The global market for conductive compounds should grow from $8.4 billion in 2019 to reach $11.4 billion by 2024 at a compound annual growth rate (CAGR) of 6.3% for the period of 2019-2024.
This report includes an analysis of the conductive compounds market based on material form, application, type, resin type and region. Revenue forecasts for 2018 through 2024 are provided for these segments. The conductive compounds market is segmented into four categories –
– By material form: conductive adhesives, conductive greases, conformal coatings and gap-filling compounds.
– By application: electrical and electronics and industrial.
– By type: thermally conductive compounds, electrically conductive compounds.
– By resin type: acrylics, polyurethanes, acrylics, epoxies and others.
– By region: Asia-Pacific, North America, Europe and the Rest of the World (RoW).
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Estimated values used are based on manufacturers’ total revenues. Projected and forecast revenue values are in constant U.S. dollars unadjusted for inflation.
The scope of this report also includes identification of the leading companies in the conductive compounds market and the key areas in the field that are driving industry growth and allowing these companies to succeed. This report also explores industry structure, noting strategic alliances and acquisitions.
– 39 data tables and 18 additional tables
– Brief description and industry analysis of the global conductive compounds markets
– Analyses of global market trends with data from 2018, estimates for 2019 and projections of compound annual growth rates (CAGRs) through 2024
– Insight into the two types of conductive compounds – electrically conductive compound and thermally conductive compound; their respective properties, advantages, and disadvantages
– Identification of current trends and patterns within the industry; underlying opportunities with respect to material form, additives, region and applications; and issues impacting the global conductive compounds market
– Development in specialty carbon additives like carbon black and carbon fiber and advancement in natural fiber reinforcements and how they lead to overall industry growth and change the regional market dynamics
– Review of regulatory and environmental developments shaping conductive compounds and plastics compounding
– Profile description of the market leading companies, including Alpha Assembly Solutions, Digi-Key Electronics, Epoxy Technology Inc, OMEGA Engineering and Thermon Inc.
Demand for conductive compounds is expected to rise rapidly during next few years. Conductive compounds are designed to set up an electrical or thermally conductive path between components. In many sectors, these substances play an important role for avoiding static electricity. Conductive compounds characteristics vary with the type of material shapes and material systems. These materials are more effective than metals or coatings with surfactants. The composition that creates active final products can be applied to filler material such as chopped fiber, carbon powder or graphite powder. Such materials are extremely viscous and can absorb water as well.
The main driving factor for the growth of the market is the increasing need to efficiently produce desired goods. The heat dissipation needs of certain compounds must be improved as electronic components are smaller and provide more energy than ever before. As high temperatures can make electronic parts inoperable, heat control and proper integrative and miniature design are important to maintain performance and reliability. The use of components made of polymer composite materials is common because they are lighter and less costly in manufacturing than comparable metal components. In the electrical and electronics industry, conductive compounds are also used to drive market growth for electromagnetic safety. The growing trend toward lightweight products is driving market demand.
Increasing government support through investments promotes demand for conductive compounds. Frequent changes in economic policies are gradually hindering market demand. The shortage of skilled personnel for the production of finished products is also hindering the growth of the industry. As a daunting factor for market growth, growing risk due to negligence in following proper precautions remains.
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Asia-Pacific held the highest market share among all regions owing to growth of the electrical and electronics industries, followed by North America. Due to the rapid adoption of the latest technologies and the release of innovative products, North America will see good growth. In addition, growing economies in the region will boost market demand. RoW will have the second-fastest compound annual growth rate (CAGR).
In 2018, the global conductive compounds market was dominated by the Asia-Pacific, where it was led by China, Japan, South Korea and India. The rising demand for conductive compounds in the region is the result of factors such as increasing industrial growth due to government initiatives to promote a monetary framework; this is boost private sector investments aimed at developing the manufacturing sector, particularly in China and India. Several international automotive original equipment manufacturers (OEMs) have set up production bases in the two countries due to the availability of skilled labor, cheap power sources and inexpensive raw materials as compared to Europe and the Americas.
North America is the second-largest region in the global conductive compounds market. The region is home to several electronics companies which need conductive compounds to avoid electronic dissipation.
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