According to the new market research report "EMI Shielding Market by Material (EMI Shielding Tapes & Laminates, Conductive Coatings & Paints, Metal Shielding, Conductive Polymers, EMI Filters), Method (Radiation, Conduction), Industry, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the EMI shielding market is expected to be valued at USD 6.3 billion in 2019. It is expected to reach USD 8.2 billion by 2024 at a CAGR of 5.34% from 2019 to 2024.

The factors that are driving the growth of the market include ongoing demonstrations of field trials and pilot projects to develop the viability of 5G technology, stringent EMI regulations, and increasing deployment of the electronics systems in the automotive industry.

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Conductive coatings & paints to hold largest market share in global EMI shielding market

Conductive coatings & paints offer EMI shielding for non-metal surfaces such as plastics. Therefore, it is widely used in smartphones, telecom equipment, medical devices, and military devices. Copper conductive painting is widely used for high-frequency EMI shielding (>30 MHz). Nickel coatings are used in low-frequency applications. Cell phones, tablets, and other consumer electronics such as television sets, telecommunication equipment, medical devices, industrial equipment, military devices, and aerospace equipment are the major applications of conductive nickel coatings. Silver is a highly conductive metal and is used for high performance with an added cost than copper coating; hence, it is used in the most demanding application. The primary application of silver-coated copper conductive coating provides high-conductivity EMI shielding at a reasonable cost.

Automotive industry is expected to exhibit highest growth from 2019 to 2024

The fast-changing automotive manufacturing industry across the world requires EMI shielding solutions to a great extent. There is an increase in demand for electric vehicles and autonomous cars globally. Also, onboard GPS navigation systems, touchscreen infotainment systems, handsfree features, Bluetooth capabilities, and terrain management systems have increased the convenience and safety of both the driver and the traveler, but the increased use of these devices has created more challenges related to unwanted EMI. Hence, more the adoption of advanced electronics, more critical will be the need for EMI shielding in the automotive market.

APAC expected to be fastest-growing region in the EMI shielding market from 2019 and 2024

The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the said market during the forecast period is expected due to the high demand for consumer electronic products such as smartphones and home appliances. On the other hand, the Japanese market would be driven by the demand for electric and hybrid vehicles and advanced consumer electronics products.

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Major players included in the EMI shielding market are Laird (UK), Chomerics (US), PPG Industries (US), Integrated Polymer Solutions (US) and DowDuPont (US). The other key players in this market include companies such as 3M Company (US), Kitagawa Industries (Japan), Tech-Etch (US), Schaffner (Switzerland), and Nolato (Sweden).