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(IT-NEWSWIRE.COM, December 04, 2023 ) The Global EMI Shielding Market was valued at USD 7.0 billion in 2023 and is estimated to reach USD 9.4 billion by 2028, registering a CAGR of 5.9% during the forecast period. Rising demand for consumer electronics, rapid industrialization across the globe, and increasing adoption of electric vehicle are the major driving factors for the growth of the EMI shielding market.
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Based on material, the conductive coatings & paints are expected to dominate the EMI shielding market from 2023 to 2028. Conductive coatings and paints stand out as advantageous alternatives to other EMI shielding methods, particularly in large-scale applications where cost is a significant concern. Their versatility in adhering to a diverse range of materials and surfaces, including plastics, metals, composites, and others, makes them a versatile solution for EMI mitigation. Owing to their exceptional shielding capabilities and superior resistance to electromagnetic interference compared to other materials, conductive coatings and paints are extensively employed in automotive applications. Additionally, prominent players in the EMI shielding market offer conductive paints and coatings, further contributing to their dominance in the market.
Based on method, Radiation segment to dominate the EMI shielding market from 2023 to 2028. The widespread use of electrical and electronic devices has led to a surge in electromagnetic radiation, posing significant challenges in various industries. Radiation-based shielding methods emerged as a versatile and effective approach to address these EMI concerns. Their adaptability allows them to be applied across a broad spectrum of electronic devices, including consumer electronics, medical equipment, military systems, and more. This has solidified their dominant position in the EMI shielding industry.
Based on industry, the automotive segment is expected to have highest growth rate during the forecast period. Modern vehicles are becoming increasingly sophisticated, embracing advanced electronic systems such as autonomous driving technologies, infotainment systems, and connected features. These systems are highly susceptible to electromagnetic interference (EMI), necessitating the implementation of effective EMI shielding measures. Additionally, the transition towards electric and hybrid vehicles has introduced more complex power electronics, further amplifying the demand for robust EMI shielding solutions. These factors are collectively driving the growth and expansion of the EMI shielding market.
Based on region, Asia Pacific is expected to have highest growth rate in EMI shielding market during the forecast period. Asia Pacific has emerged as a global manufacturing powerhouse for various industries, including consumer electronics, telecommunications, automotive, and information technology. This region's robust manufacturing capability generates a higher demand for EMI shielding products. The Asia Pacific region is experiencing significant growth in its telecommunications infrastructure, spearheaded by the expansion of 5G networks. Furthermore, Asia Pacific is a major player in the automotive industry, with a substantial portion of the world's vehicle production concentrated in countries like China, Japan, and South Korea.
Key Market Players:
Major players operating in the EMI shielding market include Parker Hannifin Corp (US), PPG Industries Inc. (US), 3M (US), Hankel (Germany), Laird Technologies Inc. (US), Leader Tech Inc. (US), MG Chemicals (Canada), Nolato AB (Sweden), Tech Etch Inc. (US), RTP Company (US), Schaffner Holding AG (Switzerland). These companies have reliable manufacturing facilities and strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. These companies have built a strong reputation for their products and services, with a well-established portfolio reflecting their industry expertise. Their market presence is robust, backed by strong business strategies that have enabled them to maintain a significant market share.
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