Global Conductive Coatings Market Expected to Reach $24,360 Million by 2023 – Allied Market Research
Conductive Coatings Market Expected to be Worth $24,360 Million by 2023 – Allied Market Research Report
PORTLAND, OREGON, USA, October 2, 2022 /EINPresswire.com/ — 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 expected to reach $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 conductive coatings market share in 2016 and is expected to maintain its lead throughout the forecast period.
Conductive coatings are used to provide a shielding effect to protect components from unwanted and harmful radiation interference leading to component failure rendering it non-functional. They are ideal for applications such as computer workstations, electronic cabinets, semiconductor wafers, power generating cells and batteries.
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Factors driving the global conductive coatings market include growing demand from optical and solar industry. However, high production and investment costs are expected to hamper the market growth over the forecast period. Steady growth in the electronics and automotive industry in developing Asia-Pacific and LAMEA is expected to have a positive effect on the market, thereby increasing the demand for conductive coatings over the forecast period.
Metals and conventional carbon segment accounted for the highest market share in 2015, due to high toughness, high tensile modulus and high heat resistance. Protection of electronics and related components and demand from industries, such as automotive, solar energy, and optics, is driving the growth of the conventional carbon conductive metals and coatings market.
The application of antistatic coatings should be a promising application for conductive coatings. Conductive coatings are widely used as an antistatic solution for surfaces exposed to electrostatic discharge (ESD). These coatings are applied to various electrical and electronic devices to protect them from severe damage that may occur due to electromagnetic interference or radio frequency interference. These coatings provide the necessary shielding to protect these damage-prone devices.
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Key Findings from the Conductive Coatings Market Research:
• The solid-state lighting segment is expected to experience the highest growth rate of 13.9% from 2017 to 2023, in terms of value.
• In 2015, North America generated maximum revenue, representing more than a third of the global market.
• Qatar is expected to grow at the highest CAGR of 7.4% during the forecast period 2017-2023.
• The conventional metals and carbon segment dominated the market in 2016 and is expected to contribute significantly throughout the forecast period.
• In terms of value and volume, Asia-Pacific is expected to witness the highest growth rate in the conductive coatings market from 2017 to 2023.
Asia-Pacific is expected to witness the highest growth rate during the analysis period, due to growing industrialization and steady growth of electronics industry, especially in developing countries such as China, Korea and Japan.
The major players operating in the conductive coatings market are PPG Industries Inc., Henkel, Akzonobel NV, Axalta Coating Systems, 3M Company, Dai Nippon Printing, Abrisa Technologies, Acree Technologies Inc., Carclo PLC. and Cima Nanotech.
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.