Global Electric Paint Market was USD 11.36 Billion in 2018 and is projected is to exhibit 8.39% CAGR during the forecasted period. The market is projected to be around USD 17.24 Billion by 2026. These paints offer dual benefit, conductivity and corrosion resistance. The ever-increasing demand for the consumer electronics is driving the market across regions. Electrical coatings/ paintings are used in exclusively in durables such as mobile phones, laptops, computers, LCDs, electrical display, and touch panels. Additionally, electric paint market is growing at a gradual pace because of the usage in the automotive industry.
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Increasing Usage in Consumer Durables
Consumer Durables industry is one of the fast-moving segments as manufacturers and suppliers’ race to produce cost effective and innovative goods in lesser time. The recent rise in demand for electronic displays & solar products is driving the electrically conductive coatings market globally. The global consumer base for this sector is expected to grow further in the next 5 – 10 years due to exponential demand in major economies such as the U.S., China, India, and Brazil, affecting the need for conductive coatings.
Cost Effectiveness of the End Product
The Electric paints coatings are exhaustive blend of epoxy tars, hardeners, and carbon black. Epoxy gums has great physical properties. Further coatings are linked by various networks. Electrically conductive properties are accomplished by adding elements like graphite, carbon dark silver, short carbon filaments, carbon Nano fibers, and silver-covered carbon nanotubes. Thus, it provides a light weight characteristic to the entire panel reducing the overall cost.
North America region holds the highest market of total market share in 2018. The market is mainly driven by the increasing adoption of the innovative technologies in the consumer durables. Whereas Asia Pacific market is growing at a highest CAGR with emerging Asian economies such as China and India because of the rapid economic growth and industrialization in the country.
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Electric Paint Market Segmentation
The global Electric Paint Market is segmented into Product Types, Application Types, and by Region. On the basis of the product types the market is further bifurcated into Epoxy, Polyesters, Acrylics, Polyurethanes. By Application Type, the market is classified into Consumer Electronic Displays, Solar Industry, Automotive, Aerospace, Bioscience. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
Electric Paint Market Competitive Landscape
The key players associated with the global Electric Paint Market are Akzo Nobel N.V., Axalta Coating Systems, HENKEL AG & Company and PPG Industries Inc and Creative Materials Inc.
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