The growth of the market is driven by the increase in demand from emerging markets for Electronics Conformal Coatings and high demand for printed circuit boards in the automotive transport and electronics industries.
The Electronics Conformal Coatings Market is forecast to grow from USD 11.79 Billion in 2020 to USD 16.71 Billion by 2028, at a CAGR of 4.49%, during the forecast period. The market is driven by the increase in demand from emerging markets for Electronics Conformal Coatings and high demand for printed circuit boards in the automotive transport and electronics industries.
Electronics Conformal Coatings consists of unique properties like high resistance to dust, salts, moisture, corrosion, high temperature and humidity and increase in reliability of electronic equipment by 5 years. Costly replacement and repair in the event of damage and technological constraints in the application, preparation and drying of Electronics Conformal Coatings are the major restrictions for the market.
Top Lading Players: Henkel (Germany), Illinois Tool Works (US), Shin-Etsu Chemical Co., Ltd (Japan), DOW Corning (US), H.B. Fuller (US), Chase Corporation (US), Europlasma NV (Belgium), MG Chemicals (Canada), Dymax Corporation (US) and Kisco Electronics Conformal Coatings LLC (US).
Some Key Highlights from the Report:
- The Electronics Conformal Coatings Market is forecasted to grow from USD 11.79 Billion in 2020 to USD 16.71 Billion by 2028, at a CAGR of 4.49%, during the forecast period. The market is driven by the increase in demand from emerging markets for Electronics Conformal Coatings and high demand for printed circuit boards in the automotive transport and electronics industries.
- The market for acrylics is expected to grow the largest at USD 4.12 Billion in 2028, at a CAGR of 5.5% during the forecast period. Because of their cheap nature and easy-to-apply properties, acrylic Electronics Conformal Coatings accounted for the largest share. This market is expected to be driven by rising demand for environment friendly or volatile organic compounds (VOCs)-free Electronics Conformal Coatings in countries like Germany and France. Attention is being paid to new products such as Certonal FC-742 and Never Wet, which are likely to improve the use and application of Electronics Conformal Coatings.
- On the basis of application, the market for electronics industry is expected to grow the largest at USD 3.97 Billion in 2028, at a CAGR of 5.06% during the forecast period. The rising growth of the electronic industry and the requirement for Electronics Conformal Coatings on polychlorinated biphenyl (PCB) for improved performance in hazardous environments has been the crucial drivers for the growth of the electronic industry in the market.
- The market for selective coating by machine is expected to reach USD 4.67 Billion in 2028, at a CAGR of 5.2% during the forecast period. This method is suitable for all manufacturing levels and has the advantage that dip coating requires for minimal masking, and if the board is well designed for coating, masking can be completely avoided. Also being applied by machine means that the recommended thickness of an even, uniform and repeatable coating application is guaranteed.
Electronics Conformal Coatings Market Upcoming Growth:
Electronics Conformal Coatings are protective coatings applied to electronic components and printed circuit boards to protect them from environmental factors such as moisture, dust, and chemicals. The market for Electronics Conformal Coatings is expected to grow due to the increasing demand for electronic devices in various industries.
The global Electronics Conformal Coatings market was valued at $9.7 billion in 2020 and is expected to reach $13.6 billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028. The growth of the market can be attributed to several factors such as the increasing demand for electronic devices in various industries such as automotive, aerospace, and healthcare.
Moreover, the increasing demand for high-performance electronic devices that are resistant to harsh environments and extreme temperatures is expected to drive the growth of the market. The development of new formulations and advanced technologies for Electronics Conformal Coatings is also expected to create new opportunities for the market in the future.
However, the growth of the market may be limited by factors such as the volatility of raw material prices and the strict environmental regulations related to the use of Electronics Conformal Coatings. The increasing adoption of alternative technologies such as nano-coatings and plasma treatments may also pose a challenge to the growth of the market.
In conclusion, the Electronics Conformal Coatings market is expected to experience steady growth in the coming years due to the increasing demand for electronic devices in various industries and the development of new technologies for Electronics Conformal Coatings.
Segments covered in the report:
Type (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Acrylics
- Epoxy
- Urethane
- Silicone
- Parylene
- Others
Coating Type (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Brush Coating
- Dip Coating
- Selective Coating by Machine
- Spray Coating
Application (Kilo Tons) (Revenue, USD Million; 2020-2028)
- Electronics
- Automotive Transportation
- Aerospace Defense
- Industrial
- Marine
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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