EMI Shielding Materials Market to Rear Excessive Growth During 2024
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.
For
More Information
:https://www.prnewswire.com/news-releases/emi-shielding-market-to-create-lucrative-growth-prospects-with-accelerated-deployment-of-4g-lte-infrastructure-tmr-880143721.html
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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