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Conformal Coatings Market 2024 - What Are The Main Factors That Contributing Towards Industry Size Growth?

Author : Ronak Bora | Published Date : 2019-05-28 

Global Conformal Coatings Market Report provides complete industry analysis, market outlook, size, growth, opportunities and forecast 2023. This report will assist in analyzing the current and future business trends, sales and revenue forecast. It provides top manufacturers information along with manufacturing cost analysis, industrial chain, sourcing strategy and growth.

Global conformal coatings market size was worth over USD 3 billion in 2014 and is likely to be valued at USD 5.2 billion by 2023, growing at CAGR of above 6.2%.

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Electronics based conformal coatings market size was the largest and accounted for over 35% of the total demand in 2014. This application generated revenue exceeding USD 1.6 billion in 2014 and is likely to register above USD 2.5 billion by 2023. Other major applications include aerospace, medical devices and automotive.

Acrylic resin conformal coatings accounted for more than 65% of the total demand in 2014 and are likely to witness moderate growth rate over the forecast period. Silone resins accounted for more than 25% of the total revenue share in 2014 and are likely to grow at significant rate till 2023. Other major resin types include silicone, polyurethane (PU), epoxy and paralyne.

North America, in particular U.S. conformal coatings market share and accounted for 30% in 2014 and is likely to grow at significant rate over the forecast period. Asia Pacific is likely to witness highest gains over the forecast period owing to electronics industry growth in China, India and South Korea.

Increase in electronic devises sales such as home appliances, laptops and cell phones coupled with demand for proper functioning of PCBs (printed circuit boards) even in harsh environments is likely to drive conformal coatings market. Its main function is to act as protective barrier for PCBs against factors such as corrosive gases, humidity, fungi, dust and solvents.

They also act as stress relief agents for PCB insulation resistance and reduce dendritic growth and metal electromigration between conductors. Conformal coatings are usually applied in te form of thin layers and posses properties such as dielectric and abrasion & thermal resistance. Increasing application scope in automobile industry is likely to drive conformal coatings demand over the forecast period. Automotive industry specifies its use in protecting circuitry against gasoline vapor, brake fluid and salt spray. Electronic system application in the form of GPS & parking systems is growing rapidly and protection against aforementioned factors is vital for ensuring long term reliability. They are used in automotive applications such as under the hood systems and passenger compartments systems such as onboard computers.

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Conformal coatings are applied through dipping, flow coating or spraying. Robotic dispensing systems are most commonly used for myriad applications. Brushing systems are done for small operations or at times of repair work in which uniform coating is difficult. Handheld spray gun is used with low viscosity coatings which are appropriate a bit larger volumes and require masking to protect PCB where coating is not required which includes LED lenses, heat sinks, connectors and speakers. Overspray and consistency is a concern with handheld spray gun.

The global conformal coatings market share is concentrated with few large industry participants such as Cytec Industries, Chase Corp, Dymax Corp, Dow Corning and Glenro Inc. Other prominent players include Epoxies Etc, Electrolube, Henron Manufcaturing, ITW Chemtronics, and Master Bond Inc.

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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