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3. Henkel AG & CO. KGAA (Germany) and Illinois Tool Works Inc. (US) are Leading Players in the Conformal Coating Market

The Conformal coatings market size is estimated to be USD 1.4 billion in 2023, and it is projected to reach USD 1.8 billion by 2028 at a CAGR of 5.3%. Conformal coatings refer to thin layers of protective material that are applied to electronic components and circuit boards. The primary purpose of these coatings is to shield these components from a range of environmental factors, including moisture, dust, chemicals, and temperature fluctuations. What sets conformal coatings apart is their ability to seamlessly "conform" to the intricate contours of the components and boards, creating a uniform and continuous protective barrier. These applications span sectors like electronics manufacturing, where circuit boards and connectors receive coatings to fend off moisture and contaminants, ensuring the continued functionality of devices. The automotive realm benefits from these coatings, too, as they shield sensitive electronics from the unforgiving conditions within vehicles, including temperature fluctuations and vibrations, critical for maintaining automotive control systems and entertainment setups. Similarly, aerospace and defense heavily rely on conformal coatings to protect electronics from the rigorous conditions inherent to aircraft, satellites, and military equipment. These coatings prove indispensable in medical devices, enhancing their reliability and safety by guarding against moisture, bodily fluids, and chemicals. Furthermore, industrial electronics, telecommunications, consumer electronics, LED lighting, and renewable energy systems all leverage conformal coatings to extend the lifespan and resilience of electronic components in their respective domains. In each application, the chosen coating material and application technique are tailored to meet the specific challenges and requirements posed by the industry and environment. The market is segmented on the basis of type, such as acrylic, silicone, epoxy, urethane, perylene, and others. The Conformal coatings are used in several end-use industries such as automotive & transportation, electronics, Industrial, aerospace, telecommunication, and others.

Some of the leading companies involved in the manufacturing of Conformal coatings are Henkel AG & CO. KGAA (Germany), Illinois Tool Works Inc. (US), Sealed Air (US), Shin-Etsu Chemical Co. Ltd (Japan), Chase Corporation (US), H.B. Fuller (US) and DOW (US) among others are covered in the Conformal coatings market. Leading players took several strategies for growth to enhance their position in the market. These factors include product launches, contracts, partnerships, mergers, and acquisitions, and the new product development operations further extend its presence in the Conformal coatings market.

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Henkel AG & CO. KGAA (Germany) manufactures, sells, and distributes home and beauty care products. The company also offers coatings technology solutions. It operates in three segments: coatings technologies, beauty care, and laundry and home care. The coatings technologies business segment offers a wide range of products of coatings, sealants, and functional coatings for consumers, craftsmen, and industrial applications. The Beauty Care segment includes hair colors, hair styling, hair care, toiletries, skincare, and oral hygiene products. The Laundry and Home Care segment provides heavy-duty and specialty detergents, fabric softeners, laundry performance boosters, other fabric-care goods, hand and automatic dishwashing items, and bathroom cleaners, including specialty cleaners, glass, and household.

Illinois Tool Works Inc. (US)  is a company that manufactures industrial products and equipment. The company operates through the following business units: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment manufactures automotive-related components and fasteners. The Test & Measurement and Electronics segment produces test and measurement equipment, consumables, and related software for materials, structures, gases, and fluids. The Food Equipment segment sells commercial food equipment and offers related services. Adhesives, sealants, lubrication and cutting fluids, janitorial and hygiene products, and fluids and polymers for auto aftermarket maintenance and appearance are all available from the Polymers & Fluids segment. Arc welding equipment, consumables, and accessories are available from the Welding segment for a variety of industrial and commercial applications.

Related Reports:

Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane, and Parylene), End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication), and Region - Global Forecast to 2028

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