According to the new market research report "Electronics Conformal Coating Market by Material (Acrylic, Silicone, Parylene, Urethane/Polyurethane, Epoxy), Equipment (Curing, Coating), Method (Brush Coating, Dipping), Application and Geography - Global Forecasts to 2020", the Electronics Conformal Coating Market is estimated to reach USD 2.41 Billion by 2020, at a CAGR of 5.99% between 2015 and 2020. The increasing use of electronic components especially in automotive, and consumer electronics sector, and growing demand for highly reliable electronic devices/equipment are the major drivers for the above said market.
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Acrylic conformal coating material segment expected to lead the electronics conformal coating material market
The acrylic conformal coating is expected to lead the global conformal coating material market during the forecast period. This is owing to the fact that among all the materials it is the easiest to re-work on the acrylic material. Besides this, acrylic material is also easy to apply, has low cost, takes less time to cure, and provides good resistance from chemical, moisture, and abrasion.
Automotive electronics sector expected to hold the largest share in the electronics conformal coating material market
The automotive electronics application segment is expected to hold the largest share in the global conformal coating material market during the forecast period. Automotive manufacturers are working hard towards offering products of higher quality and reliability at a competitive price. The electronics in the automobile are usually placed in the areas where they are subjected to harsh working conditions, chemical, moisture, dust, and vibration. These factors necessitate the use of conformal coating on automotive electronics so that a protective layer can be added on electronic components to protect them from harsh environment, and thus increasing the reliability of the product.
APAC expected to hold the largest market share and witness rapid growth during forecast period
The APAC region held the largest share of the conformal coating material market in 2014, and it is expected to grow at the highest growth rate during the forecast period. The rapid growth of the automotive industry in this region, in addition to the growth of consumer electronics, and aerospace & defense sectors has contributed to the growth of the conformal coating material in the APAC region.
Major players in this 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).
This research report categorizes the global electronics conformal coating market based on materials, equipment, methods, applications, and regions. This report describes the drivers, restraints, opportunities, and challenges for the growth of the conformal coating market. The Porter’s Five Forces analysis has been included in the report with a description of each of its force and their respective impact on the conformal coating market.
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