Conformal Coating Market worth $1,081 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 19, 2021 /PRNewswire/ -- According to the new market research report "Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane, and Parylene), End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Conformal Coatings Market is estimated to be USD 807 million in 2020 and is expected to reach USD 1,081 million by 2025 at CAGR of 6.0%. The growth of the conformal coatings market is attributed to the increasing number PCB manufacturers and demand from high end applications that require conformal coatings.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=216347388
Browse in-depth TOC on "Conformal Coating Market"
103 – Tables
32 – Figures
144 – Pages
View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/pcb-coatings-market-216347388.html
Automotive is the largest end-use segment in the overall conformal coatings market.
The automotive industry has grown at a fast pace in the last decade, which led to the rapid evolution and increased consumption of electronics used in the vehicles. Currently, an average mid-range vehicle is loaded with technological features such as lane sensors, adaptive cruise control, in-car entertainment, and navigation. Also, the emergence of electric vehicle (EV), connected cars, and autonomous vehicles have resulted in a rapid surge in the advancement of electronics installed in these vehicles. From the industry point of view, the challenge is to protect these huge volumes PCBs and ICs used in the electronics system over a long period while meeting the specifications required by the automotive industry. This creates an attractive opportunity for conformal coatings manufacturers in the automotive and transportation industry. It is also the go-to-market for PCB manufacturers.
Parylene conformal coating is the fastest-growing type for conformal coating.
Parylene conformal coating is a unique type of coating as it is created at room temperature and is applied by vapour phase deposition. Parylene is widely used in the aerospace & defense industry, and to some extent, in the medical industry as well. Parylene is biocompatible, non-toxic, extremely thin, and pinhole-free. It offers protection against solvents and organic and inorganic fluids. One of the major factors, which reinforces its use in the medical industry, is that it can withstand various sterilization processes such as E-beam, gamma, and autoclave. Owing to these reasons, parylene is used in the high-performance application despite being the costliest.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=216347388
APAC is expected to be the largest market for conformal coating during the forecast period.
APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.
The key companies in the conformal coatings are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemical (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemical (Canada) and Specialty Coating System (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=216347388
Browse Adjacent Markets: Chemical Market Research Reports & Consulting
Related Reports:
1. Electronic Chemicals and Materials Market by Type (Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates), Application, and Region - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/electronic-chemicals-market-107930161.html
2. Encapsulants Market by Chemistry (Epoxy, Silicone, Urethane), Curing Type (Room Temperature, Heat Temperature, UV), End-Use Industry (Consumer Electronics, Transportation, Medical, Energy & Power), and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/encapsulant-market-200732903.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/pcb-coatings-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/pcb-coatings.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article