$1.26 Billion Worldwide Conformal Coating Industry to 2025 - Featuring H.B. Fuller, Chase & Electrolube Among Others
DUBLIN, July 1, 2020 /PRNewswire/ -- The "Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane, and Parylene), End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global market size for conformal coatings was USD 929 million in 2019 and is projected to reach USD 1.26 billion by 2025, at a CAGR of 5.3% between 2020 and 2025.
The global conformal coatings market is projected to witness a CAGR of 5.3% during the forecast period.
The high growth is attributed to the increase in the number of PCB manufacturers in countries such as China and Taiwan, and another factor is the growing demand from the high-end applications which require conformal coatings. These coatings are used in various industries such as consumer electronics, automotive, aerospace & defense, industrial, and telecommunication.
Telecommunication is the fastest-growing end-use in the conformal coatings market.
The introduction of 5G has brought the need for the development of communication infrastructure. The commercial use of 5G worldwide is expected to bring endless opportunities for upstream and downstream industries. PCB majorly has four areas of application during the construction of a communication network, namely wireless network, transmission network, data communication, and fixed-line broadband. Similarly, for the construction of 5G infrastructure, various types of PCBs are required such as PCB backplanes, high-frequency PCB and high-speed multilayer PCBs. In addition to this, the establishment of large 5G macro base stations will also boost the demand for PCB as it is an indispensable electronic material used in the construction of the base station.
Acrylic conformal coating is the largest type for conformal coating.
Acrylic conformal coatings are transparent insulating and quick-drying acrylic-based coatings. These are easy to apply and do not require special equipment for application. Acrylic coatings account for a large share of the conformal coatings market, with wide applications in electronics. These coatings protect electric circuits from moisture, dirt, dust, thermal shocks, and scratches that could corrode, short circuit, or otherwise damage the electronic component. They also provide insulation against high-voltage and static discharges. Acrylic-based conformal coatings are a fast cure, free from solvents, and easily reparable. It is considered essential level protection because they are economical and provide protection against a broad level of contamination.
APAC is expected to be the fastest-growing market for conformal coating during the forecast period.
APAC is expected to be the fastest-growing market during the forecast period. Due to the presence of a huge volume of PCB manufacturers in the region, the demand for conformal coating is expected to grow. Apart from that India is projected to have a rapidly growing consumer electronics market in the coming years due to the rising middle class and increasing disposable income. Thus these scenario is expected to drive the market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the Conformal Coatings Market
4.2 APAC Conformal Coatings Market, By End-Use Industry and Country
4.3 Conformal Coatings Market, By Countries
4.4 Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Base of PCB Manufacturing
5.2.1.2 Increasing Demand From High-End Applications
5.2.1.3 Large Scale Demand From the Automotive Industry
5.2.2 Restraints
5.2.2.1 Expensive Replacement and Repair of Conformal Coatings in Case of Damage
5.2.2.2 Miniaturization of Pcbs
5.2.3 Opportunities
5.2.3.1 Rising Adoption By the Telecommunication Industry
5.2.3.2 Usage in Substrate-Like PCB (SLP)
5.2.3.3 Technological Advancements in End-Use Industries
5.2.4 Challenges
5.2.4.1 Price Pressure on Conformal Coating Manufacturers
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Conformal Coating Standards
5.5 YC, YCC Drivers
6 Conformal Coatings Market, By Type
6.1 Introduction
6.1.1 Silicone
6.1.1.1 Emerging Trends in the End-Use Industries are Expected to Drive the Demand
6.1.2 Acrylic
6.1.2.1 Low Cost of Acrylic Conformal Coating to Drive the Market
6.1.3 Epoxy
6.1.3.1 Difficulty in Reworkabilty Hampering Its Growth
6.1.4 Urethane
6.1.4.1 APAC to Be the Largest Consumer of Urethane
6.1.5 Parylene
6.1.5.1 Demand From Aerospace & Defense and Medical Industry to Drive the Market
6.1.6 Others
7 Conformal Coatings Market, By End-Use Industry
7.1 Introduction
7.1.1 Automotive
7.1.1.1 Next-Gen Automotive Industry Landscape Will Drive the Market
7.1.2 Consumer Electronics
7.1.2.1 Rising Disposable Income and the Development of Smart Devices Drive the Market
7.1.3 Aerospace & Defense
7.1.3.1 Integration of New Technologies Will Spur the Demand
7.1.4 Industrial
7.1.4.1 Implementation of Industry 4.0 to Boost the Market
7.1.5 Telecommunication
7.1.5.1 Upcoming 5G Technology Will Drive the Market During the Forecast Period
7.1.6 Others
8 Conformal Coatings Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Demand for Complex PCB From Aerospace & Defense to Drive the Market
8.2.2 Canada
8.2.2.1 Parylene to Be the Fastest-Growing Conformal Coating
8.2.3 Mexico
8.2.3.1 PCB Demand From Automobile Manufactures to Drive the Demand
8.3 APAC
8.3.1 China
8.3.1.1 Growing PCB Production to Drive the Market
8.3.2 Taiwan
8.3.2.1 Growing Investment in the Country to Drive the Market.
8.3.3 Japan
8.3.3.1 Global Economic & Trade Tensions are Likely to Affect the Market
8.3.4 South Korea
8.3.4.1 Growing Demand From Major Electronics Companies Will Drive the Consumption of Coatings
8.3.5 Vietnam
8.3.5.1 Increasing Fdi is Expected to Drive the Market
8.3.6 India
8.3.6.1 Increasingly Favorable Government Policies to Boost the Market During the Forecast Period
8.3.7 Thailand
8.3.7.1 Growing Demand for Data Storage Devices to Spur the Market
8.3.8 Rest of APAC
8.4 Europe
8.4.1 Germany
8.4.1.1 PCB Demand From EV Manufacturers to Drive the Market
8.4.2 France
8.4.2.1 Government Policies are Expected to Boost the Market
8.4.3 Russia
8.4.3.1 Conformal Coatings are Expected to have Slower Growth in the Country
8.4.4 UK
8.4.4.1 Growth of the Market is Expected to Be Slow Due Uncertainty of Brexit
8.4.5 Rest of Europe
8.5 RoW
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Investment & Expansion
9.2.2 Merger & Acquisition
9.2.3 New Product Launch
9.3 Market Share Analysis
10 Company Profiles
10.1 Henkel AG
10.2 Illinois Tool Works
10.3 Shin-Etsu Chemical Co. LTD.
10.4 DOW
10.5 H.B. Fuller
10.6 Chase Corporation
10.7 Electrolube
10.8 Dymax Corporation
10.9 MG Chemicals
10.10 Specialty Coating Systems
10.11 Others
10.11.1 Altana AG
10.11.2 CHT UK Bridgwater
10.11.3 CSL Silicones Inc
10.11.4 Europlasma NV
10.11.5 Peters Group
10.11.6 Conins Pune
10.11.7 Industrialex Manufacturing
10.11.8 AI Technologies Inc
10.11.9 Master Bond Inc
10.11.10 John C Dolph
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