Conformal Coatings Market Size & Forecast Report, 2013 - 2024

The global conformal coatings market size is expected to value at USD 15.73 Billion by 2024, during the forecast period. The market is subject to witness substantial growth due to the rising demand for end-user products from customer-oriented electronics market segment. The conformal coating is implemented in electronic industries to safeguard printed circuit boards and panels from external environmental factors such as dust, moisture, heat, varying temperatures, environmental noise, and other forms of environmental factors. Growing competition in the conformal coating industry with the substantial presence of medium-sized manufacturers, large-scale production houses, and suppliers are positively impacting the industry. Globally, the conformal coatings market is predicted to grow at a CAGR of 5.6% in the forecast period, providing numerous opportunities for market players to invest in the research and development of the market.

The growth of the electronic and electrical sector mainly in the developing economies across the globe is about the progress of the market. Conformal coatings offer numerous advantages in comparison with their counterparts such as assurance on better corrosion and dielectric resistance. Such advantages are playing a key role in the rising demand of the conformal coating market in the electronic industry. The most common form of materials used for conformal coating is acrylic coating. The acrylic coating market segment is predicted to hold a major share of the material-based segment of the market in upcoming years.

Acrylic conformal coatings are simple to apply and rework in case of emergency. They are fairly low priced compared to other types of conformal coating with high abrasion and dielectric coefficients. The acrylic coating also protects from moisture and chemicals, requires less time for applying a coating to the electronic circuitry. Such factors are driving the application-specific conformal coatings market across a range of industry segments. Application of the conformal coating has extended to the automotive industry as well due to its vast set of benefits that puts it apart from other types of coatings.

Material used in the conformal coating commonly involves a thin polymeric film that are designed to encapsulate the printed circuit board to safeguard the electronic components placed onto the board from external factors. The thin polymeric films are majorly varied in thickness from twenty-five micrometers to two hundred micrometers. They act as a safeguard mechanism to resist accumulation of water, dust, chemicals, and temperature changes.

The electronic circuitry is subjected to harsh environments during their regular use, so it becomes critical to protect from adverse atmospheric mechanical and chemical reactions, uncoated electronic circuits can not withstand such hazardous conditions, and are bound to fail over some time. The use of conformal coating allows consistent performance levels from the electronic circuitry. A transparent layer of conformal coating is applied to the coat assemblies that are lightweight and allow easier inspection of the electronic circuitry. The conformal coating is classified into four distinct classes such as acrylic, urethane, silicone, and varnishes.

The market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. Asia-Pacific region is predicted to hold a major market share in the conformal coatings market with massive growth in the forecast period. Countries such as Taiwan, China, Japan, and South Korea are leading the Asia-Pacific market with rising investments in the electronics and automotive fields. Also, rapid industrialization in the automotive and consumer electronics production segment in India is likely to assist the reach of the conformal coating industry in the region. North America has shown major growth in recent years owing to the increasing need for high-tech electronic devices such as global position systems (GPS) and various products across the automotive sector.

The leading players in the conformal coatings market are Henkel Company, Chemtronics Incorporations, and Shin-Etsu Chemical Corporations. The raw materials required for the production of conformal coatings are procured from well-established market players in the chemicals segment such as BASF SE, and Aditya Birla Chemicals.

Market Segment:

Conformal Coatings Product Outlook (Revenue, USD Million; 2013 - 2024)
    • Acrylic
    • Epoxy
    • Urethane
    • Silicone
    • Paralyene

Conformal Coatings Application Outlook (Revenue, USD Million; 2013 - 2024)
    • Consumer Electronics
    • Automotive
    • Medical
    • Aerospace & Defense
    • Others

Conformal Coatings Regional Outlook (Revenue, USD Million; 2013 - 2024)
    • North America
        • the U.S.
    • Europe
        • Germany
        • the UK
    • the Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
    • The Middle East & Africa