The global Antistatic Coatings Market is estimated to be valued at US$ 2.44 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Antistatic coatings are thin films or layers applied primarily on electronic components and devices to prevent the build-up of static electricity. They provide excellent protection from electrostatic discharge (ESD), thereby ensuring safer operation of electronic devices. Rapid urbanization and growing usage of electronic devices such as smartphones, laptops, and tablets across the world is fueling the demand for antistatic coatings.
Market key trends:
The development of eco-friendly antistatic coatings is one of the key trends gaining traction in the market. Growing environmental concerns are pushing electronics manufacturers to adopt sustainable coating solutions. Major players are focusing on R&D activities to develop bio-based and water-based antistatic coating systems. For instance, PPG Industries launched a range of bio-based polyurethane dispersions for antistatic coatings in 2020. These coatings have high performance and offer sustainability benefits. Meanwhile, the increasing penetration of electric vehicles is also anticipated to boost the demand for antistatic coatings that protect sensitive EV components from static electricity.
Threat of new entrants: The threat of new entrants is medium as the antistatic coatings market requires high R&D investment and established distribution channels.
Bargaining power of buyers: The bargaining power of buyers is medium due to the presence of multiple antistatic coatings manufacturers globally.
Bargaining power of suppliers: The bargaining power of suppliers is low given the fragmented nature of raw materials supply.
Threat of new substitutes: The threat of substitutes is low as there are limited substitutes for antistatic coatings.
Competitive rivalry: High due to the presence of multiple international players operating in the market.
The global antistatic coatings market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing demand from the electronics industry.
Regional analysis: Asia Pacific dominates the global antistatic coatings market and is expected to maintain its lead over the forecast period, owing to rapid industrialization and growth of end-use industries in China and India. North America is also expected to register significant growth due to the large presence of automotive and electronics industries in the region.
Key players operating in the antistatic coatings market are 3M Company, PPG Industries, Inc., E. I. du Pont de Nemours and Company, Kansai Paint, and RPM International Inc. 3M Company dominates the market with its wide product portfolio and strong distribution network globally.