Conformal Coating Market Worth USD 16 billion by 2024A Chapter by David JonesConformal Coating Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa ResearchThe global conformal coating
market is estimated to attain close to USD 16 billion by 2024. It stood at USD
9.7 billion in 2015. Industries, such as automotives and consumer electronics
can propel this market from 2016 to 2024 (forecast period).
Conformal coatings are thin
polymeric films which protect electronic components against chemicals and
various other environmental effects. But these are used primarily on printed
circuit boards (PCBs). Brush coating, spray application coating, and conformal
coating dipping are the various ways in which these coatings are used.
Selecting the right material for conformal coating can ensure the reliability
of circuit boards in the long run.
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Details of Report @ https://www.hexaresearch.com/research-report/conformal-coating-market Customization is the latest trend in the global industry. Companies these days develop 8-10 different versions of a particular coating material to meet the demands of various industries. However, fluctuating prices of raw materials may negatively influence market growth. Concerns regarding volatile organic compound (VOC) content in conformal coatings can also hamper worldwide demand. Most industry players focus on novel technologies to simplify the application procedure. They invest robustly in this area to reap long term benefits. Technologies such as ultrasonic coatings, selective coatings, and selective needle dispensing may catapult market demand over the forecast period.
The global conformal coating market is segmented on
the basis of products, end-users, and regions. Based on products, the segments
are parylene, urethane, silicone, epoxy, acrylic, and others. ‘Others’ consists
of UV cure coatings. Acrylic conformal coatings accounted for over 40% shares
in global revenues in 2015. Superior surface adhesion rate & moisture
resistance exhibited by these coatings can fuel its demand over the next eight
years. Silicone coatings are projected to display a CAGR below 6% in the
forthcoming years. This segment is propelled by demand from manufacturing &
industrial sectors.
End-users in the global conformal coating market are
industrial, marine, consumer electronics, medical, automotive &
transportation, aerospace & defense, and others. ‘Others’ includes military
and telecommunications. Consumer electronics accounted for over 40% of overall
market demand in 2015. Robust demand for computers, laptops, smartphones, and
other household electronics is expected to positively impact the industry.
The automotive & transportation segment could
expand at a CAGR above 4% during the forecast period. It uses conformal
coatings to protect circuits from salt spray, brake fluid, and gasoline vapor
in automobiles. They are also used extensively in passenger compartment systems
and under the hood systems.
On the basis of regions, the global conformal coating
market is divided into North America, South America, Europe, Asia Pacific
(APAC), and the Middle East & Africa (MEA). With a revenue share exceeding
55%, APAC led the worldwide industry in 2015. China is the most lucrative
region in APAC because of low raw material & labor costs. High disposable incomes and lifestyle changes
in APAC could boost industries, such as consumer electronics, aerospace, and
medical. Such a trend may support the global market growth in the years ahead.
Key competitors operating in the global Conformal
Coating Market are H. B. Fuller, Henkel AG & Co. KGaA, Dymax Corporation,
and Chase Corporation. As a means to reduce transportation costs, most of these
players procure raw materials directly from their local suppliers. Common
market expansion strategies adopted by companies are product innovation and
strategic business ventures. Dymax Corporation has launched a new conformal
coating for PCBs and other electronic components. The product named ‘Multi-Cure
9-20557’ has been developed to stick on difficult-to-wet components made from
silver or copper.
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environment and enable them to undertake strategic growth initiatives. © 2017 David Jones |
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Added on August 24, 2017 Last Updated on August 24, 2017 Tags: Conformal Coating Market, Conformal Coating Industry AuthorDavid Jonescalifornia, CAAboutResearch Analyst At Hexa Research Which Provides Research Content For All Types Of Domains do check my Articles more..Writing
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