Press release
Conformal Coatings Industry Outlook, Growth Prospects and Key Opportunities 2024
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.
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Various coating methods are used to protect electronic components from external conditions and contaminants. The most popular methods include spray application, brush coatings, and conformal coating dipping. Regionally, the global conformal coatings market has been segmented into Asia Pacific, Europe, North America, and Rest of the World. The opportunities for expansion exhibited by these regions are examined extensively in the report.
The report on conformal coatings presents a quantitative and qualitative assessment of various factors and government policies influencing the global market. It is compiled with the intent of updating the stakeholders about the prevailing market dynamics and its outlook. The report also includes details pertaining to the investment feasibility in the market and opportunities for new entrants.
Global Conformal Coatings Market: Key Opportunities and Threats
The global conformal coatings market has reported significant growth in the past couple of years. Growth trends exhibited by the market are expected to continue in the next few years. The expansion of the electronics industry, especially in emerging economies, is likely to boost the conformal coatings market. Conformal coatings ensure better moisture and dielectric resistance; these are key factors increasing usage in the electronics industry.
Based on material type, the acrylic conformal coating segment is expected to dominate the market in the near future. Acrylic conformal coatings are easy to apply and the easiest to rework. Additionally, these provide high resistance from abrasion, chemicals, and moisture; take less time to cure, and are available at low cost. These are the key factors encouraging the use of acrylic conformal coatings across industries.
Apart from the electronics industry, demand for conformal coatings is increasing in the automotive electronics segment. Electronics installed in vehicles are exposed to chemical contaminants, harsh working conditions, moisture, dust, and vibration. These factors necessitate the use of conformal coatings on automotive electronics to ensure their better performance and longevity.
Automotive manufacturers strive to offer high quality and reliable smart vehicles at competitive prices. This prevalent trend in the automotive industry in turn is bolstering demand for conformal coatings in the industry.
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Global Conformal Coatings Market: Regional Outlook
Regionally, North America dominates the global conformal coatings market. The market in the region is expected to expand at the highest CAGR during the forecast period. High demand for conformal coatings in industries located in countries such as Canada, Mexico, and the U.S. contributes to the growth of the conformal coatings market in North America. The U.S. holds the largest market share in North America.
Enterprises operating in the global conformal coatings market witness lucrative opportunities in Asia Pacific. The strategic initiatives adopted by companies to gain customers have proven beneficial for the expansion of the conformal coatings market in the region. The rapid expansion of the electronics industry in the region has also contributed to the growth of the conformal coatings market in Asia Pacific.
Global Conformal Coatings Market: Vendor Landscape
In order to study the prevailing vendor landscape in the market, the report profiles companies such as Henkel, Electrolube, Cytec Industries, Inc., Dymax Corporation, Chase Corporation, and DuPont. These companies are studied based on their financial overview, product portfolio, and strategies adopted.
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