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Electric Paint Market to Record 5.9% CAGR Growth Through 2029 | Global Analysis Report
Electric Paint
Electric Paint Market Outlook: How is the Market Expected to Grow by 2025?
The market for electric paint has seen a significant expansion in the past few years. Its size is expected to increase from $22.65 billion in 2024 to $23.92 billion in 2025, marking a compound annual growth rate (CAGR) of 5.6%. The upswing during the historical period can be traced back to factors such as the emergence of wearable technology, the proliferation of the internet of things (IoT), growth in renewable energy, miniaturization of consumer electronics, and progression in healthcare technology.
Electric Paint Market Forecast: What Size Will It Reach By 2029?
The market size for electric paint is projected to experience robust expansion in the upcoming years, swelling to a value of $30.1 billion by 2029, and an annual compound growth rate (CAGR) of 5.9%. This development during the forecast period can be credited to the proliferation of internet of things (IoT) devices, the advancement of touchscreen technology, strides in printed electronic technology, and the assimilation of smart home devices. Key trends expected to shape the outlook period include the continued expansion in IoT devices, progressive advancements in automotive electronics, individualized customization for DIY projects, a broadened outreach into medical devices, and inclusion into energy harvesting systems.
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Which Key Market Drivers Will Shape Electric Paint Industry Trends in 2025-2029?
The surge in production of consumer electronics is anticipated to fuel the expansion of the electric paint market. Devices such as smartphones, laptops, televisions, and home appliances, intended for day-to-day use, comprise consumer electronics. The growth of consumer electronics is facilitated by technological advancements, elevated disposable incomes, transforming lifestyles, and a rising demand for connected devices, entertainment solutions, and smart home amenities. Electric paint is used in consumer electronics to create conductive paths, capacitive sensors, and interactive surfaces. The Japan Electronics and Information Technology Industries Association, revealed in May 2023, that the overall production of electronic equipment in Japan was $5,128.55 million (¥771,457 million). Moreover, the production of consumer electronics reached $213.39 million (¥32,099 million) in May 2023, a significant rise from $155.79 million (¥23,425 million) in January 2023. As a result, the escalating production of consumer electronics is propelling the electric paint market's growth.
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What Are the High-Growth Segments in 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
Which Global Trends Are Driving Electric Paint Market Expansion?
Key players in the electric paint market are concentrating their efforts on creating specialized formulations specifically designed for electric vehicles. These include conductive powder coatings, which not only increase durability but also address the unique hurdles faced in vehicle electrification. These coatings offer superior adhesion, resistance to chemicals, thermal stability, and insulation attributes, ensuring reliable and efficient long-term performance. For example, in January 2023, Akzo Nobel N.V., a company based in the Netherlands that specializes in manufacturing paints and performance coatings, introduced their Resicoat EV powder coatings range. This was specifically developed to safeguard the battery systems and electrical components of newer electric vehicle models. This innovative range uses advanced technology to preserve and improve different electric vehicle components such as motors, battery systems, and electrical storage units. In addition, it features Resicoat EVpack for battery pack protection, Resicoat EVcell for cell-to-cell insulation, and Resicoat EVcooling for enhanced thermal and electrical performance in cooling applications.
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Who Are the Fastest-Growing Companies in the Electric Paint Industry?
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 Is the Regional Outlook for the Electric Paint Market by 2029?
Asia-Pacific was the largest region in the electric paint market in 2024. The regions covered in the electric paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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