The conductive polymer coatings market is estimated to be valued at US$ 29639.24 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Conductive polymer coatings are organic polymers that conduct electricity. They are applied on substrates to impart electrical conductivity without greatly compromising mechanical properties. Some key applications of conductive polymer coatings include printed electronics, photovoltaics, EMI/RFI shielding and anti-static coatings.
Market Dynamics:
The increasing demand for conductive polymer coatings from consumer electronics industry is a major factor driving the market growth. Rising production of smartphones, tablets and wearable devices has augmented the consumption of conductive polymer coatings for applications such as sensors, conductive adhesives, printed circuits and flexible displays. Additionally, growing penetration of solar photovoltaic panels is also propelling the market as conductive polymer coatings are widely used in photovoltaic backsheets and cells to manage static charge accumulation and improve conductivity. Furthermore, stringent regulations regarding electrostatic discharge (ESD) in various end use industries have increased the application of conductive polymer coatings for electrostatic protection.
SWOT Analysis
Strength: Conductive polymer coatings provide corrosion protection, electromagnetic shielding, and static dissipation. They offer high conductivity, durability, and flexibility. Conductive polymer coatings exhibit excellent adhesion to various substrates.
Weakness: High cost of production for conductive polymer coatings limits their use in cost-sensitive applications. Volatility in raw material prices poses challenges.
Opportunity: Growing demand from electronics, automotive and aerospace industries due to stringent EMI shielding regulations is creating new avenues. Expanding infrastructure development offers lucrative growth prospects.
Threats: Availability of substitutes like metallic coatings and presence of local players intensifies competition. Stringent environment norms for polymer coatings pose compliance challenges.
Key Takeaways
The Global Conductive Polymer Coatings Market Forecast is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing demand from Electronics industry. Conductive polymer coatings find wide usage in printed circuit boards, connectors, batteries, and semiconductor packaging applications owing to their conductivity and corrosion resistance properties.
Regional analysis North America dominates the global conductive polymer coatings market and is expected to maintain its leading position over the forecast period. This is attributed to robust electronics manufacturing and presence of key players in the region. The market in Asia Pacific is anticipated to register fastest growth owing to rapid industrialization, growing aerospace industry, and rising electronics exports from China and India.
Key players operating in the conductive polymer coatings market are Heraeus Holding, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company and AnCatt Inc. Key players are focusing on new product launches, expansions, mergers and acquisitions to gain competitive edge and cater to growing product demand.
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https://www.trendingwebwire.com/conductive-polymer-coatings-market-size-share-growth-outlook-2023/
