New Product Development is the key Strategy Adopted by Industry Players to Boost their Growth in the Global Electrically Conductive Coatings Market
The global electrically conductive coatings market is projected to reach USD 18.88 billion by 2021, at a CAGR of 8.0% from 2016 to 2021. The growing demand for electrically conductive coatings from major end-use industries such as consumer electronic displays, solar industry, automotive, aerospace, bioscience, and others in emerging economies is driving the market.
New product development is the key strategy adopted by industry players to boost their growth in the global electrically conductive coatings market. This strategy accounted for a share of 45.8% of all the growth strategies adopted by the market players between 2011 and 2016. Investments made by key players in new product developments to expand their product portfolios is helping to meet the increasing demand from consumers. Besides new product developments, companies are investing in expanding their electrically conductive coating equipment manufacturing facilities in emerging regions across the globe. Mergers & acquisitions accounted for a share of 25.0% of all the development activities witnessed between 2011 and 2016. Companies are also focusing on the expansions strategy since the last three years. Expansions accounted for 16.7% of all the strategic developments undertaken between 2011 and 2016.
The Asia-Pacific region was the most active region from 2011 to 2016 in terms of strategic initiatives undertaken in the electrically conductive coatings market. Expansions is one of the preferred strategies in the region. Companies such as PPG Industries (U.S.), Henkel AG & Company (Germany), and Akzo Nobel N.V. (Netherlands) underwent several mergers & acquisitions and new product launches in the region to expand their production capacities in electrically conductive coatings.
Companies such as, PPG Industries (U.S.), Henkel AG & Company (Germany), Akzo Nobel N.V. (Netherlands), Axalta Coating Systems (Netherlands), Creative Materials Inc. (U.S). are profiled in this report. These companies have adopted both, organic and inorganic growth strategies.
PPG Industries Inc. (U.S.), Henkel AG & Company (Germany), Akzo Nobel N.V. (Netherlands), Axalta Coating Systems (Netherlands) are the most active players in the global electrically conductive coatings market.
PPG INDUSTRIES (U.S.) is the most active player in the global electrically conductive coatings market. It accounted for the largest share of all the developmental activities undertaken in the electrically conductive coatings market. As a part of its strategy, the company focuses on expanding its electrically conductive coatings business by investing in research & development activities. In one of the strategic moves, the company acquired US based global coatings services provider MetoKote in July 2016, to better understand and meet the customer critical requirements. In another move, the company in February 2016, invested USD 7.8 million in its Innovation Center to provide an elite research and development environment where PPG scientists can ensure customers have access to the most inventive coating solutions.
Another company that has established a strong foothold in the electrically conductive coatings market is Henkel AG & Company (Germany). The company is focused on both, organic and inorganic growth strategies. In June 2016, the company underwent an agreement with ContiTech Elastomer Coatings to work closely in the fields of functional printing and printed electronics. The company also focuses on expanding its base by investing in acquisitions in the U.S and India.
Related Reports:
Electrically Conductive Coating Market by Type (Epoxy, Polyesters, Acrylics, Polyurethanes) and Application (Consumer Electronic Displays, Solar Industry, Automotive, Aerospace, Bioscience) - Global Forecast to 2021
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