Conformal Coatings Market Report

Market Insights

Conformal Coating market is likely to grow from USD 963.47 million in 2021 to USD 1451.39 million by 2028 at a CAGR of 5.94% during the forecast period of 2022-2028.

What is conformal coating?

Conformal coating is type of protective coating which is applied to PCBs and other electronic components to protect them from harsh operating environments such as dust, solvents, moisture, humidity, and high temperature. It usually has a thickness of 25-75µm. Conformal coatings can be categorized on the basis of type into acrylic, silicone, epoxy, urethane, parylene, and others. They are widely used in industries such as consumer electronics, automotive, aerospace & defense, industrial, telecommunications, and others.

Market Drivers

The prime factor that is driving the conformal coating market is its growing demand from the global PCB industry.

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Segments' Analysis

By Type

Based on the type, the market is segmented as acrylic, silicone, epoxy, urethane, parylene, and others. Acrylic coating dominated the market in 2021 accounting more than 45% market share and is expected to maintain its position during the forecast period. Acrylic coatings are widely used in consumer electronics, aerospace & defense, and automotive industries, leading to its dominance in the global conformal coatings market.

By End-Use Industry Type

Based on the end-use industry type, the conformal coating market is segmented as consumer electronics, automotive, aerospace & defense, industrial, telecommunication, and others. The consumer electronics segment held the largest share of more than 45% of the market in 2021 and is also expected to witness a healthy growth during the forecast period. Significant economic development in the emerging economies along with the growing disposable income of consumer is the major factor behind the dominance of the consumer electronics segment.

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By Region

In terms of regions, Asia-pacific accounted for more than 52% share in 2021 and is expected to remain the largest market during the forecast period, mainly driven by the USA. Asia-Pacific is estimated to be the fastest-growing market for conformal coatings during the forecast period. China, Japan, South Korea, Taiwan, and India are the key countries driving the growth of the region’s market. Significant economic development in the region is paving the path of transportation, electricals & electronics, medical, and industrial sectors, leading to a higher demand for conformal coating in the region.

Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The conformal coating market is segmented into the following categories. 

By Type:

• Acrylic
• Silicone
• Epoxy
• Urethane
• Parylene
• Others

By End-Use Industry Type:

• Consumer Electronics
• Automotive
• Aerospace & Defense
• Industrial
• Telecommunication
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the major suppliers of conformal coatings are-

• Henkel AG & Company
• KGaA
• Illinois Tool Work
• Shin-Etsu Chemical Co., Ltd.
• The Dow Chemical Company
• H.B. Fuller Company
• Chase Corporation
• Electrolube Limited
• Dymax Corporation
• MG Chemical
• Specialty Coating System

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com