Global Conformal Coatings Market to Surpass 1.57 Billion by 2030 Driven by Growing Demand for Electronics
SkyQuest projects that the global conformal coatings market will attain a value of USD 1.57 billion by 2030, with a CAGR of 6% during the forecast period (2023-2030). The global conformal coatings market is driven by factors such as the growing demand for electronics, advancements in coating technologies, and the need for reliable protection against environmental factors. Factors such as the rising production of electronic devices, advances in coating technologies, and the emergence of new applications are driving the market expansion.
Westford, USA, Feb. 13, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the global conformal coatings market is experiencing robust growth, primarily driven by several key factors. A One significant driver is the increasing demand for electronics in the both consumer and industrial sectors, which has created a heightened need for effective protective solutions.
*Browse in-depth TOC on the "Conformal Coatings Market” *
· Pages - 157
· Tables – 65
· Figures – 75
The growth of the global conformal coatings market is intricately tied to their utilization across a broad spectrum of industries, including automotive, medical, consumer electronics, and aerospace & defense. These coatings have become indispensable in these sectors due to the rising prevalence of miniaturized circuitry and electronic devices.
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*Prominent Players in Global Conformal Coatings Market*
· Chase Corporation
· Dymax Corporation
· Specialty Coating Systems
· Electrolube
· H.B. Fuller
· M.G. Chemicals
· KISCO
· DOWA Electronics Materials Co., Ltd.
· ITW (Illinois Tool Works)
· Chase Electronic Coatings
· HK Wentworth Ltd
· Henkel Adhesives Technologies
· Peters Group
· MG Chemicals
· Chemcoaters
· Shin-Nakamura Chemical Co., Ltd.
*Acrylic S**egment to **Dominate** Market due to Ease of Application*
Acrylic segment is the dominant force in the global conformal coatings market, experiencing substantial demand, particularly from the electronics manufacturing sector. These acrylic coatings are widely utilized across various industries, including automotive, consumer electronics, and more. One of the key reasons behind the favorability of acrylic coatings is their ease of application and comparatively straightforward processing methods.
The market in the Middle East & Africa will substantially grow in the global conformal coatings market in the forthcoming forecast period. Countries exhibit a robust agro-processing industry encompassing a wide range of sectors, including food and beverages, textiles, clothing, leather and footwear, and wood and wood products.
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*Consumer Electronics Segment to Witness Significant Growth **due to Growing Concern Regarding the Risk of Circuit Damage*
Consumer electronics segment emerge as a dominant force in the global conformal coatings market. Recent years have witnessed a significant trend towards miniaturizing electronic components within electronic devices. There is a growing concern regarding the risk of circuit damage if the dielectric strength between members falls short with the drive for smaller printed circuit boards (PCBs) and compact product designs.
Asia Pacific has secured a substantial market share and is anticipated to uphold its dominant position over the entire forecast period. This can be attributed to the surging demand from the region's robust electronics manufacturing sector in the global conformal coatings market. Among the Asia Pacific countries, China stands out as the primary consumer of conformal coatings worldwide, contributing significantly to the overall consumption, accounting for approximately 40% of the total market demand.
A comprehensive analysis of the major players in the global conformal coatings market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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*Key Developments in Global Conformal Coatings Market*
· Shin-Etsu Silicones of America, Inc. (SESA), a subsidiary of Japan's Shin-Etsu Chemical Co. Ltd., recently launched a significant product with the MR-COAT-01F and 02F series of conformal coatings. These cutting-edge products are notable for their high hardness and exceptional elongation properties, which translate to enhanced resistance to abrasion and reduced stress on printed circuit board (PCB) components. This innovation is expected to cater to the increasing demand for durable and reliable conformal coatings in various industries.
· HumiSeal recently unveiled a new conformal coating known as UV500-2, specifically engineered to elevate PCB protection. This coating has demonstrated superior performance in rigorous thermal and mechanical cycling tests, making it a viable choice for applications in industries such as automotive and white goods.
*Key Questions Answered in the Global Conformal Coatings Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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