LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global electrically conductive coatings market is projected to grow to USD 19.26 billion by 2021, at a CAGR of nearly 8% over the forecast period.
This research report titled ‘Global Electrically Conductive Coatings Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Electrically conductive coatings provide both electrical conductivity as well as corrosion prevention. These coatings are formulated with a combination of epoxy resins, hardeners, and carbon black. These coatings are widely used in the consumer electronics, solar, automotive, aerospace, and bioscience industries.
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Based on the end-user, the report categorizes the global electrically conductive coatings market into the following segments:
- Consumer electronics industry
- Solar industry
- Automotive industry
- Other industries
The top three revenue-generating end-user segments in the global electrically conductive coatings market are discussed below:
Consumer electronics industry
“The electrically conductive coatings market by the consumer electronics industry occupied a majority 61% of the total shares in 2021, and is expected to increase its hold on the market over the forecast period,” says Mahitha Mallishetty, a lead analyst at Technavio for paints, coatings, and pigments research.
The use of consumer electronics is very high in Asia, particularly in China, Vietnam, and Taiwan. The electrically conductive coatings are used in many consumer durables like flat panel displays, personal computers, smartphones, air conditioner units, printed circuit boards, and control panel insulations, which not only give electric conductivity but also offer scratch resistance.
The global electrically conductive coatings market in the solar industry is expected to be worth USD 3.58 billion by 2021. These coatings provide electrical conductivity properties as well as protection against moisture. Electrically conductive coatings are usually based on carbon nanotubes and are mainly used in photovoltaic cells as they allow light to enter the photovoltaic material and conduct the generated electricity. China is currently the leading country in the solar industry, which is followed by Japan, the US, and Europe.
“The electrically conductive coatings market by the automotive industry is expected to showcase a modest growth rate with a CAGR of nearly 6%. The quickly growing automotive industry in APAC will generate the highest growth in the market segment,” says Mahitha.
In the automotive industry, electrically conductive coatings are used on vehicle body parts and electricals to induce electrically conductive properties, which are suitable for electrostatic applications. The convenience in the use of devices has increased due to the advancement of the battery technology, which uses electrically conductive coatings.
The top vendors highlighted by Technavio’s research analysts in this report are:
- PPG Industries
- RPM International
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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