The global Conformal Coating Market is estimated to reach nearly USD 16 billion by 2024. It stood at USD 9.7 billion in 2015. Demand from industries, such as automotive and consumer electronics can drive the market from 2016 to 2024 (forecast period).
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Conformal Coating Market Research Report - Industry Analysis, Size,
Share, Growth and Forecast to 2024 | Hexa Research
“Conformal Coating Market is estimated to reach nearly USD
16 billion by 2024.”
The Global Conformal Coating Market is estimated to attain close to USD 16 billion by 2024. It stood at USD 9.7
billion in 2015. Industries, such as automotives and consumer electronics can propel this market from 2016 to
2024 (forecast period).
Conformal coatings are thin polymeric films which protect electronic components against chemicals and various
other environmental effects. But these are used primarily on printed circuit boards (PCBs). Brush coating, spray
application coating, and conformal coating dipping are the various ways in which these coatings are used.
Selecting the right material for conformal coating can ensure the reliability of circuit boards in the long run.
Customization is the latest trend in the global industry. Companies these days develop 8-10 different versions
of a particular coating material to meet the demands of various industries. However, fluctuating prices of raw
materials may negatively influence market growth. Concerns regarding volatile organic compound (VOC)
content in conformal coatings can also hamper worldwide demand. Most industry players focus on novel
technologies to simplify the application procedure. They invest robustly in this area to reap long term benefits.
Technologies such as ultrasonic coatings, selective coatings, and selective needle dispensing may catapult
market demand over the forecast period.
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The global conformal coating market is segmented on the basis of products, end-users, and regions. Based on
products, the segments are parylene, urethane, silicone, epoxy, acrylic, and others. ‘Others’ consists of UV cure
coatings. Acrylic conformal coatings accounted for over 40% shares in global revenues in 2015. Superior surface
adhesion rate & moisture resistance exhibited by these coatings can fuel its demand over the next eight years.
Silicone coatings are projected to display a CAGR below 6% in the forthcoming years. This segment is propelled
by demand from manufacturing & industrial sectors.
End-users in the global conformal coating market are industrial, marine, consumer electronics, medical,
automotive & transportation, aerospace & defense, and others. ‘Others’ includes military and
telecommunications. Consumer electronics accounted for over 40% of overall market demand in 2015. Robust
demand for computers, laptops, smartphones, and other household electronics is expected to positively impact
The automotive & transportation segment could expand at a CAGR above 4% during the forecast period. It uses
conformal coatings to protect circuits from salt spray, brake fluid, and gasoline vapor in automobiles. They are
also used extensively in passenger compartment systems and under the hood systems.
On the basis of regions, the global conformal coating market is divided into North America, South America,
Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). With a revenue share exceeding 55%, APAC led
the worldwide industry in 2015. China is the most lucrative region in APAC because of low raw material & labor
costs. High disposable incomes and lifestyle changes in APAC could boost industries, such as consumer
electronics, aerospace, and medical. Such a trend may support the global market growth in the years ahead.
Key competitors operating in the global Conformal Coating Market are H. B. Fuller, Henkel AG & Co. KGaA,
Dymax Corporation, and Chase Corporation. As a means to reduce transportation costs, most of these players
procure raw materials directly from their local suppliers.
Common market expansion strategies adopted by companies are product innovation and strategic business
ventures. Dymax Corporation has launched a new conformal coating for PCBs and other electronic components.
The product named ‘Multi-Cure 9-20557’ has been developed to stick on difficult-to-wet components made
from silver or copper.
Related Category Market Reports @
Composite Coatings Market: - Composite Coatings are a mixture of two or more materials that protect
surfaces from corrosion.
Decorative Coatings Market:-Global market for decorative coatings is anticipated to witness high growth over
the forecast period owing to increase in the usage of the material in construction sector
Table of Content of Conformal Coating Market
1. Methodology & Scope
1.1 Research Methodology
1.1.1 Initial Data Exploration
1.1.2 Statistical Modeling and Forecast
1.1.3 Industry Insights and Validation
1.2 Research Scope & Assumptions
1.3 List of Data Sources
2. Executive Summary
2.1 Industry Summary of Conformal Coating Market
3. Industry Outlook
3.1 Conformal Coating Market Segmentation
3.2 Conformal Coating Market Size and Growth Prospects
3.3 Conformal Coating Market Dynamics
3.4 Key Opportunities Prioritized
3.5 Industry Analysis - Porter's
3.6 Market Share Analysis
3.7 Market PESTEL Analysis, 2016
4. Application Framework
4.1 Conformal Coating Market share by application, 2016 & 2024
5. Regional Outlook
5.1 North America
5.3 Asia Pacific
5.4 Latin America
5.5 MEA (Middle East and Africa)
5.6 RoW (Rest of the World)
6. Competitive Landscape
6.1 H. B. Fuller
6.1.1 Company Overview
6.1.2 Revenue Analysis
6.1.3 Product Benchmarking
6.1.4 Strategic Initiatives
6.2 Henkel AG & Co. KGaA
6.2.1 Company Overview
6.2.2 Revenue Analysis
6.2.3 Product Benchmarking
6.2.4 Strategic Initiatives
6.3 Dymax Corporation
6.3.1 Company Overview
6.3.2 Revenue Analysis
6.3.3 Product Benchmarking
6.3.4 Strategic Initiatives
6.4 Chase Corporation
6.4.1 Company Overview
6.4.2 Revenue Analysis
6.4.3 Product Benchmarking
6.4.4 Strategic Initiatives
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