April 24, 2024

The Growing Antistatic Coatings Market is Driven by Increasing Demand from Electronics Industry

Antistatic coatings are widely used across various industries such as electronics, automotive, and packaging to provide protection against electrostatic discharges or build up. Antistatic coatings are applied on materials and surfaces which tend to generate or attract static electricity like plastics which are increasingly used across various applications. The electronics industry extensively uses antistatic coatings on devices with plastic components as any static discharge can damage delicate electronic components inside devices. With growing technological advancements leading to proliferation of consumer electronics as well as industrial electronic devices, the demand for plastics as housing material has increased tremendously thus driving the need for antistatic coatings to protect such devices from static electricity.

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.

Market key trends:

Some of the major trends driving growth in the antistatic coatings market include rapid expansion of consumer electronics industry and increasing automotive production. Consumer electronics has been one of the major growth drivers for the antistatic coatings market due to extensive use of plastics in devices coupled with demand for preventing static discharge damages. In addition, continuous advances in smartphone technology has fueled demand for consumer electronics globally. Similarly, automotive production growth especially in emerging economies has augmented plastic usage which in turn is driving the need for protective antistatic coatings. Other emerging applications such as packaging, 3D printing and industrial machinery are also contributing to antistatic coatings demand.

Porter’s Analysis
Threat of new entrants: Low due to high capital requirement to operate in a well-established antistatic coatings market and the strong brand identity of existing players.
Bargaining power of buyers: High due to availability of substitutes and less product differentiation. Buyers can negotiate on prices.
Bargaining power of suppliers: Moderate as raw material supplies are generally available from multiple sources but limited supplier substitutes can increase supplier power.
Threat of new substitutes: Moderate threat from other antistatic/conductive coating materials and techniques that can provide same functionality.
Competitive rivalry: High due to presence of many global and regional players competing on product quality, pricing and product innovation.

Key Takeaways
The global antistatic coatings market is expected to witness high growth.

Regional analysis: North America region currently dominates the market due to high demand from automotive and electronics industries in US and Canada. Asia Pacific is expected to witness fastest growth during forecast period due to increasing electronics manufacturing in China, Taiwan, South Korea and other developing nations.

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 is a leading player and offers antistatic coatings under brands like Zetex and Enthone. PPG Industries offers antistatic coatings under brand names like PPG Zystat and PPG Static Bane. E.I. du Pont de Nemours offers antistatic coatings under Corian and Tedlar brand names. Kansai Paint offers antistatic coatings for automotive and electronics applications. RPM International Inc. offers antistatic coatings under brand name Bonderite.