The rising growth of the electronics industry is expected to trigger the demand for EMI wave shielding materials. As electronic technologies continue to evolve, it has led to the emergence of wireless electronics products. In the last few years, there has been a surge in demand for electronic gadgets as it acts as a medium of convenience and novelty for consumers worldwide.
Some of the latest innovations in the sector include smartwatches, wireless headphones, portable gadgets, and drones, among others. Consumers are attracted to sleeker, smaller, and advanced electronic products. The demand for effective EMI wave shielding materials is anticipated to grow owing to the rising demand for speed and convenience.
Fig: Household Consumption Expenditure, 2014–2018 (USD Trillion)
As per the World Bank statistics, the global consumer expenditure reached USD 62.6 trillion in 2018, from USD 59.3 trillion. Increasing consumption expenditure is considered a significant factor in escalating the demand for electronic devices. The burgeoning electronics industry is bolstering the market growth. Moreover, the adoption of drones as delivering equipment by e-commerce players is further increasing production capacities. Key players such as Amazon are transforming the delivery methods by using advanced drones and curated aircraft.
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Increasing online shopping is boosting the e-commerce industry, further propelling the demand for technologically advanced products. Higher consumption of wireless electronic gadgets needs EMI shielding for the smooth functioning of the system. This presents ample business opportunities for EMI shielding material providers to participate in the manufacturing process of the electronics. The trend of partnerships and joint ventures with electronic manufacturers for undisrupted supply of raw materials is a key factor for the market growth.
EMI Wave Shielding Material Market: Segmentation
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* Known and Unknown Adjacencies Influencing the Growth of Market
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* Customer Behaviour Analysis
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