Global Conformal coatings Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Conformal coatings market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Conformal coatings Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Conformal coatings Market forecast.
The Conformal coatings Market report discusses the primary industry
growth drivers and challenges that the vendors and the market as a whole face
and provides an overview of the key trends emerging in the market. It also
talks about the market size of different segments and their growth aspects
along with key leading countries in Americas, Asia-Pacific, Europe, the Middle
East, and Africa regions.
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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.
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.
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