EMI stands for electromagnetic interference, which can be defined as the electromagnetic field generated in the radio frequency spectrum by nearby electronic devices. This can adversely affect the working and performance of other electronic devices located in the surrounding area. It may cause increased error rate or a complete shutdown of electric circuits as well. Electromagnetic interference is also known as radio-frequency interference (RFI).
To tackle this problem, EMI shielding materials such as laminates, conductive coatings, and metals are used to protect electronic devices from electromagnetic frequencies. The global EMI shielding materials market is expected to reach USD 8.2 billion by 2024, from USD 6.3 billion in 2019. The market is expected to grow at a CAGR of 5.34% during 2019 to 2024.
EMI shielding materials are widely used in electronics, aerospace, automotive, defense, and other industries. The telecommunication industry is one of the main end-users of EMI shielding materials. The demand for these materials increases with every single new technological advancement that takes place in the telecommunication industry.
Next generation integrated electronic circuits, as well as stacked & multi-chip package structures are very sensitive to electromagnetic interferences. So, the increasing use of electronic devices and the rising need to protect such devices from EMI will drive the growth of the EMI shielding materials market. The high demand for EMI shielding materials from the 4G/LTE infrastructure across the world will also propel market growth.
The automotive industry is another major user of EMI shielding materials. The demand for autonomous cars and electric vehicles is increasing, along with increased use of touchscreen infotainment systems, onboard GPS navigation systems, Bluetooth capabilities, etc. All these factors are driving the EMI shielding materials market.
Similarly, the use of EMI shielding materials will increase in the defense sector as well. EMI shielding materials are mainly used in the defense sector to shield weapon systems, radars, handheld communication devices, and military satellites from interference. Due to growing geopolitical instabilities in the world, many countries are increasing their defense expenditure and this will increase the demand for EMI shielding materials.
However, the growth of the market will be restricted by stringent regulations which have slowed down the development of advanced electronic devices. Since electromagnetic frequencies are harmful for human health, various regulations to limit the emission of electromagnetic frequencies to protect human health have been implemented by several countries. The slowdown in the development of advanced electronic devices will also affect the demand for EMI shielding materials.
Geographically, the Asia-Pacific region is expected to grow with the highest rate in the coming years. This is mainly due to the fact that the majority of electronic devices and equipment sold throughout the world are manufactured in this region and then exported to other regions. Therefore, the consumption of EMI shielding materials is high in the Asia-Pacific region. At present, Europe and North America are leading the global EMI shielding materials market.
The major players operating in the global EMI shielding materials market are, 3M company, Laird, Chomerics, Chang Gu Chuan (CGC) Technology Co., Ltd., Orion Industries Inc., PPG Industries, Integrated Polymer Solutions, Premix, Greene Rubber Company, Parker Hannifin Corp, System Integrators LLC, HEICO Corporation, Simotec Co. Ltd., Kitagawa Industries Co., Ltd., and Schaffner Holding.