The latest report by IMARC Group, titled " Conformal Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global conformal coatings market size reached US$ 12.5 Billion in 2022. A conformal coating is a thin polymeric layer used to protect the printed circuit board (PCB) from dust, corrosion, chemicals, and extreme environments. It is applied on the surface of PCBs through spraying, dipping, brushing, and vapor deposition. It also helps design miniaturized electronics and circuits and extend the life of PCB by preventing the damage caused by rough handling and mechanical and thermal stress. Owing to these benefits, conformal coatings are widely utilized in music players, televisions, video recorders, gaming consoles, remote cars, cameras, smartphones, computers, laptops, printers, faxes, and wearable devices.
Global Conformal Coatings Market Trends:
The market is primarily driven by the rising production in the aerospace industry to safeguard aircraft communication, space shuttle, passive detection, and satellite systems. In addition, the increasing utilization of PCBs in the automotive sector to withstand high temperatures, moisture, and chemicals represent another major growth-inducing factor. Besides this, conformal coatings are also adopted in the healthcare industry to protect medical devices and equipment from short circuits and thermal shocks. This, coupled with the escalating demand for water-resistant electronic devices, is positively influencing the market growth. Moreover, key market players are investing in research and development (R&D) activities to develop cost-effective and ultra-thin coatings, which is also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 17.9 Billion by 2028, exhibiting a CAGR of 5.93% during the forecast period (2023-2028).
- Based on the type, the market has been segmented into acrylic, silicone, epoxy, urethane, parylene, and others.
- On the basis of technology, the market has been classified into solvent-based, UV-cured, and water-based.
- Based on the operation method, the market has been segregated into dip coating, spray coating, brush coating, and chemical vapor deposition (CVD).
- On the basis of the end use, the market has been categorized into consumer electronics, automotive, medical, aerospace and defense, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Altana AG, Chase Corporation, CHT Germany GmbH, Dow Inc., Dymax Corporation, Electrolube (HK Wentworth Group), Europlasma NV, H.B. Fuller Company, Henkel AG & Co. KGaA, MG Chemicals, Panacol-Elosol GmbH (Dr. Hönle AG) and Shin-Etsu Chemical Co. Ltd.
|Base Year of the Analysis
||Type, Technologies, Operation Method, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Altana AG, Chase Corporation, CHT Germany GmbH, Dow Inc., Dymax Corporation, Electrolube (HK Wentworth Group), Europlasma NV, H.B. Fuller Company, Henkel AG & Co. KGaA, MG Chemicals, Panacol-Elosol GmbH (Dr. Hönle AG) and Shin-Etsu Chemical Co. Ltd
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