Conformal coatings are available in various types such as, acrylics, epoxy, urethane, silicone, parylene, and others. The acrylics segment accounted for the largest market share, in terms of volume as well as value, followed by epoxy. Acrylic conformal coatings accounted for the largest share due to their inexpensive nature and easy-to-apply properties. The rising demand of environmental friendly or volatile organic compounds (VOCs)-free conformal coatings in countries such as Germany and France is expected to drive this market. New products such as Certonal FC-742 and Never Wet are gaining attention, which are likely to enhance the utilization and application areas of conformal coatings.
The market is driven by increasing demand for conformal coatings in emerging markets and high demand from the electronics, aerospace & defense, automotive & transportation, industrial, and marine industries. Asia-Pacific is projected to witness s strong growth in the future. Growth in this region can be attributed to high demand from emerging markets such as China and India.
Conformal coatings find applications in the following industries: automotive & transportation, manufacturing Industries, aerospace & defense, electronics, and marine industry. The electronics industry is estimated to be the largest end-use industry of conformal coatings. The growing electronic industry and the need for conformal coatings on PCBs for better performance in vulnerable environments have been the key drivers for the dominance of the electronic industry in the conformal coating market.
The global conformal coatings market is estimated to reach USD 12.28 Billion by 2021, registering a CAGR of 4.7%. The market is driven by increasing demand for conformal coatings in emerging markets and high demand from printed circuit boards in electronics and automotive & transportation industries. Conformal coatings have unique properties, such as high resistance to dust, moisture, salts, corrosion, high temperature, and humidity and they increase the reliability of electronic equipment by 3 to 5 years.
The report “Conformal Coatings Market by Type (Acrylics, Epoxy, Urethane, Silicone, Parylene, and Others), by End-Use Industry (Automotive & Transportation, Electronics, Aerospace & Defense, Industrial, Marine, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Global Trends & Forecasts to 2021“.
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