Electronic Protection Device Coatings Market Projected to Reach $1.9 Billion, Globally, By 2032 at 5.6% CAGR: Allied Market Research

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Jun 14, 2023, 05:05 ET

An increasing integration of electronics in the automobile industry is anticipated to drive the growth of the global electronic protection device coatings market during the forecast period from 2023 to 2032. The Asia-Pacific region is projected to grow at a tremendous CAGR by 2032.

PORTLAND, Ore. , June 14, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Electronic Protection Device Coatings Market By Chemistry (Parylene, Urethene, Acrylic, Silicone, and Epoxy), and Application (Aerospace and Defence, Automotive, Power and Renewable Energy, Consumer Electronics, Industrial, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global electronic protection device coatings market generated $1.1 billion in 2022, and is anticipated to generate $1.9 billion by 2032, witnessing a CAGR of 5.6% from 2023 to 2032.

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Prime Determinants of Growth

Over the years, there has been an increase in the integration of electronics in the automobile industry. As a result, there is an increase in demand for electronic protection device coatings which is predicted to be one of the important factors driving the growth of the global electronic protection device coatings market in the forecast timeframe. However, the high cost of electronic protection device coatings market may hamper the electronic protection device coatings market growth in the coming period. On the contrary, increasing demand for electronic products from the consumer electronics industry is expected to offer remunerative opportunities for expansion of the electronic protection device coatings market in the 2023-2032 forecast period.

Report Coverage and Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$1.1 billion
Market Size in 2032	$1.9 billion
CAGR	5.6 %
No. of Pages in Report	280
Segments covered	Chemistry, Application, and Region
Drivers	Increasing integration of electronic devices in the automobile industry The growing demand for advanced driver-assistance systems (ADAS), infotainment systems, powertrain control modules in vehicles
Opportunities	The growing demand for electronic products in the consumer electronics industry The rising trend to use electronic protection device coatings for protecting electronic circuits from moisture, dust, chemicals, abrasion, and other outside influences
Restraints	High cost of electronic protection device coatings

COVID-19 Scenario:

The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global electronic protection device coatings market. The lockdowns and travel restrictions hampered the global supply chains of consumer electronics industry which brought down the demand for electronic protection device coatings.
Also, the lockdowns and travel restrictions affected the automobile manufacturing industry which affected the integration of electronic devices in different vehicles and reduced the growth rate of the market.
The electronic protection device coatings market is, however, projected to show steady growth in the future due to increasing demand for electronic protection device coatings to protect electronic devices from moisture, dust, chemicals, abrasion, and other outside influences and increase their efficiency and output.

Chemistry: Acrylic Sub-segment Projected to be Highly Dominant During the Forecast Period

The acrylic sub-segment accounted for the highest electronic protection device coatings market share in 2022 and is expected to grow at a CAGR of 5.9% during the forecast period. In the last few years, there has been an overall increase in the demand for water-based acrylic coatings and low volatile organic compound (VOC) formulations due to their reduced environmental impact. This growth in demand and usage of acrylic coatings is predicted to boost the sub-segment's growth by 2032.

Application: Automotive Sub-segment to be Flourish Immensely by 2032

The automotive sub-segment generated the highest market share in 2022 and is predicted to grow at a CAGR of 6.4% by 2032. There has been an increasing integration of advanced electronic products by almost all automotive companies in their respective vehicles which is predicted to boost the sub-segment's growth by 2032.

Region: Asia-Pacific Market to be One of the Fastest Growing by 2032

The Asia-Pacific region accounted for the highest share in the global electronic protection device coatings market in 2022 and is expected to rise at the highest CAGR of 5.9% during the forecast period. The increasing demand for consumer electronics and the growing expanse of the automobile industry are expected to be the two main growth drivers of the market in Asia-Pacific region by 2032.

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Leading Players in the Electronic Protection Device Coatings Market:

Electrolube
Electronic Coating Technologies
P2i Ltd.
Aculon
Specialty Coating Systems Inc.
ENDURA
3M
MATERIAL SCIENCES CORPORATION
ABB
Henkel Corporation

The report provides a detailed analysis of the key players of the global electronic protection device coatings market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

This report provides a quantitative analysis of the electronic protection device coatings market segments, current trends, estimations, and dynamics of the electronic protection device coatings market analysis from 2022 to 2032 to identify the prevailing electronic protection device coatings market opportunity.
Electronic protection device coatings market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electronic protection device coatings market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global electronic protection device coatings market.
Electronic protection device coatings Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electronic protection device coatings market trends, key players, market segments, application areas, and market growth strategies.

Electronic Protection Device Coatings Market Key Segments:

By Chemistry:

Parylene
Urethene
Acrylic
Silicone
Epoxy

By Application:

Aerospace and Defence
Automotive
Power and Renewable Energy
Consumer Electronics
Industrial
Medical
Others

By Region:

North America (U.S., Canada, and Mexico)
Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)

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