IMARC Group, a leading market research company, has recently releases report titled “Conformal Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global conformal coatings market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Conformal Coatings Market?
The global conformal coatings market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.93% during 2023-2028.
What are Conformal Coatings?
Conformal coatings are thin protective coatings that are applied on printed circuit boards (PCBs). They are manufactured from various materials, such as acrylic, silicone, urethane, and epoxy. They assist in preventing moisture, dust, chemicals, corrosion, airborne contaminants, and temperature fluctuations. Besides this, they aid in enhancing the reliability and lifespan of electronic products while stopping leakage currents and short circuits. As a result, conformal coatings are widely employed in the automotive, medical, and aerospace and defense industries across the globe.
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What are the growth prospects and trends in the conformal coatings industry?
At present, the increasing demand for electronic products, such as smartphones, laptops, computers, and wearable devices, around the world represents one of the major factors contributing to the market growth. Besides this, the escalating demand for conformal coatings due to the increasing adoption of autonomous and electric vehicles (EVs) is strengthening the market growth.
Apart from this, the rising adoption of conformal coatings to avoid degradation or discoloration of electronic components is propelling the market growth. Moreover, the increasing demand for conformal coatings in the aerospace and defense industry for space shuttle control systems, aircraft communications and controls, and robotic cable assemblies is bolstering the growth of the market.
Furthermore, the growing adoption of parylene conformal coatings, as they offer high dielectric strength and superior resistance to moisture, is offering a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Acrylic
- Silicone
- Epoxy
- Urethane
- Parylene
- Others
Breakup by Technologies:
- Solvent-based
- UV-cured
- Water-based
Breakup by Operation Method:
- Dip Coating
- Spray Coating
- Brush Coating
- Chemical Vapor Deposition (CVD)
Breakup by End Use:
- Consumer Electronics
- Automotive
- Medical
- Aerospace and Defense
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 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)
- Shin-Etsu Chemical Co. Ltd
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Article source: https://article-realm.com/article/Business/52206-Conformal-Coatings-Market-Share-Report-and-Forecast-2023-2028.html
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