Conformal Coatings are widely used in electronic devices to protect the devices from heat, moisture, corrosion and ultraviolet rays. These coatings are classified into acrylic, epoxy, silicone, parylene, urethane, and others. Acrylic is the most preferred type due to its strong dielectric resistance property and ease in removing the coating. Increasing demand for electronic devices in various applications such as telecommunication, medical and automobile are propelling the market growth. These coatings are mainly used by the automotive and aerospace industry in circuit boards to prevent the corrosion of conductors. The Silicone Coating is increasingly used in automotive industry due to humidity resistance, salt spray resistance and flexibility. Expanding automobile industry in the developing regions due to rising automotive production & sales coupled with improving the living standard of the consumers and is propelling the market growth. The product demand is increasing in the marine industry due to its superior properties such as high chemical resistance and humidity resistance.
Some of the major players in the Global Conformal Coatings Market are The Dow Chemical Industry (U.S.), Specialty Coatings System Inc. (U.S.), Global Manufacturing Services, Inc (U.S.), HemiSeal (U.S.), Henkel AG & Co. KgaA (Germany), Chemtronics (India), H.B.Fuller Company (U.S.), Electrolube (UK), Europlasma NV (Belgium), and Shin-Etsu Chemical Co., Ltd (Japan).
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The Global Conformal Coatings Market has been segmented into type, end-use industry, and region.
On the Basis of the Type, the market is divided into acrylics, epoxy, urethane, silicone, parylene and others.
Based on End-Use Industry, the market is segmented into electronics, automobile, aerospace, marine and others.
Geographically, the market is divided into five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America was the dominant region in the Global Conformal Coatings Market due to its increasing use in the electronic devices mainly in automobile and aerospace industry. Additionally, increasing expenditure on consumer electronics mainly in home appliances, smart watches, and wireless devices.
Europe is expected to drive the market growth due to the introduction of high quality and technically advanced products. Increasing expenditure on research and development in electronics by Germany is likely to fuel the product demand in this region.
Asia Pacific region is growing substantially due to rapid urbanization and digitalization in the developing economies such as India and China. Moreover, implementation of various initiatives such as Smart City and Startup in India is encouraging the Indian companies to focus on product innovation and R&D.
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