The global Conformal Coatings Market size is anticipated to reach USD 1,493.46 million by 2030, according to a new report by Grand View Research, Inc., advancing at a CAGR of 5.9% during the forecast period. The global conformal coatings market is anticipated to grow with the development in aerospace, automotive, consumer electronics, and medical applications across the globe. Rising expectations regarding automation in the abovementioned applications have driven the demand for electronic devices & equipment.
The
conformal coatings provide improved product characteristics, including high
heat, dust, moisture resistance, corrosion resistance, and improved overall
durability. The use of conformal coating has driven the demand for high-quality
dispensing mechanisms to dispense conformal coatings effectively, since poor
dispersion results in cracks in the coating layer and affects PCB functions. In
January 2021, Delta Electronics, Inc. provided a PCB conformal coating
dispensing and inspection solution to an electronic automotive component
manufacturer in Tianjin, China. The mechanism dispenses coatings through a
nozzle and triggers an alarm in case of insufficient or improper dispensing.
Players
in the conformal coatings market are adopting merger & acquisition
initiatives to expand their reach. For instance, in May 2021, Element
Solutions, Inc. acquired H.K. Wentworth Limited, a U.K.-based company involved
in manufacturing conformal coatings, thermal management materials, electronic
cleaning solutions, and encapsulation resins. The company has a presence in over
55 countries and caters to end-user markets, including aerospace & defense,
medical, telecommunications, and consumer electronics. This acquisition can
help Element Solutions, Inc. to expand its conformal coatings manufacturing
capacity in various end-use markets.
Due
to the presence of several players in the conformal coatings market, the
competitive rivalry is high. Conformal coating manufacturers collaborate with
other market players to increase their market share. For instance, in May 2021,
Dymax and HZO, Inc. entered into a strategic alliance to facilitate joint
product development, formulate existing coating solutions, and accelerate
market reach. Dymax is involved in producing conformal coatings, and such
initiatives can strengthen its position in the conformal coatings market.
List
of Key Players in the Conformal Coatings Market
- Henkel AG
& Co. KGaA
- Chemtronics
- Shin-Etsu
Chemical Co., Ltd.
- Dow
- H.B. Fuller
Company
- Chase Corp
- Electrolube
- Europlasma NV
- MG Chemicals
- KISCO LTD
- Dymax
Corporation
- ALTANA AG
- ACC Silicones
Limited
- CSL Silicones
Inc.
- Aalpha
Conformal Coatings
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summary: Conformal Coatings Market Report
Conformal
Coatings Market Report Highlights
- The global
conformal coatings market was valued at USD 930.89 million in 2021 and is
estimated to expand at a CAGR of 5.9% from 2022 to 2030
- Consumer
electronics in the application segment is expected to witness the highest
CAGR of 6.3% during the forecast period, in terms of revenue. This can be
attributed to the increasing awareness of consumers regarding the Internet
of Things (IoT)
and the new upgraded product launches by consumer electronics product
manufacturers
- Acrylic
dominated the product segment and accounted for more than 47.0% share of
the overall revenue in 2021. This high share is attributed to its
properties like the ease of application and removal during rework and
quick-drying, as compared to its counterparts, thereby augmenting the
market growth for acrylic conformal coatings
- Increasing
automation across end-use industries is expected to pave the way for
complex adaptive systems, multi-processing, cloud-based supervisory
control, and data acquisition (SCADA) systems, and programmable automation
controllers (PACs), which are expected to impact the market for conformal
coatings positively
- Asia Pacific
accounted for more than a 51.0% share of the overall revenue in 2021 in
the thermal spray coatings market. Its thermal spray coatings market is
expected to witness a growth of 6.4% to reach a net worth of USD 800.90
million by 2030
Conformal
Coatings Market Segmentation
Grand
View Research has segmented the global conformal coatings market based on
product, application, and region:
Conformal
Coatings Product Outlook (Revenue, USD Million, 2019 - 2030)
- Acrylic
- Epoxy
- Urethane
- Silicone
- Parylene
Conformal
Coatings Application Outlook (Revenue, USD Million, 2019 - 2030)
- Consumer
Electronics
- Automotive
- Medical
- Aerospace
& Defense
- Others
Conformal
Coatings Regional Outlook (Revenue, USD Million, 2019 - 2030)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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