Global Conformal Coatings Market Size 2024, Forecast To 2033
11 Mar, 2024
The conformal coatings market has shown strong growth, increasing from $13.49 billion in 2023 to $14.53 billion in 2024, with a compound annual growth rate (CAGR) of 7.7%. This growth is driven by the growing demand for electric vehicles (EVs), rising demand for conformal coatings in medical equipment, and the aerospace industry. Looking ahead, the market is expected to witness robust growth, reaching $19.75 billion in 2028 at a CAGR of 8.0%. This growth is attributed to government support, global population growth, urbanization, and increased investments in 5G technology and telecom infrastructure. Major trends include government support, global population growth, urbanization, and increased investments in 5G technology and telecom infrastructure.
Global Conformal Coatings Market Key Driver
The burgeoning demand in the consumer electronics industry is expected to fuel the growth of the conformal coatings market. Conformal coatings play a crucial role in protecting electronic products, such as smartphones, TVs, and personal computers, from chemicals, hazardous conditions, and toxins in various environments. With the consumer electronics sector's projected revenue surpassing $450 billion by 2024, as reported by ClearSale, a US-based company, the increased demand for conformal coatings from this industry is set to drive the overall growth of the conformal coatings market, with projected market sizes of 2023: [Insert 2023 market size], 2024: [Insert 2024 market size], and 2028: [Insert 2028 market size].
Get A Free Sample Of The Global Conformal Coatings Market ReportGlobal Conformal Coatings Market Segments
The conformal coatings market covered in this report is segmented –
1) By Type: Acrylic, Silicone, Epoxy, Urethane, Parylene, Other Types
2) By Technology: Water-Based, Solvent-Based, UV-Cured
3) By Operation Method: Dip Coating, Brush Coating, Spray Coating, Chemical Vapor Deposition
4) By End User: Automotive, Consumer Electronics, Aerospace and Defence, Industrial, Other End Users
By Geography:The regions covered in the conformal coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the conformal coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the conformal coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Conformal Coatings Industry Players
Dow Inc, Shin-Etsu Chemical Co. Ltd, Henkel AG & Co. KGaA, H.B. Fuller Company and ITW, Altana, Kisco Ltd, Chase Corp, Element Solutions Inc, Dymax, Hitachi Chemical Co. Ltd, Techspray, Electrolube, HumiSeal, Guangdong Sinpo New Materials Technology Co. Ltd, Shenzen Anlihui Electronic Technology Co. Ltd, Shenzhen Jitian Chemical Co. Ltd, Aalpha Conformal Coatings, ACC Silicones Ltd, pva tepla ag, Henkel AG and Co. KGaA, MG Chemicals Europe, Biesterfeld AG, Peters Corporation, ATE Electronics, CoolIT, Silent-Aire, AAON Inc, BasX, Corsair, NZXT, Swiftech, EVGA, Alphacool, Cytec Industries, VSi Parylene, Creative Materials, Axalta Coating Systems Brazil Ltda, Brazilian Color Industry Paints and Coatings, Componel, Lauquen Circuitos Impresos Ltda, Saudi Conduit Coating Company, Michmas Electronics Ltd, Jotun UAE Ltd L.L.C, Henkel Polybit Industries Limited, Anchor Allied Factory- LLC, Panol Industries Rmc Fze, Al Gurg Fosroc Co., Testerion, Test and Rework Solutions (Pty) Ltd, Zetech Surface Mount Technology, Bosco Printed Circuits, Summit Interconnect, WH Circuit Pty Ltd.
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Conformal Coatings Market Overview
A conformal coating is a thin polymeric layer that is applied to a printed circuit board (PCB) to secure it and its components from corrosion and the environment. These coatings conform to the irregular landscape of the printed circuit board and offer increased operational integrity, dielectric resistance, and reliability.
Conformal Coatings Global Market Report 2023 provides data on the global conformal coatings market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The conformal coatings market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.