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Electronics Conformal Coating Market: Market Leader
Conformal coating is a thin protective coating which conforms to the surface of electronic circuits and components, and protects them from moisture, heat, corrosion, fungus, dust, chemicals, temperature extremes, and dielectric failures. MarketsandMarkets forecast the conformal coating market size to grow from USD 17.01 Billion in 2014 to USD 24.17 Billion by 2020, at a CAGR of 5.99% between 2015 and 2020. Increasing use of automation and adding as well as enhancing features of the end products by Original Equipment Manufacturers (OEMs) has resulted in the increase in the use of electronic components; this factor has led to the increasing need for conformal coating.
The key players in the conformal coating market include Chase Corporation (U.S.), MG Chemicals Ltd. (Canada), DOW Corning Corporation (U.S.), Chemtronics (U.S.), Dymax Corporation (U.S.), Electrolube (U.K.), Nordson Corporation (U.S.), Precision Valve & Automation, Inc. (U.S.), Shin-Etsu Chemical Co. Ltd. (Japan), Henkel AG & Co. KGaA (Germany), and Peters Group (Germany).
The conformal coating market witnessed many acquisitions by key players between 2013 and 2015. Nordson Corporation (U.S.) acquired Matrix Technologies GmbH (Germany) which is engaged in the manufacturing of automated X-ray inspection (AXI) equipment used for the inspection of quality of critical electronic devices, electronic printed circuit boards, and fully assembled products. Additionally, Chase Corporation (U.S.) broadened its specialty chemical expertise with the acquisition of microspheres business from Henkel Corporation (U.S.).
The key players also adopted the strategy of expansions to increase their geographic presence and expand their product portfolio to untapped markets. Chase Corporation (U.S.) signed distribution agreements with Solder Connection (Ireland) and Conro Electronics (U.K.), to distribute their conformal coating products in Ireland, and the U.K. regions. Nordson ASYMTEK (U.S.) entered into a distribution agreement with Esman Elektronik, Inc. (Turkey) under which Esman Elektronik would be distributing the fluid dispensing, jetting, and conformal coating products of Nordson ASYMTEK in Turkey.
The major players also launched new products and offering, to strengthen their product portfolio and to expand their offerings to newer clients. In 2015, Nordson Corporation (U.S.) introduced new dispensing system, ‘NexJet NJ-8 system’, and fluid dispensing system, ‘Spectrum II’. Precision Valve & Automation, Inc. (U.S.) launched a new conformal coating system named Delta 3 selective coating system designed for robotic coating process, and an in-line automated inspection module ‘PVA 20/20 coating inspection system’.
Electronics Conformal Coating Market by Material (Acrylic, Silicone, & Others), Equipment (Curing, Coating, & Others), Method (Brush Coating, Dipping, & Others), Application (Automotive Electronics, Medical Electronics, & Others), and Geography - Global Forecasts to 2020
Markets and Markets
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