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Conformal Coatings Global Market Report 2024 - By Share, Growth, Demand And Trends, Forecast To 2033
Conformal Coatings Market
As per the report, the conformal coatings market size has grown strongly in recent years. It will grow from $13.49 billion in 2023 to $14.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The conformal coatings market size is expected to see strong growth in the next few years. It will grow to $19.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
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Consumer Electronics Industry Surge Fuels Growth In The Conformal Coatings Market
The growth in demand for the consumer electronics industry is expected to propel the growth of the conformal coatings market. The consumer electronics industry consists of a range of electronic products such as smartphones, TVs, and personal computers. Conformal coatings are used in consumer electronics to combat chemicals, hazardous external conditions, and toxins in offices and residences. For instance, according to ClearSale, a US-based company, the consumer electronics sector's revenue is expected to exceed $450 billion by 2024. Therefore, the growth in demand for conformal coatings from the consumer electronics industry is expected to drive the growth of the conformal coatings market.
Advancements In Uv-Curable Technology Elevate Electronic Component Protection
Companies operating in the conformal coatings market are focusing on developing new UV-curable conformal coatings to strengthen their position in the market. UV-curable conformal coatings provide excellent protection for printed circuit boards (PCBs) and other electronic components. They create a protective barrier that shields the PCBs from environmental factors such as moisture, dust, chemicals, and temperature variations. For example, in 2021, Chase Corporation's (a US-based specialty chemicals company) HumiSeal brand launched a new range of UV-curable conformal coatings called the UV40 range. The UV 40 series of UV-curable conformal coatings provide superior protection and value for medium- and high-volume PCB manufacturing applications. The gel conformal coating materials by HumiSeal offer an application thickness of up to 1mm, nearly 10 times the normal thickness of the conformal coating. The HumiSeal UV40 conformal coating has thermal properties with a continuous operating range of -650 °C (-850 °F) to +1 350 °C (2750 °F) and thermal shock, per MIL-I-46058C, is a military standard that establishes qualification and conformance requirements for conformal coatings and determines which are suitable for application to printed circuit assemblies by dipping, brushing, spraying, or vacuum deposition.
The conformal coatings market covered in this report is segmented -
1) By Type: Acrylic, Silicone, Epoxy, Urethane, Parylene, Other Types
2) By Technology: Water-Based, Solvent-Based, UV-Cured
3) By Operation Method: Dip Coating, Brush Coating, Spray Coating, Chemical Vapor Deposition
4) By End User: Automotive, Consumer Electronics, Aerospace and Defence, Industrial, Other End Users
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Major companies operating in the conformal coatings market report are Dow Inc, Shin-Etsu Chemical Co. Ltd, Henkel AG & Co. KGaA, H.B. Fuller Company and ITW, Altana, Kisco Ltd, Chase Corp, Element Solutions Inc, Dymax, Hitachi Chemical Co. Ltd, Techspray, Electrolube, HumiSeal, Guangdong Sinpo New Materials Technology Co. Ltd, Shenzen Anlihui Electronic Technology Co. Ltd, Shenzhen Jitian Chemical Co. Ltd, Aalpha Conformal Coatings, ACC Silicones Ltd, pva tepla ag, Henkel AG and Co. KGaA, MG Chemicals Europe, Biesterfeld AG, Peters Corporation, ATE Electronics, CoolIT, Silent-Aire, AAON Inc, BasX, Corsair, NZXT, Swiftech, EVGA, Alphacool, Cytec Industries, VSi Parylene, Creative Materials, Axalta Coating Systems Brazil Ltda, Brazilian Color Industry Paints and Coatings, Componel, Lauquen Circuitos Impresos Ltda, Saudi Conduit Coating Company, Michmas Electronics Ltd, Jotun UAE Ltd L.L.C, Henkel Polybit Industries Limited, Anchor Allied Factory- LLC, Panol Industries Rmc Fze, Al Gurg Fosroc Co., Testerion, Test and Rework Solutions (Pty) Ltd, Zetech Surface Mount Technology, Bosco Printed Circuits, Summit Interconnect, WH Circuit Pty Ltd.
Contents of the report:
1. Executive Summary
2. Conformal Coatings Market Report Structure
3. Conformal Coatings Market Trends And Strategies
4. Conformal Coatings Market - Macro Economic Scenario
5. Conformal Coatings Market Size And Growth
…..
27. Conformal Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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