QYResearch: Global Electrical Contacts and Contacts Materials Market Worth $ 3.55 billion by 2022

Analyst: Qinwei

Company: QYResearch

Electrical contacts are soft, high-conductivity, oxidation-resistant materials used as the makeup of electrical components. They are the materials in a system through which an electrical current flows. Electrical contacts are generally made from metals with high electrical conductivity. The most commonly used metal surfaces for contact alloys are silver, copper and other auxiliary metal, like gold, platinum, and palladium. Tungsten, nickel, graphite, and molybdenum are materials that enhance the structural properties of highly conductive metals and some are used individually for specialized contacts and components.

According to this report, in 2016 the output value of the global electrical contact materials market is estimated about 3.10 billion dollars, of which from the revenue point of view, downstream low-voltage electrical products occupies over 80% share of total market size. The top three manufacturers are Metalor, DODUCO and Umicore respectively with global revenue market share as 13.56%, 8.84% and 8.99% in 2016.

At present, in developed countries, the electrical contacts and contact materials industry is generally at a more advanced level. The world's enterprises are mainly concentrated in China (include foreign companies). China’s electrical contacts and contact materials industry has developed into a national wide status with certain research and production capacity, industry product mix has gradually improved, currently. China has become a large international production and consumption country of electrical contacts and contact materials, but the production technology is relatively laggard to produce some low-end product. With the development of Chinese electrical contacts and contact materials production technology, their share in the international market is increasing, and competitiveness in the international market gradually increases.

With the gradual development of the rapid growth of the national economy, as well as downstream industries, the demand for electrical contact materials is increasing, which provides a good opportunity for the development of electrical contact materials market and technology. It is expected that the next five to ten years low-voltage electrical industry will maintain a high growth rate of annual growth rate between 4% and 6%.

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