, the demand for recycled plastic resins has grown due to increased sustainability and ongoing efforts by many consumer electronics manufacturers to reduce their carbon footprint. Manufacturers of laptops such as Lenovo make notebooks, workstations and monitors using post-consumer plastic resins. The forecast period will see an increase in post-consumer recycling plastic resins.
Mobile phone manufacturers around the world are concerned about rising plastic waste. This has led to increasing environmental degradation, climatic change, biodiversity loss and other concerns. The mobile phone market is also driven by the growing competitiveness of major economies and the increasing disposable income of middle-income families. The ease of use and technological advances have increased demand for mobile phones across all ages. Motorola Mobility LLC, a technology giant, has introduced devices made from post-consumer recycled plastics derived largely from plastics bottles.
The Asia Pacific region was the dominant market, accounting for 64% of the total revenue in 2020. China dominated the market in 2020 in terms both of volume and revenue. Asia Pacific's market for post-consumer plastics in consumer electronics is driven primarily by rising product demand from applications like TV frames, laptop monitor enclosures and LCD panels, portable handheld devices, white goods, appliances, white goods and wearables. The market will also benefit from a strong manufacturing base in Taiwan, China, South Korea, Japan, China and other countries.
Investors are attracted to the region by the low cost of labor and proximity to raw material suppliers. In recent years, the appliance and white goods industries have seen growth due to rising disposable incomes and increased demand for appliances in emerging countries like India and China. The presence of large household appliance manufacturers such as LG Electronics and Haier Group, SAMSUNG Siemens, Panasonic Corporation, among others, will create opportunities for postconsumer recycled plastics. Post-consumer plastics have several benefits, including lightweight, durability, and a lower carbon footprint. This is driving manufacturers of consumer electronics to adopt post-consumer plastics.
SABIC, Trinseo S.A. and INEOS Styrolution Group GmbH are the key players in the market. There are also a few small regional players. Market leaders compete on the basis of their product development capabilities as well as new technologies used in product formulations. Established players like SABIC invest in innovative and sustainable ways to create new plastics. This gives them an advantage over their competition.
SABIC, for example, launched an LNP THERMOCOMP compound in April 2021. It is made with more than 50% post-consumer recycled resins (PCR) to reduce carbon emissions. This compound is a viable option for housing electronic and electrical devices. Due to the high demand in recycled plastics in these regions for electrical and electronic products, the majority of global companies will target Asia Pacific, North America and Europe for regional expansion. The following are some of the major players in the global market for post-consumer recycled consumer plastics in electronics:
BASF SE
SABIC
Covestro AG
Trinseo S.A.
MBA Polymers Inc.
INEOS Styrolution Group GmbH
LAVERGNE, Inc.
PolyVisions
Up Market Research published a new report titled “Post-consumer Recycled Plastics In Consumer Electronics Market research report which is segmented by Product (PET, PC/ABS, PS, PC, ABS, PP), by Source (Bottles, Non-bottle Rigid), By Players/Companies INEOS Styrolution Group GmbH, BASF SE, MBA Polymers Inc, PolyVisions, SABIC, LAVERGNE Inc, Covestro AG, Trinseo SA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Post-consumer Recycled Plastics In Consumer Electronics Market Research Report |
By Product | PET, PC/ABS, PS, PC, ABS, PP |
By Source | Bottles, Non-bottle Rigid |
By Companies | INEOS Styrolution Group GmbH, BASF SE, MBA Polymers Inc, PolyVisions, SABIC, LAVERGNE Inc, Covestro AG, Trinseo SA |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 209 |
Number of Tables & Figures | 147 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (PET, PC/ABS, PS, PC, ABS, PP), by Source (Bottles, Non-bottle Rigid).
Post-consumer Recycled Plastics In Consumer Electronics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Post-consumer Recycled Plastics In Consumer Electronics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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