The market for electrically conductive coating is expected to register a CAGR of approximately 6% during the forecast period.
- The rising number of applications for anti-static protection and growing demand from electrical and electronics are driving the market growth.
- Toxic nature and government regulations on environmentally damaging products are expected to hinder the market's growth.
Key Market Trends
Growing Demand from Electrical and Electronics
- Electrically conductive coatings are used for anti-static protection and electromagnetic shielding of electronic equipment. Electrically conductive coatings especially find their application in electronics and the aerospace sector, among others.
- Electrically conductive coatings use different types of various materials, such as acrylics, epoxy, and polyesters. Among these, epoxies are scratch-resistant and used for strong chemical resistance, abrasion and impact resistance, and high durability.
- Acrylics are the most common coating types that are used on electronics, satellite dishes, and electronic-board level applications.
- Pigments, combined with chemistries, offer better shielding to electronics and electro-medical apparatus that emit electromagnetic waves. These materials are majorly used to prevent electro-static and electromagnetic interferences (EMI).
- Increasing technological advancements in electronics, growing demand for safety electronic boards, growing demand from the construction and aerospace sectors, are expected to drive the market for electrically conductive coatings through the coming years.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the overall market, owing to the highly developed electronics sector in China, Japan, and South Korea, coupled with the continuous investments done in the region to advance the aerospace and automotive technology sectors through the years.
- The demand for electronics, such as mobiles, televisions, tablets, keyboards, and laptops, has been significantly increasing due to the adoption of technological improvements in the region. China, Japan, and Taiwan host a large number of electronic manufacturing plants in the region.
- Recently, the use of electric vehicles in Asia-Pacific has been increasing due to the supporting government policies and growing investments. Hence, the demand for electrically conductive coatings from the automobile sector is increasing.
- According to GFU Consumer & Home Electronics, Asia-Pacific leads the global consumer electronics sales market. China, Vietnam, and Taiwan have electronic manufacturing units and majorly export electronic goods to other countries.
- The increasing electric vehicles market, growing electrical technology, and expansions in the aerospace and defense sectors are expected to drive the market for electrically conductive coatings through the coming years.
The electrically conductive coating market is partially consolidated in nature, with a few major players dominating a significant portion of the market. Some of the major companies are Akzo Nobel NV, Henkel AG & Co. KGaA, Sherwin-Williams, PPG Industries Inc., and Axalta Coating Systems.
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