As of 2022, the electronic conformal coatings market has a net worth of US$ 2.45 billion and is expected to generate sales revenue of US$ 4.3 billion by the end of 2032. From 2022 to 2032, the electronic conformal coatings market is expected to grow at a CAGR of 5.8%.
The European electronic conformal coatings market is expected to grow at a 5.1% CAGR over the forecast period, with a current market share of 25.5% in the worldwide electronic conformal coatings industry landscape.
Key Takeaway Electronic Conformal Coatings Market:
· The electronic conformal coatings market is projected to grow from US$2.45 billion in 2022 to US$4.3 billion by 2032, at a CAGR of 5.8%.
· The Asia Pacific region is expected to witness the highest demand, expanding at a CAGR of 7.1% during the forecast period.
· The automotive electronics application segment is anticipated to dominate, accounting for 41.8% of the market share by 2032.
· Acrylic electronic conformal coatings are projected to reach a market value of US$1.73 billion by 2032.
· Key market drivers include the increasing complexity and miniaturization of electronic components, as well as the expansion of the automotive and aerospace sectors.
Key Companies Profiled:
Henkel AG & Co. KGaA; Chemtronics; Shin-Etsu Chemical Co. Ltd; Dow; H.B. Fuller Company; Chase Corp; Quantum Silicones; Electrolube; Europlasma NV; MG Chemicals; KISCO LTD; Dymax Corporation; ALTANA; ACC Silicones Limited; CSL Silicones Inc.; Aalpha Conformal Coatings
Competitive Landscape :
Key electronic conformal coating manufacturers are focusing on maximizing their revenue generation by increasing their investments in different ventures. Electronic conformal coating suppliers are also investing in the development of tailored conformal coatings for different applications to boost their sales potential.
In October 2020, Henkel AG & Co. KGaA, a German chemical manufacturer, announced an investment in an advanced material start-up company called Actnano, which is based in the United States. Actnano is known for providing tailored conformal coatings for the protection of PCBs in several applications.
In February 2020, Dow, a leading chemical manufacturing company, announced the launch of new conformal coatings. DOWSIL CC-820 UV and Moisture Dual Dual-Core Conformal Coatings were launched to promote sustainability and safety.
Source: https://www.openpr.com/news/2678435/electronic-conformal-coatings-market-is-anticipated-to-exhibit
Comments
0 comment