Overview and Scope
A conformal coating is a thin polymeric layer that is applied to a printed circuit board (PCB) to secure it and its components from corrosion and the environment. These coatings conform to the irregular landscape of the printed circuit board and offer increased operational integrity, dielectric resistance, and reliability.
Sizing and Forecast
The conformal coatings market size has grown strongly in recent years. It will grow from $13.49 billion in 2023 to $14.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing demand for electric vehicles (evs), increasing demand for conformal coatings in medical equipment and increasing demand in aerospace industry.
The conformal coatings market size is expected to see strong growth in the next few years. It will grow to $19.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to government support, global population growth and urbanization and increasing investments in 5g technology and telecom infrastructure. Major trends in the forecast period include government support, global population growth and urbanization and increasing investments in 5g technology and telecom infrastructure.
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Segmentation & Regional Insights
The conformal coatings market covered in this report is segmented –
1) By Type: Acrylic, Silicone, Epoxy, Urethane, Parylene, Other Types
2) By Technology: Water-Based, Solvent-Based, UV-Cured
3) By Operation Method: Dip Coating, Brush Coating, Spray Coating, Chemical Vapor Deposition
4) By End User: Automotive, Consumer Electronics, Aerospace and Defence, Industrial, Other End Users
Asia-Pacific was the largest region in the conformal coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the conformal coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in demand for the consumer electronics industry is expected to propel the growth of the conformal coatings market. The consumer electronics industry consists of a range of electronic products such as smartphones, TVs, and personal computers. Conformal coatings are used in consumer electronics to combat chemicals, hazardous external conditions, and toxins in offices and residences. For instance, according to ClearSale, a US-based company, the consumer electronics sector’s revenue is expected to exceed $450 billion by 2024. Therefore, the growth in demand for conformal coatings from the consumer electronics industry is expected to drive the growth of the conformal coatings market.
Key Industry Players
Major companies operating in the conformal coatings market report are Dow Inc, Shin-Etsu Chemical Co. Ltd, Henkel AG & Co. KGaA, H.B. Fuller Company and ITW, Altana, Kisco Ltd, Chase Corp, Element Solutions Inc, Dymax, Hitachi Chemical Co. Ltd, Techspray, Electrolube, HumiSeal, Guangdong Sinpo New Materials Technology Co. Ltd, Shenzen Anlihui Electronic Technology Co. Ltd, Shenzhen Jitian Chemical Co. Ltd, Aalpha Conformal Coatings, ACC Silicones Ltd, pva tepla ag, Henkel AG and Co. KGaA, MG Chemicals Europe, Biesterfeld AG, Peters Corporation, ATE Electronics, CoolIT, Silent-Aire, AAON Inc, BasX, Corsair, NZXT, Swiftech, EVGA, Alphacool, Cytec Industries, VSi Parylene, Creative Materials, Axalta Coating Systems Brazil Ltda, Brazilian Color Industry Paints and Coatings, Componel, Lauquen Circuitos Impresos Ltda, Saudi Conduit Coating Company, Michmas Electronics Ltd, Jotun UAE Ltd L.L.C, Henkel Polybit Industries Limited, Anchor Allied Factory- LLC, Panol Industries Rmc Fze, Al Gurg Fosroc Co., Testerion, Test and Rework Solutions (Pty) Ltd, Zetech Surface Mount Technology, Bosco Printed Circuits, Summit Interconnect, WH Circuit Pty Ltd.
The conformal coatings market report table of contents includes:
1. Executive Summary
2. Conformal Coatings Market Characteristics
3. Conformal Coatings Market Trends And Strategies
4. Conformal Coatings Market – Macro Economic Scenario
5. Global Conformal Coatings Market Size and Growth
…
32. Global Conformal Coatings Market Competitive Benchmarking
33. Global Conformal Coatings Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Conformal Coatings Market
35. Conformal Coatings Market Future Outlook and Potential Analysis
36. Appendix
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