Conductive polymer coatings are commercially used material in industries such as consumer electronics, automotive, aerospace, and healthcare, among others. It offers various benefits such as corrosion resistance, electromagnetic shielding, rapid curing, adhesion to various substrates, and are lightweight. Conductive polymer coatings find major application in electronic devices, wires & cables, batteries, printed circuit boards, and solar panels. The growing electronics industry globally focusing on compact devices, and miniaturization of components is majorly driving the demand for conductive polymer coatings.
The global conductive polymer coatings market is estimated to be valued at US$ 34144.41 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
IoT is one of the fastest growing technologies globally. As per statistics, the number of IoT connections worldwide is expected to increase from 6.4 billion in 2020 to more than 25 billion by 2030. Consumer electronics, automotive, healthcare are major adopters of IoT solutions which use electronic components, circuits boards, wires and cables that require conductive polymer coatings. Additionally, with increasing focus on compact devices, conductive polymer coatings are gaining traction over conventional solutions owing to benefits like light weight, flexibility and corrosion resistance. These factors are expected to significantly drive the growth of global conductive polymer coatings market over the forecast period.
Segment Analysis
Conductive polymer coatings market is dominated by electronic and electrical segment with a share of around 45% in 2024. Conductive polymer coatings are extensively used in electronic devices such as smartphones, laptops, tablets and portable devices for applications including touchscreens, displays and sensors. Electronic devices require transparent, flexible and durable coatings that can withstand constant finger taps and swipes on touchscreen. Conductive polymer coatings meet these requirements and hence remain the coating of choice for electronic OEMs.
PEST Analysis
Political: No major political factors are expected to significantly impact the conductive polymer coatings market.
Economic: Growing disposable incomes and rising electronics adoption in emerging economies will drive demand. Slowdown in major economies can affect market adversely.
Social: Increasing digitalization and proliferation of smart devices is creating high social dependency on electronics. This contributes to the market growth.
Technological: Developments in flexible electronics, wearables and Internet of Things are opening new application avenues for conductive polymer coatings. Production technology advancements can help reduce costs.
Key Takeaways
The Global Conductive Polymer Coatings Market Size is expected to witness high growth between 2024 to 2031 supported by rising demand for electronic devices across the world. The global Conductive Polymer Coatings Market is estimated to be valued at US$ 34144.41 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis
The Asia Pacific region is expected to continue dominating the global conductive polymer coatings market through 2031 due to presence of large electronic manufacturing bases and burgeoning domestic demand in the region. China, Japan, South Korea, Taiwan and few other Southeast Asian countries account for majority share of global electronics production. With rising electronics consumption levels in India and other developing nations, the regional market is poised to expand rapidly.
Key players
Key players operating in the conductive polymer coatings are Silicom Ltd Connectivity Solutions, Cisco Systems Inc., D-Link Corporation, Arista Networks Inc., Quanta Cloud Technology (Quanta Computer), Juniper Networks Inc., ZTE Corporation, Hewlett Packard Enterprise, Fortinet Inc., NEC Corporation, Mellanox Technologies (NVIDIA), Huawei Technologies Co. Ltd., Dell EMC, H3C Holdings Limited (Hewlett Packard Enterprise), Extreme Networks Inc., and Lenovo Group Limited. Key players are focusing on developing application-specific conductive polymer coatings with enhanced properties and wider compatibility.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
