Market Trends of france engineering plastics Industry
Technological innovations may increase electrical and electronics production
- The rapid pace of technological innovation in the electrical and electronics industry is driving consistent demand for newer and faster electrical and electronic products, thus boosting their production in France. In 2022, France was the second-largest producer of electrical and electronic products, accounting for 8.1% of the European market.
- In 2020, the country's electrical and electronic production decreased by 13.7% in terms of revenue compared to the previous year, owing to country-wide lockdowns and the temporary shutdown of manufacturing facilities, leading to disruptions in supply chains and import and export trade. In 2021, France's consumer electronics exports reached EUR 1.36 billion, 16.4% higher than in 2020. As a result, electrical and electronic production in France recorded a growth rate of 27.5% by revenue in 2021 compared to the previous year.
- The French electronics industry is expected to grow due to rising government investments. It is expected to receive more than EUR 5 billion in investment by 2030 for the development and industrialization of electronic technologies. The demand for advanced technologies such as virtual reality, IoT solutions, 5G connectivity, and robotics is expected to grow during the forecast period. Due to technological advancements, the demand for consumer electronics is expected to rise during the forecast period. By 2027, the sales of consumer electronics in the country are projected to grow by 11.9% and generate a market value of USD 19.3 billion.
Understand The Key Trends Shaping This Market
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Civil aviation sector to increase the demand for aerospace components
- Elimination of housing tax and government regulations boost the construction industry
- Polyamides to remain as the highest-traded resin in France
- French government's new law 2020-105 aimed to recycle 100% of plastics by 2025
- France had a recycling rate of 54% in 2021 with total PET waste accounting for 1.44 million tons
- Government policies supporting electric mobility may boost automotive production
- Flexible packaging to boost the demand for plastic packaging
- Rising crude oil prices to impact the prices of engineering plastics
- Mechanical recycling of polycarbonate plastics to be challenging because of the poor quality of the recovered material
- France generated over 1.3 million tons of WEEE in 2019 which could be an opportunity for manufacturers to produce R-ABS
