The market for conductive polymer coatings is expected to grow at a CAGR of more than 5% during the forecast period.
- One of the key factors driving market is Growing demand from the electrical and electronic industry along with high growth in the solar industry.
- Asia-Pacific is estimated to dominate the market with the largest consumption coming from China.
Key Market Trends
Electrical and Electronic Industry is Expected to Dominate the Market
- Conductive polymer coatings are developed using the organic polymer materials that conduct electricity. The optical and electrical properties of these polymers can be fine-tuned by advanced dispersion and organic synthesis techniques to develop high performance coatings, especially for electronics.
- The conductive polymer coatings find application in sensors, capacitors, actuators along with corrosion resistance applications in electrical storage devices and organic solar cells. They are also used for medical-device applications where electrode sensitivity and signal fidelity are critical such as Electrophysiology mapping devices, Rehabilitation wearables along with Health and fitness monitoring devices.
- The conductive polymer coatings are also extensively used in electrical and electronics industry. These coatings are viable alternative for hazardous heavy metal coatings in the electronic devices as they are less toxic and less damaging to environment as compared to metals. Due to these advantages they are extensively used for transparent conductive applications like flat screen displays for computers, mobile phones, tablets, and other screens. Huge demand for these devices is fueling the growth of conductive polymer coatings market in the electrical and electronics industry.
Asia-Pacific to Witness Significant Growth
Asia Pacific is expected to grow significantly during the forecast period while North America is also expected to experience healthy growth. Rising demand of LCD, phone, computers, calculators, and other electronic products is paving the growth for conductive polymer coatings market. China is the world largest electronics manufacturing hub due to their established supply chain and low manufacturing costs which is supporting large consumption of conductive polymer coatings in the region. Another Asian giant India is one of the largest electronics markets in the world which is anticipated reaching USD 400 billion by 2025 and its Consumer Electronics and Appliances Industry is expected to become fifth-largest in the world by 2025. The solar industry growth is also adding to the expansion of conductive polymer coatings market in the region. These will contribute to the high growth of conductive polymers market in the Asia-Pacific. Asia-Pacific is followed by North America in the consumption of conductive polymer owing to presence of huge medical device industry in the region.
The market studied is consolidated in nature. Some of the key players in the market include Heraeus Holding, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, AnCatt Inc., among others.
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