Entry of Modern Electronic Assemblies to Accelerate Innovations Conformal coatings are extensively used across a host of end-use industries, including electronics, automotive, aerospace, defense, and marine. As the modern electronics sphere continues to progress at a rapid pace, with it, the conformal coatings market has also witnessed a gradual evolution. In the midst of the growing environmental … Continue reading Conformal Coatings Market cross US$ 17 Bn by 2030
Entry of Modern Electronic Assemblies to Accelerate Innovations
Conformal coatings are extensively used across a host of end-use industries, including electronics, automotive, aerospace, defense, and marine. As the modern electronics sphere continues to progress at a rapid pace, with it, the conformal coatings market has also witnessed a gradual evolution. In the midst of the growing environmental concerns and increasing regulatory pressure, at present, conformal coating manufacturers are increasingly focusing on the production of environment-friendly conformal coatings. A range of materials has gained considerable popularity within the conformal coatings market landscape due to promising research outcomes and high eco-friendly quotient.
As modern electronic devices and components are required to withstand hostile operating conditions, including high temperatures, humidity, and thermal shocks, the demand for conformal coatings has witnessed a considerable boost over the past couple of decades– a trend that is set to continue during the forecast period.
Strong expertise with attention to detail makes our market research reports stand apart. Download PDF Brochure –
In addition, as consumers continue to demand lightweight electronics, the robustness and durability of these products are likely to be compromised due to which, conformal coatings are used to boost the protective properties – another factor that is expected to aid the growth of the global conformal coatings market during the assessment period.
Request for Covid-19 Impact Analysis on Conformal Coatings Market:
The global conformal coatings market is expected to cross market value of US$ 17 Bn by the end of 2030.
Market Players to Focus on Addressing Challenges in Modern-day Electronics
As modern-day electronics assemblies gradually evolve due to environmental legislation and transforming consumer preferences, players involved in the current conformal coatings market landscape are increasingly rolling out versatile solvent-based conformal coatings to cater to these requirements.
Buy our Premium Research Report on Conformal Coatings Market @
In the wake of the evolving consumer electronics sector, a range of new generation high-performance conformal coatings is being developed to ensure optimum protection. As a result, innovations across the global conformal coatings market have accelerated at an impressive pace. For instance, over the past few years, encapsulation resin has gained considerable traction across several end-use industries due to its ease of application.
More Trending Reports by Transparency Market Research –
In addition, as conformal coatings play an imperative role in preventing the formation of electrolytic solutions, its adoption has consistently witnessed impressive growth. At present, market players operating in the global conformal coatings market are focusing on improving the functional properties of their products including attaining the required level of coverage in three dimensional and complex topographies of the modern-day printed circuit boards (PCBs). Market players are increasingly investing in new coating concepts and innovations to gain a competitive edge. For instance, the two-component approach has garnered considerable popularity over the past few years, owing to the growing demand for efficient edge-coverage and thickness while simultaneously offering high performance.
Companies Depend on Innovations and New Technologies to Gain Advantage
Due to the evolving regulatory landscape and consumer demean, market players have turned their attention toward product development by deploying new technologies and innovative concepts. As a result, a host of new products have entered the global conformal coatings market over the past few years – a trend that is expected to propel the growth of the global conformal coatings market during the assessment period.
For instance, Electrolube developed a new line of 2K conformal coatings ranges using surface modifier coating to address the existing challenges pertaining to performance during harsh operating conditions. Market players are increasingly leaning toward expanding their product portfolio to gain competitive edge and improve their position in the market. For instance, HumiSeal launched the UV50LV – a low-viscosity, one-part, dual-cure acrylated polyurethane conformal coating with improved functional properties in comparison with the existing product range.
Demand Likely to Dip amid COVID-19 Pandemic, Market Expected to Gain Momentum in 2021
The onset of the ongoing novel COVID-19 pandemic has played a key role in disrupting operations across the prominent end-use industries of conformal coatings, including automotive, aerospace, and electronics. As a result, the demand for conformal coatings has witnessed a slight drop in comparison with the demand in 2019. In addition, heightening restrictions on transportation, cross-border trade, and disruption in the production cycle of conformal coatings in several regions of the world are some of the primary factors that are likely to dent the growth of the global conformal coatings market during the pandemic. However, as industries in China are up and running after the lockdown period in the first quarter of 2020, the market is expected to gradually pick up the pace toward the end of 2020 and the first quarter of 2021.
Analysts’ Viewpoint
The global conformal coatings market is expected to expand at a moderate CAGR of ~5% during the forecast period. The market growth can be primarily attributed to a host of factors, including evolving consumer demands, advent of modern electronic assemblies, high demand from a range of end-use industries such as aerospace, automotive, consumer electronics, etc., and consistent investment in research & development activities. Market players should focus on expanding their product range as well as keep an eye on potential mergers and acquisition opportunities to gain an edge in the market for conformal coatings.
Conformal Coatings Market: Overview
- In terms of value, the conformal coatings market is expected to cross US$ 17 Bn by 2030
- Rise in demand for conformal coatings, owing to their wide usage in consumer electronics and automotive applications is anticipated to boost the global conformal coatings market during the forecast period
- Aerospace is projected to be a highly lucrative end-use industry segment of the global conformal coatings market in the near future
Conformal Coatings Market: Key Drivers and Restraints
- Rise in automotive production and increase in demand for automotive with advanced features are expected to drive the demand for conformal coatings during the forecast period. Demand for flexible and rigid PCBs is high in the automotive industry. Conformal coatings are required to protect PCBs that are used in engines, digital displays, radar, GPS, power relay timing systems, and mirror controls. According to the European Automobile Manufacturers’ Association, the production of motor vehicles stood at more than 80 million in 2017. Demand for automobiles with advanced facilities has been rising. Advanced features require PCB for functioning. This, in turn, is anticipated to boost the demand for conformal coatings.
- Electronics contribute significantly to the medical and healthcare industries. Various medical devices include PCBs or printed circuit boards as their core components. PCBs used in medical applications are referred to as HDI (High Density Interconnect) PCBs.
- Apart from compliance with stringent medical regulations, repeatability and reliability are the two essential qualities that medical PCB suppliers must achieve. PCBs need to be operated without any technical errors. Therefore, they need to be protected from exposure to risky surroundings. Conformal coatings help avoid exposure to unwanted chemicals or other components. Led by the rise in technological advancements in the medical industry, demand for conformal coatings is estimated to increase rise in order to protect the PCBs from external exposures.
- Delamination and cracking in conformal coatings is expected to restrain the conformal coatings market in the near future. Delayering and cracking are related to the type of coating technology applied on the PCB. For instance, brush coatings usually do not provide uniform thickness. Chances of delamination and cracking are high in this case.
Conformal Coatings Market: Key Product Segment
- Based on product, the global conformal coatings market has been divided into acrylic, silicone, polyurethane, epoxy, parylene, and fluoropolymer
- In terms of value, acrylic is a prominent segment of the global conformal coatings market. Acrylic conformal coatings offer excellent humidity and protection from salt mist. Wide range of operating temperatures of acrylic conformal coatings makes them useful in various end-use industries.
Conformal Coatings Market: Major Operation Method Segment
- Based on operation method, the global conformal coatings market has been segregated into dip coating, spray coating, brush coating, and chemical vapor deposition (CVD)
- In terms of value, spray coating was a prominent segment of the global conformal coatings market in 2019. Spray coating is one of the highly efficient and convenient methods of applying conformal coatings onto PCBs. The spray coating method requires low viscosity; hence, solvent-based coatings need to be diluted before the coating is applied.
Conformal Coatings Market: Prominent End-use Industry Segment
- Based on end-use industry, the global conformal coatings market has been classified into consumer electronics, automotive, industrial machinery & equipment, medical, aerospace, defense, marine, and others. The consumer electronics segment is likely to expand at a rapid pace in the near future, as it is a leading consumer of conformal coatings.
Conformal Coatings Market: Major Developments
- In November 2017,Dow Corning introduced advanced silicone coating solutions for protection of printed circuit board assemblies. The DOWSIL brand, developed by both Dow Corning and Dow, is also used in LEDs. The newly introduced brand bonds quickly at low temperatures and supports quicker, low-cost production of electronic modules. It protects printed circuit boards from dust, moisture, harsh chemicals, extreme cycling, and vibrations. Through this launch, the company achieved wide recognition in the global conformal coatings market.
- In November 2017, Electrolube launched highly significant, two-part, UV-cured conformal coatings (2K850). The 2K850 system is a tough, flexible, high-performance coating, which features a wide operating temperature range (from −65°C to 130°C) with excellent thermal shock performance. The coating system is characterized by higher coating thickness, enhanced edge coverage, and improved adhesion, hardness, and scratch resistance.
- In June 2016, Chase Corporation expanded its presence by purchasing Spray Products (India) Private Limited based in Pune, India. The move has enhanced Chase Corporation’s ability to provide technical, sales, manufacturing, chemical handling, and packaging services in Asia Pacific.
- In August 2016, SRG Global, a global manufacturer of chrome-plated and painted plastic parts for automotive, commercial truck, and household appliance industries, introduced G-Coat tint-over-chrome process solution. The G-Coat process delivers distinct metallic surface finishes for exterior and interior applications, and regularly improves paint adhesion to any chrome-plated plastic part. Through this launch, the company achieved wide recognition in the global conformal coatings market.
Conformal Coatings Market: Competition Landscape
- Key manufacturers operating in the global conformal coatings market include
- Henkel AG & KGaA
- Shin Etsu Chemical Company
- Dow Corning
- H.B. Fuller Company
- DAIKIN INDUSTRIES
- Chase Corporation
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Stay Updated on the Latest Trends in Chemicals & Materials Market @ https://www.transparencymarketresearch.com/chemical-market-reports-2.html
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Entry of Modern Electronic Assemblies to Accelerate Innovations
Conformal coatings are extensively used across a host of end-use industries, including electronics, automotive, aerospace, defense, and marine. As the modern electronics sphere continues to progress at a rapid pace, with it, the conformal coatings market has also witnessed a gradual evolution. In the midst of the growing environmental concerns and increasing regulatory pressure, at present, conformal coating manufacturers are increasingly focusing on the production of environment-friendly conformal coatings. A range of materials has gained considerable popularity within the conformal coatings market landscape due to promising research outcomes and high eco-friendly quotient.
As modern electronic devices and components are required to withstand hostile operating conditions, including high temperatures, humidity, and thermal shocks, the demand for conformal coatings has witnessed a considerable boost over the past couple of decades– a trend that is set to continue during the forecast period.
Strong expertise with attention to detail makes our market research reports stand apart. Download PDF Brochure –
In addition, as consumers continue to demand lightweight electronics, the robustness and durability of these products are likely to be compromised due to which, conformal coatings are used to boost the protective properties – another factor that is expected to aid the growth of the global conformal coatings market during the assessment period.
Request for Covid-19 Impact Analysis on Conformal Coatings Market:
The global conformal coatings market is expected to cross market value of US$ 17 Bn by the end of 2030.
Market Players to Focus on Addressing Challenges in Modern-day Electronics
As modern-day electronics assemblies gradually evolve due to environmental legislation and transforming consumer preferences, players involved in the current conformal coatings market landscape are increasingly rolling out versatile solvent-based conformal coatings to cater to these requirements.
Buy our Premium Research Report on Conformal Coatings Market @
In the wake of the evolving consumer electronics sector, a range of new generation high-performance conformal coatings is being developed to ensure optimum protection. As a result, innovations across the global conformal coatings market have accelerated at an impressive pace. For instance, over the past few years, encapsulation resin has gained considerable traction across several end-use industries due to its ease of application.
More Trending Reports by Transparency Market Research –
In addition, as conformal coatings play an imperative role in preventing the formation of electrolytic solutions, its adoption has consistently witnessed impressive growth. At present, market players operating in the global conformal coatings market are focusing on improving the functional properties of their products including attaining the required level of coverage in three dimensional and complex topographies of the modern-day printed circuit boards (PCBs). Market players are increasingly investing in new coating concepts and innovations to gain a competitive edge. For instance, the two-component approach has garnered considerable popularity over the past few years, owing to the growing demand for efficient edge-coverage and thickness while simultaneously offering high performance.
Companies Depend on Innovations and New Technologies to Gain Advantage
Due to the evolving regulatory landscape and consumer demean, market players have turned their attention toward product development by deploying new technologies and innovative concepts. As a result, a host of new products have entered the global conformal coatings market over the past few years – a trend that is expected to propel the growth of the global conformal coatings market during the assessment period.
For instance, Electrolube developed a new line of 2K conformal coatings ranges using surface modifier coating to address the existing challenges pertaining to performance during harsh operating conditions. Market players are increasingly leaning toward expanding their product portfolio to gain competitive edge and improve their position in the market. For instance, HumiSeal launched the UV50LV – a low-viscosity, one-part, dual-cure acrylated polyurethane conformal coating with improved functional properties in comparison with the existing product range.
Demand Likely to Dip amid COVID-19 Pandemic, Market Expected to Gain Momentum in 2021
The onset of the ongoing novel COVID-19 pandemic has played a key role in disrupting operations across the prominent end-use industries of conformal coatings, including automotive, aerospace, and electronics. As a result, the demand for conformal coatings has witnessed a slight drop in comparison with the demand in 2019. In addition, heightening restrictions on transportation, cross-border trade, and disruption in the production cycle of conformal coatings in several regions of the world are some of the primary factors that are likely to dent the growth of the global conformal coatings market during the pandemic. However, as industries in China are up and running after the lockdown period in the first quarter of 2020, the market is expected to gradually pick up the pace toward the end of 2020 and the first quarter of 2021.
Analysts’ Viewpoint
The global conformal coatings market is expected to expand at a moderate CAGR of ~5% during the forecast period. The market growth can be primarily attributed to a host of factors, including evolving consumer demands, advent of modern electronic assemblies, high demand from a range of end-use industries such as aerospace, automotive, consumer electronics, etc., and consistent investment in research & development activities. Market players should focus on expanding their product range as well as keep an eye on potential mergers and acquisition opportunities to gain an edge in the market for conformal coatings.
Conformal Coatings Market: Overview
- In terms of value, the conformal coatings market is expected to cross US$ 17 Bn by 2030
- Rise in demand for conformal coatings, owing to their wide usage in consumer electronics and automotive applications is anticipated to boost the global conformal coatings market during the forecast period
- Aerospace is projected to be a highly lucrative end-use industry segment of the global conformal coatings market in the near future
Conformal Coatings Market: Key Drivers and Restraints
- Rise in automotive production and increase in demand for automotive with advanced features are expected to drive the demand for conformal coatings during the forecast period. Demand for flexible and rigid PCBs is high in the automotive industry. Conformal coatings are required to protect PCBs that are used in engines, digital displays, radar, GPS, power relay timing systems, and mirror controls. According to the European Automobile Manufacturers’ Association, the production of motor vehicles stood at more than 80 million in 2017. Demand for automobiles with advanced facilities has been rising. Advanced features require PCB for functioning. This, in turn, is anticipated to boost the demand for conformal coatings.
- Electronics contribute significantly to the medical and healthcare industries. Various medical devices include PCBs or printed circuit boards as their core components. PCBs used in medical applications are referred to as HDI (High Density Interconnect) PCBs.
- Apart from compliance with stringent medical regulations, repeatability and reliability are the two essential qualities that medical PCB suppliers must achieve. PCBs need to be operated without any technical errors. Therefore, they need to be protected from exposure to risky surroundings. Conformal coatings help avoid exposure to unwanted chemicals or other components. Led by the rise in technological advancements in the medical industry, demand for conformal coatings is estimated to increase rise in order to protect the PCBs from external exposures.
- Delamination and cracking in conformal coatings is expected to restrain the conformal coatings market in the near future. Delayering and cracking are related to the type of coating technology applied on the PCB. For instance, brush coatings usually do not provide uniform thickness. Chances of delamination and cracking are high in this case.
Conformal Coatings Market: Key Product Segment
- Based on product, the global conformal coatings market has been divided into acrylic, silicone, polyurethane, epoxy, parylene, and fluoropolymer
- In terms of value, acrylic is a prominent segment of the global conformal coatings market. Acrylic conformal coatings offer excellent humidity and protection from salt mist. Wide range of operating temperatures of acrylic conformal coatings makes them useful in various end-use industries.
Conformal Coatings Market: Major Operation Method Segment
- Based on operation method, the global conformal coatings market has been segregated into dip coating, spray coating, brush coating, and chemical vapor deposition (CVD)
- In terms of value, spray coating was a prominent segment of the global conformal coatings market in 2019. Spray coating is one of the highly efficient and convenient methods of applying conformal coatings onto PCBs. The spray coating method requires low viscosity; hence, solvent-based coatings need to be diluted before the coating is applied.
Conformal Coatings Market: Prominent End-use Industry Segment
- Based on end-use industry, the global conformal coatings market has been classified into consumer electronics, automotive, industrial machinery & equipment, medical, aerospace, defense, marine, and others. The consumer electronics segment is likely to expand at a rapid pace in the near future, as it is a leading consumer of conformal coatings.
Conformal Coatings Market: Major Developments
- In November 2017,Dow Corning introduced advanced silicone coating solutions for protection of printed circuit board assemblies. The DOWSIL brand, developed by both Dow Corning and Dow, is also used in LEDs. The newly introduced brand bonds quickly at low temperatures and supports quicker, low-cost production of electronic modules. It protects printed circuit boards from dust, moisture, harsh chemicals, extreme cycling, and vibrations. Through this launch, the company achieved wide recognition in the global conformal coatings market.
- In November 2017, Electrolube launched highly significant, two-part, UV-cured conformal coatings (2K850). The 2K850 system is a tough, flexible, high-performance coating, which features a wide operating temperature range (from −65°C to 130°C) with excellent thermal shock performance. The coating system is characterized by higher coating thickness, enhanced edge coverage, and improved adhesion, hardness, and scratch resistance.
- In June 2016, Chase Corporation expanded its presence by purchasing Spray Products (India) Private Limited based in Pune, India. The move has enhanced Chase Corporation’s ability to provide technical, sales, manufacturing, chemical handling, and packaging services in Asia Pacific.
- In August 2016, SRG Global, a global manufacturer of chrome-plated and painted plastic parts for automotive, commercial truck, and household appliance industries, introduced G-Coat tint-over-chrome process solution. The G-Coat process delivers distinct metallic surface finishes for exterior and interior applications, and regularly improves paint adhesion to any chrome-plated plastic part. Through this launch, the company achieved wide recognition in the global conformal coatings market.
Conformal Coatings Market: Competition Landscape
- Key manufacturers operating in the global conformal coatings market include
- Henkel AG & KGaA
- Shin Etsu Chemical Company
- Dow Corning
- H.B. Fuller Company
- DAIKIN INDUSTRIES
- Chase Corporation
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Stay Updated on the Latest Trends in Chemicals & Materials Market @ https://www.transparencymarketresearch.com/chemical-market-reports-2.html
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
