Post-consumer Recycled Plastics In Consumer Electronics Market Size, Share & Trends Analysis Report By Source (Non-bottle Rigid, Bottles) By Product (PC, PC/ABS, PET, PS, PP, ABS), By Application, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The post-consumer recycled plastics in consumer electronics market size was valued at USD 11.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028. Factors, such as the rising demand for e-waste in consumer electronics products, growing urbanization, increasing disposable income, and rapid industrialization across the world have propelled the demand for electronic equipment. Plastics, due to their durability, toughness, transparency, high heat and chemical resistance, and lightweight, have gained traction in electronic equipment such as laptops, smartphones, and other wearable electronic devices.

To cater to the rising demand for electronics from the growing population, end-use electronic industries are simultaneously upgrading smartphones, computers, laptops, smartwatches, and other consumer electronic devices. The COVID-19 pandemic propelled the demand for consumer electronic products, mainly laptops and mobile phones, due to the implementation of work-from-home policies across various countries. The life expectancy of plastics in consumer electronics is high, which has resulted in rising e-waste across the globe. The growing e-waste is a major problem due to the lack of waste management systems.

The environmental concerns arising from discarded electronic equipment and rising e-waste are being controlled by various countries. According to Plastics Europe, in 2020, European countries including Switzerland, Austria, the Netherlands, Germany, and Norway implemented landfill restrictions on recyclable waste. Switzerland, Austria, and the Netherlands have attained their targets of zero landfill. Plastic recycling has helped in controlling environmental issues, such as the addition of toxic substances into the soil microplastics entrapment in aquatic species, emission of greenhouse gases, and others, arising from plastic manufacturing to plastic dumping in landfills and oceans.

Moreover, the raw material for producing recycled plastic resins is economical compared to virgin plastics. Many plastic resin manufacturers have started producing post-consumer recycled plastic resins blended with virgin plastics. For instance, in November 2020, SABIC announced the expansion of its existing portfolio of polycarbonate resin, Cyloloy PC/ABS, and Lexan PC resin containing high levels of post-consumer recycled (PCR) plastic. Applications, where the recycled plastic resins will be used, include consumer electronics and accessories such as chargers & adapters, printers, copiers, and laptop housing. The ready availability and the increase in the plastic waste can prove to be a driving factor for the post-consumer recycled plastics market over the forecast period. Moreover, the use of e-waste can reduce the number of landfills across the globe.

Product Insights

The polycarbonate (PC) product segment led the post-consumer recycled plastics in consumer electronics market and accounted for more than 57.0% revenue share in 2020. The polycarbonate segment was the dominant product segment in 2020 and is anticipated to maintain its dominance over the forecast period. Properties such as higher toughness and impact strength, light transmittance, protection from ultraviolet (UV) radiations, and chemical and heat resistance make recycled PC resins suitable for use in electrical and electronic device components such as television frames, mobile cases, electrical housing, and others. The global demand for recycled PC polymer in electrical and electronics is expected to rise in the forthcoming years.

Recycled polystyrene provides toughness required in large applications such as TV housings and display units, along with the high flow characteristics needed for small, intricate components used in electronic devices. This combination of toughness and flow allows original equipment manufacturers (OEMs) to design complex, thin-walled parts while maintaining the strength required for electronic applications. The resin is expected to witness a rise in demand for technologically advanced electronic devices over the forecast period.

Source Insights

The non-bottle rigid segment led the market and accounted for the largest revenue share of more than 87% in 2020. Non-bottle rigid plastic recycling has witnessed significant growth in recent years with an increase in the purchase of difficult-to-recycle commodities such as mixed resin rigid bales by exporters, along with the growth in recovery and manufacturing of these commodities across the globe.

Manufacturers of consumer electronics, such as Panasonic Corporation; SONY Electronics Inc., Ltd.; Hitachi, Ltd.; and others, are moving toward the adoption of post-consumer recycled plastics foam over virgin plastics. These factors are anticipated to fuel the demand for non-bottle rigid plastics over the forecast period.

Plastics bottles are not among the prominent sources of recycled plastics and are rarely used for deriving the post-consumer recycled plastic resins for consumer electronics market growth. According to an article concerning increasing plastic waste, published by TheWorldCounts in 2019, one Thousand plastic bottles on average are used every minute, whereas only one out of five bottles are recycled and the rest of them end up in landfills and water bodies. Polyethylene terephthalate (PET) bottles contain harmful antimony, which may cause dizziness, depression, and even death

Application Insights

The laptop monitor enclosures segment led the market and accounted for the largest revenue share of more than 25.0% in 2020. Growing emphasis on sustainability and progressive efforts to reduce carbon footprint by various consumer electronics manufacturers has increased the demand for post-consumer recycled plastic resins in recent years. Laptop manufacturers such as Lenovo manufacture notebooks, desktops, workstations, monitors, and other accessories using post-consumer recycled plastic resins. This increase in the adoption of post-consumer recycled plastic resins is expected to continue over the forecast period.

Increasing concerns, such as environmental depletion, climatic changes, biodiversity loss, and others, due to the rise in plastic waste is a major concern among mobile phone manufacturers across the globe. In addition, the rising competitive environment due to high purchasing power across major economies, and rising disposable income of middle-income groups are major drivers for the mobile phone market. Furthermore, technological advancements and the easy operating interface of devices have increased the demand for mobile phones in every age group. Technology giants such as Motorola Mobility LLC have introduced devices made of post-consumer recycled plastics derived from used plastics bottles.

Region Insights

Asia Pacific region dominated the market and accounted for the largest revenue share of over 64% in 2020. China led the market in 2020, in terms of both volume and revenue in the region. The Asia Pacific market for post-consumer recycled plastics in consumer electronics is primarily driven by ascending product demand from applications such as TV frames, laptop monitor enclosures, LCD panels, portable hand-held devices, wearables, mobile phone bodies, appliances and white goods, and others. In addition, a well-established manufacturing base for consumer electronics in Taiwan, Japan, China, and South Korea among other countries is anticipated to provide further impetus to the market growth.

Moreover, the availability of cheap labor, as well as proximity to raw material suppliers, is further attracting investors to the region. The appliance and white goods industry has witnessed growth in recent years on account of rising disposable income and increasing demand for household appliances in emerging economies such as India and China. In addition, the presence of major household appliance manufacturers, such as LG Electronics, Haier Group, SAMSUNG, Siemens, Panasonic Corporation, and others, is expected to create opportunities for post-consumer recycled plastics in the region. Several benefits of post-consumer recycled plastics, such as lightweight, durability, and lower carbon footprint, are attracting manufacturers of consumer electronics toward the adoption of post-consumer recycled plastics.

Key Companies & Market Share Insights

The key players operating in the market are BASF SE, SABIC, Trinseo S.A., INEOS Styrolution Group GmbH, and Covestro AG, along with the presence of a few medium and small regional players. Leading market players compete based on their product development capabilities and new technologies used in product formulations. Established players such as SABIC are investing in the development of innovative and sustainable solutions for formulating new and advanced plastics that give them an edge over their competitors.

For instance, in April 2021, SABIC launched a new LNP THERMOCOMP compound, which is developed with over 50% post-consumer recycled (PCR) resins to ensure a significant reduction in carbon footprint. This compound can be used as a sustainable option for making housings of electrical and electronic devices. A majority of companies operating in the global market are expected to target Asia Pacific, North America, Europe, and the Middle East for their regional expansions owing to the high demand for recycled plastics for use in electrical and electronic devices in these regions. Some of the prominent players operating in the global post-consumer recycled plastics in consumer electronics market are:

• BASF SE

• SABIC

• Covestro AG

• Trinseo S.A.

• MBA Polymers Inc.

• INEOS Styrolution Group GmbH

• LAVERGNE, Inc.

• PolyVisions

Post-consumer Recycled Plastics In Consumer Electronics Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global post-consumer recycled plastics in consumer electronics market report based on source, product, application, and region:

• Source Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • Non-bottle Rigid

  • Bottles

  • Others

• Product Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • Polycarbonate (PC)

  • Polyethylene Terephthalate (PET)

  • Polystyrene (PS)

  • Polypropylene (PP)

  • Acrylonitrile Butadiene Styrene (ABS)

  • Polycarbonate/ Acrylonitrile Butadiene Styrene (PC/ABS)

• Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • TV Frames

  • Laptop Monitor Enclosures

  • LCD Panels

  • Portable Hand-held Devices

  • Wearables

  • Mobile Phone Bodies

  • Appliances & White Goods

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • Malaysia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia