PORTLAND, Oregon and PUNE, India, December 7, 2017 /PRNewswire/ —
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According to a new report published by Allied Market Research, titled, “Conductive Coatings Market by Material and Application: Global Opportunity Analysis and Industry Forecast, 2017–2023,” the global conductive coatings market was valued at $15,120 million in 2016, and is projected to reach at $24,360 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The metal compounds segment accounted for approximately half of the share in the conductive coatings market in 2016, and is expected to maintain its lead throughout the forecast period.
Conductive coatings are used to provide a shielding effect for protecting components from the unwanted and harmful radiation interference leading to the failure of the component, rendering it non-functional. They are ideal for applications, such as computer work stations, electronics cabinets, semiconductor wafers, electricity generating cells, and batteries.
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The factors that drive the global conductive coatings market include growth in demand from the optics and solar industry. However, the high production and investment costs are expected to hamper the market growth during the forecast period. Steady growth of electronics and automobile industry in the developing countries of Asia-Pacific and LAMEA is anticipated to positively affect the market, thereby, increasing demand for conductive coatings during the forecast period.
The metals and conventional carbon segment accounted for the highest market share in 2015, owing to the high tenacity, high tensile modulus, and high heat resistance. Protection of electronics & associated components and demand from industries, such as automotive, solar energy, and optics, drive the market growth for metals and conventional carbon conductive coatings.
The anti-static coatings application is expected to be a promising application for conductive coatings. Conductive coatings are widely used as an anti-static solution for surfaces exposed to electrostatic discharge (ESD). These coatings are applied on various electrical & electronic devices to protect them from extensive damage that could occur due to the electromagnetic interference or radio frequency interference. These coating provide necessary shielding to protect such damage-prone devices.
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Key Findings of the Conductive Coatings Market Study:
The solid-state lighting segment is expected to witness the highest growth rate of 13.9% from 2017 to 2023, in