Conformal Coating Market Pegged for Robust Expansion by 2026
According to a research report by Stratview Research, Conformal Coating market is likely to witness a CAGR of 5.5% during the forecast period. The prime factor that is driving the conformal coating market is its growing demand from the global PCB industry.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments' Analysis
Stratview Research has segmented the Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane, Parylene, and Others), by End-Use Industry Type (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Telecommunication, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Based on the type, the market is segmented as acrylic, silicone, epoxy, urethane, parylene, and others. Acrylic coating dominated the market in 2019, and is expected to maintain its position during the forecast period. Acrylic coatings are widely used in consumer electronics, aerospace & defense, and automotive industries, leading to its dominance in the global conformal coatings market.
Based on the end-use industry type, the conformal coating market is segmented as consumer electronics, automotive, aerospace & defense, industrial, telecommunication, and others. The consumer electronics segment held the largest share of the market in 2019, and is also expected to witness a healthy growth during the forecast period. Significant economic development in the emerging economies along with the growing disposable income of consumer is the major factor behind the dominance of the consumer electronics segment.
In terms of regions, North America is expected to remain the largest market during the forecast period, mainly driven by the USA. Asia-Pacific is estimated to be the fastest-growing market for conformal coatings during the forecast period. China, Japan, South Korea, Taiwan, and India are the key countries driving the growth of the region’s market. Significant economic development in the region is paving the path of transportation, electricals & electronics, medical, and industrial sectors, leading to a higher demand for conformal coating in the region.
The following are the key players in the Conformal Coating Market -
· Henkel AG & Company
· KGaA
· Illinois Tool Work
· Shin-Etsu Chemical Co., Ltd.
· The Dow Chemical Company
· H.B. Fuller Company
· Chase Corporation
· Electrolube Limited
· Dymax Corporation
· MG Chemical
· Specialty Coating System
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Stratview Research is a global market research firm that delivers precise data and ground-breaking business study, helping organizations of all sizes make suitable decisions. We gather information for our clients, assisting them to address various challenges, and trends related to their market.
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