The latest research study “Conformal Coatings Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global conformal coatings market size reached a value of US$ 11.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 16.92 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
Industry Overview and Application:
Printed circuit boards (PCBs) and their components are safeguarded from corrosive substances and severe conditions by conformal coatings, which are protective polymer films. To protect against corrosion, mould growth, and electrical failures, it is placed as a thin layer to the surface of PCBs to cover solder connections, the leads of electronic components, exposed traces, and other metallized surfaces. Conformal coating is frequently used in televisions, video recorders, cameras, cellphones, gaming consoles, computers, laptops, printers, and wearable technology because it increases the lifespan of PCB.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Conformal Coatings Market Trends and Drivers:
The market is primarily driven by the rising utilization of conformal coatings in the aerospace industry to protect space shuttle, aircraft communication, passive detection, and satellite systems from adverse conditions. In addition, the expanding application of PCBs in the automotive sector represents another major growth-inducing factor.
Besides this, the leading market players are making huge investments in research and development (R&D) activities to develop cost-effective and ultra-thin coatings required in nanotechnologies. This, coupled with the rising product adoption in the healthcare industry to protect various medical devices and equipment from thermal shocks and short circuits, is creating a positive market outlook across the globe.
Furthermore, the increasing employment of PCBs in 5G networks to prevent lost signals and delayed transmissions is expected to propel market growth in the coming years.
| Conformal Coatings Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 11.72 Billion |
| Market forecast in 2027 | US$ 16.92 Billion |
| Growth Rate | CAGR of 6.10% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
Global Conformal Coatings Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Altana AG, Chase Corporation, CHT Germany GmbH, Dow Inc., Dymax Corporation, Electrolube (HK Wentworth Group), Europlasma NV, H.B. Fuller Company, Henkel AG & Co. KGaA, MG Chemicals, Panacol-Elosol GmbH (Dr. Hönle AG) and Shin-Etsu Chemical Co. Ltd.
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The report has segmented the market on the basis of region, type, technologies, operation method and end use.
Breakup by Type:
• Acrylic
• Silicone
• Epoxy
• Urethane
• Parylene
• Others
Breakup by Technologies:
• Solvent-based
• UV-cured
• Water-based
Breakup by Operation Method:
• Dip Coating
• Spray Coating
• Brush Coating
• Chemical Vapor Deposition (CVD)
Breakup by End Use:
• Consumer Electronics
• Automotive
• Medical
• Aerospace and Defense
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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