The global EMI shielding market is expected to be valued at USD 7.0 billion in 2023 and is projected to reach USD 9.4 billion by 2028; it is expected to grow at a CAGR of 5.9% from 2023 to 2028. The growth of the EMI shielding market is propelled by rising proliferation of wireless devices, and increasing demand for consumer electronics. However, increasing complexity due to miniaturization are restraining the growth of the market.
Key players
The EMI shielding market includes significant Tier I and II players like Parker Hannifin Corp (US), PPG Industries Inc. (US), 3M (US), Hankel (Germany), Laird Technologies Inc. (US), Leader Tech Inc. (US), MG Chemicals (Canada), Nolato AB (Sweden), Tech Etch Inc. (US), RTP Company (US), Schaffner Holding AG (Switzerland), are some of the key players in the EMI shielding market.
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Conductive coatings & paints segment is expected to hold the largest share during the forecast period.
The Conductive Coatings & Paints segment in EMI shielding are expected to dominate. Conductive coatings and paints are a versatile solution for EMI shielding due to their ability to be applied to a wide range of materials and their high shielding capability. They are also cost-effective, making them a popular choice for manufacturers and engineers. These factors are contributing to their highest market share in the EMI shielding industry.
Automotive Segment is projected to witness growth at the highest CAGR during the forecast period.
The Automotive sector is anticipated to experience substantial growth during the forecasted period. This growth is being driven by the increasing use of advanced electronic systems in modern vehicles, such as autonomous driving technologies, infotainment systems, and connected features, which are highly susceptible to electromagnetic interference (EMI). Additionally, the transition towards electric and hybrid vehicles has introduced more complex power electronics, further amplifying the demand for robust EMI shielding solutions.
Asia Pacific to dominate EMI shielding market during the forecast period.
Asia Pacific is expected to dominate in the EMI shielding market during the forecast period. Asia Pacific is a global manufacturing hub for electronics, with countries like China, India, and South Korea leading the production of smartphones, computers, consumer electronics, and other electronic devices. This extensive manufacturing base creates a high demand for EMI shielding solutions to protect these devices from electromagnetic interference.