Conformal Coatings Global Market To Reach Value Of About $15 Billion In 2025
26 Jul, 2021
The conformal coatings market consists of sales of conformal coatings by entities (organizations, sole traders, and partnerships) that manufacture conformal coatings. A conformal coating is a thin polymeric layer that is distributed 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.
Global Conformal Coatings Market Size And Drivers:
The global conformal coatings market is expected to grow from $10.57 billion in 2020 to $11.04 billion in 2021 at a compound annual growth rate (CAGR) of 4.43%. The growth in the conformal coatings market is mainly due to the increasing demand of PCB from high-end applications in aerospace & defense and automotive industries. The market is expected to reach $15.08 billion in 2025 at a CAGR of 8.11%. The growing demand for the consumer electronics industry is expected to propel the growth of the conformal coatings market.
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Trends In The Global Conformal Coatings Market
The increasing technological advancements are shaping the conformal coating market. Major companies operating in the conformal coating sector are focused on developing technological solutions for conformal coating. For instance, in February 2020, The Dow Chemical Company, a chemical manufacturing company launched the DOWSIL CC-8030 UV and Moisture Dual Cure Conformal Coating at IPC APEX EXPO, the company's first solvent less silicone conformal coating with an ultraviolet (UV) and moisture dual-cure device for maximum efficiency. Through automated spraying and quick energy-efficient UV curing, the new environmentally friendly silicone technology enables sustainability, health, and safety while lowering processing costs.
Global Conformal Coatings Market Segments:
The global conformal coatings market is further segmented based on type, technology, operation method, end use and geography.
By Type: Acrylic, Silicone, Epoxy, Urethane, Parylene
By Technology: Water-Based, Solvent-Based, UV Cured
By Operation Method: Dip Coating, Brush Coating, Spray Coating, Chemical Vapor Deposition
By End-Use: Automotive, Consumer Electronics, Aerospace And Defense, Industrial, Telecommunication
By Geography: The global conformal coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the conformal coatings market in 2020.
Read More On The Report For The Global Conformal Coatings Market At:https://www.thebusinessresearchcompany.com/report/conformal-coatings-global-market-report
Conformal Coatings Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides conformal coatings market overviews, analyzes and forecasts market size and growth for the global conformal coatings market, conformal coatings market share, conformal coatings market players, conformal coatings market segments and geographies, conformal coatings market’s leading competitors’ revenues, profiles and market shares. The conformal coatings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.