Global Conformal Coating Stripper Market Is Estimated To Witness High Growth Owing To Increasing Demand from Electronics Industry and Rising Focus on Productivity Improvement
The global conformal coating stripper market is estimated to be valued at US$ 9.84 billion in 2022 and is expected to exhibit a CAGR of 3.4% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Conformal coating strippers are chemicals used in the electronics industry to remove conformal coatings from printed circuit boards (PCBs). These coatings provide protection against moisture, dust, chemicals, and temperature variations. The market for conformal coating strippers is driven by the increasing demand for electronics devices, such as smartphones, tablets, and wearable devices. The rise in the production of these devices has led to a higher demand for conformal coating strippers to ensure efficient manufacturing and quality control.
Market Dynamics:
The Conformal Coating Stripper Market is driven by two main factors. Firstly, the increasing demand from the electronics industry for products such as smartphones and wearable devices has led to the need for efficient and reliable conformal coating removal processes. This has resulted in the adoption of conformal coating strippers to ensure the quality of the PCBs used in these devices. Secondly, the rising focus on productivity improvement in the electronics manufacturing industry has led to the development of advanced conformal coating strippers that offer faster and more efficient coating removal processes. For example, the development of low-temperature strippers that can remove coatings without damaging the components has been a significant advancement in the market.
SWOT Analysis:
Strengths:
- Efficient conformal coating removal process
- Increased demand from the electronics industry
Weaknesses:
- Environmental concerns related to the use of chemicals
- Volatile organic compound (VOC) emissions during the coating removal process
Opportunities:
- Development of eco-friendly and low-VOC conformal coating strippers
- Expansion of the electronics industry in emerging economies
Threats:
- Stringent regulations regarding chemical usage and VOC emissions
- Increasing competition from alternative coating removal methods
Key Takeaways:
In terms of market size, the global conformal coating stripper market is expected to witness high growth, exhibiting a CAGR of 3.4% over the forecast period. This growth is driven by the increasing demand from the electronics industry for efficient conformal coating removal processes. Additionally, the market is dominated by the Asia-Pacific region, which is the fastest-growing region due to the presence of major electronics manufacturing hubs, such as China, South Korea, and Japan.
Key players operating in the global conformal coating stripper market include Henkel AG & Co. KGaA, Chemtronics, Electrolube, Dow Corning Corporation, 3M Company, Dymax Corporation, KYZEN Corporation, Master Bond Inc., Techspray, Chase Corporation, ACC Silicones Ltd., LORD Corporation, Shin-Etsu Chemical Co., Ltd., Avery Dennison Corporation, and MG Chemicals. These players focus on product innovation and strategic partnerships to strengthen their market presence and cater to the growing demand for conformal coating strippers.
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