Sarasota, FL -- (SBWIRE) -- 09/17/2018 -- According to the report, global EMI shielding market was valued at USD 5.46 billion in 2017, is expected to reach USD 7.95 billion in 2024 and is anticipated to grow at a CAGR of 5.5% between 2018 and 2024.

EMI shielding protects electronic devices from corrosion and oxidation. It is widely used in several end-use industries such as telecom & IT, automotive, healthcare, consumer electronics, and other industries. Increasing technological advancements in EMI shielding is widely utilized in the aerospace industry. Further, growing demand for consumer electronics such as smartphones, tablets, portable communication devices, LED, and LCD coupled with changing lifestyle is expected to boost the demand for EMI shielding across the globe. EMI shielding is used in consumer electronics due to the improved radiation shielding of circuits and chips of medical devices and this is projected to fuel the market growth in the forecast period.

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The global EMI shielding market can be segmented based on component, method, end-use industry, and regions. Based on the component, the global EMI shielding market is segregated into EMI shielding tapes & laminates, metal shielding, conductive polymers, conductive coatings & paints, and EMI/EMC filters. Conductive coatings & paints are expected to grow at the fastest pace in the upcoming years. It is due to its thermal properties and easy application on nylon and plastic resins such as polyphenylene oxide (PPO), polyphthalamide (PPA), polycarbonate, polybutylene terephthalate (PBT), and polystyrene (PS). Therefore, it is used in a wide range of devices such as smartphones and tablets. The global EMI shielding market is segmented into methods which include radiation and conduction. However, radiated EMI shielding is widely used in electronic devices and has the potential to enhance its application in several end-use industries. On the basis of end-user industry, the market is classified consumer electronics, telecom & IT, defense & aerospace, healthcare, automotive, and others. Consumer electronics is anticipated to witness significant gains in the forecast period. In addition, increasing demand from the automotive industry is projected to propel the EMI shielding market growth in the forecast period.

In 2017, Asia Pacific accounted for the largest share for the global EMI shielding market. Asia Pacific is expected to be the fastest growing regional market for EMI shielding during the forecast period. This growth is seen owing to the broad range of applications in various end-use industries like consumer electronics, telecom & IT, defense & aerospace, healthcare, automotive, and others. Additionally, the increasing demand for EMI shielding in consumer electronics is likely to propel the demand for EMI shielding within the region. North America and Europe are estimated to grow considerably in the forecast period. The rising demand from the healthcare industry for medical devices is projected to boost the EMI shielding market growth in the coming years. The Middle East & Africa is likely to hold immense potential for EMI shielding market. Owing to the increased usage of EMI shielding in the automotive industry it is estimated to increase the consumption of EMI shielding in the region. Latin America is projected to grow moderately in the forecast period due to the increase in the automotive industry and consumer electronics.

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The EMI shielding market consists of a large number of players and is highly divided. Companies operating in this market include Chomerics, RTP Company, 3M Company, Tech-Etch Inc., ETS-Lindgren, Laird Plc., Schaffner Holding AG, Henkel AG & Co. KGaA, PPG Industries Inc., Kitagawa Industries Co., Ltd., and Leader Tech Inc., among others.

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