Transparent Conductive Coatings Market Expanding as Applications Soar
Rising demand for transparent conductive coatings in smart devices, coupled with the increase in consumption of smart devices, has bolstered the global market.
According to a recent report from BCC Research, rising demand for transparent conductive coatings in smart devices, coupled with the increase in consumption of smart devices, has bolstered the global market for transparent conductive coatings. The growing number of start-ups and small companies in the Asia-Pacific region has increased the production and consumption of transparent conductive coatings in various applications, yielding increased market expansion.
The global market for transparent conductive coatings is expected to total $5.7 billion and $7.7 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 6.2%. Among all applications, touchscreen and display accounted for more than 76.2% of the global market in 2015, a leading position that it should maintain during the forecast period. Asia-Pacific, which held the largest market share (65.4%) among all regions in 2015, also should grow the fastest at a five-year CAGR of 6.4%.
The era of smart devices has emerged as a result of continuous technological advancements. Indium tin oxide (ITO)-based transparent conductive coatings are highly transparent and conductive, and therefore the most widely used. As a result, the market for ITO-based transparent conductive coatings is vigorous. However, their price fluctuation and limited geographical availability have compelled the industry to search for alternative and cheaper non-ITO material for transparent conductive coating. Conductive nanoparticles, as well as other doped metal oxide and conductive polymers, are expected to be the next promising replacement for ITO.
Continuous advancements are being made in the field of transparent conductive coatings, along with significant reductions in cost, and this should drive further adoption of such technologies. In addition, with the increased number of startups and small companies in the Asia-Pacific region, the production and consumption of transparent conductive coatings in various applications (e.g., consumer electronics, photovoltaics, OLED and EMI shielding, and antistatic coating) are increasing with the establishment of new manufacturing facilities.
Asia-Pacific accounts for the highest market share of the global market, followed by North America and Europe. Increasing demand for transparent conductive coatings in various devices such as mobile phones, tablets, personal computers and other consumer electronics is driving the market.
“Asia-Pacific is the largest producer of consumer electronic devices, including smart phones, tablets, laptops, kiosk displays, public display panels, personal computers and gaming console," said Aneesh Kumar, researcher. “The increasing demand for consumer electronic goods globally, coupled with the increase in demand for products manufactured in Asia-Pacific due to the low material cost and manufacturing costs, particularly in China, India, Taiwan, Korea and Japan, is expected to increase the sales through 2021.”
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