- The global market for conformal coating materials, equipment and spares will grow from $10.2 billion in 2016 to nearly $14.2 billion by 2021 with a compound annual growth rate (CAGR) of 6.8% for the period of 2016-2021.
- The conformal coating equipment and spares market will grow from $7.9 billion in 2016 to nearly $11.1 billion by 2021, with a CAGR of 6.9%.
- The conformal coating materials market is expected to increase from nearly $2.3 billion in 2016 to $3.1 billion by 2021, with a CAGR of 6.2%.
Introduction & Scope
STUDY GOALS AND OBJECTIVES
This report is an update of an earlier BCC Research report published in 2014. The report studies and highlights the role of conformal coatings in providing protection to electronic products; explains the technology, development, production and methods of application of these coatings; discusses the equipment involved in the coating process; and provides a market overview that analyzes major market trends both by region and application sector. In addition, the report studies in detail new developments in the conformal coatings industry regarding continuous improvements in environmental performance. The report analyzes both the market for conformal coating products and the market for the technologies involved, including various emerging technologies and new products produced using these technologies. It also analyzes the various applications of conformal coatings and their markets, with a special emphasis on the new products being developed. Along with the development of new products, research and development (R&D) is taking coating technologies to new heights. The report examines these developments as well as the new applications emerging from these new technologies.
Customers are driving increased demand for conformal coatings and relevant coating equipment, and there are huge expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality and environmental properties. The above expectations require special attention from manufacturers to ensure that products meet expected standards and the market remains buoyant. This report pinpoints the need for industry?s commitment to continuous improvement in environmental performance and predicts a future in which the functionality of conformal coatings will be enhanced and transformed from conventional areas of protection and aesthetics to meet additional, more specific demands.
REASONS FOR DOING THE STUDY
For any company to succeed in a competitive market, product opportunities must be identified from the viewpoint of the company?s strengths. To do so, it is necessary to understand the size and growth rate of opportunities and the competitive atmosphere in which the company operates. This report is the ideal medium to understand opportunities in various types of conformal coatings and coating equipment and will help prospective manufacturers, distributors and even users to understand and achieve success in this growing field.
This report is intended to help marketing managers identify emerging market opportunities and develop targeted promotion plans for conformal coatings and the equipment involved. It will also help R&D professionals explore demand for conformal coatings and equipment, stay abreast of competitors? initiatives and develop new products and applications. The reports will assist information and research-center librarians to provide market researchers and brand and product managers with the information they need to do their jobs effectively.
SCOPE AND FORMAT
The report has been prepared in a simple and easily understood format with tables and figures. The scope of the report includes a detailed study of global and regional markets for various types of conformal coatings and coating equipment and the reasons for variations in industry growth by region.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methodologies were used when preparing this study. Primary information sources for this market research report include data from manufacturers and suppliers of conformal coatings around the world, raw-material suppliers for manufacture of these products, major users of these products, research organizations, governmental agencies, trade associations and equipment suppliers. Additional secondary research sources include databases, trade literature, specialized journals and government statistics.
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