Conformal Coatings Market Players Likely to Gain Prominent Demand Opportunities from Electronic Product Manufacturers: TMR

ALBANY, N.Y., Nov. 3, 2020 /PRNewswire/ -- Conformal coatings are gaining worldwide traction across numerous end-use industries. One of the key reasons attributed to this scenario is numerous advantages of conformal coatings.Silicone, acrylic, epoxy, polyurethane, fluoropolymer, and parylene are some of the popular products available in the global conformal coatings market.

Analysts at TMR highlight that the global conformal coatings market is foreseen to show steady growth during the forecast period of 2020 to 2030. This growth is attributed to introduction of advanced electronic assemblies andshifting consumer demands. This aside, the market for conformal coatings is projected to gain the advantage ofincreased demand from numerous end-use industries including automotive, consumer electronics, and aerospace.  

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Key Findings of Conformal Coatings Market Report

• The conformal coatings market is projected to grow at a ~5% CAGR during the assessment period of 2020 to 2030.
• The market is foreseen to gain the valuation of over US$ 17 Bn by 2030 end.
• Of various end-use industries, aerospace segment is estimated to generate lucrative avenues in the global conformal coatings market in the forthcoming years.
• Consumer electronics is another end-use industry segment that is predicted to show stupendous expansion opportunities in this market.
• Based on product, acrylic segment accounted for lion's share in the market for conformal coatings during 2019.
• On the basis of value, spray coating was a key segment that offered promising growth opportunities for the global conformal coatings market in 2019.
• Asia Pacific was dominant region in the market for conformal coatings in 2019.

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Conformal Coatings Market: Key Driving Factors and Promising Avenues

• Conformal coatings find application in a wide range of end-use industries, such as automotive, electronics, defense, marine, and aerospace. The global conformal coatings market is projected to gather promising expansion opportunities on the back of rapid advancements in electronics field.
• In recent period, major companies operating in the conformal coatings market are experiencing increased environmental-related concerns and growing regulatory pressure.As a result, they are aiming at development of environment-friendly products. To achieve this aim, companies are increasing investment in research and development activities. This factor is foreseen to boost the expansion of the global conformal coatings market in the years ahead.

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• Electronic devices and components available today are needed to sustain in various critical operating conditions such as humidity, thermal shocks, and high temperatures. As a result, manufacturers in these sectors are increasing use of conformal coatings.
• Increased demand for lightweight and durable electronics productsfrom all across the globeis estimated to drive demand opportunities in the conformal coatings market in the years ahead.

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Conformal Coatings Market: Competitive Assessment

• The global conformal coatings market experiences presence of many active players. Major players operating in the market for conformal coatings are focused on the product development activities.
• Several enterprises are growing concentration on strengthening their product portfolio. In addition to this, they are entering into various strategic agreements including mergers and acquisitions. All these activities are projected to help in the rapid expansion of the global conformal coatings market in the forthcoming years.
• The list of important companies working in the conformal coatings market includes Shin Etsu Chemical Company, Henkel AG & KGaA, H.B. Fuller Company, Dow Corning, Chase Corporation, and Daikin Industries.

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The conformal coatings market can be segmented as follows:

Product

• Acrylic
• Silicone
• Polyurethane
• Epoxy
• Parylene
• Fluoropolymer

Operation Method

• Dip Coating
• Spray Coating
• Brush Coating
• Chemical Vapor Deposition (CVD)

Technology

• Solvent-based
• Water-based
• UV Cured

End-use Industry

• Consumer
• Electronics
• Automotive
• Industrial Machinery & Equipment
• Medical
• Aerospace
• Defense
• Marine
• Others (Including  Nanotechnology)

Region

North America

• The U.S.
• Canada

Europe

• Germany
• France
• Italy
• The U.K.
• Russia & CIS
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Thailand
• Vietnam
• Singapore
• Philippines
• Malaysia
• Indonesia
• Cambodia
• Myanmar
• Laos
• Brunei
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• Rest of Middle East & Africa

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Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

Industrial Floor Coatings Market - The industrial floor coatings market is expanding significantly owing to the increase in demand for these coatings in the food processing industry. Additionally, rapid growth in urbanization and increase in government initiatives to provide improved manufacturing facilities in emerging economies are boosting the industrial floor coating market. Rise in demand for chemical resistant and tensile strength flooring is propelling the global industrial floor coating market. However, high cost of raw materials and implementation of stringent government regulations on usage of these coatings in the food industry are hampering the global industrial floor coating market. Nevertheless, rise in infrastructure and commercial construction is creating opportunities for the global industrial floor coating market.

Glass Coatings Market - Expansion in end-use industries such as automotive, aviation, and building & construction across the globe is a major factor driving the global glass coatings market. Rise in urbanization, increase in industrialization, and growth in construction index in developing economies such as China, India, and Mexico are some of the others factors boosting the market. However, increase in prices of raw materials and implementation of stringent regulations on harsh chemicals used in glass coatings are estimated to hamper the global glass coatings market during the forecast period. Rise in research activities in the field of innovative bio-based raw materials for glass coatings is anticipated to provide lucrative opportunities to manufacturers of glass coatings.

Cristobalite Market - The global cristobalite market was valued at US$ 30.52 Mn in 2019. It is anticipated to expand at a CAGR of ~6% during the forecast period. The global cristobalite market is driven by increase in the demand for cristobalite in the artificial marble industry across the globe. Asia Pacific accounts for a major share of the global cristobalite market, led by high demand for cristobalite among manufacturers of paints and coatings in the region. Cristobalite is primarily utilized in construction-related activities. Other uses include manufacture of glass and ceramics. Cristobalite is employed in the manufacture of water glass (sodium silicate), which is used in the formulation of cement, passive fire protection, textile and lumber processing, manufacture of refractory ceramics, adhesive, and production of silica gel. In ceramics, cristobalite is employed in the manufacture of sanitary ware and as raw material for ceramic body for tiles.

Bonded Magnet Market - The availability of strong substitutes is estimated to restrain the global bonded magnet market during the forecast period. The magnetic property in bonded magnets is comparatively lower compared to their sintered counterparts, owing to the presence of binders. This affects the performance of bonded magnets. The bonded Nd-Fe-B magnet is formed by injection molding; therefore, it contains adhesives. The density of adhesives is generally 80% of the theoretical density. Sintered Nd-Fe-B magnets are heated at high temperatures through complex processes. Therefore, the magnetism of bonded Nd-Fe-B magnets decreases by about 30% compared to that of sintered Nd-Fe-B magnets.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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