LONDON, April 18, 2016 /PRNewswire/ -- "The increasing use of electronics and need for highly reliable electronic devices would drive the conformal coating market"
The conformal coating market is expected to grow from USD 1.70 billion in 2014, and it is expected to reach USD 2.41 billion by 2020, at a CAGR of 5.99% between 2015 and 2020. The increasing use of electronic components especially in automotive, and consumer electronics sector, and growing demand for highly reliable electronic devices/equipment are the major drivers for the conformal coating market.
"The market for Parylene conformal coating is expected to grow at the highest CAGR"
Parylene conformal coating in the conformal coating material market is estimated to grow at a high CAGR during the forecast period. This is because of its ability to provide excellent protection from moisture, vibration, abrasion, extreme temperature, and chemicals. Furthermore, this coating is mil-spec, and FDA approved coating; which is accelerating its growth in aerospace & defense and medical electronics sector.
"The market in APAC is expected to grow at the highest rate"
The market in APAC is expected to grow at a high CAGR between 2015 and 2020. The rapid growth of the automotive industry in this region, in addition to the growth of consumer electronics, and aerospace & defense sectors has contributed to the growth of the conformal coating material in the APAC region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people.
Break-up of profile of primary participants is given below as:
- By Company Type: Tier 1 – 22 %, Tier 2 – 35% and Tier 3 – 43%
- By Designation: C level – 29%, Director level – 37%, Others – 34%
- By Region: North America – 39%, Europe – 31%, APAC – 21%, RoW – 9%
Key players in the market include Chase Corporation (U.S.), MG Chemicals Ltd. (Canada), DOW Corning Corporation (U.S.), Chemtronics (U.S.), Dymax Corporation (U.S.), Electrolube (U.K.), Nordson Corporation (U.S.), Precision Valve & Automation, Inc. (U.S.), Shin-Etsu Chemical Co. Ltd. (Japan), Henkel AG & Co. KGaA (Germany), and Peters Group (Germany) among others.
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the conformal coating market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitor and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, mergers and acquisitions.
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