New York, USA, Sept. 14, 2021 (GLOBE NEWSWIRE) -- A research report published by Research dive on the global electronic protection device coating market explains the impact of COVID-19 pandemic on the present outlook and the future of the market. All-inclusive analysis on drivers, restraints, challenges, lucrative opportunities, COVID-19 impact, key segments of the market, and competitive landscape are provided in the report.
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Highlights of the Report
The outbreak of the COVID-19 has had an unfavorable impact on the electronic protection device coating market. According to the report, the global electronic protection device coating market gathered $13,600.0 million in 2018, and is projected to garner $19,254.2 million by 2026, and exhibit a CAGR of 4.3% during the forecast period from 2019 to 2026. The anticipated market size in 2020 was $15,088.0 million before the outbreak of COVID-19. But, due to the COVID-19 chaos, the market size decreased to $8,811.4 million due to the halt in the production of electronics majorly owing to the shortage in raw materials, workforce, s and logistics during the chaotic situation.
Factors Influencing the Market Growth during Coronavirus Pandemic
The analysts at Research Dive states that the COVID-19 pandemic has impacted the global electronic protection device coating market in negative way. According to the survey conducted by the UK electronic industry, it is witnessed that there is a wide disruption in supply chain of electronic industry owing to the stoppage in the production of electronic components in China, which is the major link of electronic components.
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These factors led to delay in shipments and harm production in other countries around the world. However, not all electronic companies are suffering. For examples, the companies working on remote monitoring and medical devices have gotten an opportunity to grow during this unprecedented times.
Future Scope of the Market
The global electronic protection device coating market is expected to recover and restore its growth by 2nd/3rd quarter of 2023. The rising implementation of electronic protection device coating systems in the automotive sector across the globe is the major factor predicted to bolster the market growth during the forecast period. In addition, scientists are greatly involved in making continuous improvements in electronic technologies in order to develop enhanced safety and provide reliable features to eliminate the risk associated with circuit boards such as short circuit, outbraking, and power failure. These factors are expected to fuel the market growth by 2026. Furthermore, increasing implementation of novel technologies in the electronic protection systems is estimated to create significant growth opportunities for the global electronic protection device coating market.
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Major Market Players
The key players operating in the global electronic protection device coating industry include
- Kisco
- Dymax Corporation
- Dow Corning
- Electrolube
- HB Fuller
- MG Chemicals
- Chase Corporation
- Henkel AG
and others. These players are implementing several strategies such as strategic partnerships, product launches, R&D investments, technological advancements, and others to gain a competitive edge in the global industry.
For instance, in September 2018, Electrolube, the leading manufacturer of electro-chemicals, announced the launch of a new range of electronics protection device solutions for Indian mobile phone & touchscreen device manufacturers looking for high quality sealants, protective coatings, adhesives, and electromagnetic interference (EMI) shielding material.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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