Vancouver, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global conductive electrode coatings market size was USD 21.65 Billion in 2022 and is expected to register a revenue CAGR of 7.5% during the forecast period, according to the latest analysis by Emergen Research. Increasing advancements in the production of innovative coating materials aimed at streamlining the design, promoting sustainability, and enhancing the process efficiency of battery components are also major factors driving revenue growth of the market. Researchers at Lawrence Berkeley National Laboratory have created an inventive conductive polymer coating referred to as HOS-PFM, with the aim of offering electric vehicles lithium-ion batteries that are more robust and longer-lasting. The HOS-PFM coating conducts both electrons and ions concurrently, leading to prolonged battery life, ensuring battery stability, and enabling rapid rates of charging and discharging.
These coatings are also being widely applied in wearables by companies. Large corporations are actively establishing strategic collaborations through partnerships, joint ventures, and mergers and acquisitions, thus further driving the market revenue growth.
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However, the reliance on diverse environmental variables including extreme temperatures, humidity, or chemical exposure, along with intricate regulatory standards and mandatory compliance, frequently imposes limitations on the overall revenue growth of the market.
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 21.65 Billion |
| CAGR (2023–2032) | 7.5% |
| Revenue forecast to 2032 | USD 44.57 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, material, application, end-use, and region. |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | PPG Industries, Inc., Heraeus Holding, InkTec Co., Ltd., Axalta Coating Systems, Henkel Corporation, Akzo Nobel N.V., Creative Materials, NovaCentrix, Hioki E.E. Corporation, and Nanotech Energy among others. |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global conductive electrode coatings market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective conductive electrode coatings. Some major players included in the market report are:
- PPG Industries, Inc.
- Heraeus Holding
- InkTec Co., Ltd.
- Axalta Coating Systems
- Henkel Corporation
- Akzo Nobel N.V.
- Creative Materials
- NovaCentrix
- Hioki E.E. Corporation
- Nanotech Energy
Strategic Development
- On 16 January 2023, AkzoNobel introduced an innovative series of Resicoat EV powder coatings designed to safeguard the battery system and electrical elements in the next wave of Electric Vehicles (EVs). The Resicoat EV lineup consists of five distinct product lines, each meticulously engineered to elevate the safety and efficiency of these EVs.
Some Key Highlights From the Report
- The copper segment is expected to account for largest revenue share in the market over the forecast period. Revenue growth of this segment is driven by characteristics such as thermal conductivity, ready availability, cost-effectiveness, resistance to corrosion, and high ductility and malleability. Copper conductive electrode coatings serve as a crucial element across various domains. They have a fundamental role in the production of Printed Circuit Boards (PCBs). Furthermore, in the healthcare sector, these coatings are applied to medical equipment, including Electrocardiogram (EKG) electrodes and biosensors, where they are essential for establishing dependable electrical connections to monitor and diagnose medical conditions.
- The automotive segment is expected to register a considerable revenue CAGR over the forecast period. Within the automotive sector, these coatings find application in sensors, battery systems, Electronic Control Units (ECUs), and electric power steering, among various other components. Conductive coatings are pivotal in guaranteeing reliability and efficiency of automotive lighting systems, steering mechanisms, and Automated Driver Assistance Systems (ADAS). Furthermore, they contribute to protecting sensitive automotive electronics from Electromagnetic Interference (EMI).
- The market in Asia Pacific accounted for largest revenue share in 2022 and is also expected to register highest revenue CAGR in the global conductive electrode coatings market during the forecast period. Factors such as increased utilization of electrode coatings in electric vehicles, their swift adoption in Asian countries, technological advancements in electrical and electronic components, and integration of these coatings in sensors are driving revenue growth of the market in this region. Supportive government initiatives aimed at promoting electric vehicle adoption are increasing the use of EVs, indirectly influencing the market revenue growth.
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Emergen Research has segmented the global conductive electrode coatings market on the basis type, material, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019–2032)
- Polyesters
- Polyurethanes
- Acrylics
- Epoxy
- Others
- Material Outlook (Revenue, USD Billion; 2019–2032)
- Copper
- Aluminum
- Silver
- Others
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Sensors
- Electrochemical Cells
- Medical Devices
- Electromagnetic Interference (EMI) Shielding
- Displays and Touchscreens
- Data Storage
- Superconductors
- Capacitors
- Others
- End-Use Outlook (Revenue, USD Billion; 2019–2032)
- Electronics and Semiconductor Industry
- Healthcare
- Aerospace and Defence
- Automotive
- Textiles
- Construction
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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