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Conformal Coatings Market Size By Product (Epoxy, Silicone, Parylene, Urethane, Acrylic and Others), By End-User (Aerospace & Defence, Medical, Automotive, Industrial Machinery & Equipment, Electronics and Others), Regions, Segmentation, and Projection till 2030

CAGR: 6%Current Market Size: USD 986.7 MillionFastest Growing Region: North America

Largest Market: APACProjection Time: 2023-2030Base Year: 2022

Global Conformal Coatings Market- Market Overview:

The global conformal coatings market is expected to grow from USD 986.7 million in 2022 to USD 1572.6 million by 2030, at a CAGR of 6% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising technological advancements and increasing demand in various applications of agriculture and the automotive sector etc.

As a thin polymeric film, conformal coatings protect a printed circuit board's components by conforming to its outline. An acrylic and urethane copolymer conformal coating is a protective chemical or polymeric film that protects the board from harsh conditions. While containing a small amount of solvent to reduce viscosity, copolymer conformal coatings are still much less solvent than acrylic or polyurethane formulations. In addition to protecting PCBs, conformal coatings ensure the durability of electronic products. Polymer-based conformal coatings are applied to PCBs as a thin layer that provides excellent protection to the product. It is expected to grow in popularity due to increasing consumer electronics demand. Also, the widespread adoption of coatings in consumer electronics, automobiles, and other industries is likely to boost the product adoption. The strength and durability of these products may be compromised as consumers keep demanding lightweight electronics. In the Projectioned period, conformal coatings are expected to boost the growth of the global conformal coatings market due to their protective properties that enhance their performance. Additionally, as consumers continue to demand lightweight electronics, their strength and durability will likely be compromised, so conformal coatings are expected to support the growth of the conformal coatings market during the Projectioned period, as they provide enhanced protective properties.

Sample Request: - Global Conformal Coatings Market

Market Dynamics:

Drivers:                          

  • Technological advancement

To increase market share and serve various industries, manufacturers of conformal coatings are focusing on new innovations and technologies. In the Projectioned period, the production of conformal coatings is expected to increase, and competition in the market will be fierce. Electrical manufacturers are concerned about protecting their boards and their components from moisture, chemicals, and other contaminants.

Restraints:                                             

  • High cost

A high cost of replacement if a coating is damaged, as well as technological limitations, are limiting the growth of the conformal coatings market. In addition, water condensation and corrosion failures of electronics are not guarded by protective conformal coatings, limiting the growth of the global conformal coatings market. Capillary forces from low standoff components degrade coating performance.

Opportunities:

  • Increasing demand for lightweight

Automobile and electronic industries are driving demand for conformal coatings, and lightweight vehicles are driving the market as well. Automobiles are widely equipped with conformal coatings, which reduce weight and oil consumption, and will boost the market for conformal coatings as digitalization and electrical dependence increase.

Challenges:

  • Rising environmental concerns

The cleaning and pre-treatment phases of conformal coatings operation produce waste streams containing oil, and grease, as well as suspended solids. For conformal coating companies that use electroplating processes, heavy metal contamination in wastewater has been a problem for years. Many state and local environmental regulations make it difficult for them to comply.

Segmentation Analysis:

The global conformal coatings market has been segmented based on product, end-user, and region.

By Product

The product segment includes epoxy, silicone, parylene, urethane, acrylic and others. The parylene segment led the largest share of the conformal coatings market with a market share of around 32% in 2022. Unlike other types of coatings, parylene conformal coatings are produced at room temperature and deposited by vapour phase deposition. They have high dielectric strength and solvent resistance and are highly resistant to moisture and extreme temperatures. Parylene is applied in a very thin film by vapour phase deposition, so it offers excellent circuit board protection. It can penetrate easily and can be used on various substitutes such as metals and glass.

By Application

The end-user segment includes aerospace & defence, medical, automotive, industrial machinery & equipment, electronics and others. The electronics segment led the largest share of the conformal coatings market with a market share of around 31% in 2022. Consumer electronics have been growing in popularity as a consequence of the COVID-19 pandemic and the increasing prevalence of highly advanced electronic circuit boards, making it the fastest-growing segment of the global conformal coatings market. Accordingly, conformal coatings will be in high demand over the Projectioned period because these circuit boards are susceptible to dust, high temperatures, humidity, and other air pollutants.

Global Conformal Coatings Market- Sales Analysis.

The sale of conformal coatings expanded at a CAGR of 5.8% from 2016 to 2022.

Manufacturers of conformal coatings for printed circuit boards are focusing on new innovations and technologies in order to grow their market share and serve different industries. As a result, conformal coating production is rising and the market is expected to be highly competitive during the Projection period.

As miniaturized electronics and circuitry become more popular, conformal coating is also becoming increasingly relevant in a variety of modern PCB-related applications, strengthening its relevance. In addition, the growing youth population around the world is driving the demand for consumer electronics, as well as conformal coatings.

Additionally, its rising demand from the automotive and aerospace industries is also contributing to market growth. Demand for refrigerators and consumer electronics goods is increasing in rural markets, boosting market growth.

Thus, owing to the aforementioned factors, the global conformal coatings market is expected to grow at a CAGR of 6% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the conformal coatings market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the conformal coatings market and held a 38% share of the market revenue in 2022.

  • The Asia Pacific region witnessed a major share. According to the Projection, the Asia Pacific region will represent the largest growth market during the Projection period. The high demand for conformal coatings in Asia Pacific is driven by positive demand from industries like aerospace, automotive, electronics, and manufacturing. Due to the high demand from countries like India and China, the Asia-Pacific electronic industry has seen rapid growth. China's low labour costs and flexible policies make it an attractive market for electronics producers.
  • North America is anticipated to experience significant growth during the predicted period. The strong demand for electric cars in North America is expected to drive product demand, and the increasing adoption of electronics in electric and hybrid vehicles is expected to lead to further growth in the industry. Automating end-use industries will contribute to the development of complex adaptive systems, cloud-based supervisory control and data acquisition systems, and programmable automation controllers, which will positively impact the market for conformal coatings.

Global Conformal Coatings Market - Country Analysis:

  • Germany

Germany's conformal coatings market size was valued at USD 10.5 billion in 2022 and is expected to reach USD 21.38 billion by 2030, at a CAGR of 9.3% from 2023 to 2030.

During the Projection period, the market will be boosted by exciting features such as emergency call systems, alcohol ignition interlocks, and accident data recorders with increasing adoption. As OEMs focus on research & development, they are making a large investments to come up with innovative products with cost control.

  • China

China’s conformal coatings market size was valued at USD 11.3 billion in 2022 and is expected to reach USD 23.5 billion by 2030, at a CAGR of 9.6% from 2023 to 2030.

Despite being the world's largest electronics manufacturer, China is in tough competition with South Korea, Singapore, and Taiwan, which are currently upstream producers. As a result of the highest growth rate of consumer electronics products, smartphones, OLED TVs, and tablets, among others, have the most demand in the market.

  • India

India's conformal coatings market size was valued at USD 8.7 billion in 2022 and is expected to reach USD 17.9 billion by 2030, at a CAGR of 9.5% from 2023 to 2030.

A number of crucial factors contributed to the growth of the India Conformal Coatings market, including the increased production of consumer electronics, including smartphones and other white goods. The country's growing electronics industry provides major growth opportunities for industry players, as the country has an industrial and manufacturing environment.

Key Industry Players Analysis:  

To increase their market position in the global conformal coatings market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

  • ALTANA
  • Chase Corp
  • Dymax Corporation
  • ACC Silicones Inc.
  • KISCO LTD
  • Electrolube
  • Aalpha Conformal Coatings
  • Chemotronics
  • Dow
  • B. Fuller
  • Specialty Coating Systems
  • Henkel AG & Company

Latest Development:

  • In October 2020, As part of a strategic investment, Henkel AG & Co, KGaA is investing in Actnano, an advanced materials start-up based in Massachusetts. Providing conformal coatings solutions for printed circuit boards in growing segments of the electronics industry, Actnano provides tailored solutions for protecting printed circuit boards.

Report Metrics

Report Attribute 

Details

Study Period

2022-2030

Base year

2022

CAGR (%)

6%

Market Size

986.7 million in 2022

Projection period

2023-2030

Projection unit

Value (USD)

Segments covered

By Product, By End-User, and By Region.

Report Scope

Revenue Projection, competitive landscape, company ranking, growth factors, and trends

Companies covered

ALTANA, Chase Corp, Dymax Corporation, ACC Silicones Inc., KISCO LTD, Electrolube, Aalpha Conformal Coatings, Chemotronics, Dow, H.B. Fuller, Specialty Coating Systems, and Henkel AG & Company.

By Product

  • Epoxy
  • Silicone
  • Parylene
  • Urethane
  • Acrylic
  • Others             

By End-User

  • Aerospace & Defence
  • Medical
  • Automotive
  • Industrial Machinery & Equipment
  • Electronics
  • Others                                

Regional scope

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Scope of the Report

Global Conformal Coatings Market by Plain Bearing Type:

  • Epoxy
  • Silicone
  • Parylene
  • Urethane
  • Acrylic
  • Others

Global Conformal Coatings Market by End-User:

  • Aerospace & Defence
  • Medical
  • Automotive
  • Industrial Machinery & Equipment
  • Electronics
  • Others

Global Conformal Coatings Market by Region:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What will be the expected market size of the conformal coatings market in 2030?

Global conformal coatings market is expected to reach USD 1572.6 million by 2030, at a CAGR of 6% from 2023 to 2030.

Which are the leading market players active in the conformal coatings market?

Leading players in the conformal coatings market are ALTANA, Chase Corp, Dymax Corporation, ACC Silicones Inc., KISCO LTD, Electrolube, Aalpha Conformal Coatings, Chemotronics, Dow, H.B. Fuller, Specialty Coating Systems, Henkel AG & Company among others.

What are the driving factors of the conformal coatings market?

Increasing demand for bearings in the railways and advancement in the automotive sector.

Which region will witness more growth in the conformal coatings market?

Asia Pacific region will witness more growth in the conformal coatings market.

Political Factors- The profitability of the conformal coatings Market will be directly impacted by entering high-tax countries. High taxes impede exports and have an impact on global trade. The market for conformal coatings is able to take part in transactions with low taxes and gain from sizable profits that may be used to fund R&D initiatives. In order to comprehend the aims and interests of the host government in emerging industries, the company may also investigate the tax laws that are relevant to the firm. High trade barriers may make the current economic crisis worse by damaging exports and connections with other trading partners across the world.

Economical Factors- If the conformal coatings Market is able to meet its long-term growth objectives will depend on the GDP growth rate. Increased consumer spending power for the goods being supplied is another indication of a high GDP. An indication that there is surplus labour available at relatively cheaper wages is a high unemployment rate. The conformal coatings market exists so that production costs can be reduced. The interest rate and how it affects a company's ability to borrow money and its investment philosophy should be carefully taken into account. Due to the high interest rate, which will promote an investment-friendly mindset, the market for conformal coatings will have a bigger development potential. Finally, fluctuations in exchange rates could impact both profitability and global trade.

Social Factor- For international markets like the conformal coatings Market, changes in demographic patterns, such as population ageing, migration trends, and socioeconomic aspects, are critical. The conformal coatings Market may select the proper market segment or sectors with significant development potential with the aid of research on the demographic aspects. Migration also has an impact on business operations and marketing plans. It is crucial for the conformal coatings Market to comprehend how people feel about migration in general because this might affect businesses' capacity to hire foreign management in the host country.

Technological Factors- If the conformal coatings Market is to remain competitive, it must carefully study current technological breakthroughs. It's crucial to pay attention to how 5G could improve user experience, speed, and access to increase productivity. These technological advancements have the power to fundamentally alter a sector of the economy and alter the guidelines for market actors' success. It is also necessary to take into account the technology's state of development and maturity within the relevant sector. The conformal coatings Market may boost its market share by concentrating on new technology advancements when it enters markets where technological development has not yet reached maturity.

Environmental Factors- Utilization of green or environmentally friendly products is increasing. The conformal coatings Market can seize the chance and use green business practises to get the confidence of stakeholders. Priorities for product innovation are shifting as a result of regulatory organisations' emphasis on ensuring conformance with environmental regulations. Traditional value propositions must be prioritised over the marketing of the eco-friendliness of the products in the conformal coatings Market. Due to its excessive resource usage, the market for conformal coatings may draw criticism from the media, environmental protection organisations, customers, and the general public.

Legal Factors- Since certain nations have severe laws safeguarding worker safety, the conformal coatings Market must adhere to employee/labor health and safety criteria. The conformal coatings Market has a moral and ethical responsibility to give each of its employees a safe place to work. Anti-discrimination laws (such as equal employment opportunity laws) must also be carefully considered when creating human resource practises, much like the aforementioned, because discriminatory lawsuits against employers damage an organization's reputation and impair its capacity to attract and retain talent.

  1. Introduction
    • 1. Objectives of the Study
    • 2. Market Definition
    • 3. Research Scope
  2. Research Methodology and Assumptions
  3. Executive Summary
  4. Premium Insights
    • 1. Porter’s Five Forces Analysis
    • 2. Value Chain Analysis
    • 3. Top Investment Pockets
      • 3.1. Market Attractiveness Analysis By Product
      • 3.2. Market Attractiveness Analysis By End-User
      • 3.3. Market Attractiveness Analysis By Region
    • 4. Industry Trends
  5. Market Dynamics
    • 1. Market Evaluation
    • 2. Drivers
      • 2.1. Technological advancement
    • 3. Restraints
      • 3.1. High cost
    • 4. Opportunities
      • 4.1. Increasing demand for lightweight
    • 5. Challenges
      • 5.1. Rising environmental concerns
  1. Global Conformal Coatings Market Analysis and Projection, By Product
    • 1. Segment Overview
    • 2. Epoxy
    • 3. Silicone
    • 4. Parylene
    • 5. Urethane
    • 6. Acrylic
    • 7. Others
  2. Global Conformal Coatings Market Analysis and Projection, By End-User
    • 1. Segment Overview
    • 2. Aerospace & Defence
    • 3. Medical
    • 4. Automotive
    • 5. Industrial Machinery & Equipment
    • 6. Electronics
    • 7. Others
  3. Global Conformal Coatings Market Analysis and Projection, By Regional Analysis
    • 1. Segment Overview
    • 2. North America
      • 2.1. U.S.
      • 2.2. Canada
      • 2.3. Mexico
    • 3. Europe
      • 3.1. Germany
      • 3.2. France
      • 3.3. U.K.
      • 3.4. Italy
      • 3.5. Spain
    • 4. Asia-Pacific
      • 4.1. Japan
      • 4.2. China
      • 4.3. India
    • 5. South America
      • 5.1. Brazil
    • 6. Middle East and Africa
      • 6.1. UAE
      • 6.2. South Africa
  1. Global Conformal Coatings Market-Competitive Landscape
    • 1. Overview
    • 2. Market Share of Key Players in the Conformal Coatings Market
      • 2.1. Global Company Market Share
      • 2.2. North America Company Market Share
      • 2.3. Europe Company Market Share
      • 2.4. APAC Company Market Share
    • 3. Competitive Situations and Trends
      • 3.1. Technology Launches and Developments
      • 3.2. Partnerships, Collaborations, and Agreements
      • 3.3. Mergers & Acquisitions
      • 3.4. Expansions
  1. Company Profiles
    • ALTANA
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Chase Corp
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Dymax Corporation
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • ACC Silicones Inc.
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • KISCO LTD
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Electrolube
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Aalpha Conformal Coatings
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Chemotronics
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Dow
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • B. Fuller
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Specialty Coating Systems
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Henkel AG & Company
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

  1. Global Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  2. Global Epoxy, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  3. Global Silicone, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  4. Global Parylene, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  5. Global Urethane, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  6. Global Acrylic, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  7. Global Others, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  8. Global Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  9. Global Aerospace & Defence, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  10. Global Medical, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  11. Global Automotive, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  12. Global Industrial Machinery & Equipment, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  13. Global Electronics, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  14. Global Others, Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  15. Global Conformal Coatings Market, By Region, 2023–2030 (USD Million)
  16. North America Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  17. North America Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  18. USA Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  19. USA Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  20. Canada Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  21. Canada Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  22. Mexico Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  23. Mexico Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  24. Europe Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  25. Europe Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  26. Germany Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  27. Germany Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  28. France Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  29. France Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  30. UK Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  31. UK Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  32. Italy Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  33. Italy Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  34. Spain Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  35. Spain Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  36. Asia Pacific Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  37. Asia Pacific Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  38. Japan Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  39. Japan Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  40. China Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  41. China Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  42. India Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  43. India Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  44. South America Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  45. South America Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  46. Brazil Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  47. Brazil Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  48. Middle East and Africa Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  49. Middle East and Africa Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  50. UAE Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  51. UAE Conformal Coatings Market, By End-User, 2023–2030 (USD Million)
  52. South Africa Conformal Coatings Market, By Product, 2023–2030 (USD Million)
  53. South Africa Conformal Coatings Market, By End-User, 2023–2030 (USD Million)

List of Figures 

  1. Global Conformal Coatings Market Segmentation
  2. Conformal Coatings Market: Research Methodology
  3. Market Size Estimation Methodology: Bottom-Up Approach
  4. Market Size Estimation Methodology: Top-Down Approach
  5. Data Triangulation
  6. Porter’s Five Forces Analysis
  7. Value Chain Analysis
  8. Global Conformal Coatings Market Attractiveness Analysis By Product
  9. Global Conformal Coatings Market Attractiveness Analysis By End-User
  10. Global Conformal Coatings Market Attractiveness Analysis By Region
  11. Global Conformal Coatings Market: Dynamics
  12. Global Conformal Coatings Market Share By Product (2023 & 2030)
  13. Global Conformal Coatings Market Share By End-User (2023 & 2030)
  14. Global Conformal Coatings Market Share by Regions (2023 & 2030)
  15. Global Conformal Coatings Market Share by Company (2021)

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