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
[117 Pages Report] The Conformal coatings market is estimated to be USD 977 million in 2020 and is expected to reach USD 1,265 million by 2025 at CAGR of 5.3%. Conformal coatings are a type of protective coatings of 25-75΅m thickness, which are applied to printed circuit boards (PCBs) and other electronic components to protect them from harsh environments such as dust, solvents, moisture, humidity, and high temperature. Conformal coatings increase the operational performance of PCBs assemblies by maintaining long-term surface insulation.
Parylene conformal coating is the second-fastest-growing type for conformal coating.
Parylene conformal coating is a unique type of coating as it is created at room temperature and is applied by vapour phase deposition. These coatings offer very high dielectric strength, superior resistance to moisture, solvent and extreme temperature. As propylene 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.
For the reasons mentioned above Parylene is widely aerospace & defense, and to some extent in the medical industry as well. Parylene is biocompatible, non-toxic, extremely thin, and pinhole-free.
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.
North America is expected to be the second-largest market for conformal coating during the forecast period.
North America is projected to be the second-largest market in the overall market. The conformal coating market in the region will be driven by the PCB demand from the electric vehicle (EV) manufacturers. But in recent years, PCB manufacturers are looking to capture the aerospace and defense industry which will create opportunities for conformal coatings as this PCB should be protected for them to work in full capacity during operations.
Key Market Players
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).
Scope of the report
|
Report Metric |
Details |
|
Years Considered |
2018 - 2025 |
|
Base year |
2019 |
|
Forecast period |
20202025 |
|
Units Considered |
Value (USD Thousand) and Volume (Ton) |
|
Segments |
Type, End-Use and Region |
|
Regions |
APAC, Europe, North America and Rest of World |
|
Companies |
Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemicals (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemicals (Canada) and Specialty Coatings System (US) are the ten key players covered. |
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
Key questions addressed by the report
- What was the conformal coating market size in 2019?
- What are the global conformal coating market trends?
- Will the market witnessed an increase or decline in demand for conformal coating in the near future?
- What were the revenue pockets of conformal coating in 2019?
- Who are the key players in the global conformal coatings market?
Frequently Asked Questions (FAQ):
What is the importance of conformal coatings?
What is the major end-use industry for conformal coatings?
What are the different types of conformal coatings available in the market?
What are the factors driving the growth of the conformal coatings market?
Are there any restraints faced by the players in the conformal coating market?
What are the upcoming opportunities in the conformal coatings market?
Who are the major players in the conformal coating market?
What are the factors leading to the final price of conformal coatings?
How consolidated is the conformal coatings industry?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Inclusions and Exclusions for the 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. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 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
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 29)
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 Insights
5 Market Overview (Page No. - 31)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Base of PCB Manufacturing
5.2.1.2 Increasing Demand From High-End Applications
5.2.1.3 Large Scale Demand 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
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
5.2.4 Challenges
5.2.4.1 Price Pressure on Conformal Coating Manufacturers
5.3 Porters 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 Conformal Coating Standards
5.5 YC, YCC Drivers
6 Conformal Coatings Market, By Type (Page No. - 41)
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 Market
6.1.3 Epoxy
6.1.3.1 Difficulty in Reworkabilty Hampering Its Growth
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 Market
6.1.6 Others
7 Conformal Coatings Market, By End-Use Industry (Page No. - 49)
7.1 Introduction
7.1.1 Automotive
7.1.1.1 Next-Gen Automotive Industry Landscape Will Drive 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. - 59)
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 Market
8.2.2 Canada
8.2.2.1 Parylene to Be the Fastest-Growing Conformal Coating
8.2.3 Mexico
8.2.3.1 PCB Demand From Automobile Manufactures to Drive the Demand
8.3 APAC
8.3.1 China
8.3.1.1 Growing PCB Production to Drive 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 Market
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 Growth 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. - 88)
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 Company Profiles (Page No. - 91)
(Business Overview, Products Offered, Recent Developments, Winning Imperatives, Current Focus and Strategy, Right to Win)*
10.1 Henkel AG
10.2 Illinois Tool Works
10.3 Shin-Etsu Chemical Co. LTD.
10.4 DOW
10.5 H.B. Fuller
10.6 Chase Corporation
10.7 Electrolube
10.8 Dymax Corporation
10.9 MG Chemicals
10.10 Specialty Coating Systems
10.11 Others
10.11.1 Altana AG
10.11.2 CHT UK Bridgwater
10.11.3 CSL Silicones Inc
10.11.4 Europlasma NV
10.11.5 Peters Group
10.11.6 Conins Pune
10.11.7 Industrialex Manufacturing
10.11.8 AI Technologies Inc
10.11.9 Master Bond Inc
10.11.10 John C Dolph
*Details on Business Overview, Products Offered, Recent Developments, Winning Imperatives, Current Focus and Strategy, Right to Win Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 112)
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets Subscription Portal
11.3 Available Customizations
11.4 Related Reports
11.5 Author Details
List of Tables (89 Tables)
Table 1 Standards and Specification Pertaining to the Conformal Coatings
Table 2 Change in Trends for Your Client (YC) and Your Clients Client (YCC)
Table 3 Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 4 Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 5 Silicone Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 6 Silicone Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 7 Acrylic Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 8 Acrylic Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 9 Epoxy Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 10 Epoxy Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 11 Urethane Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 12 Urethane Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 13 Parylene Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 14 Parylene Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 15 Other Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 16 Other Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 17 Key PCB Manufacturers for the Automotive Industry
Table 18 Conformal Coatings Market Size in Automotive, By Region, 20182025 (Ton)
Table 19 Conformal Coatings Market Size in Automotive, By Region, 20182025 (USD Thousand)
Table 20 Key PCB Manufacturers for the Consumer Electronics Industry
Table 21 Conformal Coatings Market Size in Electronics, By Region, 20182025 (Ton)
Table 22 Conformal Coatings Market Size in Electronics, By Region, 20182025 (USD Thousand)
Table 23 Conformal Coatings Market Size in Aerospace & Defense, By Region, 20182025 (Ton)
Table 24 Conformal Coatings Market Size in Aerospace & Defense, By Region, 20182025, (USD Thousand)
Table 25 Conformal Coatings Market Size in Industrial, By Region, 20182025 (Ton)
Table 26 Conformal Coatings Market Size in Industrial, By Region, 20182025 (USD Thousand)
Table 27 Conformal Coatings Market Size in Telecommunication, By Region, 20182025 (Ton)
Table 28 Conformal Coatings Market Size in Telecommunication, By Region, 20182025 (USD Thousand)
Table 29 Conformal Coatings Market Size in Other End-Use Industries, By Region, 20182025 (Ton)
Table 30 Conformal Coatings Market Size in Other End-Use Industries, By Region, 20182025 (USD Thousand)
Table 31 Conformal Coatings Market Size, By Region, 20182025 (Ton)
Table 32 Conformal Coatings Market Size, By Region, 20182025 (USD Thousand)
Table 33 North America: Conformal Coatings Market Size, By Country, 20182025 (Ton)
Table 34 North America: Conformal Coatings Market Size, By Country, 20182025 (USD Thousand)
Table 35 North America: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 36 North America: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 37 North America: Conformal Coatings Market Size, By End-Use Industry, 20182025 (Ton)
Table 38 North America: Conformal Coatings Market Size, By End-Use Industry, 20182025 (USD Thousand)
Table 39 US: Conformal Coatings Market Size, By Type, 2018-2025 (Ton)
Table 40 US: Conformal Coatings Market Size, By Type, 2018-2025 (USD Thousand)
Table 41 Canada: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 42 Canada: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 43 Mexico: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 44 Mexico: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 45 APAC: Conformal Coating Market Size, By Country, 20182025 (Ton)
Table 46 APAC: Conformal Coating Market Size, By Country, 20182025 (USD Thousand)
Table 47 APAC: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 48 APAC: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 49 APAC: Conformal Coating Market Size, By End-Use Industry, 20182025 (Ton)
Table 50 APAC: Conformal Coating Market Size, By End-Use Industry, 20182025 (USD Thousand)
Table 51 China: Conformal Coating Market, By Type, 20182025 (Ton)
Table 52 China: Conformal Coating Market, By Type, 20182025 (USD Thousand)
Table 53 Taiwan: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 54 Taiwan: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 55 Japan: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 56 Japan: Conformal Coating Market, By Type, 20182025 (USD Thousand)
Table 57 South Korea: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 58 South Korea: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 59 Vietnam: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 60 Vietnam: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 61 India: Conformal Coating Market, By Type, 20182025 (Ton)
Table 62 India: Conformal Coating Market, By Type, 20182025 (USD Thousand)
Table 63 Thailand: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 64 Thailand: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 65 Rest of APAC: Conformal Coating Market Size, By Type, 20182025 (Ton)
Table 66 Rest of APAC: Conformal Coating Market Size, By Type, 20182025 (USD Thousand)
Table 67 Europe: Conformal Coatings Market Size, By Country, 20182025 (Ton)
Table 68 Europe: Conformal Coatings Market Size, By Country, 20182025 (USD Thousand)
Table 69 Europe: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 70 Europe: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 71 Europe: Conformal Coatings Market Size, By End-Use Industry, 20182025 (Ton)
Table 72 Europe: Conformal Coatings Market Size, By End-Use Industry, 20182025 (USD Thousand)
Table 73 Germany: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 74 Germany: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 75 France: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 76 France: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 77 Russia: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 78 Russia: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 79 UK: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 80 UK: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 81 Rest of Europe.: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 82 Rest of Europe.: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 83 RoW: Conformal Coatings Market Size, By Type, 20182025 (Ton)
Table 84 RoW: Conformal Coatings Market Size, By Type, 20182025 (USD Thousand)
Table 85 RoW: Conformal Coatings Market Size, By End-Use Industry, 20182025 (Ton)
Table 86 RoW: Conformal Coatings Market Size, By End-Use Industry, 20182025 (USD Thousand)
Table 87 Investment & Expansion, 20162020
Table 88 Merger & Acquisition, 20162020
Table 89 New Product Launch, 20162020
List of Figures (26 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-Growing Market for Conformal Coatings During the Forecast Period
Figure 9 Emerging Economies to Offer Lucrative Growth Opportunities Between 2020 and 2025
Figure 10 Automotive Segment Accounted for Largest Share of the Market
Figure 11 India to Grow at the Highest Rate During the Forecast Period
Figure 12 Drivers, Restraints, Opportunities, and Challenges in the Conformal Coatings Market
Figure 13 Porters Five Forces Analysis
Figure 14 Acrylic Was the Largest Type Segment in Conformal Coatings Market, 2019 (USD Thousand)
Figure 15 Automotive is the Largest End-Use Industry of Conformal Coatings (Ton)
Figure 16 APAC to Dominate the Conformal Coating Market
Figure 17 North America: Conformal Coatings Market Snapshot
Figure 18 APAC: Conformal Coating Market Snapshot
Figure 19 Companies Majorly Adopted Inorganic Growth Strategies Between 2016 to 2020
Figure 20 Top 5 Players Accounted for the Major Share of the Market
Figure 21 Henkel AG: Company Snapshot
Figure 22 Illinois Tool Works: Company Snapshot
Figure 23 Shin-Etsu Chemical Co. LTD: Company Snapshot
Figure 24 Dow: Company Snapshot
Figure 25 H.B. Fuller: Company Snapshot
Figure 26 Chase Corporation: 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.
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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
The market is further analyzed for the key countries in each of these regions.
Available Customizations:
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Regional Analysis:
- Country-level analysis of the conformal coating market
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- Detailed analysis and profiles of additional market players
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