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 2025
The conformal coating market is projected to reach USD 1,081 million by 2025, at a cagr 6.0%. The factors promoting the growth of the market are the increasing number of PCB manufacturers in the APAC region and growing demand from high end applications that require the use conformal coatings.
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COVD-19 Impact on the Conformal Coating Market:
The conformal coating market is impacted by the COVID 19, due to the disruption caused by it in the end-use industries globally:
- The automobile industry is heading toward a year of significant decline as a result of extended lockdowns, impact in production, and fall in consumer demand. Sales volumes of passenger and commercial vehicles are projected to drop to levels not seen in over a decade. The automotive industry is struggling with an abrupt and widespread stoppage of economic activity, as workers are advised to stay home, supply chains grind to a halt, and factories are closed. Lockdowns prohibiting the movement of people and the sudden stoppage of economic activity has caused a severe contraction in sectoral output and gross domestic product (GDP). It is estimated that factory closures in Europe and North America have caused some millions of passenger vehicles to be removed from production schedules. These production declines have a cascading effect on OEMs and material suppliers, which will also affect the demand for conformal coatings.
- Amid the COVID-19 pandemic, more than 70% of the global aviation fleet is grounded. About 27,000 aircraft were in service at the beginning of 2020. Currently, less than 7,500 are still flying. The number of fleets is unlikely to recover to the previous levels until the end of 2022 at the earliest. Lockdowns have resulted in reduced passenger traffic and a significant decline in the revenue of airlines. According to the International Air Transport Association (IATA), global airline passenger revenues will drop by USD 314 billion in 2020, a 55% decline compared to 2019. The pandemic has had a significant impact on aircraft manufacturing as well. For instance, Airbus - one of the largest commercial aircraft manufacturing companies globally, has reduced its aircraft production rates by roughly one-third due to the COVID-19 pandemic. Boeing has also reported a first-quarter loss of USD 641 million. This has significantly affected the use of conformal coatings used in new aircraft production, as well as MRO operations
Conformal Coating Market Dynamics
Driver: Increasing demand from high-end applications requiring conformal coating
Conformal coating is highly preferred in PCBs, which are used in high-end applications in aerospace & defense and automotive industries. The aerospace & defense industry uses conformal coatings in space shuttle controls & systems, aircraft communications & controls, satellite systems, robotic cable assemblies, lightening protection chassis, and other similar technologies.
For the aerospace & defense industry, reliability on conformal coatings performance is the overriding issue. Conformal coatings in aerospace electronics must perform in extreme environments and hazardous situations. There is a difference in the electronics used in the aerospace & defense industry and the ones used in other industries. Electronics used in this industry are smaller in size that reduces the weight of the components and increases their functionality as well as performance. New technologies need to be thoroughly tested to check their reliability before they can be used in critical applications.
PCBs used in the aerospace & defense sector have the tolerance levels of ±0.0005 on etched features. Conformal coatings should also meet specific aerospace standards such as RTCA-DO-160 and MIL-STD-810 in order to get reliability tag from end users. These factors prove the increased operational parameters for electronic components in the aerospace & defense industry. The growth in this industry is likely to slow down due to the COVID-19 pandemic since air travel has been restricted around the world. Almost every airline has grounded a majority of its aircraft and is deferring orders for new ones as well. Aircraft manufacturing, too was halted due to complete lockdowns in countries of North America and Europe, which are the hubs of aircraft manufacturing.
The automotive industry requires PCB that can withstand high temperatures, moisture, and chemicals such as oils and lubricants for high-end applications such as automatic driver assistance systems (ADAS). ADAS has been increasingly adopted in premium cars, and it is the main user of high density interconnection (HDI) and rigid-flex boards. These applications will drive the market for conformal coatings for the protection of these components for a longer period of time.
Restraint: Miniaturization of PCBs affecting the usage of conformal coating
The trend compact and lighter electronic devices and end-use components have driven the need for miniaturization in PCBs as well. The PCB industry plays a prominent role in the development of electronic gadgets. The use of smaller PCBs results in lower material requirements, reduce space requirements, and fewer recycling requirements. The development of High-Density Interconnect (HDI), a PCB with a greater number of interconnections and occupying minimal space, enables PCB manufacturers in miniaturization of the circuit board. The components in these PCBs are placed closer, and the board space is significantly reduced, without compromising the functionality. Though these trends enabled the manufacturing of efficient electronics devices, miniaturization has resulted in a reduction in the use of coating volumes per PCBs.
Opportunities: Surge in demand for medical equipment due to COVID-19 outbreak
The COVID-19 pandemic has resulted in lockdowns in several countries, compelling the shutting down of several manufacturing facilities. While end-use industries such as automotive & transportation and consumer electronics have declined, the pandemic has resulted in a surge in demand for medical and food packaging. Owing to this increasing demand, medical device and their component manufacturers are operating at maximum capacities. Conformally coated PCBs are used in medical applications since they are effective in protecting electronic devices from erosion and external chemical attack. With healthcare facilities battling the COVID-19 crisis, demand for medical devices and equipment is high, and as a result, machinery to manufacture this equipment is also in high demand, thus creating opportunities for conformal coating manufacturers.
Challenges:Price pressure on conformal coating manufacturers
Currently, the price of conformal coatings is very high, which makes it difficult to penetrate effectively in end-use industries. According to primary and secondary sources, acrylic, epoxy, and urethane are available in the price range of USD 18–USD 35/kg; silicone is available in the range of USD 65–USD 105/kg; and parylene is the most expensive, at a price range of USD 215–USD 300/kg, which is preferred in high-temperature applications in the aerospace & defense industry. This has an adverse effect on the demand for conformal coatings. As the prices of these coatings are high, conformal coating manufacturers are striving hard to minimize the production cost by implementing new technology or minimizing the cost of raw materials. They are also looking to develop coatings that can further increase the adoption to help generate revenues from new application areas.
The environmental challenges pertaining to the use of conformal coatings in dust, corrosion, solvent, and moisture encourage companies to develop reliable products that can withstand such hazardous situations.
Parylene conformal coating is the fastest-growing type for conformal coating.
Parylene conformal coating is a unique type of coating as it is produced at room temperature and is applied through vapour phase deposition method. These coatings offer very high dielectric strength, superior resistance to moisture, solvent and extreme temperature. As parylene is applied using vapour phase method a very thin film, this coating provides excellent circuit board protection. It can penetrate easily and can be used on various substrates such as glass, metal, plastic, and elastomer.
Telecommunication is the second-largest end-use segment in the overall conformal coatings market.
The dawn of 5G has changed the landscape of communication in recent years. Its implementation is expected to bring endless opportunities for all the stakeholders in the value chain. The demand for PCB from this industry is expected to grow rapidly as PCBs are an essential part of 5G infrastructure. Every 5G base station requires huge volumes of PCBs which need to be protected from harsh environment for optimum performance.
APAC is expected to be the largest market for conformal coating during the forecast period both in terms of value and volume.
APAC is projected to have the largest share in the global conformal coatings market from 2020 to 2025. The growing PCB manufacturing base in countries such China, Taiwan, Japan and South Korea is driving the demand in the region.
Key Players in Conformal Coating Market
The key companies profiled in the conformal coatings market are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemical (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemical (Canada) and Specialty Coating System (US).
Conformal Coating Market Report Scope
|
Report Metric |
Details |
|
Years Considered |
2018 - 2025 |
|
Base year |
2019 |
|
Forecast period |
2020–2025 |
|
Units Considered |
Value (USD Thousand) and Volume (Ton) |
|
Segments |
Type, End-Use and Region |
|
Regions |
APAC, Europe, North America and Rest of World |
|
Companies |
This research report categorizes the global conformal coating market based on type, end-use and region.
On the basis of type:
- Acrylic
- Silicone
- Epoxy
- Urethane
- Parylene
On the basis of end-use:
- Consumer electronics
- Automotive
- Aerospace & Defense
- Industrial
- Telecommunication
On the basis of region:
- APAC
- Europe
- North America
- Rest of World
The market is further analyzed for the key countries in each of these regions.
Recent Developments
- In February 2020, Dow introduced DOWSIL CC-820 UV and Moisture Dual Dual-Core Conformal Coating at the IPC APEX EXPO 2020. This is the first solvent less silicone conformal coating which has a moisture dual dual-core system for high throughputs. The new product promotes sustainability, health and safety.
- In March 2019, H.B Fuller announced that it had established H.B. Fuller Japan G.K. This step had been taken to strengthen their engineering adhesive (EA) business in Japan. The company’s EA business serves electronics, transportation, and renewable energies, aerospace, and medical markets.
- In October 2017, H.B Fuller announced that it has had completed the acquisition of Royal Adhesives & Sealants for approx. USD 1.6 billion. This acquisition will combine the expertise of both the companies in high high-value applications such as electronics, hygiene, medical, transportation, clean energy, and construction.
Frequently Asked Questions (FAQ):
What are the major applications for Conformal Coating?
The major applications for conformal coatings is to protect printed circuit boards (PCB) from harsh environment.
What are the major types of Conformal Coating available?
The major types of conformal coatings available in the market are silicone, acrylic, epoxy, urethane, and parylene.
What are the factors driving the growth of the Conformal Coating market?
The major factor driving the growth of the conformal coatings market is the increasing PCB manufacturing base in the APAC region.
Are there any restraints faced by the players in the Conformal Coatings market?
The primary factor restraining the Conformal Coatings market growth is the miniaturization of PCBs that has affected the usage of these coatings.
Are there any upcoming opportunities for the players in the Polypropylene Catalyst market?
COVID-19 has created an opportunity for conformal coatings market in the medical sector due to the increased demand for medical equipments. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 13)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 INCLUSIONS AND EXCLUSIONS FOR CONFORMAL COATINGS MARKET REPORT
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 17)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 List of key data points received from secondary
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 List of key data point from primary sources
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 GLOBAL PCB PRODUCTION
2.2.2 BASED ON THE PCB REVENUES
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS
2.5 RISK FACTORS & LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 25)
4 PREMIUM INSIGHTS (Page No. - 28)
4.1 SIGNIFICANT OPPORTUNITIES IN THE CONFORMAL COATINGS MARKET
4.2 APAC CONFORMAL COATINGS MARKET, BY END-USE INDUSTRY AND COUNTRY
4.3 CONFORMAL COATINGS MARKET, BY COUNTRIES
4.4 MARKET INSIGHTS
5 MARKET OVERVIEW (Page No. - 30)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing base of the PCB manufacturing driving the demand for conformal coatings
5.2.1.2 Increasing demand from high-end applications requiring conformal coating
5.2.1.3 Large-scale demand for conformal coating from the automotive industry
5.2.2 RESTRAINTS
5.2.2.1 Expensive replacement and repair of conformal coatings in case of damage
5.2.2.2 Miniaturization of PCBs affecting the usage of conformal coatings
5.2.2.3 Impact of COVID on end-use industries of PCBs
5.2.3 OPPORTUNITIES
5.2.3.1 Rising adoption by the telecommunication industry
5.2.3.2 Usage in Substrate-like PCB (SLP)
5.2.3.3 Technological advancements in end-use industries
5.2.3.4 Surge in demand for medical equipment due to COVID-19 outbreak
5.2.3.5 Emergence of UV conformal coatings
5.2.4 CHALLENGES
5.2.4.1 Price pressure on conformal coating manufacturers
5.3 PORTER’S FIVE FORCES ANALYSIS
5.3.1 BARGAINING POWER OF SUPPLIERS
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 THREAT OF SUBSTITUTES
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 REGULATORY LANDSCAPE
5.5 YC, YCC DRIVERS
5.6 PRICING ANALYSIS
5.7 VALUE CHAIN
5.8 COVID-19 IMPACT ON END-USE INDUSTRIES
5.8.1 AUTOMOTIVE INDUSTRY
5.8.2 AEROSPACE INDUSTRY
5.8.3 OTHER KEY END-USE INDUSTRIES
5.9 FORECAST IMPACT FACTORS FOR THE CONFORMAL COATINGS MARKET
5.10 CASE STUDY
6 CONFORMAL COATINGS MARKET, BY TYPE (Page No. - 49)
6.1 INTRODUCTION
6.1.1 SILICONE
6.1.1.1 Emerging trends in the end-use industries are expected to drive the demand
6.1.2 ACRYLIC
6.1.2.1 Low cost of acrylic conformal coating to drive the recovery of the market
6.1.3 EPOXY
6.1.3.1 Difficulty in reworkability is hampering its recovery till 2025
6.1.4 URETHANE
6.1.4.1 APAC to be the largest consumer of urethane
6.1.5 PARYLENE
6.1.5.1 Demand from aerospace & defense and medical industry to drive the recovery of the market during forecast period
6.1.6 OTHERS
7 CONFORMAL COATINGS MARKET, BY END-USE INDUSTRY (Page No. - 58)
7.1 INTRODUCTION
7.1.1 AUTOMOTIVE
7.1.1.1 Next-gen automotive industry landscape will drive the recovery of the market
7.1.2 CONSUMER ELECTRONICS
7.1.2.1 Rising disposable income and the development of smart devices drive the market
7.1.3 AEROSPACE & DEFENSE
7.1.3.1 Integration of new technologies will spur the demand
7.1.4 INDUSTRIAL
7.1.4.1 Implementation of Industry 4.0 to boost the market
7.1.5 TELECOMMUNICATION
7.1.5.1 Upcoming 5G technology will drive the market during the forecast period
7.1.6 OTHERS
8 CONFORMAL COATINGS MARKET, BY REGION (Page No. - 71)
8.1 INTRODUCTION
8.2 NORTH AMERICA
8.2.1 US
8.2.1.1 Demand for complex PCB from aerospace & defense to drive the recovery of the market
8.2.2 CANADA
8.2.2.1 Parylene to be the fastest-recovering conformal coating during the forecast period
8.2.3 MEXICO
8.2.3.1 PCB demand from automobile manufactures to drive the recovery in demand during the forecast period
8.3 APAC
8.3.1 CHINA
8.3.1.1 Growing PCB production to drive the recovery of the market
8.3.2 TAIWAN
8.3.2.1 Growing investment in the country to drive the market
8.3.3 JAPAN
8.3.3.1 Global economic & trade tensions are likely to affect the market
8.3.4 SOUTH KOREA
8.3.4.1 Growing demand from major electronics companies will drive the consumption of coatings
8.3.5 VIETNAM
8.3.5.1 Increasing FDI is expected to drive the market
8.3.6 INDIA
8.3.6.1 Increasingly favorable Government policies to boost the market during the forecast period
8.3.7 THAILAND
8.3.7.1 Growing demand for data storage devices to spur the market
8.3.8 REST OF APAC
8.4 EUROPE
8.4.1 GERMANY
8.4.1.1 PCB demand from EV manufacturers to drive the recovery of the market during forecast period
8.4.2 FRANCE
8.4.2.1 Government policies are expected to boost the market
8.4.3 RUSSIA
8.4.3.1 Conformal coatings are expected to have slower recovery in the country
8.4.4 UK
8.4.4.1 Growth of the market is expected to be slow due uncertainty of Brexit
8.4.5 REST OF EUROPE
8.5 ROW
9 COMPETITIVE LANDSCAPE (Page No. - 103)
9.1 INTRODUCTION
9.2 COMPETITIVE SCENARIO
9.2.1 INVESTMENT & EXPANSION
9.2.2 MERGER & ACQUISITION
9.2.3 NEW PRODUCT LAUNCH
9.3 MARKET SHARE ANALYSIS
10 CUSTOMER LANDSCAPE (Page No. - 107)
11 COMPANY PROFILES (Page No. - 117)
11.1 HENKEL AG
11.1.1 BUSINESS OVERVIEW
11.1.2 PRODUCTS OFFERED
11.1.3 WINNING IMPERATIVES
11.1.4 CURRENT FOCUS AND STRATEGIES
11.1.5 HENKEL’S RIGHT TO WIN
11.2 ILLINOIS TOOL WORKS
11.2.1 BUSINESS OVERVIEW
11.2.2 PRODUCTS OFFERED
11.2.3 WINNING IMPERATIVES
11.2.4 CURRENT FOCUS AND STRATEGIES
11.2.5 ILLINOIS TOOL WORKS’ RIGHT TO WIN
11.3 SHIN-ETSU CHEMICAL CO. LTD.
11.3.1 BUSINESS OVERVIEW
11.3.2 PRODUCTS OFFERED
11.3.3 RECENT DEVELOPMENTS
11.3.4 WINNING IMPERATIVES
11.3.5 CURRENT FOCUS AND STRATEGY
11.3.6 SHIN-ETSU’S RIGHT TO WIN
11.4 DOW
11.4.1 BUSINESS OVERVIEW
11.4.2 PRODUCTS OFFERED
11.4.3 RECENT DEVELOPMENTS
11.4.4 WINNING IMPERATIVES
11.4.5 CURRENT FOCUS AND STRATEGY
11.4.6 DOW’S RIGHT TO WIN
11.5 H.B. FULLER
11.5.1 BUSINESS OVERVIEW
11.5.2 PRODUCTS OFFERED
11.5.3 RECENT DEVELOPMENTS
11.5.4 WINNING IMPERATIVES
11.5.5 CURRENT FOCUS AND STRATEGY
11.5.6 H.B. FULLER’S RIGHT TO WIN
11.6 CHASE CORPORATION
11.6.1 BUSINESS OVERVIEW
11.6.2 PRODUCTS OFFERED
11.7 ELECTROLUBE
11.7.1 BUSINESS OVERVIEW
11.7.2 PRODUCTS OFFERED
11.7.3 RECENT DEVELOPMENTS
11.8 DYMAX CORPORATION
11.8.1 BUSINESS OVERVIEW
11.8.2 PRODUCTS OFFERED
11.8.3 RECENT DEVELOPMENTS
11.9 MG CHEMICALS
11.9.1 BUSINESS OVERVIEW
11.9.2 PRODUCTS OFFERED
11.10 SPECIALTY COATING SYSTEMS
11.10.1 BUSINESS OVERVIEW
11.10.2 PRODUCTS OFFERED
11.11 OTHERS
11.11.1 ALTANA AG
11.11.2 CHT UK BRIDGWATER
11.11.3 CSL SILICONES INC
11.11.4 EUROPLASMA NV
11.11.5 PETERS GROUP
11.11.6 CONINS PUNE
11.11.7 INDUSTRIALEX MANUFACTURING
11.11.8 AI TECHNOLOGIES INC
11.11.9 MASTER BOND INC
11.11.10 JOHN C DOLPH
12 APPENDIX (Page No. - 139)
12.1 DISCUSSION GUIDE
12.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
12.3 AVAILABLE CUSTOMIZATIONS
12.4 RELATED REPORTS
12.5 AUTHOR DETAILS
LIST OF TABLES (103 Tables)
TABLE 1 MARKET SEGMENTATION DEFINITION, BY TYPE
TABLE 2 MARKET SEGMENTATION DEFINITION, BY END-USE INDUSTRY
TABLE 3 STANDARDS AND SPECIFICATION PERTAINING TO THE CONFORMAL COATINGS
TABLE 4 CHANGE IN TRENDS FOR YOUR CLIENT (YC) AND YOUR CLIENT’S CLIENT (YCC)
TABLE 5 PRICE OF CONFORMAL COATINGS
TABLE 6 PRICE OF ACRYLIC CONFORMAL COATINGS, BY END-USE INDUSTRY
TABLE 7 PRICE OF EPOXY CONFORMAL COATINGS, BY END-USE INDUSTRY
TABLE 8 PRICE OF SILICONE CONFORMAL COATINGS, BY END-USE INDUSTRY
TABLE 9 PRICE OF URETHANE CONFORMAL COATINGS, BY END-USE INDUSTRY
TABLE 10 PRICE OF PARYLENE CONFORMAL COATINGS, BY END-USE INDUSTRY
TABLE 11 FORECAST IMPACT FACTORS FOR CONFORMAL COATINGS MARKET
TABLE 12 CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 13 CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 14 SILICONE CONFORMAL COATINGS USAGE
TABLE 15 SILICONE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 16 SILICONE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 17 ACRYLIC CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 18 ACRYLIC CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 19 EPOXY CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 20 EPOXY CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 21 URETHANE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 22 URETHANE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 23 PARYLENE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 24 PARYLENE CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 25 OTHER CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 26 OTHER CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 27 CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (TON)
TABLE 28 CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD THOUSAND)
TABLE 29 KEY PCB MANUFACTURERS FOR THE AUTOMOTIVE INDUSTRY
TABLE 30 CONFORMAL COATINGS MARKET SIZE IN AUTOMOTIVE, BY REGION, 2018–2025 (TON)
TABLE 31 CONFORMAL COATINGS MARKET SIZE IN AUTOMOTIVE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 32 KEY PCB MANUFACTURERS FOR THE CONSUMER ELECTRONICS INDUSTRY
TABLE 33 CONFORMAL COATINGS MARKET SIZE IN ELECTRONICS, BY REGION, 2018–2025 (TON)
TABLE 34 CONFORMAL COATINGS MARKET SIZE IN ELECTRONICS, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 35 CONFORMAL COATINGS MARKET SIZE IN AEROSPACE & DEFENSE, BY REGION, 2018–2025 (TON)
TABLE 36 CONFORMAL COATINGS MARKET SIZE IN AEROSPACE & DEFENSE, BY REGION, 2018–2025, (USD THOUSAND)
TABLE 37 CONFORMAL COATINGS MARKET SIZE IN INDUSTRIAL, BY REGION, 2018–2025 (TON)
TABLE 38 CONFORMAL COATINGS MARKET SIZE IN INDUSTRIAL, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 39 CONFORMAL COATINGS MARKET SIZE IN TELECOMMUNICATION, BY REGION, 2018–2025 (TON)
TABLE 40 CONFORMAL COATINGS MARKET SIZE IN TELECOMMUNICATION, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 41 CONFORMAL COATINGS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2018–2025 (TON)
TABLE 42 CONFORMAL COATINGS MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 43 CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (TON)
TABLE 44 CONFORMAL COATINGS MARKET SIZE, BY REGION, 2018–2025 (USD THOUSAND)
TABLE 45 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY COUNTRY, 2018–2025 (TON)
TABLE 46 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY COUNTRY, 2018–2025 (USD THOUSAND)
TABLE 47 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 48 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 49 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (TON)
TABLE 50 NORTH AMERICA: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD THOUSAND)
TABLE 51 US: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018-2025 (TON)
TABLE 52 US: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018-2025 (USD THOUSAND)
TABLE 53 CANADA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 54 CANADA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 55 MEXICO: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 56 MEXICO: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 57 APAC: CONFORMAL COATING MARKET SIZE, BY COUNTRY, 2018–2025 (TON)
TABLE 58 APAC: CONFORMAL COATING MARKET SIZE, BY COUNTRY, 2018–2025 (USD THOUSAND)
TABLE 59 APAC: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 60 APAC: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 61 APAC: CONFORMAL COATING MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (TON)
TABLE 62 APAC: CONFORMAL COATING MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD THOUSAND)
TABLE 63 CHINA: CONFORMAL COATING MARKET, BY TYPE, 2018–2025 (TON)
TABLE 64 CHINA: CONFORMAL COATING MARKET, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 65 TAIWAN: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 66 TAIWAN: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 67 JAPAN: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 68 JAPAN: CONFORMAL COATING MARKET, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 69 SOUTH KOREA: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 70 SOUTH KOREA: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 71 VIETNAM: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 72 VIETNAM: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 73 INDIA: CONFORMAL COATING MARKET, BY TYPE, 2018–2025 (TON)
TABLE 74 INDIA: CONFORMAL COATING MARKET, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 75 THAILAND: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 76 THAILAND: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 77 REST OF APAC: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 78 REST OF APAC: CONFORMAL COATING MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 79 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY COUNTRY, 2018–2025 (TON)
TABLE 80 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY COUNTRY, 2018–2025 (USD THOUSAND)
TABLE 81 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 82 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 83 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (TON)
TABLE 84 EUROPE: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD THOUSAND)
TABLE 85 GERMANY: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 86 GERMANY: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 87 FRANCE: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 88 FRANCE: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 89 RUSSIA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 90 RUSSIA: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 91 UK: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 92 UK: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 93 REST OF EUROPE.: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 94 REST OF EUROPE.: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 95 ROW: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (TON)
TABLE 96 ROW: CONFORMAL COATINGS MARKET SIZE, BY TYPE, 2018–2025 (USD THOUSAND)
TABLE 97 ROW: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (TON)
TABLE 98 ROW: CONFORMAL COATINGS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD THOUSAND)
TABLE 99 INVESTMENT & EXPANSION, 2016–2020
TABLE 100 MERGER & ACQUISITION, 2016–2020
TABLE 101 NEW PRODUCT LAUNCH, 2016–2020
TABLE 102 CONFORMAL COATING CUSTOMERS (PCB MAKERS AND ASSEMBLERS)
TABLE 103 CONFORMAL COATING CUSTOMERS (EMS AND PCB ASSEMBLY COMPANIES)
LIST OF FIGURES (32 Figures)
FIGURE 1 MARKET SEGMENTATION
FIGURE 2 CONFORMAL COATINGS MARKET: RESEARCH DESIGN
FIGURE 3 MARKET SIZE ESTIMATION: BASED ON GLOBAL PCB PRODUCTION
FIGURE 4 MARKET SIZE ESTIMATION: BASED ON THE PCB REVENUES
FIGURE 5 CONFORMAL COATINGS MARKET: DATA TRIANGULATION
FIGURE 6 AUTOMOTIVE ACCOUNTED FOR THE LARGEST SHARE IN THE CONFORMAL COATINGS MARKET IN 2019
FIGURE 7 ACRYLIC TO BE THE LARGEST TYPE SEGMENT DURING THE FORECAST PERIOD
FIGURE 8 APAC TO BE THE FASTEST-RECOVERING MARKET FOR CONFORMAL COATINGS DURING THE FORECAST PERIOD
FIGURE 9 EMERGING ECONOMIES TO OFFER LUCRATIVE RECOVERY OPPORTUNITIES BETWEEN 2020 AND 2025
FIGURE 10 AUTOMOTIVE SEGMENT ACCOUNTED FOR LARGEST SHARE OF THE MARKET
FIGURE 11 TAIWAN TO RECOVER AT THE HIGHEST RATE DURING THE FORECAST PERIOD
FIGURE 12 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE CONFORMAL COATINGS MARKET
FIGURE 13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 14 PRICE TREND ANALYSIS: SIGNIFICANT VARIATION IN PRICES BASED ON APPLICATIONS
FIGURE 15 LOCKDOWN SITUATION OF AUTO OEM COMPANIES ACROSS THE WORLD (FEBRUARY 2020-MAY 2020)
FIGURE 16 ACRYLIC WAS THE LARGEST TYPE SEGMENT IN CONFORMAL COATINGS MARKET, 2019 (USD THOUSAND)
FIGURE 17 AUTOMOTIVE IS THE LARGEST END-USE INDUSTRY OF CONFORMAL COATINGS (USD THOUSAND)
FIGURE 18 APAC TO DOMINATE THE CONFORMAL COATING MARKET
FIGURE 19 NORTH AMERICA: CONFORMAL COATINGS MARKET SNAPSHOT
FIGURE 20 APAC: CONFORMAL COATING MARKET SNAPSHOT
FIGURE 21 COMPANIES MAJORLY ADOPTED INORGANIC GROWTH STRATEGIES BETWEEN 2016 TO 2020
FIGURE 22 TOP 6 PLAYERS ACCOUNTED FOR THE MAJOR SHARE OF THE MARKET (2019)
FIGURE 23 HENKEL AG: COMPANY SNAPSHOT
FIGURE 24 ILLINOIS TOOL WORKS: COMPANY SNAPSHOT
FIGURE 25 SHIN-ETSU CHEMICAL CO. LTD: COMPANY SNAPSHOT
FIGURE 26 DOW: COMPANY SNAPSHOT
FIGURE 27 H.B. FULLER: COMPANY SNAPSHOT
FIGURE 28 CHASE CORPORATION: COMPANY SNAPSHOT
FIGURE 29 ELECTROLUBE: COMPANY SNAPSHOT
FIGURE 30 DYMAX CORPORATION: COMPANY SNAPSHOT
FIGURE 31 MG CHEMICALS: COMPANY SNAPSHOT
FIGURE 32 SPECIALTY COATING SYSTEM: COMPANY SNAPSHOT
The study involves four major activities in estimating the current market size of conformal coating. Exhaustive secondary research was done to collect information related to the conformal coating market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The conformal coating market comprises several stakeholders, such as raw material suppliers, technology developers, derivative manufacturers, and regulatory organizations in the supply chain. The development of application usage characterizes the demand side of this market. The supply side is characterized by advancements in technology and diverse application segments. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Interviews:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the size of the global conformal coatings market and estimate the sizes of various other dependent submarkets. The research methodology used to estimate the market size included the following steps:
- The key players in the industry were identified through extensive secondary research.
- The supply chain of the industry and market size, in terms of value and volume, were determined through primary and secondary research.
- All percentage split and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of the key industry players, along with extensive interviews with key officials, such as directors and marketing executives.
Data Triangulation
After arriving at the overall market size from the process explained above, the total market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable. To complete the overall market estimation process and arrive at the exact statistics for all segments and sub-segments, the data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market was validated using both the top-down and bottom-up approaches.
Report Objectives
- To define, describe, and forecast the market size of conformal coating, in terms of value and volume
- To provide information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
- To analyze and forecast the conformal coating market size based on end-use and type.
- To forecast the market size of different segments with respect to four regions, namely, APAC, Europe, North America, and Rest of World.
- To forecast the conformal coating market size of different segments with respect to key countries of each region
- To analyze the opportunities in the market for stakeholders by identifying its high-growth segments
- To strategically profile the key players and comprehensively analyze their growth strategies
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies. The following customization options are available for the report:
Regional Analysis:
- Country-level analysis of the conformal coating market
Company Information:
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Conformal Coating Market