Albany, NY -- (SBWIRE) -- 02/17/2018 -- 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.
North America and Europe to Remain Leading Regional Markets
In terms of materials, metals and conductive coatings have conventionally found extensive usage for EMI shielding. While metals continue to remain one of the key choices for EMI shielding, the use of conductive coatings has seen a significant rise in the past years owing to their higher scope of usage across a vast set of applications. The trend is expected to remain strong over the report's forecast period as well and the segment of conductive coatings is expected to account for a significant share in the global market through the report's forecast period.
In terms of geography, the market for EMI shielding in North America is presently the leading revenue contributor to the global market, followed by the market in Europe. Factors such as rapid rise in infrastructure development activities in the telecom sector and the high production capacity of companies domiciled in these regions are key to the strong hold of North America and Europe on the EMI shielding materials market.
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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.