Jun 25, 2020   SOURCE: BusinessWire

Conformal Coating Market by Type, End-Use, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane, and Parylene), End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global market size for conformal coatings was USD 929 million in 2019 and is projected to reach USD 1.26 billion by 2025, at a CAGR of 5.3% between 2020 and 2025.

The global conformal coatings market is projected to witness a CAGR of 5.3% during the forecast period.

The high growth is attributed to the increase in the number of PCB manufacturers in countries such as China and Taiwan, and another factor is the growing demand from the high-end applications which require conformal coatings. These coatings are used in various industries such as consumer electronics, automotive, aerospace & defense, industrial, and telecommunication.

Telecommunication is the fastest-growing end-use in the conformal coatings market.

The introduction of 5G has brought the need for the development of communication infrastructure. The commercial use of 5G worldwide is expected to bring endless opportunities for upstream and downstream industries. PCB majorly has four areas of application during the construction of a communication network, namely wireless network, transmission network, data communication, and fixed-line broadband. Similarly, for the construction of 5G infrastructure, various types of PCBs are required such as PCB backplanes, high-frequency PCB and high-speed multilayer PCBs. In addition to this, the establishment of large 5G macro base stations will also boost the demand for PCB as it is an indispensable electronic material used in the construction of the base station.

Acrylic conformal coating is the largest type for conformal coating.

Acrylic conformal coatings are transparent insulating and quick-drying acrylic-based coatings. These are easy to apply and do not require special equipment for application. Acrylic coatings account for a large share of the conformal coatings market, with wide applications in electronics. These coatings protect electric circuits from moisture, dirt, dust, thermal shocks, and scratches that could corrode, short circuit, or otherwise damage the electronic component. They also provide insulation against high-voltage and static discharges. Acrylic-based conformal coatings are a fast cure, free from solvents, and easily reparable. It is considered essential level protection because they are economical and provide protection against a broad level of contamination.

APAC is expected to be the fastest-growing market for conformal coating during the forecast period.

APAC is expected to be the fastest-growing market during the forecast period. Due to the presence of a huge volume of PCB manufacturers in the region, the demand for conformal coating is expected to grow. Apart from that India is projected to have a rapidly growing consumer electronics market in the coming years due to the rising middle class and increasing disposable income. Thus these scenario is expected to drive the market in the region.

Market Dynamics

Drivers

  • Growing Base of PCB Manufacturing
  • Increasing Demand From High-End Applications
  • Large Scale Demand From the Automotive Industry

Restraints

  • Expensive Replacement and Repair of Conformal Coatings in Case of Damage
  • Miniaturization of Pcbs

Opportunities

  • Rising Adoption By the Telecommunication Industry
  • Usage in Substrate-Like PCB (SLP)
  • Technological Advancements in End-Use Industries

Challenges

  • Price Pressure on Conformal Coating Manufacturers

Companies Profiled

  • Henkel AG
  • Illinois Tool Works
  • Shin-Etsu Chemical Co. LTD.
  • DOW
  • H.B. Fuller
  • Chase Corporation
  • Electrolube
  • Dymax Corporation
  • MG Chemicals
  • Specialty Coating Systems
  • Altana AG
  • CHT UK Bridgwater
  • CSL Silicones Inc
  • Europlasma NV
  • Peters Group
  • Conins Pune
  • Industrialex Manufacturing
  • AI Technologies Inc
  • Master Bond Inc
  • John C Dolph

For more information about this report visit https://www.researchandmarkets.com/r/6ei581