Global conformal coating market is valued approximately at USD 0.8 billion in 2020 and is anticipated to grow with a healthy growth rate of about 6.0% over the forecast period 2021-2027. Conformal coating refers to the thin polymeric film which conforms to printed circuit board contours to provide protection to its components and electronic circuitry from dust, moisture, chemicals, and extreme temperature conditions. These coatings are breathable which allows trapped moisture in the electronic board to escape and maintains protection from contamination. The global conformal coating market is being driven by growing base of the PCB manufacturing and large-scale demand for conformal coating from the automotive industry. Furthermore, technological advancements in end-use industries will provide new opportunities for the global conformal coating industry. Also, growth in the consumer electronics sector will increase the demand for conformal coating for use in PCBs. As per Statista, the global consumer electronics projected market volume is expected to increase from an estimated value of USD 462.6 billion in 2021 to USD 547.1 billion by 2025. This is likely to fuel the market growth by increasing the adoption of conformal coatings. However, expensive replacement and repair of conformal coatings in case of damage may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global conformal coating is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global market and is anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as increasing base of PCB manufacturing in countries including Taiwan, China, Japan and South Korea contributes towards the largest market share of Asia Pacific region. Also, rise in the consumer electronics and automotive manufacturing sector in countries such as India is expected to fuel the demand for conformal coating in the Asia Pacific region in the forecast years.
Major market player included in this report are:
Illinois Tool Works
Shin-Etsu Chemical Co. Ltd.
Specialty Coating Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Aerospace & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Conformal Coating Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers