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 growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
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 is Conformal Coatings?
Conformal coatings are thin polymeric layers that protect the printed circuit board (PCB) from chemicals, dust, extreme environmental conditions, and corrosion. They help design miniaturized circuits and electronics by allowing closer track spacing and larger voltage gradients. They conform to the PCB surface through spraying, dipping, vapor deposition, and brushing. They extend the working life of PCB by preventing damage from rough handling and mechanical and thermal stress. As a result, conformal coatings find extensive applications in music players, video recorders, cameras, smartphones, computers, laptops, gaming consoles, remote control cars, televisions, wearable devices, faxes, and printers.
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What are the growth prospects and trends in the Conformal Coatings Industry?
The global conformal coatings market is primarily driven by the rising product applications in the aerospace industry for protecting satellites, space shuttle, passive detection, and aircraft communication systems. Moreover, the surging adoption of conformal coatings in the healthcare industry to protect medical equipment and devices from short circuits and thermal shocks is positively influencing market growth.
Additionally, there is a rise in the demand for PCBs in the automotive sector to withstand moisture, chemicals, and high temperatures. In line with this, the expanding application of automatic driver assistance systems (ADAS) in premium cars is contributing to market growth. Besides this, the increasing demand for PCBs in 5G networks to prevent delayed transmissions and lost signals has catalyzed market growth.
Other factors, including the rising demand for water-resistant electronic devices, ongoing research and development (R&D) activities, and technological advancements in consumer electronics, are also anticipated to propel the market growth.
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
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) and Shin-Etsu Chemical Co. Ltd.
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