Electromagnetic Wave Absorbing Material Market Size, Share, Growth, and Industry Analysis, By Type (Metal electromagnetic wave absorbing material, Polymer electromagnetic wave absorbing material), By Application (Communication, Consumer Electronics, Defense aviation), and Regional Forecast By 2031

Updated On: 29 April 2024

Electromagnetic Wave Absorbing Material Mark Report Overview

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The global electromagnetic wave absorbing material market size was USD 6929.5 million in 2021, as per our research, the market is expected to generate USD 16824.04 million by 2031, exhibiting a high CAGR of 9.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the electromagnetic wave absorbing material market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The substances known as electromagnetic wave absorbers stop electromagnetic energy from incidentally reflecting or transmitting. Rather, these materials absorb such electromagnetic radiations, and the degree to which they do so depends on a variety of circumstances. The absorption rate varies depending on the material type, thickness, and frequency.

COVID-19 Impact: National Lockdown to Deplete Market Growth

In addition to disrupting the global healthcare system and delaying surgeries, treatments, and diagnoses of non-emergency ailments, the onset of COVID-19 advanced industry penetration. Several difficulties related to the COVID-19's effects on the electromagnetic wave absorbing material industry have been noted. The crisis caused some important trends to intensify, changing both supply and demand across industries of the advanced material.

Before the pandemic, significant trends were anticipated to continue to influence the market. Businesses suffered as a result of the outbreak in 2020 and 2021. Many markets were been affected from this because the main focus was on the respiratory issues. The market growth is expected to rebound from the shock over the forecast period.

Latest Trends

"Research and Development to Intensify Market Magnification "

Over the projected period, market is anticipated to increase as a result of rising research and development rising awareness and advantages of the advanced material. A substance must have no or very little transmission and reflection in order to be an effective absorber. A material should have powerful electrical characteristics, permanent magnetic properties such as high magnetic moment, large magneto-crystalline anisotropy, optical transmittance, electrical resistivity, high curie temperature, and low coercivity, among others, to achieve lower transmission and reflection percentages. For EMI suppression applications, characteristics including high dielectric losses, strong magnetic losses, and melting temperature are desirable. The accomplishment of ideal requirements for electromagnetic wave absorbers, including extremely low reflection loss, broad absorption bandwidth, small match thicknesses, and flawless impedance matching, is still a difficult issue even though a lot of research has already been done in this sector. This causes analysts to concentrate more on regional factors and regulatory and influencing factors ahead of any other approach.

Electromagnetic Wave Absorbing Material Mark Segmentation

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• By Type Analysis

According to type, the market can be segmented into metal electromagnetic wave absorbing material, polymer electromagnetic wave absorbing material

Metal electromagnetic wave absorbing material is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into communicationconsumer electronics, defense aviation

Communication consumer electronics is the leading part of the application segment

Driving Factors

"Micro-Component Installation to Boost Market Share "

Electromagnetic wave absorbing material market share rely on rising demand for micro-component installation, as these components emit a range of frequencies that lead to system breakdowns. The market may experience significant expansion due to the growing use of maximum transmit absorbing materials in military and commercial aircraft.

"Military Systems to Expand Market Forwarding "

Many governments are making significant investments to improve their military systems. This element might significantly boost electromagnetic wave absorbing material market growth. The market is also set to develop in the future because to the telecommunications and electronics sectors. The boost electromagnetic wave absorbing material market may rapidly expand as RF absorbers are used in a growing number of electronic products. The expanding role of multilayered epoxy-based coatings as effective absorption materials in garnering more development stars.

Restraining Factors

"Great Chances of Short Circuit to Deplete Market Advancement "

The fact that electromagnets wave absorbing material heat up quickly and lose a lot of electrical energy as a result is one of its drawbacks of the advanced material. The steady magnetic field must be maintained for a continuous power supply. This advanced material is therefore inappropriate for compact places. Since electromagnets' electric current produces the magnetic field, a short-circuit can seriously hurt the operator and the electromagnets themselves. Therefore, the above-mentioned points can prove to be a barrier in the market advancement.

Electromagnetic Wave Absorbing Material Mark Regional Insights

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"Manufacturing Sector to Uplift Market Growth in North America "

In North America, the manufacturing sector is extremely prevalent. As a result, this factor might have a big impact on how the market grows. The market may have a lot of room to develop thanks to the US defense industry. In terms of the global electromagnetic wave absorbing material market, North America holds a 28.3% market share.

The United States military industry is anticipated to expand at CAGR of about 2.5% over the course of the projected period. The robust rise of end-use industries like the military, consumer electronics, and automotive is one of the key growth factors for the regional industry. Also, the regions that define the key players are prepared to grow the North American market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Henkel (Germany)
• 3M (U.S.)
• H.B.Fuller (U.S.)
• Paker Chomerics (U.S.)
• DOW (U.S.)
• Laird Technology (U.S.)
• FRD (U.K.)
• TOKIN Corporation (Japan)
• TDK (Japan)
• TATSUTA (Japan)
• Panasonic (Japan)
• Tech-Etch (U.S.)
• Guangzhou Fangbang Electronics (China)
• Heico (Leader Tech and Quell) (U.S.)
• Suzhou Anjie Technology (China)
• Vacuumschmelze (Germany)
• Shenzhen HFC Shielding Products (China)
• Zippertubing (U.S.)
• A.K.Stamping (U.S.)
• Suzhou City Dudley new material (China)
• Cuming Microwave (U.S.)
• Zhejiang Saintyear Electronic Technologies (China)
• No.33 Research Institute of China Electronics Technology Group Corporation (China)
• JONES TECH PLC (China)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.