Northbrook, IL 60062 -- (SBWIRE) -- 09/12/2023 -- Global EMI shielding market size is anticipated to grow USD 8.6 billion by 2027 from USD 6.6 billion in 2022, at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2027. Rising requirements for innovative EMI shielding solutions due to increasing electromagnetic pollution on account of growing digitalization and surging demand in consumer electronics and automotive industries due focus of OEMs in technological advancements are some of the major factors propelling the growth of market.
The market growth for EMI shielding market will be showing significant upsurge due to its various applications in several industries such as consumer electronics, telecommunications & information technology, automotive and so on. Various OEMs adapting different strategies including deals such as acquisitions, sales contracts and developments such as product launches as well as product enhancements and so on are driving the growth of market.
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Conductive coatings and paints segment is expected to have the largest size of the EMI shielding market in 2021
The market for conductive coatings and paints segment held the largest share of the overall market in 2021. Conductive coatings & paints are used to provide EMI shielding for non-metal surfaces. The conductive shield created around the casing prevents EMI signals from interfering with control signals. Materials such as silver, nickel, graphite, and silver-coated copper are used in conductive coatings & paints. In conductive coatings, surface resistivity is inversely proportional to the thickness of the coating. As a result of this, conductive coating and paints offer advantages over other methods, especially in higher volume applications where cost is critical. Also various electronic equipment and systems are integrated in vehicles which is one of the prominent factor driving the growth of the conductive coatings & paints market.
The market for consumer electronics is expected account largest market share during the forecast period
The consumer electronics segment is projected to account largest market share during the forecast period. EMI in the consumer electronics industry results from poor contacts, dissimilar metal junctions, corrosion, or other causes of nonlinear electronic behavior of various electronic equipment and devices. RF devices employ large and increasing data densities, making passive intermodulation reduction difficult. Thus, different EMI shielding products are needed to provide stable contact resistance, help mitigate passive intermodulation, and maximize signal integrity. The proliferation of consumer electronic devices, the availability of advanced products, such as wearable devices, and the need to comply with EMI shielding guidelines are expected to be the major factors contributing to the growth of the EMI shielding market in consumer electronics.
The EMI shielding market in Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific is expected to be the largest contributor to EMI shielding market during the forecast period. Rapid industrialization and infrastructure developments are driving the growth of consumer electronics and automotive industries in China that is expected to increase the demand for EMI shielding solutions in the region. The consumer electronics and automotive industries are in the leading position in Asia Pacific, and the market for the telecommunications and information technology also is expected to grow at the considerable rate in this region in the upcoming years. The economic growth of the region and the lower operating costs in countries such as China and India are expected to drive the demand for EMI shielding solutions in Asia Pacific.Also, the surging demand for electronics and automotive due to EVs and HEVs as well as other industrial activities in the region will drive huge demand for market in Asia Pacific.
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Top EMI Shielding Companies - Key Market Players
The EMI shielding market players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships, and acquisitions to strengthen their offerings in the market. The major EMI shielding companies are Parker Hannifin (US), PPG Industries (US), Henkel (Germany), 3M (US), Laird Performance Materials (UK), RTP Company (US), Schaffner (Switzerland), and Leader Tech (US) among others.