Conductive Polymer Coatings Market Analysis
Conductive Polymer Coatings Market - Size, Share, Trends, and Forecast 2019 - 2027
Conductive polymers are organic polymers and carry electricity. They can be semiconductors or have metallic conductivity. The electric properties in conductive polymers can be customized with method organic synthesis. Conducting polymer can be categorized as inherently dissipative polymers, inherently conductive polymers, conductive plastics, and conductive polymers. The conductive polymers are lightweight, exhibit high-performance, chemically resistant, and flexible. Due to all these properties, conductive polymer coating is used in various industries such as the photovoltaic industry, electrical, and electronic industry. These coatings are made of basic polymers such as polyaniline, polyacetylene, and polypyrrole. Conductive polymer coatings is majorly used in optical and electronic materials, bio-sensors, bio-implants, super-capacitors, actuators, sensors, and corrosion protection for electric energy storage. Moreover, conductive polymers offer processability through dispersion.
Global conductive polymer coatings market size is valued at US$ 3.15 billion in 2016, and is expected to register a CAGR of 9.22% over the forecast period (2019-2027), reaching US$ 10.56 billion in 2027. Growing adoption of conductive polymer coatings in various industries such as electrics, electronics, and photovoltaic industry. Increasing demand for photovoltaic cells around the world is expected to drive growth of the market during the forecast period. Photovoltaic cells are used to convert solar energy into electric energy. Increasing demand for solar energy is expected to fuel the demand for photovoltaic cells and thereby boost the market growth. Conductive polymer coatings are majorly used in manufacturing of light emitting diode (LED)-based lights and displays. LEDs consume low voltage with inexpensive production. Increasing demand for LED-based products is expected to boost the demand for conductive polymer coatings and hence boost growth of the market.
However, high production and processing cost is expected to restrain growth of global conductive polymer coatings market during the forecast period.
Market Regional Analysis
Asia Pacific is expected to lead the global conductive polymer coatings market and is projected to gain major market share during the forecast period. This is owing to shifting of key players in electric and electronic industry to China, due to increasing demand for electronics product and low production cost. North America is expected to witness significant growth during the forecast period, owing to increasing demand for electrical and electronic products. Furthermore, Europe is also expected to gain significant market share during to forecast period, owing to increasing development of organic semiconductor coatings.
Key manufacturers in the global conductive polymer coatings market are The Lubrizol Corporation, NanoMarkets LLC., The Dow Chemical Company, Crosslink, Heraeus, ITEK, Voltaic Coatings, AnCatt, Henkel Electronics, and CBI Polymers Inc.