Conformal Coatings Market – Market Overview
Conformal Coatings are a polymer film that acts as a protective barrier to the circuit boards in harsh environments. These coatings are applied as thin layers to act as a protection from salt spray, moisture, chemicals and dust among others to avoid electrical failures, corrosion and mould growth. Corformal Coatings are used in wide range of end use industries such as electrical & electronics, automotive & transportation, aerospace & defense, marine and industrial among others. Conformal Coatings are segmented on the basis of their type, end use and region. On the basis of the type, acrylics and epoxy are anticipated to hold the largest market share during the assessed period. The efficient properties of acrylics such as ease of application, moisture resistance, and inexpensive nature paves its way in many end use industries. On the basis of end use the Global Conformal Coatings Market is segregated into electrical & electronics, automobile & transportation, aerospace & defense, marine and industrial among others. Among the various end use industries electrical and electronics industry is anticipated to the largest segment whereas the marine industry is anticipated to show the highest CAGR during the forecast years.
According to the analysis of MRFR, the major market forces and trends driving growth of the Global Conformal Coatings Market includes growth of automobile sector and the burgeoning growth in the electrical & electronic industry. Moreover, the increasing personal disposable income in the developing countries across the globe has augmented the industrial sector especially in India and china which in turn is fuelling the growth of the Global Conformal Coatings Market during the forecast period.
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Conformal Coatings Market- Competitive Landscape
The Global Conformal Coatings Market is a highly lucrative market driven by flourishing adoption of electronics in the automobile, aerospace and marine industry. Henkel AG & Co. KGAA (Germany), Illinois Tool Works incorporation (U.S.), Shin-Etsu Chemical Co., Ltd (Japan), DOW Corning Corporation (U.S.) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the Global Conformal Coatings Market is projected to witness considerable competition over the forecast period of 2017-2023.
Asia pacific is expected to be largest and the fastest growing region during the forecast years. The growing industrial growth in the emerging countries is the major reason contributing to the growth of the market in these region. Moreover, increasing population in India and China has brought about more spending in the automobile industry which in turn is positively effecting the market growth. Furthermore, the growing electrical & electronics sector mainly in China, Japan and India is also positively reflecting to the market growth.
Industry/ Innovation/ Related News:
22nd November 2016- HumiSeal an American manufacturer of electronic coatings made a new addition to their product portfolio of conformal coatings. The company released a two part silicone conformal coating 2C51. This new coating is transparent film enables superior protection and has low VOC content. This new product is in line with their strategy to further enhance their market grip and cater to a wide range of environment consciousness consumers.
23rd August 2016– Intertronics an U.K based manufacturer of adhesives and coatings has launched a new product Dymax Multi-Cure 9451. This new product is a black and opaque conformal coating that helps in enhancing the security of electronic products. According to the company, the product enhances security by covering the circuit board and components hiding the electronic components from inspection.
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