Press release
Strong Growth Ahead: Electric Paint Market Size To Grow At Arecord 6.8% Cagr By 2029
Electric Paint Market
How Big Is the Electric Paint Market Size Expected to Be by 2034?
The electric paint market has shown solid growth. It is forecasted to increase from $22.65 billion in 2024 to $24.24 billion in 2025, with a CAGR of 7.0%. This growth has been fueled by innovations in wearable tech, the growth of IoT, renewable energy expansion, shrinking consumer devices, and healthcare tech developments.
The electric paint market size is forecasted to grow steadily over the next few years. It will reach $31.5 billion by 2029 at a compound annual growth rate (CAGR) of 6.8%. Factors driving this growth include the proliferation of IoT-enabled devices, adoption of touch-sensitive surfaces,
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What Are the Emerging Segments Within the Electric Paint Market?
The electric paint market covered in this report is segmented -
1) By Type: Thermochromic, Photochromic, Soluble Conductive Ink
2) By Product Types: Epoxy, Polyesters, Acrylics, Polyurethanes
3) By Application: Consumer Electronic Displays, Solar, Automotive, Aerospace, Bio-science, Other Applications
Subsegments:
1) By Thermochromic: Reversible Thermochromic Paints, Irreversible Thermochromic Paints
2) By Photochromic: UV-Activated Photochromic Paints, Light-Activated Photochromic Paints
3) By Soluble Conductive Ink: Water-Soluble Conductive Inks, Solvent-Based Conductive Inks
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What Long-Term Drivers Are Shaping Electric Paint Market Trends?
The increasing production of consumer electronics is expected to propel the growth of the electric paint market. Consumer electronics, which include devices like smartphones, laptops, and home appliances, are experiencing growth due to advancements in technology, rising disposable incomes, and changing lifestyles. Electric paint is used in consumer electronics to create conductive pathways, capacitive sensors, and interactive surfaces. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported a significant increase in consumer electronics production. As production in the consumer electronics sector rises, the demand for electric paint will also grow.
Who Are the Top Competitors in Key Electric Paint Market Segments?
Major companies operating in the electric paint market are Heraeus Holding GmbH, Henkel AG & Co. KGaA, PPG Industries Inc., Parker Hannifin Corp., DuPont de Nemours Inc., Akzo Nobel N.V., Sun Chemical Corp., Novacentrix, Electrolube Ltd., Acheson Industries, Lechler S.p.A., Integran Technologies Inc., Cima Nanotech Inc., MG Chemicals, Graphenano, Voltera, Promethean Particles Ltd., Creative Materials Inc., Bare Conductive Ltd., Intelligent Material Solutions Inc., Applied Graphene Materials, Nano3D Biosciences Inc
What Trends Are Driving Growth in The Electric Paint Market?
Leading businesses in the electric paint market are directing their efforts towards creating customized solutions meant for electric vehicle functions, such as conductive powder coatings, to boost resilience and tackle extraordinary issues related to vehicle electrification. Such coatings can offer superior binding, resistance to chemicals, thermal stability, and insulation characteristics, guaranteeing enduring reliability and effectiveness. For example, Akzo Nobel N.V., a Netherlands-based company specialized in producing paints and performance coatings, in January 2023, introduced a line of Resicoat EV powder coatings designed to shield the battery system and electrical components of the upcoming generation of electric vehicles. This new line brings innovative technologies to safeguard and boost diverse components of electric vehicles, like motors, battery systems, and electrical storage units. It comprises Resicoat EVpack for battery pack shielding, Resicoat EVcell for insulation between cells, and Resicoat EVcooling for outstanding thermal and electrical performance in cooling scopes.
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Which Regions Are Becoming Hubs for Electric Paint Market Innovation?
Asia-Pacific was the largest region in the electric paint market in 2023. The regions covered in the electric paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Paint Market?
2. What is the CAGR expected in the Electric Paint Market?
3. What Are the Key Innovations Transforming the Electric Paint Industry?
4. Which Region Is Leading the Electric Paint Market?
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