The global EMI shielding market is estimated to garner a revenue of ~USD 10 billion by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 6 billion in the year 2021. The primary growth of the EMI shielding market is the expansion of manufacturing industry worldwide. Manufactures are extensively using EMI shielding for conductive coatings in various products such as smartphones and military devices which is projected to bring lucrative opportunities in the market growth. The recent reports calculated that in 2022, the manufacturing industry of the United States region generated an amount of approximately USD 6 trillion.
Get more information on this report: Request Sample PDF
EMI shielding manufacturers are tapping in the manufacturing industry to provide a protective shield in the products. The benefits and characteristics of EMI shielding has prompted its adoption rate. Thus, an increase in the enterprises in manufacturing industry is expected to bolster the sales of EMI shielding in the assessment period. In 2022, it was calculated that the number of manufacturing businesses counted to 638,590 in the U.S.
Electromagnetic interface (EMI) shielding is a process that is used for absorption the electromagnetic radiation by being positioned in the middle of electromagnetic fields. This technique of creating a barrier that prevents leakage of a strong electromagnetic field interferes with sensitive devices and signals and help in increasing the durability of most electronics along with enhancing performance of the circuit.
Growth in the Automotive Industry – EMI shielding technology is being heavily used in automotive industry to enhance the user experience. Automatic sliding doors, keyless ignition, remote starters, power seats and power windows are being enabled due to EMI shielding. Thus, the rise in automotive industry is expected to fuel the EMI shielding market growth. India is all set to possess the 3rd largest automotive sector in the world, with a revenue generation of 200 billion dollars by 2031.
Rise in the Electronics Industry – Due to rise in production of electronics across different spectrums such as aerospace, automotive, telecom & IT, healthcare and other consumer electronics, the utilization of EMI shielding is anticipated to rise considerably in order to prevent the electronics from malfunctioning. The revenue generated by the U.S. electronics industry in 2019 stood up at USD 300 billion.
Increased Focus on Expanding Telecom Services – The increase demand for steady and stable telecom services by emergency responders, police personnel, and hospital workers is considered to be a growth driver for increased adoption rate of EMI shielding. Thus, the high spending in telecom services is projected to expand the EMI shielding market size. In 2020, approximately, USD 1,550 billion were spent across the world in telecom services.
Rise in Expenditure on Research and Development Activities – The data shared by the World Bank revealed that 2.63% of the total Gross Domestic Product (GDP) expenditure was made in 2020, an increment from 2018 with only 2.2% of the total expenditure.
The EMI shielding market is segmented and analyzed for demand and supply by application into automotive, defense & aerospace, healthcare, telecom & IT, and consumer electronics. Out of these, automotive segment is expected to garner the largest market share owing to the rise in demand for production vehicles across the world. As per the Organization of Motor Vehicle Manufacturers, the global production of vehicles was 80,145,988 units in 2021. This is a rise from 77,711,725 units in 2020.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global EMI shielding market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2031, owing to huge facilities producing automobiles. Also, the increased demand and production of automobiles in the region is expected to generate large revenue for the market. As per the International Organization of Motor Vehicles, the total production of vehicles in the region was 46,732,785 units in 2021, a rise from 44,276,549 units in 2020. Similarly, the total sales in the region was 42,663,736 units in 2021, a rise from 40,322,544 in 2020. Also, the high consumption of chemicals is an another growth driver of the EMI shielding market in the forecast period. As of 2020, the chemical industry of Asia Pacific region contributed to at least 60% of the revenues generated by global chemical industry.
Get more information on this report: Request Sample PDF
The global EMI shielding market is further classified on the basis of region as follows:
Our in-depth analysis of the global EMI shielding market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The rise in demand of consumer electronics along with the expansion of automotive and healthcare industry are some of the factors are expected to propel the market growth in the forecast period.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
The high costs of EMI shielding coupled with additional expenses incurred in production process and miniaturization of electronic devices are some of the factors that are expected to hamper the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are 3M, Parker-Hannifin Corporation, The Dow Chemical Company, ETS-Lindgren Inc., Henkel AG & Co. KGaA, KITAGAWA INDUSTRIES America, Inc., Laird Performance Materials (DuPont de Nemours, Inc.), LEADER TECH INC., PPG Industries, Inc., RTP Company, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material, method, application, and by region.
The automotive segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization