India, Maharashtra, Pune – Market Research Future (MRFR) projected the Global EMI and RFI Shielding Materials Market size to touch a valuation of USD 11,210.81 million by 2023. Factors fueling market growth include development of telecommunication infrastructure, compliance with electromagnetic compatibility (EMC)/electromagnetic interference (EMI), and application of EMI shielding on electronic applications. The market can exhibit a stupendous 6.50% CAGR during the forecast period (2018-2023).
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Massive demand for high Internet speeds from end-users has led to massive investment by telecom providers. The use of EMI and RFI coatings to prevent loss of information due to interference can drive market demand exponentially. Deployment of 5G technology in the U.S. and South Korea is likely to offer new expansion opportunities for the market.
But high costs of shielding can act as a growth deterrent.
The global EMI and RFI shielding materials market is segmented by material, product, and end-use.
By Materials, metals accounted for 48.36% share in 2017, followed by plastics & polymers, mu-metal, conductive elastomers , carbon & graphite , and others . This can be attributed to the use of metals in EMI shielding components, EMI enclosures, and EMI shielding coatings. On the other hand, plastics and polymers can exhibit 7.02% CAGR over the assessment period owing to the wide scope for metal-filler plastics.
By Product, coatings & paints is expected a robust growth of CAGR by 2023. This can be attributed to the enhanced EMI and RFI shielding property and aesthetic appeal it offers to devices. But the tapes and laminates segment can accrue a robust CAGR due to its corrosion resistance, electrical conductivity, and 100% shielding.
By End-use, consumer electronics accounted for 48.78% share in 2017, followed by IT & telecommunication and automotive.). Consumer electronics can exhibit 6.66% CAGR during the forecast period. The use of RFI and EMI shielding materials on flat-screen displays, laptops, and smartphones can drive the segment growth. The growth is also facilitated by deployment of novel networking technologies. On the flip side, the automotive segment can exhibit 6.10% CAGR during the forecast period. This can be credited to the integration of new electronic devices which warrant EMI and RFI shields.
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Geographically, the EMI and RFI shielding materials market is segmented into Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East & Africa (MEA).
The APAC region accounted for the largest market share in 2017 and is expected to register a CAFR of 6.89% during the forecast period. The explosive growth in consumer electronics and IT & telecommunication sectors can fuel the demand for EMI and RFI shielding materials.
The North America region held close to 20.54% share of the EMI and RFI shielding materials market due to intense demand for consumer electronic devices. The aerospace industry offers a prime opportunity for the market to capitalize on. Aircraft have fallen prey to lightning and solar flares which have caused radiofrequency interference leading to fatalities. RFI shielding materials can help avert disasters and induce the demand for RFI-coated printed circuit boards.
Latin America is touted to exhibit moderate CAGR during the assessment period. This can be attributed to rapid use of smartphones by consumers and development of telecommunication infrastructure to cater to online consumption demands of users.