Conformal Coatings Market is projected to expand at a CAGR of 5.5% from 2019 to 2027
In terms of revenue, the global conformal coatings market is projected to expand at a CAGR of 5.5% from 2019 to 2027.
Conformal coatings protect printed circuit boards (PCBs) from chemical, moisture, and other harsh surroundings. Developments in the consumer electronics, automotive, medical, and defense sectors are expected to offer opportunities for the conformal coatings market.
Read report Overview-
The automotive segment accounted for a major share of the conformal coatings market in 2018, owing to the rising trend of production of electric vehicles, autonomous driving, advanced driver assistance systems (ADAS), and networking of vehicles. Active intervention in vehicle actuators is projected to propel the demand for PCBs, thus propelling the demand for conformal coatings during the forecast period.
Acrylic coatings held the largest share of the global conformal coatings market in 2018. These are liquid coatings that can be easily applied, removed, and reworked on. They exhibit high dielectric strength as compared to other coatings. They do not shrink during curing, and are ideal for applications where resistance against moisture is required. However, their resistance to surface abrasion, chemicals, and solvents is lower than other types of conformal coatings.
The spray coating operation method dominated the global conformal coatings market in 2018.
Significant expansion potential of the water-based segment can be ascribed to the environmental friendliness of water-based technology. Water limits the emission of VOCs. Manufacturers are striving to produce conformal coatings for the protection of PCBs by employing the water-based technology.
The conformal coatings market in Asia Pacific is estimated to expand at a CAGR close to 6.0% during the forecast period, owing to the vast prospects exhibited by end-use industries such as consumer electronics, industrial machinery & equipment, automotive, and medicine. The sales of conformal coatings in Asia Pacific were high in 2018 as compared to other regions, owing to the promising electronics manufacturing industry in China, South Korea, Japan, and other Southeast Asia nations.
conformal coatings market strategies
Request A Sample –
Key Drivers of the Conformal Coatings Market
The demand for printed circuit board assemblies coated with conformal coatings has been high in the global electronics industry, in order to achieve optimum long-term performance and reliability.
According to the International Energy Agency (IEA), the number of electric cars on the roads is projected to reach 220 million by 2030.
The number of PCBs in electric vehicles and the intricacy of the modules are higher than that in traditional combustion engine vehicles. This is expected to drive the demand for conformal coatings in the automotive industry by 2027.
The medical segment in the conformal coating market is also projected to be highly attractive, owing to the rise in the demand for conformal coatings for the protection of PCBs used in cardiac pacemakers, blood glucose monitors, blood pressure monitors, CT scanners, electronic microscopes, photometers, control systems, and other medical equipment.
REQUEST FOR COVID19 IMPACT ANALYSIS –
Delayering and Cracking of Conformal Coatings likely to Pose Significant Challenges
Cracking of PCBs coated with conformal coatings is likely to be a major challenge for the conformal coatings market during forecast period. Factors that influence cracking include high curing temperature and extreme environments.
Delayering and cracking issues depend upon the type of coating technology and the operational method adopted. For example, brush coatings usually do not provide uniform thickness. The chances of delamination and cracking are high in this case.
Asia Pacific Expected to be Highly Lucrative in the Conformal Coatings Market
In terms of value, Asia Pacific held a major share of more than 30% of the global conformal coatings market in 2018.
Expansion in the electronics industry in South Korea, Taiwan, and Japan offers growth opportunities for the conformal coatings market in the region.
China’s leading position in various end-user industries such as consumer electronics, aerospace, and automotive is likely to propel the demand for conformal coatings in the near future. After China, India is also expected to exhibit major growth in the conformal coatings market. The demand for electronic devices such as tablets, smartphones, wearable devices, and other connected consumer electronics has been rising in India.
Asia Pacific is likely to be a major region for automotive trends: e-mobility and autonomous driving.
Electro-mobility is a leading priority in China. The country continues to play an increasingly dynamic role as a global provider of e-mobility. According to the Government of China, five million electric cars are set to hit China’s roads by 2020. Manufacturers need to sell at least 12% of their new cars with electric motors in 2020 in order to avoid high penalties.
These trends are anticipated to present significant potential for the conformal coatings market in Asia Pacific.
Explore Transparency Market Research’s award-winning coverage of the global (Chemicals and Materials) Industry
Global Conformal Coatings Market: Key Developments
In February 2018, Europlasma announced that it would open a new R&D center in the Longhua New District of Shenzhen, China. The R&D center would develop Nanofics, a next-generation conformal coating technology.
In January 2017, Shin Etsu Chemical Company Limited announced its plans to increase the production capacity of silicone at its plant in Akron, Ohio. This capacity expansion would cost around US$ 22.5 Mn to the company. The expansion is expected to be accomplished by 2019.
The Electric Vehicles Initiative (EVI), a multi-government policy forum, launched the EV 30@30 campaign in 2017. The campaign involves a collective goal of an average 30% market share for electric vehicles by 2030. This includes cars, trucks, and buses. Such initiatives are anticipated to help meet the Paris Agreement objectives regarding climate change.
Conformal Coatings Market: Competition Landscape
A large numbers of organized and unorganized players operate in the global conformal coatings market. Shin Etsu Chemical Company Limited, Henkel AG & KGaA, Dow Corning, and H.B. Fuller Company cumulatively accounted for more than 30% share of the global conformal coatings market in 2018.
Other players in the conformal coatings market include MG Chemicals, Al Technology, Inc., Chemtronics, Aalpha Conformal Coating, KISCO Limited, Diamond-MT, Simtal Coating Ltd, and Dymax Corporation.
Henkel AG & KGaA was a major player in the global conformal coatings market in 2018. The company is engaged in significant research & development activities. For instance, in September 2017, it introduced two conformal coating metal inks: LOCTITE ABLESTIK EMI 8660S and LOCTITE ABLESTIK EMI 8880S.
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology.
These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Conformal Coatings Market is projected to expand at a CAGR of 5.5% from 2019 to 2027 here
News-ID: 2137085 • Views: 163
More Releases from Transparency Market Research
Analysis of COVID-19 Crisis-driven Growth Opportunities in Diamond Saw Blade Mar …
Saw blades are used in several industries for cutting and sizing several various materials ranging from softer materials such as plastics, foams, and papers to harder materials such as metals, stones, and concrete. Brittle but hard materials such as glass and ceramics also require cutting and sizing, depending upon their applications. Read report Overview- https://www.transparencymarketresearch.com/diamond-saw-blade-market.html All of these materials require different cutting materials and processes. Harder materials need tough materials such as diamonds
Analysis of Potential Impact of COVID-19 on Copper Oxide Nanoparticles Market
Research on nanoparticles is gaining interest due to their properties such as toughness & ductility, increased strength, and high electrical conductivity.Copper oxide nanoparticles are copper based particles with size ranging from 1 to 100 nanometers. These can be manufactured through a natural process or by chemical synthesis. Copper oxide nanoparticles showcase different physical and chemical properties than the bulk material. Read report Overview- https://www.transparencymarketresearch.com/copper-oxide-nanoparticles-market.html The physical and chemical properties of these particles can
Understanding Impact of COVID-19 on Coal Liquefaction Market
Large quantities of coal deposits are available around the globe. Thus, global demand for energy could be met by the usage of coal. The process of converting coal into liquid hydrocarbons such as petrochemicals and liquid fuels is termed as coal liquefaction. Read report Overview- https://www.transparencymarketresearch.com/coal-liquefaction-market.html The key purpose of coal liquefaction lies in generation and production of synthetic oil, which is a partial substitute resource for aromatic hydrocarbons. They are used as
Carnosic Acid Market Predicted to Accelerate the Growth by 2017– 2025
Carnosic acid is a phenolic diterpene with chemical formula C20H28O4. It is a phytochemical extracted from the dried leaves of rosemary or Rosmarinus officinalis – a woody perennial herb. Read report Overview- https://www.transparencymarketresearch.com/carnosic-acid-market.html Carnosic acid is also found in Salvia officinalis, however, rosemary has much higher levels of carnosic acid. Therefore, Rosmarinus officinalis is a major source for commercial extraction of carnosic acid. This acid acts as an antioxidant that protects lipids and
More Releases for Conformal
Conformal Coatings Market Size, Share, Development by 2024
Global Info Research offers a latest published report on Conformal Coatings Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 102 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. Click to view the full report TOC, figure and tables: https://www.globalinforesearch.com/global-conformal-coatings-market_p108841.html A Conformal coating is a protective chemical coating
Conformal Coatings Market Growth and Trends 2018: Top Players are Electrolube, K …
Asia Pacific is the dominant regional market. China, Japan, and South Korea are among the major contributing nations towards the growth of this regional market. The global conformal coatings market generated revenues of worth USD 10.5 billion in 2017 and is anticipated to grow at a CAGR of 5.4% during the forecast period. Request for sample copy of this report @ http://bit.ly/2Dy2UYZ These products are a segment of coatings that are considered
Global Conformal Coating Equipments Market Research Report 2017
Summary This report studies Conformal Coating Equipments in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering Nordson Ultrasonic Systems (USI) Precision Valve & Automation GLENRO INC Specialty Coating Systems Para Tech SCH Technologies Hitachi High-Technologies TTnS Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growth rate
Conformal Coatings Market Size, Share | Industry Trends Analysis Report, 2024
Global Conformal Coatings Market: Overview Conformal coating is a special type of coating applied to electronic devices in order to protect them from external factors such as heat and rain. These form a protective layer shielding electronic circuits from moisture and chemical contaminants and help prolong the life of electronic devices. Various coating methods are used to protect electronic components from external conditions and contaminants. The most popular methods include spray application,
Conformal Coatings Market - Market Growth over the Forecast Period 2021
The report covers forecast and analysis for the Conformal Coatings market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on volume and revenue (USD Million). The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in
Conformal Coatings Market in Electronics Aims Bigger with Technological Innovati …
Conformal coatings are used to protect electronic components from dust, chemicals, moisture and temperature extremes. There are various coating methods are available by which coating materials can be applied. These methods include brush coating, spray application coating and conformal coating dipping. Brush coating can be applied by flow coating the material onto the board and is usually suitable for low volume application, finishing and repair. Brush is coating is highly