The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“The global conformal coatings market is projected to witness a CAGR of 5.3% during the forecast period.”
The Conformal coatings market is estimated to be USD 977 million in 2020 and is expected to reach USD 1,265 million by 2025 at CAGR of 5.3%. The high growth is attributed to the increase in the number of PCB manufacturers in countries such as China and Taiwan, and other factor is the growing demand from the high-end applications which require conformal coatings. These coatings are used in various industries such as consumer electronics, automotive, aerospace & defense, industrial, and telecommunication.
“Telecommunication is the fastest-growing end-use in the conformal coatings market.”
The introduction of 5G has brought the need for the development of communication infrastructure. The commercial use of 5G worldwide is expected to bring endless opportunities for upstream and downstream industries. PCB majorly has four areas of application during the construction of a communication network, namely wireless network, transmission network, data communication, and fixed-line broadband. Similarly, for the construction of 5G infrastructure, various types of PCBs are required such as PCB backplanes, high-frequency PCB and high-speed multilayer PCBs. In addition to this, the establishment of large 5G macro base stations will also boost the demand for PCB as it is an indispensable electronic material used in the construction of the base station.
“Acrylic conformal coating is the largest type for conformal coating.”
Acrylic conformal coatings are transparent insulating and quick-drying acrylic-based coatings. These are easy to apply and do not require special equipment for application. Acrylic coatings account for a large share of the conformal coatings market, with wide applications in electronics. These coatings protect electric circuits from moisture, dirt, dust, thermal shocks, and scratches that could corrode, short circuit, or otherwise damage the electronic component. They also provide insulation against high-voltage and static discharges. Acrylic-based conformal coatings are fast cure, free from solvents, and easily reparable. It is considered an essential level protection because they are economical and provide protection against a broad level of contamination.
“APAC is expected to be the fastest-growing market for conformal coating during the forecast period.”
APAC is expected to be the fastest-growing market during the forecast period. Due to the presence of huge volume of PCB manufacturers in the region, the demand for conformal coating is expected to grow. Apart from that India is projected to have a rapidly growing consumer electronics market in the coming years due to the rising middle class and increasing disposable income. Thus these scenario is expected to drive the market in the region.
The breakup of primary interviews is given below:
- By Company Type - Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
- By Designation - C level – 45%, Director level – 35%, and Others – 20%
- By Region - APAC – 40%, Europe – 30%, North America – 25%, and Rest of World – 5%
The leading players in the market are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemicals (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemicals (Canada) and Specialty Coatings System (US).
This research report categorizes the global conformal coating market on the basis of type, end-use, and region. The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. The detailed analysis of key market players provides insights into business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and recent developments in the market.
Reasons To Buy the Report:
- This report segments the global conformal coatings market comprehensively and provides the closest approximations of sizes for the overall market and sub segments across various verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions undertaken in the market.