United States Plastic Resin for Electrical Appliances Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 5.0 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The U.S. market for plastic resins in electrical appliances is experiencing significant growth, propelled by the increasing demand for durable, lightweight, and cost-effective materials. These resins are essential in manufacturing components that ensure the functionality and longevity of various electrical appliances.
In 2023, the U.S. plastics in electrical and electronics market generated revenues of approximately USD 5.2 billion, with projections suggesting an increase to USD 7.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.2% during this period. Polyvinyl Chloride (PVC) emerged as the leading polymer, accounting for a substantial revenue share and demonstrating the fastest growth rate among its counterparts. Other notable polymers include Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), and Polyurethane (PU), each contributing to the diverse applications within the electrical appliances sector. citeturn0search0
The preference for plastic resins in electrical appliances is driven by their ability to meet stringent requirements such as electrical insulation, heat resistance, and mechanical strength. For instance, PVC's versatility makes it suitable for various applications, while ABS is favored for its impact resistance and aesthetic appeal. The selection of resin types is often influenced by the specific demands of the appliance, including durability, safety, and cost-effectiveness.
Regional analyses indicate that North America, with the U.S. at its core, is a significant player in the plastics market for electrical appliances. The market is projected to reach approximately USD 31.6 billion by 2025, with a notable portion attributed to U.S. consumption. citeturn0search7 This growth is supported by the presence of major resin manufacturers and a robust manufacturing infrastructure, fostering innovation and meeting the evolving needs of the electrical appliances industry.
Incorporating plastic resins into electrical appliances offers several advantages, including weight reduction, design flexibility, and cost savings. However, manufacturers must navigate challenges related to material selection, environmental concerns, and regulatory compliance. The ongoing development of sustainable and high-performance resins is crucial to address these challenges and support the industry's growth trajectory.
As the market continues to evolve, staying abreast of technological advancements and market trends is essential for stakeholders. Engaging with industry reports, attending relevant conferences, and participating in professional forums can provide valuable insights and foster collaboration, driving innovation and ensuring the continued success of plastic resins in electrical appliances.
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LyondellBasell
Sinopec
PetroChina Group
Shin-Etsu Chemicals
INEOS
Borealis
SABIC
Exxon Mobil
Reliance Industries
Formosa Plastics
SCG
Trinseo
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Plastic Resin for Electrical Appliances Market
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Polyethylene (PE)
Polycarbonate (PC)
Acrylonitrile Butadiene Styrene (ABS)
Polystyrene (PS)
Household Appliances
Commercial Appliances
Personal Care Appliances
Heating, Ventilation, and Air Conditioning (HVAC) Systems
Information Technology Equipment
Thermal Stability
Impact Resistance
Electrical Insulation Properties
Chemical Resistance
Flame Retardancy
Injection Molding
Blow Molding
Extrusion
Thermoforming
3D Printing
Original Equipment Manufacturers (OEMs)
Aftermarket Suppliers
Distributors and Wholesalers
Retailers
Repair and Maintenance Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Plastic Resin for Electrical Appliances Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Plastic Resin for Electrical Appliances Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Plastic Resin for Electrical Appliances Market, By Type
6. US Plastic Resin for Electrical Appliances Market, By Application
7. US Plastic Resin for Electrical Appliances Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Plastic Resin for Electrical Appliances Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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