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2024

India Consumer Electronic External Coating Market

India Consumer Electronic External Coating Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and, by End-Use : Country Opportunity Analysis and Industry Forecast 2022-2032

MC : Bulk Chemicals

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Author's: Anjumnisha Sayyad | Eswara Prasad
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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. The rise in the smartphone market and rise in demand for consumer electronics in India stand as a pivotal driver propelling the demand for India consumer electronic external coating market.

Introduction

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 defense from minor impacts, thereby decreasing the chances of aesthetic damage.

India Consumer Electronic External Coating Market

Many consumer electronics coatings are formulated to repel water and prevent moisture from seeping into the device, thus safeguarding the internal components from damage caused by exposure to liquids. Furthermore, these coatings often feature UV resistance to protect against the harmful effects of prolonged exposure to sunlight, which cause discoloration and deterioration of the device's surface over time. Moreover, consumer electronics coatings also incorporate antimicrobial properties to inhibit the growth of bacteria and other microorganisms on the device's surface, promoting hygiene and reducing the risk of contamination.

Key Takeaways

  • Quantitative information mentioned in the India consumer electronic external coating market includes the market numbers in terms of value ($Million) concerning different segments, annual growth rate, CAGR (2023-32), and growth analysis.
  • The analysis in the report is provided based on type, and end-use. The study is expected to contain qualitative information such as the market dynamics (drivers, restraints, opportunities), Porter’s Five Force Analysis, key regulations across the region, and value chain analysis.
  • A few companies, including AkzoNobel N. V, Arkema, DAIKIN INDUSTRIES, Ltd., Dow, Eastman Chemical Company, H.B. Fuller Company., hold a large proportion of the India consumer electronic external coating market.
  • This report makes it easier for existing market players and new entrants to the India consumer electronic external coating industry to plan their strategies and understand the dynamics of the industry, which helps them make better decisions.

Market Dynamics

Rise in demand for consumer electronics in India is set to drive significant growth in the consumer electronics external coatings market. With the proliferation of smartphones, laptops, tablets, and other electronic devices across both urban and rural areas, there is rise in demand for protective coatings to safeguard these products from daily wear and tear. As consumers rely more heavily on electronic devices for communication, entertainment, work, and education, they seek products that offer enhanced durability, aesthetics, and longevity. According to the India Brand Equity Foundation (IBEF), the Indian government intends to elevate India's share in the electronics sector by approximately $400 billion, including exports valued at $120 billion. This initiative aims to boost India's presence in the value chains to 9-10%, a significant rise from the current 1-2% potential.

According to Invest India, India is expected to achieve $1 trillion digital economy by the fiscal year 2025-2026. Presently, the electronics market in India stands at a value of $155 billion, with domestic production contributing 65% to this figure. Protective coatings play a crucial role in providing resistance against scratches, abrasions, moisture, and other environmental factors, thereby prolonging the lifespan of electronic devices, and maintaining their visual appeal. Moreover, the advent of advanced coating technologies has enabled manufacturers to offer coatings with additional functionalities such as anti-fingerprint, anti-microbial, and impact resistance properties, further fueling consumer interest. As a result, the consumer electronics external coatings market in India is poised to capitalize on this trend, with coatings becoming an integral component of electronic devices, contributing to their overall value proposition, and driving the market growth.

Rise in the smartphone market in India is projected to be a significant driver for the growth of the consumer electronics external coatings market. As one of the world's largest and fastest-growing smartphone markets, India presents a lucrative opportunity for coatings manufacturers. With increasing smartphone ownership driven by factors such as rise in disposable incomes, expanding 4G and 5G networks, and the availability of affordable smartphones, the demand for coatings to protect and enhance these devices is on the rise.

Consumers are increasingly concerned about keeping their smartphones in pristine condition, leading to rise in demand for coatings that offer protection against scratches, fingerprints, and other forms of damage. Moreover, as smartphones become more sophisticated and feature-rich, manufacturers are looking for coatings to differentiate their products, offering unique colors, textures, and finishes that appeal to consumers' aesthetic preferences. Furthermore, rise in e-commerce platforms has made smartphones more accessible to a wider audience, driving the need for coatings that can withstand the rigors of shipping and handling.

The key vendors in the smartphone market are focusing on improving their product offerings and introducing new products in India. For instance, in September 2022, Apple announced the release of the iPhone 14 Pro and iPhone 14 Pro Max. It featured the Always-On display, the first-ever 48 MP camera on an iPhone, Crash Detection, Emergency SOS via satellite, and an innovative new way to receive notifications and activities with Dynamic Island.

Overall, the growing smartphone market in India presents a promising opportunity for coatings manufacturers to cater to the needs of consumers looking to protect and personalize their devices. Price sensitivity poses a significant challenge to the growth of the consumer electronics external coatings market in India. With a large population and diverse socio-economic backgrounds, consumers in India are often price-conscious when purchasing consumer electronics products.

This sensitivity to pricing can limit the market for premium coatings, as consumers may opt for lower-cost alternatives or prioritize other features over the quality of coatings. Moreover, manufacturers may feel pressured to keep prices low to remain competitive in the market due to rise in competition in the consumer electronics sector.

As a result, coating manufacturers are expected to face challenges in achieving profitable margins while catering to the pricing demands of the market. Balancing the need for cost-effective solutions with maintaining quality standards becomes crucial for companies operating in the market to overcome the obstacle of price sensitivity and drive sustainable growth.

The demand for scratch-resistant coatings in the consumer electronics market in India presents a highly lucrative opportunity for the market growth. As the Indian consumer base increasingly adopts electronic devices such as smartphones, tablets, laptops, and wearables, the need to protect these electronic devices from scratches and abrasions becomes paramount. Scratch-resistant coatings offer a practical solution to this concern, providing a durable barrier that shields device surfaces from everyday wear and tear. With India's bustling urban centers and hectic lifestyles, where electronic devices are constantly exposed to various surfaces and environments, the appeal of scratch-resistant coatings is significant.

Consumers seek assurance that their devices will maintain their aesthetic appeal and functionality over time, driving the demand for products that offer superior scratch resistance. Moreover, as disposable income rises and consumers become more discerning about the quality and longevity of their purchases, the demand for scratch-resistant coatings is poised for substantial growth. Manufacturers and suppliers who capitalize on this opportunity by offering innovative, high-quality coatings tailored to the needs of the Indian consumer stand to reap considerable rewards in this burgeoning market.

Segment Overview

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 the end use, it is categorized into mobiles and tablets and computer and laptops.

India Consumer Electronics External Coatings Market, By Type

The polyurethane segment accounted for the largest share in 2022. The demand for polyurethane coatings in consumer electronics is driven by their durability, scratch resistance, and aesthetic appeal, along with the increasing production of high-end gadgets and the need for protective and functional coatings in advanced device designs.

India Consumer Electronic External Coating Market
By Type
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Acrylates is projected as the fastest-growing segment.

Acrylates is expected to register the highest CAGR of 5.6% during the forecast period. Rise in demand for acrylates coatings in consumer electronics is driven by their superior durability, UV resistance, and clarity, which enhance device longevity and aesthetics. Additionally, growing consumer preference for sleek, durable, and high-performance gadgets fuels this demand.

India Consumer Electronics External Coatings Market, By End-Use

The mobiles and tablets segment accounted for the largest share in 2022. Increasing demand for external coatings in mobiles and tablets is driven by enhanced device aesthetics, improved durability, resistance to scratches and fingerprints, growing consumer preference for premium finishes, advancements in coating technology, and rising awareness of environmental sustainability.

India Consumer Electronic External Coating Market
By End-use
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Computer and Laptops is projected as the fastest-growing segment.

Computer and laptops is expected to register the highest CAGR of 5.5% during the forecast period. Increase in demand for external coatings in consumer electronics, including computers and laptops, is driven by consumer preferences for enhanced durability, aesthetic appeal, scratch resistance, and protection against environmental factors. Advanced coatings also support brand differentiation and meet regulatory standards for safety and environmental compliance.

Competitive Analysis

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 BENEFITS FOR STAKEHOLDERS

  • The report includes in-depth analysis of different segments and provides market estimations between 2022 and 2032.
  • A comprehensive analysis of the factors that drive and restrict the growth of the India consumer electronic external coating market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the India consumer electronic external coating market growth, in terms of value.
  • Key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current India consumer electronic external coating market trends and future estimations from 2022 to 2032, which help identify the prevailing market opportunities.

India Consumer Electronic External Coating Market Report Highlights

Aspects Details
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By Type
  • Polyurethane
  • Epoxy
  • Acrylates
  • Others
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By End use
  • Mobiles and tablets
    • Back panels
    • Side panels
    • Screens
    • Others
  • Computer and laptops
    • Back panels
    • Side panels
    • Screens
    • Keyboards
    • Others
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Key Market Players

BASF SE, H.B. Fuller Company, Axalta Coating Systems, Dow, Hanjin Chemical Co., Ltd, The Sherwin-Williams Company, Eastman Chemical Company, Arkema, DAIKIN INDUSTRIES, Ltd., Henkel Adhesives Technologies India Private Limited, AkzoNobel N. V

Analyst Review

According to the insights of the CXOs of leading companies, rise in adoption of consumer electronics in India's growing middle-class segment propels the demand for external coatings. As consumers seek devices with enhanced longevity and visual appeal, manufacturers are compelled to invest in coatings that offer both protection and style. In addition, the proliferation of smartphones, laptops, and other gadgets fuels the need for coatings that safeguard these devices from scratches, dust, and moisture.

The CXOs further added that the price sensitivity prevalent among Indian consumers is expected to restrain the growth of the market. While consumers seek quality coatings, they are also price-conscious, opting for lower-cost alternatives. This poses a challenge for manufacturers striving to balance quality and affordability. Moreover, regulatory hurdles and environmental concerns surrounding the use of certain coating materials impose limitations on product development and market expansion.

Furthermore, the emergence of advanced coating technologies, such as nanocoatings and UV-cured coatings, presents lucrative opportunities for innovation and differentiation. Manufacturers have the ability to leverage these technologies to offer coatings with superior protection, durability, and eco-friendliness, thereby tapping into niche segments and gaining a competitive edge. In addition, the trend toward customization and personalization provides an opportunity for coatings tailored to specific consumer preferences. Whether it is matte finish, vibrant colors, or textured surfaces, customization options have the tendency to attract discerning consumers seeking unique electronic devices.

Author Name(s) : Anjumnisha Sayyad | Eswara Prasad
Frequently Asked Questions?

Rise in demand for consumer electronics in India is the key factor boosting the India consumer electronics external coatings market growth

The India consumer electronics external coatings market attained $6.70 million in 2022 and is projected to reach $11.10 million by 2032, growing at a CAGR of 5.3% from 2023 to 2032.

Key players in the India consumer electronics external coatings market include 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.

Increase in the number of government initiatives is the main driver of India consumer electronics external coatings market.

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.

Cost limitations is the restraint factor of India consumer electronics external coatings market.

Polyurethane is the dominating segment based on type

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India Consumer Electronic External Coating Market