Albany, NY -- (SBWire) -- 02/12/2019 --The global electromagnetic interference (EMI) shielding materials market features an intense level of competition and has a very low threat of new entrants owing to the stringent regulatory guidelines and the high cost of manufacturing, observes Transparency Market Research in a recent report. The few leading vendors in the market, including HEICO Corporation, 3M, Parker Hannifin Corporation, and Laird, are expected to collectively hold a significant portion of the overall market through the forecast period as well, owing chiefly to well-established manufacturing facilities and brand value.
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While the market has promising growth opportunities, it is hard to breach, particularly for new vendors, and faces a threat of substitutes. The rising number of alternatives in the market could eat up revenues and make the market further competitive.
Transparency Market Estimates that the global EMI shielding materials market will exhibit a promising CAGR of 6.7% from 2016 to 2024, rising to an opportunity of US$10.75 bn by 2024 from a valuation of US$6.08 bn in 2015.
EMI shielding finds application in various sectors such as healthcare, information technology, telecommunication, aerospace and defense, automotive, consumer electronics, and others. At present, the consumer electronics segment accounts for a leading share in the market because of the growing sales of different sophisticated smart electronics such as mobile phones and tablets, GPS tracker, portable communication devices, etc.
Other key end use segments are the automotive, aerospace, defense, and healthcare. In the automotive segment, for example, EMI shielding is used in power seats, power windows, automatic sliding doors, remote starters, and keyless ignitions. With the explosive growth in the automotive sector worldwide, the global EMI shielding market too will likely receive a fillip.
With the growing technological advancement, the use of EMI shielding in different aerospace and defense is also growing rapidly. It serves to bring down the electromagnetic interference during operation time, increase the efficiency of operations, and provide enhanced safety to the end user. This in turn is anticipated to increase the uptake of this technology and create a better opportunity for various EMI shielding technology providers in the coming years.
Thriving Telecommunications Industry to Present Promising Growth Opportunities
EMI shields find extensive usage in the modern telecom industry in applications related to the loss of data transmission capability caused by electromagnetic interference. As the telecommunication industry is treading along a healthy growth path in developed as well as developing economies, the uptake of EMI shields across new transmission facilities as well as from facilities that are undergoing infrastructure upgrades has increased.
The market for EMI shielding materials is also fueled due to the increased demand for next-generation electronic circuits that facilitate multi-level integration of electronic functions. As complex electronic circuits find their way into common consumer electronics products as well, the scope of usage of electromagnetic interference shields has also increased substantially, which, in turn, is driving the demand for EMI shielding materials.
High Cost of Manufacturing of EMI Shields Keep Small Vendors at Bay
One of the key challenges ahead of the EMI shielding materials market is the high cost of manufacturing EMI shields, especially the ones manufactured for applications in high profile industries such as aerospace and defense. The demand for EMI shields is increasing at a rapid pace in these industries and thus the market for EMI shielding materials has vast growth opportunities.
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However, the vast investment requirement in manufacturing facilities and operations to cater to these sectors is indirectly restricting small companies from exploiting them. Stringent regulations associated with the manufacture and use of certain materials in some developed economies across North America and Europe are also restricting the global EMI shielding material market from achieving its potential.
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