15th
July 2019 – The global conformal
coatings market size is expected to value at USD 15.73 Billion by 2024,
during the forecast period. The market is subject to witness a substantial
growth due to the rising demand for end-user products from customer-oriented
electronics market segment. The conformal coating is implemented in electronic
industries to safeguard printed circuit boards and panels from external
environmental factors such as dust, moisture, heat, varying temperatures,
environmental noise and other form of environmental factors. Growing
competition in the conformal coating industry with substantial presence of medium-sized
manufactures, large-scale production houses and suppliers are positively
impacting the industry. Globally, the conformal coatings market is predicted to
grow at CAGR of 5.6% in forecast period, providing numerous opportunities for
market players to invest for research and development of the market.
Growth of electronic and electrical
sector mainly in the developing economies across the globe is pertaining to the
progress of the market. Conformal coatings offer numerous advantages in
comparison with their counterparts such as assurance on better corrosion and
dielectric resistance. Such advantages are playing a key role in rising demand
of the conformal coating market in the electronic industry. Most common form of
materials used for conformal coating is acrylic coating. The acrylic coating
market segment is predicted to hold major share of the material-based segment
of the market in upcoming years.
Acrylic conformal coatings are simple to
apply and rework in case of emergency. They are fairly low priced compared to
other types of the conformal coating with high abrasion and dielectric
coefficient. The acrylic coating also provide protection from moisture and
chemicals, require less time for applying coating to the electronic circuitry.
Such factors are driving application specific conformal coatings market across
range of industry segments. Application of the conformal coating has extended
to the automotive industry as well due its vast set of benefits that puts it
apart from other types coatings.
Material used in the conformal coating
commonly involves a thin polymeric film that are designed to encapsulate the
printed circuit board in order to safeguard the electronic components placed
onto the board from external factors. The thin polymeric films are majorly
varied in thickness from twenty-five micrometers to two hundred micrometers.
They act as a safeguard mechanism to resist accumulation of water, dust,
chemicals, and temperature changes.
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The electronic circuitry is subjected to
harsh environments during their regular use, so it becomes critical to protect
from adverse atmospheric mechanical and chemical reaction, uncoated electronic
circuits can not withstand such hazardous condition, and are bound to fail over
the period of time. The use of conformal coating allows consistent performance
level from the electronic circuitry. A transparent layer of conformal coating
is applied to the coat assemblies that is light weight and allow easier
inspection of the electronic circuitry. The conformal coating is classified
into four distinct classes such as acrylic, urethane, silicone, and varnishes.
The market is divided into regional
market segment such as North America, Europe, Asia-Pacific, Latin America and
Africa. Asia-Pacific region is predicted to hold major market share in the
conformal coatings market with massive growth in forecast period. Countries
such as Taiwan, China, Japan and South Korea are leading the Asia-Pacific
market with the rising investments in the electronics and automotive fields.
Also, rapid industrialization in automotive and consumer electronics production
segment in India is likely to assists reach of conformal coating industry in
the region. North America has shown major growth in recent years owing to the
increasing need for high-tech electronic devices such as global position
systems (GPS) and various products across the automotive sector.
The leading players in the conformal
coatings market are Henkel Company, Chemtronics Incorporations, and Shin-Etsu
Chemical Corporations. The raw materials required for production of conformal
coatings is procured from well-established market players in the chemicals
segment such as BASF SE, and Aditya Birla Chemicals.
Market Segment:
Conformal Coatings Product Outlook
(Revenue, USD Million; 2013 - 2024)
• Acrylic
• Epoxy
• Urethane
• Silicone
• Paralyene
Conformal Coatings Application
Outlook (Revenue, USD Million; 2013 - 2024)
• Consumer Electronics
• Automotive
• Medical
• Aerospace & Defense
• Others
Conformal Coatings Regional Outlook
(Revenue, USD Million; 2013 - 2024)
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• India
• Latin America
• Brazil
• The Middle East & Africa
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