Global Conductive Coatings Market Expected to Reach $24,360 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, December 7, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Conductive Coatings Market by Material and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global conductive coatings market was valued at $15,120 million in 2016, and is projected to reach at $24,360 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The metal compounds segment accounted for approximately half of the share in the conductive coatings market in 2016, and is expected to maintain its lead throughout the forecast period.
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Conductive coatings are used to provide a shielding effect for protecting components from the unwanted and harmful radiation interference leading to the failure of the component, rendering it non-functional. They are ideal for applications, such as computer work stations, electronics cabinets, semiconductor wafers, electricity generating cells, and batteries.
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The factors that drive the global conductive coatings market include growth in demand from the optics and solar industry. However, the high production and investment costs are expected to hamper the market growth during the forecast period. Steady growth of electronics and automobile industry in the developing countries of Asia-Pacific and LAMEA is anticipated to positively affect the market, thereby, increasing demand for conductive coatings during the forecast period.
The metals and conventional carbon segment accounted for the highest market share in 2015, owing to the high tenacity, high tensile modulus, and high heat resistance. Protection of electronics & associated components and demand from industries, such as automotive, solar energy, and optics, drive the market growth for metals and conventional carbon conductive coatings.
The anti-static coatings application is expected to be a promising application for conductive coatings. Conductive coatings are widely used as an anti-static solution for surfaces exposed to electrostatic discharge (ESD). These coatings are applied on various electrical & electronic devices to protect them from extensive damage that could occur due to the electromagnetic interference or radio frequency interference. These coating provide necessary shielding to protect such damage-prone devices.
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Key Findings of the Conductive Coatings Market Study:
- The solid-state lighting segment is expected to witness the highest growth rate of 13.9% from 2017 to 2023, in terms of value.
- In 2015, North America generated maximum revenue, accounting for over one-third share of the global market.
- Qatar is expected to grow at the highest CAGR of 7.4% during the forecast period 2017-2023.
- The metals and conventional carbon segment dominated the market in 2016, and is expected to contribute significant share throughout the forecast period.
- In terms of both value and volume, Asia-Pacific is expected to witness highest growth rate in the conductive coatings market from 2017 to 2023.
Asia-Pacific is anticipated to grow with the highest rate during the analysis period, owing to the growth in industrialization and steady growth of electronics industry, especially in the developing countries, such as China, Korea, and Japan.
Key players operating in the conductive coatings market include PPG Industries Inc., Henkel, Akzonobel N. V., Axalta Coating Systems, 3M Company, Dai Nippon Printing, Abrisa Technologies, Acree Technologies Inc., Carclo PLC., and Cima Nanotech.
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