What Has Driven the Growth of the Conformal Coatings Market in Recent Years?
The conformal coatings market has seen considerable growth due to a variety of factors.
• The market size of conformal coatings has experienced robust growth in the past few years. It is projected to grow from $14.44 billion in 2024 to $15.51 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%.
Factors contributing to this growth during the historical period can be linked to the rising demand for electric vehicles (EVs), an enhanced requirement for conformal coatings in medical equipment, and increased demand in the aerospace sector.
What is the Market Size Forecast for the Conformal Coatings Market?
The conformal coatings market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for conformal coatings is projected to witness robust growth in the forthcoming years. It is anticipated to reach $21.74 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.8%.
The expansion during the forecast period can be ascribed to governmental backing, a rise in the global populace along with urbanization, as well as heightened investments in 5g technology and telecommunications infrastructure. A pivotal trend during the forecast period will be the continued governmental support, worldwide population growth and urbanization, as well as augmented investments in 5G technology and telecommunications infrastructure.
What Are The Leading Drivers Of Growth In The Conformal Coatings Market?
The conformal coatings market is set to grow, driven by the increased demand within the consumer electronics industry. Included in this industry are electronic products such as personal computers, smartphones, and televisions. Conformal coatings play a crucial role in consumer electronics, protecting them against toxins, chemicals, and harsh external conditions found in workplaces and homes. As an example, ClearSale, a company based in the US, has forecasted that the revenue from the consumer electronics sector will surpass $450 billion by 2024. As a result, the surge in conformal coatings demand from the consumer electronics industry will likely facilitate the expansion of the conformal coatings market.
What Are The Major Segments Within The Conformal Coatings Market?
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
Subsegments:
1) By Acrylic: Water-Based Acrylics, Solvent-Based Acrylics
2) By Silicone: Room-Temperature Vulcanizing (RTV) Silicone, Thermoset Silicone
3) By Epoxy: Single-Component Epoxy, Multi-Component Epoxy
4) By Urethane: Aliphatic Urethane, Aromatic Urethane
5) By Parylene: Parylene C, Parylene N, Parylene D
6) By Other Types: Hybrid Coatings, Nano Coatings, Polyurethane Coatings
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Which Trends Are Expected To Transform The Conformal Coatings Market?
Conformal coatings industry firms are honing their market position by pioneering the creation of novel UV-curable conformal coatings. These coatings excel at safeguarding printed circuit boards (PCBs) and various other electronic components by forming a protective barrier against environmental impacts like moisture, dust, chemicals, and temperature fluctuations. For example, Dow, a chemical company based in the US, introduced the DOWSIL CC-8000 Series UV and Dual Moisture Cure Conformal Coatings in July 2024. These are solventless silicone coatings, engineered to defend electronic components in sectors such as renewable energy, e-motors, power tools, and domestic appliances. These coatings are quickly cured by UV/LED light, with a secondary cure for shadowed areas, facilitating swift production and curtailed energy expenses relative to heat-cured materials.
Who Are the Key Players in the Conformal Coatings Market?
Major companies operating in the conformal coatings market include:
• Dow Inc
• Shin-Etsu Chemical Co. Ltd
• 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.
What Is The Most Dominant Region In The Conformal Coatings Market?
Asia-Pacific was the largest region in the conformal coatings market in 2024. 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.
