At 6.2% CAGR, Conformal Coatings Market is Expected to Reach 1257.6 Mn by 2028 Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

20 Jan, 2022, 11:30 GMT

LONDON, Jan. 20, 2022 /PRNewswire/ -- According to Brandessence Market Research, the Conformal Coatings Market size reached USD 825.4 Million in 2021. Conformal Coatings Market size is likely to grow at 6.2% CAGR during 2021-2028 to reach 1257.6 Million by 2028 end. Rising usage of electronic products in arduous locations, growing digitalization of medical procedures, and increasing cost of electronics are some of the major factors driving the growth.

Conformal coating is a polymerized film that completely 'conforms' the printed circuit board assembly i.e. it is a coating that coats the printed circuit board and its electrical components without changing the shape and size of the Printed circuit board assembly. Printed Circuit boards (PCB) are setups used to mechanically bear the weight of electronic components of an electrical circuit while providing an electronic connection between them without the need for wires. The board structure without any electrical components is called a printed circuit board and when electric components are present on the board the entire setup is called PCB Assembly. Conformal Coating is a salient feature in printed circuit boards as conformal coating protects the printed circuit board from external damages. The conformal coating increases the lifetime of PCBs by making the PCB more robust. Applications of conformal coating are vastly varied. Some of the main applications of conformal coating include; aerospace, defense, automobile, robotics, and medical fields. The process of conformal coating is practiced since the 1980s.

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Scope of Conformal Coatings Market

The Covid-19 pandemic has more or less been a bane for the conformal coating market. The major end-users of printed circuit boards and subsequently conformal coating market are the automobiles and robotics industries. For instance; on average around 200 printed circuit boards are present in a car. Hence decline in automobile needs cause a negative impact on the conformal coating market. In spite of this, the silver lining for the conformal coating market is the increased demand for medical instruments, which use printed circuit boards in huge quantities which in turn gives a positive boost to the conformal coating market.

Segmentation Analysis: The Global Conformal Coating Market is segmented on the basis of material type, end-user, and region & country level. Based on material type, the conformal coating market is divided into Epoxy, Urethane, Silicone, Perylene, etc. Based on end-users the conformal coating market can be differentiated by electronics, automotive, medical, aerospace, and defense industries.

Conformal Coatings Companies

Market Players for Global Conformal Coatings Market are Covering in this Report:

  • Altana
  • Chase Corp.
  • CHT Ltd
  • Dow
  • Dymax
  • HK Wentworth Ltd
  • B. Fuller Company
  • Henkel AG & Co.
  • KGaA
  • Kisco Ltd.
  • MG Chemicals
  • Panacol-Elosol
  • GmbH
  • Shin-Etsu Chemical Co. Ltd
  • Momentive
  • And More

Global Conformal Coatings Market Dynamics:

The main factor which has caused uproar in the conformal coating market is the application of electronic products in grave environmental conditions. Electronic devices are had applications in every business including businesses like agriculture, mining automobiles, space commodities some of which have environments that can cause huge harm to electronic devices. For instance; 97% of mining procedures are carried out with the help of electronic devices. Also, according to www.bayt.com, all the measuring devices used by marine engineers are electronic sensors.

The above-mentioned environments can be very detrimental to the printed circuit boards present on the electrical devices as, Copper tracts used to connect the electrical entities so that these perform the functionality required by the electrical circuit, can get corroded when it comes in contact with moisture, salts. This corrosion will create obstruction in the electricity flow of the circuit and the PCB will stop working. Additionally, the robust nature of some applications like automobiles, space, and defense industries will cause harm to the electronic components present on the board. The conformal coating works like armor to the printed circuit boards and makes sure that the printed circuit boards won't get damaged in any habitat.

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Additionally, increasing research activities in the electronic industry is a major factor for the growth of electronic usage in medical establishments. Medical processes carried out by electrical entities are far more accurately done as compared to medical procedures carried out by humans. For instance; since 2017 there has been a 40% increase in the electrical medical technologies market. Also, medical technology revenue has increased 20% in 2021 compared to the year 2020. Advancement in nanotechnologies has been a viable asset to the medical industry as nanotechnologies can target remote locations in the human body and communicate with peripheral devices for communication purposes. The introduction of digital image processing also benefits medical establishments as it leads to an automatic understanding of human health. Therefore as the electronic industry, which use printed circuit boards gain a lot due to this medical revolution lead to the conformal coatings market growth as the conformal coating market is a subset of the electronics market.

However, the high expenditure required for repair and replacement of conformal coating with the reduction in the size of a printed circuit board may hamper the market growth. As the board size decreases less amount of conformal coating is required which reduces the demand for conformal coating. This causes depletion of the conformal coating market revenue. In spite of this colossal range of applications of PCBs can be considered as a lucrative factor that keeps the conformal coating market thriving in the coming years.

News: Dow Launched New DOWSIL CC-2588 Conformal Coating for Harsh Environments, Greater Sustainability.

On October 4th, 2021; Dow introduced new DOWSIL CC-2588 Conformal Coating, a tough, abrasion-resistant silicone-based material that protects printed circuit boards (PCBs) and electronic components against high humidity and corrosion. This highly reliable silicone-based coating is virtually odorless and offers extremely low volatile organic compounds (VOCs). DOWSIL CC-2588 conformal coating cures at room temperature for reduced energy consumption supports spraying for higher throughputs and enables automated inspection equipment to use ultraviolet light (UV) to identify any voids in the conformal coating.

Global Conformal Coatings Market Regional Analysis:

Geographically, North America is expected to witness significant growth in the global conformal coating market attributed to the presence of research establishments in the United States of America. The United States and Canada have some of the electronic best research institutions in the World like Stanford University. This can be validated by a study conducted by clinicaltrial.com which states that research on around 300 thousand subjects is carried out in 2020 in the United States of America. All research areas require electronic circuits to meet the proposed requirements of research. Also, North America is home to a lot of automobiles, defense, aeronautic industries and they have an omnipresent requirement of electronics and in turn, printed circuit boards and conformal coating industries. This justifies the presence of printed circuit boards and hence conformal coating industries in the North American region.

Asia-Pacific is expected to show the fastest growth in the global conformal coatings market within the forecast period owing to the high demand for applications from countries especially China, India, and Japan.

On Special Requirement Conformal Coatings Market Report is also available for below Regions and Countries specific :

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of Latin America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

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