NEW YORK , May 18, 2022 /PRNewswire/ -- The conformal coating market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The market is segmented by type (acrylic, silicone, epoxy, urethane, and others), application (consumer electronics, automotive electronics, aerospace and defense electronics, medical electronics, and other applications), and geography (APAC, Europe , North America , South America , and MEA).
The market size is expected to grow by USD 280.00 from 2021 to 2025, according to Technavio. The growth momentum of the market will accelerate at a CAGR of 6% during the forecast period.
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The conformal coating market covers the following areas:
Conformal Coating Market Sizing Conformal Coating Market Forecast Conformal Coating Market Analysis
The increasing demand for smart wearables and IoT devices is driving the market. The major application areas for conformal coating are consumer electronics and communication devices. The sale of smartphones, wearables, and IoT devices will drive the demand for conformal coating. Device manufacturers are using advanced coating technology solutions to keep these devices running for a longer duration. This will boost the growth of the global conformal coating market during the forecast period.
Fluctuations in raw material prices are challenging the market. Several chemicals derived from crude oil are used to manufacture conformal coatings. The oil and gas industry is one of the key suppliers of raw materials in the global conformal coating market. Fluctuations in the price of crude oil have an adverse impact on the prices of raw materials, which affects the cost of conformal coatings. They also affect the production cost and reduce the profit margins of vendors. Therefore, volatility in crude oil prices will have a negative impact on the global conformal coating market during the forecast period.
Key Vendors and their Offerings
The conformal coating market report offers information on several market vendors, including Chase Corp., Daikin Industries Ltd., Dow Inc., Dymax Corp., H K Wentworth Ltd., H.B. Fuller Co., Henkel AG & Co. KGaA, KISCO Ltd., MG Chemicals Ltd., and Shin-Etsu Chemical Co. Ltd. among others. The key offerings of some of the vendors are listed below:
Chase Corp. - The company offers a wide range of conformal coatings, including Acrylics, Urethanes, UV Curable, Synthetic Rubber, Silicones, and Water Based used in an array of industries such as aerospace, automotive, including hybrid and EV, industrial controls, white goods, telecoms, etc.
Daikin Industries Ltd. - The company offers a distinctive fluorochemical coating solution that can be coated on PCBs with a thin film to impart waterproof, moisture-proof and corrosion protection to it.
Dow Inc. - The company offers a wide range of conformal coating solutions, including DOWSIL 1-2577 Low VOC Conformal Coating, DOWSIL 1-4105 Conformal Coating, DOWSIL 3-1953 Conformal Coating used as a thin protective film/breathing membrane that filters water vapor and solid debris.
Dymax Corp. - The company offers conformal coatings for printed circuit board (PCB) protection in many high-reliability applications, including military, aerospace, consumer electronics, medical, automotive, appliance, and telecom applications.
H K Wentworth Ltd. - The company offers a range of products designed to service the electronics industry, covering the fields of lubrication, cleaning, conformal coatings and photoresists, and other areas such as anti-static flooring, surface mount products, application machinery, and de-soldering aids.
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Accelerate at a CAGR of 6%
APAC, Europe, North America, South America, and MEA
China, US, Japan, South Korea (Republic of Korea), Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Chase Corp., Daikin Industries Ltd., Dow Inc., Dymax Corp., H K Wentworth Ltd., H.B. Fuller Co., Henkel AG & Co. KGaA, KISCO Ltd., MG Chemicals Ltd., and Shin-Etsu Chemical Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Market outlook: Forecast for 2020 - 2025
Consumer electronics - Market size and forecast 2020-2025
Automotive electronics - Market size and forecast 2020-2025
Aerospace and defense electronics - Market size and forecast 2020-2025
Medical electronics - Market size and forecast 2020-2025
Other applications - Market size and forecast 2020-2025
Acrylic - Market size and forecast 2020-2025
Silicone - Market size and forecast 2020-2025
Epoxy - Market size and forecast 2020-2025
Urethane - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Market Segmentation by Application method
Spray coating - Market size and forecast 2020-2025
Brush coating - Market size and forecast 2020-2025
Selective coating - Market size and forecast 2020-2025
Dip coating - Market size and forecast 2020-2025
Vapor Deposition - Market size and forecast 2020-2025
Market opportunity by Application method
APAC - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Henkel AG & Co. KGaA
Currency conversion rates for US$
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