The India consumer electronics external coating market attained $6.7 million in 2022 and is projected to reach $11.1 million by 2032, growing at a CAGR of 5.3% from 2023 to 2032.
Consumer electronics external coatings are protective layers applied to the surfaces of electronic devices such as smartphones, laptops, tablets, and computers. These coatings serve several purposes, including enhancing the aesthetic appeal, providing protection against scratches, impacts, and environmental factors, and improving the durability of the device. One of the primary properties of consumer electronics coatings is scratch resistance. These coatings are designed to withstand everyday wear and tear, including friction from keys, coins, or other objects that may come in contact with the device's surface. Furthermore, they provide defence from minor impacts, thereby decreasing the chances of aesthetic damage.
An increase in the number of government initiatives is poised to be a significant driver for the growth of the consumer electronics external coatings market in India. With a focus on promoting domestic manufacturing and bolstering the electronics sector, the government of India has launched several initiatives aimed at attracting investment, fostering innovation, and supporting local industries. Initiatives such as"Make in India" and the Production-Linked Incentive (PLI) Scheme for electronics manufacturing encourage companies to set up or expand their manufacturing activities in the country.
By providing financial incentives, infrastructure support, and policy reforms, these initiatives create a conducive environment for the electronics industry to flourish, including the segment related to external coatings for consumer electronics. Moreover, government policies advocating sustainability and environmental responsibility drive the adoption of eco-friendly coating materials and processes, aligning with global trends towards green manufacturing. As a result, manufacturers are encouraged to invest in advanced coating technologies that not only enhance product performance and aesthetics but also comply with regulatory standards. Overall, the proactive efforts of the government in promoting domestic manufacturing and innovation is expected to fuel the demand for consumer electronics external coatings, contributing to the growth and competitiveness of the India electronics industry.
Cost limitations pose a significant challenge to the growth of the consumer electronics external coatings market in India. With many consumers being price-sensitive, the demand for affordable coatings becomes crucial. However, achieving a balance between maintaining quality standards and keeping costs low is a challenging task. . Fluctuations in raw material prices directly impact production expenses, reducing profit margins for manufacturers. In addition, intense competition in the market often leads to price wars, further limiting the pricing flexibility of coating products.
Moreover, the need for specialized coatings tailored to different electronic devices adds complexity to the manufacturing process, potentially increasing costs. Addressing these cost limitations requires innovative approaches, such as optimizing manufacturing processes, sourcing cost-effective raw materials, and investing in research and development to create more efficient and economical coating solutions. Failure to overcome these cost constraints is expected to hinder the market growth potential in India, as consumers seek affordable yet high-quality coatings for their electronics.
Advancements in electronics manufacturing present a promising opportunity for the growth of the consumer electronics external coatings market in India. With rapid technological progressions, manufacturers are continually developing new electronic devices with enhanced features and functionalities to meet the evolving demands of consumers. These advancements often result in the introduction of sleeker designs, thinner profiles, and more delicate surfaces in consumer electronics.
Thus, there is rise in need for protective coatings that safeguard these devices from scratches, fingerprints, water damage, and other forms of wear and tear without compromising their aesthetics or functionality. Furthermore, as India emerges as a global hub for electronics manufacturing, driven by initiatives such as Make in India and rise in consumer market, there is increase in demand for high-quality coatings that add value to locally produced electronic goods. This creates a lucrative opportunity for companies operating in the consumer electronics external coatings market to capitalize on the growing market and cater to the needs of both domestic and international electronics manufacturers seeking reliable coating solutions to enhance the durability and appeal of their products.
The India consumer electronics external coatings market is segmented on the basis of type and end use. By type, the market is divided into polyurethane, epoxy, acrylates, and others. On the basis of end use, it is categorized into mobiles and tablets and computers and laptops.
The major players operating in the India consumer electronics external coatings market are AkzoNobel N. V, Arkema, DAIKIN INDUSTRIES, Ltd., Dow, Eastman Chemical Company, H.B. Fuller Company, HANJIN CHEMICAL CO., LTD., Henkel Adhesives Technologies India Private Limited, The Sherwin-Williams Company, and Allnex GMBH., BASF SE, Axalta Coating Systems.
Consumer electronics external coatings are protective layers applied to the surfaces of electronic devices such as smartphones, laptops, tablets, and computers. These coatings serve several purposes, including enhancing the aesthetic appeal, providing protection against scratches, impacts, and environmental factors, and improving the durability of the device. One of the primary properties of consumer electronics coatings is scratch resistance. These coatings are designed to withstand everyday wear and tear, including friction from keys, coins, or other objects that may come in contact with the device's surface. Furthermore, they provide defence from minor impacts, thereby decreasing the chances of aesthetic damage.
An increase in the number of government initiatives is poised to be a significant driver for the growth of the consumer electronics external coatings market in India. With a focus on promoting domestic manufacturing and bolstering the electronics sector, the government of India has launched several initiatives aimed at attracting investment, fostering innovation, and supporting local industries. Initiatives such as"Make in India" and the Production-Linked Incentive (PLI) Scheme for electronics manufacturing encourage companies to set up or expand their manufacturing activities in the country.
By providing financial incentives, infrastructure support, and policy reforms, these initiatives create a conducive environment for the electronics industry to flourish, including the segment related to external coatings for consumer electronics. Moreover, government policies advocating sustainability and environmental responsibility drive the adoption of eco-friendly coating materials and processes, aligning with global trends towards green manufacturing. As a result, manufacturers are encouraged to invest in advanced coating technologies that not only enhance product performance and aesthetics but also comply with regulatory standards. Overall, the proactive efforts of the government in promoting domestic manufacturing and innovation is expected to fuel the demand for consumer electronics external coatings, contributing to the growth and competitiveness of the India electronics industry.
Cost limitations pose a significant challenge to the growth of the consumer electronics external coatings market in India. With many consumers being price-sensitive, the demand for affordable coatings becomes crucial. However, achieving a balance between maintaining quality standards and keeping costs low is a challenging task. . Fluctuations in raw material prices directly impact production expenses, reducing profit margins for manufacturers. In addition, intense competition in the market often leads to price wars, further limiting the pricing flexibility of coating products.
Moreover, the need for specialized coatings tailored to different electronic devices adds complexity to the manufacturing process, potentially increasing costs. Addressing these cost limitations requires innovative approaches, such as optimizing manufacturing processes, sourcing cost-effective raw materials, and investing in research and development to create more efficient and economical coating solutions. Failure to overcome these cost constraints is expected to hinder the market growth potential in India, as consumers seek affordable yet high-quality coatings for their electronics.
Advancements in electronics manufacturing present a promising opportunity for the growth of the consumer electronics external coatings market in India. With rapid technological progressions, manufacturers are continually developing new electronic devices with enhanced features and functionalities to meet the evolving demands of consumers. These advancements often result in the introduction of sleeker designs, thinner profiles, and more delicate surfaces in consumer electronics.
Thus, there is rise in need for protective coatings that safeguard these devices from scratches, fingerprints, water damage, and other forms of wear and tear without compromising their aesthetics or functionality. Furthermore, as India emerges as a global hub for electronics manufacturing, driven by initiatives such as Make in India and rise in consumer market, there is increase in demand for high-quality coatings that add value to locally produced electronic goods. This creates a lucrative opportunity for companies operating in the consumer electronics external coatings market to capitalize on the growing market and cater to the needs of both domestic and international electronics manufacturers seeking reliable coating solutions to enhance the durability and appeal of their products.
The India consumer electronics external coatings market is segmented on the basis of type and end use. By type, the market is divided into polyurethane, epoxy, acrylates, and others. On the basis of end use, it is categorized into mobiles and tablets and computers and laptops.
The major players operating in the India consumer electronics external coatings market are AkzoNobel N. V, Arkema, DAIKIN INDUSTRIES, Ltd., Dow, Eastman Chemical Company, H.B. Fuller Company, HANJIN CHEMICAL CO., LTD., Henkel Adhesives Technologies India Private Limited, The Sherwin-Williams Company, and Allnex GMBH., BASF SE, Axalta Coating Systems.
Key findings of the study:
- Based on type, the acrylates segment is expected to grow in terms of revenue, during the forecast period.
- Depending on end use, the computer and laptops segment is expected to be the fastest-growing segment in terms of revenue, during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the India Consumer Electronic External Coating Market from 2022 to 2032 to determine the prevailing opportunities.- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the market growth in terms of both value and volume.
- Profiles of leading players operating in the market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: INDIA CONSUMER ELECTRONICS EXTERNAL COATINGS MARKET, BY TYPE
CHAPTER 5: INDIA CONSUMER ELECTRONICS EXTERNAL COATINGS MARKET, BY END-USE
CHAPTER 6: CONSUMER OUTLOOK
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Companies Mentioned
- Henkel Adhesives Technologies India Private Limited
- AkzoNobel N. V
- Hanjin Chemical Co., Ltd
- The Sherwin-Williams Company
- H.B. Fuller Company
- DAIKIN INDUSTRIES, Ltd.
- Arkema
- Dow
- Eastman Chemical Company
- BASF SE
- Axalta Coating Systems
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 288 |
| Published | May 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 6.7 million |
| Forecasted Market Value ( USD | $ 11.1 million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | India |
| No. of Companies Mentioned | 11 |
