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Conformal coating Market Size
Conformal Coating Market was valued at USD 996.70 million in 2023 and is anticipated to register a CAGR of over 6.5% during 2024 to 2032. As electronic devices continue to shrink in size and components become more densely packed, the need for effective protection against environmental factors like moisture, dust, and chemicals becomes critical. Conformal coatings provide this protection without adding bulk to the electronic assemblies.
The aerospace and defense sectors require highly reliable electronics in mission-critical applications. Conformal coatings are essential for safeguarding sensitive equipment from extreme conditions, including high altitudes and rapid temperature changes. The use of electronic components in medical devices continues to grow, and these devices must adhere to stringent safety and biocompatibility standards. Conformal coatings are applied to protect and ensure the reliability of electronics in medical equipment.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 996.7 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.5% |
| 2032 Value Projection: | USD 1.68 Billion |
| Historical Data for: | 2018 – 2023 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 136 |
| Segments covered: | Product, End-use, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Applying conformal coatings can be a complex and labor-intensive process. Selecting the appropriate conformal coating material for a specific application is crucial. Choosing the wrong material can lead to compatibility issues, adhesion problems, or inadequate protection. Conformal coatings often contain volatile organic compounds (VOCs) or hazardous substances.
COVID-19 Impact
Many manufacturing facilities worldwide experienced production slowdowns or temporary shutdowns due to lockdowns and restrictions. This led to a reduction in the production of electronic devices and components that require conformal coatings. Reduced consumer spending and lower industrial activity during the pandemic led to decreased demand for consumer electronics and automotive components.
Conformal coating Market Trends
There is a significant shift towards environmentally friendly conformal coating materials. Manufacturers are developing coatings with reduced or no volatile organic compounds (VOCs) and hazardous substances to comply with stricter environmental regulations and meet sustainability goals.
UV-curable conformal coatings are gaining popularity due to their rapid curing capabilities. They offer high-performance protection and allow for faster processing and reduced energy consumption. The demand for optically clear conformal coatings is growing in industries like display and optical systems. These coatings provide protection without affecting optical clarity, making them suitable for touchscreen devices and lenses.
Conformal coating Market Analysis
Based on product, the acrylic segment ccrossed USD 425 million in 2022. Acrylic coatings are known for their ease of application, making them a popular choice for manufacturers seeking efficient and cost-effective solutions. The ability to provide good moisture resistance makes acrylic coatings in demand for applications exposed to humidity and condensation.
Based on end-use, the electronics and electricals segment accounted for over 35% of the market share in 2022. The electronics industry demands conformal coatings to protect small, densely packed electronic components from moisture, dust, and chemicals. The proliferation of smartphones, tablets, and wearables increases the demand for conformal coatings in these consumer devices. The automotive industry demands reliable and durable conformal coatings to ensure long-lasting performance in vehicles.
North America dominated the global Conformal coating market in 2022. The electronics industry in North America continues to demand conformal coatings to protect increasingly miniaturized electronic components in products like smartphones, tablets, and wearables. Within North America, the U.S. generated a revenue of over USD 331 million in 2022. The U.S. military's investment in electronics and technology drives demand for conformal coatings that meet stringent requirements for military applications. The medical device industry in North America requires conformal coatings that meet strict biocompatibility and safety standards for use in medical equipment and implantable devices.
Conformal coating Market Share
Major players operating in the Conformal coating industry include:
- Henkel AG & Co. KGaA
- Chase Corporation
- Dymax Corporation
- Electrolube
- H.B. Fuller Company
- Shin-Etsu Chemical Co., Ltd
- Dow Inc
Henkel AG & Co. KGaA and Chase Corporation are dominant players in the market due to their vast product portfolio. Henkel AG & Co. KGaA’s ecosystem integration, along with consistent innovation, have attracted millions of customers. Their brand recognition and exclusive content deals solidify their leadership in the highly competitive market.
Conformal coating Market News
- In March 2022, HumiSeal introduced conformal coating UV500-2, providing PCB protection. It is designed to provide additional performance under thermal and mechanical cycling testing common in the automotive and white goods industries.
- In April 2022, Shin-Etsu Silicones of America, Inc. (SESA), a U.S. subsidiary of Japan-based ShinEtsu Chemical Co. Ltd., launched MR-COAT-01F and 02F conformal coating series. These products feature high hardness and extremely high elongation for better abrasion resistance and less stress on PCB components.
- In October 2021 – Electrolube launched a new UV Cure Coating Xtra (UVCLX), a bio-based conformal coating. This new bio coating is primarily made using organic content that is obtained from a renewable source.
- In October 2021 – In order to increase electronics reliability in the harshest of environments, Electrolube, a part of MacDermid Alpha Electronics Solutions, launched a new generation of conformal coatings and thermal gap fillers at Productronica.
This Conformal coating market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2018 to 2032, for the following segments:
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By Product
- Acrylic
- Silicone
- Urethane
- Parylene
- Epoxy
By End Use
- Electronics and Electricals
- Automotive
- Aerospace and Defense
- Medical
- Industrial Machinery
- Consumer Electronics
- Telecommunications
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
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