Electrically Conductive Coating Market

Electrically Conductive Coating Market Size (2023-2028):

The electrically conductive coatings market is anticipated to be registered at $ 25.51 billion by 2028, with a CAGR of 10.4% during the foreseen period of 2023-2028

Electrically conductive coatings are applied to everyday objects requiring electricity. The function of these coatings is to protect people from hazards such as electric shock or explosion and to improve the expected life of these products. These coatings can sometimes add a shiny appearance to products. Electrically conductive coatings are of many types, the commonly known types being epoxies, polyesters, acrylics, and polyurethanes. The material used in these coatings consists of different metals such as copper, silver, aluminum, molybdenum, graphite, carbon black, etc. These coatings are used in many industries ranging from consumer electronics and pharmaceuticals to automotive and aerospace. They are also used in the solar, bioscience, and chemical industries.

The recent surge in demand for displays and electronics is the driving force behind the global market for electrically conductive coatings. Consumer electronics is a rapidly growing market segment. This market is expected to reach $ 24 billion globally by the end of 2026. The global consumer base of the electronics and semiconductor industries is foreseen to continue to expand in the coming years due to the increased demand in large economies such as India, China, the United States, Germany, France, and Brazil, increasing the need for conductive coatings.

Electrically conductive coatings use various types of materials, such as acrylics, epoxies, and polyesters. Acrylics are the most common types of coating used in electronics, satellite dishes, and circuit board applications. Pigments, together with chemicals, provide better shielding for electronic and electromedical devices that emit electromagnetic waves. These materials are mainly used to prevent electrostatic and electromagnetic interference (EMI). Growing technological advancements in electronics, the rising need for electronic security cards, and increasing calls from the construction and aerospace industries are estimated to drive the market for electrically conductive coatings in the coming years.

Electrically Conductive Coating Market Drivers:

The growing penetration of smartphones and consumer electronics is fueling the demand for electrically conductive coatings. These coatings are generally made from materials including polyesters, polyureas, epoxy, and acrylics. Epoxy is one of the most widely used materials due to its superior mechanical properties, durability, and weather resistance. These coatings are used as a metal replacement in various industries such as solar power, aerospace, consumer electronics, life sciences, and automotive. Acrylics are also gaining popularity due to their low cost, excellent weather resistance, and good conductivity and moisture resistance.

Macroeconomic factors such as increasing urbanization and industrialization and rising per capita income are also boosting the global electrically conductive coatings market. The expansion of the consumer electronics sector has a positive impact on the growth of the market. These coatings are also used in thin layers on plastic housings and enclosures to help dissipate static charge and provide protection against EMI. The presence of a large number of regional players has made the market very competitive. Most of the key players in the global electrically conductive coatings market are leveraging strategies like new product launches and technological innovation to diversify their offerings. Market players should take advantage of the immense potential offered by developing regions to stay ahead on the global stage.

Electrically Conductive Coating Market Restraints:

The major constraints in the electrically conductive coatings market are the initial capital required for equipment and the increasingly stringent environmental regulations on air pollutants and volatile toxic compounds emitted during coating processes.

Opportunities in the Electrically Conductive Coating Market:

Some of the factors influencing the global electrically conductive coatings market include the high demand for consumer electronics devices such as mobile phones, laptops, tablets, and LCD TVs. The company providing the electrically conductive coating has a great opportunity in regions such as Asia Pacific, Middle East, Africa, and Latin America attributed to the rapidly growing industrial economy. The electrically conductive coatings market also presents significant opportunities in North America and Western Europe attributed to the growing consumer electronics industry in the region. The global electrically conductive coatings market is highly competitive.

Challenges in the Electrically Conductive Coating Market:

The toxic nature and government regulations on products harmful to the environment are expected to hamper the business of the market.

ELECTRICALLY CONDUCTIVE COATING MARKET REPORT COVERAGE:

Market Segmentation:

Electrically Conductive Coating Market - By Resin Type:

• Epoxy

• Polyesters

• Acrylics

• Polyurethanes

Acrylics are gaining prominence in the global electrically conductive coatings market due to their better conductivity, low cost, good moisture resistance and excellent weather resistance. It has considerable potential in coatings for automotive and consumer electronics applications.

The desired properties of the epoxy for the electrically conductive coating leave the acrylic segment behind. Epoxy resin coatings are lightweight and therefore are used as substitutes for metals such as copper in consumer electronics, solar, automotive, aerospace, life science, and more.

Electrically Conductive Coating Market - By Application:

• Consumer Electronic Displays

• Solar Industry

• Automotive

• Aerospace

• Others

Consumer electronics is a quickly growing segment of the electrically conductive coatings market. Electrically conductive coatings are used in electronic displays, LCD screens, touch panels, computers, cell phones, radios, calculators, and pagers, to provide protection against electromagnetic interference and static charge dissipation. Solar power is expected to gain growth in the future due to several planned solar projects.

Electrically Conductive Coating Market - By Region:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

Asia-Pacific is expected to dominate the overall market, owing to the highly developed electronics sector in China, Japan, and South Korea, coupled with continued investments in the region to advance the ongoing automotive and aerospace technology sectors of road over the years. The demand for electronic products, such as mobiles, televisions, tablets, keyboards and laptops, has increased dramatically due to the adoption of technological improvements in the region. China, Japan, and Taiwan are home to a large number of electronics manufacturing factories in the area. Recently, the use of electric vehicles in the Asia Pacific has increased due to supportive government policies and increasing investment. Therefore, the demand for electrically conductive coatings in the automotive industry is increasing. China, Vietnam, and Taiwan have electronics manufacturing units and mainly export electronics to other countries. The growing electric vehicle market, rising electric technology, and expansions in the aerospace and defense industries are foreseen to drive the electrically conductive coatings business in the coming years.

North America accounts for a significant share of the global electrically conductive coatings market in terms of value, attributed to the increasing employment rate and rising disposable income. The market for electrically conductive coatings in the United States is estimated to be US $ 4.3 billion in 2021. China, the world's second-largest economy, is expected to reach a projected market size of US $ 5.2 billion by 2026, with a CAGR of 10.4% over the analysis period 2022 - 2027. Other notable geographies are Japan and Canada, each forecasting growth of 3.8% and 6.2% respectively over the projection period. In Europe, Germany is likely to grow by around 4.4% CAGR.

Impact of COVID-19 on the Electrically Conductive Coating Market:

The Electrically Conductive Coatings Market report analyzes the impact of Coronavirus (COVID-19) on the industry. Since the COVID-19 virus outbreak in December 2019, the disease has spread to nearly 181 countries around the world and the World Health Organization has declared it a public health emergency. The temporary shutdown of manufacturing units and sales channels has resulted in declined revenue in this market, which is estimated to bounce in the next two to three years.

Recent Developments 

• In July 2019, Trelleborg launched different electrically conductive PTFE-based sealants for dynamic applications. Trelleborg Sealing Solutions introduces Turcon® MC1 and Turcon® MC2 materials, the only electrically conductive polytetrafluoroethylene (PTFE) materials that can be used in elastomeric and spring seals. Designed for dynamic applications, seals and bearings in materials will provide a reliable electrical connection between moving parts.

• In August 2020, Hexcel introduced a new electrically conductive 3D printing material. HexPEKK EM composite components are ready to fly after printing.

• In July 2019, Graphmatech launched the most conductive transformable composite in the world. Award-winning Swedish startup Graphmatech has successfully launched a new world record material in just 22 months and less than $ 1 million since the company was founded. On average, this process takes seven years and tens of millions of dollars.

Electrically Conductive Coating Market Key Players:

1. Axalta Coatings
2. Akzo Nobel N.V
3. Creative Materials Inc
4. Henkel AG & Company
5. Sherwin-Williams
6. PPG Industries
7. RS Coatings
8. BYK Additives & Instruments (Owned by ALTANA Chemie GmbH)