New York, United States , Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global Conformal Coating Market Size is to Grow from USD 1.33 Billion in 2022 to USD 2.19 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.1% during the projected period. As industries around the world continue to rely on electronics to run their businesses and consumers demand more durable and robust electronic products, this market is expected to grow.
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Conformal coatings are specialized protective coatings used to protect printed circuit boards (PCBs) and electronic components against environmental elements such as moisture, chemicals, dust, and extreme temperatures. These coatings improve the dependability and endurance of electronic devices, making them appropriate for use in a wide range of applications, including consumer electronics, aerospace, and automotive. The market for conformal coatings has developed dramatically as a result of growing demand for electronics and the development of IoT devices that require robust protection against harsh working conditions. Geographically, the market spans North America, Europe, Asia-Pacific, and other regions, with Asia-Pacific emerging as the market leader due to the presence of multiple electronics manufacturing hubs. Henkel AG & Co. KGaA, Dow Corning, Electrolube, and H.B. Fuller are among the leading market players. The global conformal coating market is positioned for ongoing expansion as a crucial component in maintaining electronic device dependability and lifespan as technology advances and electronic components become more embedded into our daily lives. Conformal coatings, especially high-performance and specialist coatings, can be very expensive. This pricing barrier may dissuade smaller manufacturers and startups from employing conformal coatings, resulting in substandard electronic product protection.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Conformal Coating Market Size, Share, and COVID-19 Impact Analysis, By Type (Acrylic, Silicone, Epoxy, Urethane, and Parylene), By End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The acrylic segment is expected to hold the largest share of the global conformal coating market during the forecast period.
The global conformal coating market is divided into five types: acrylic, silicone, epoxy, urethane, and parylene. Among these, the acrylic segment is projected to have the largest share of the global conformal coating market during the forecast period. Acrylic coatings are well-known for their ease of application, quick curing time, and high moisture resistance. They are resistant to humidity, chemicals, and dust.
The automotive segment accounted for a significant share of the global conformal coating market in 2022.
The global conformal coating market is segmented by end-use into Consumer Electronics, Automotive, Aerospace & Defense, Industrial, and Telecommunication. Among these, the automotive segment is expected to account for a sizable share of the global conformal coating market in 2022. The automotive segment is a significant contributor to the conformal coating market, owing to the increasing integration of electronics in modern vehicles and the need for robust protection against temperature fluctuations, vibration, and moisture.
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North America is anticipated to hold a significant share of the global conformal coating market over the predicted timeframe.
North America is expected to account for a sizable portion of the global conformal coating market in the coming years. North America has traditionally held a significant share of the global conformal coating market due to its established electronics and automotive industries. Because of the presence of a robust electronics manufacturing sector, particularly in the United States, North America has a mature conformal coating market. The region places a high value on innovation as well as strict quality and environmental standards.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global conformal coating market. Asia-Pacific has emerged as a dominant player in the global conformal coating market in recent years, owing to its massive electronics manufacturing capacity and increasing technological innovation. Asia-Pacific is a major producer of consumer electronics, telecommunications devices, and automotive components, particularly in China, South Korea, Japan, and Taiwan. The region's rapid industrialization and electronics production drive the demand for conformal coatings.
Europe has a considerable proportion of the global conformal coating market due to its well-established industrial base and emphasis on sustainability. The automotive, aerospace, and industrial production industries drive Europe's conformal coating market. Environmental rules in the European Union have also promoted the usage of eco-friendly conformal coatings.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Major vendors in the Global Conformal Coating Market include Chemtronics, Henkel AG & Company, Shin-Etsu Chemical Co., Ltd, Dow, Chase Corporation, Dymax Corporation, Specialty Coating Systems, Electrolube, H.B. Fuller, M.G. Chemicals, and Others.
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Recent Market Developments
- In June 2023, Henkel and Labori International have entered into a distribution agreement. Henkel will retain responsibility for overseeing the brand's business operations during a transitional period, according to the terms of the agreement.
Market Size Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Conformal Coating Market based on the below-mentioned segments:
Global Conformal Coating Market, By Type
- Acrylic
- Silicone
- Epoxy
- Urethane
- Parylene
- Others
Global Conformal Coating Market, By End-Use
- Consumer Electronics
- Automotive
- Aerospace & Defense
- Industrial and Telecommunication
- Others
Global Conformal Coating Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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