COVD-19 impact on the Conformal Coating Market

 

The Conformal coatings market is estimated to be USD 807 million in 2020 and is expected to reach USD 1,081 million by 2025 at CAGR of 6.0%. The growth of the conformal coatings market is attributed to the increasing number PCB manufacturers and demand from high end applications that require conformal coatings.

To know about the assumptions considered for the study download the pdf brochure

The conformal coating market is impacted by the COVID 19, due to the disruption caused by it in the end-use industries globally:

• The automobile industry is heading toward a year of significant decline as a result of extended lockdowns, impact in production, and fall in consumer demand. Sales volumes of passenger and commercial vehicles are projected to drop to levels not seen in over a decade. The automotive industry is struggling with an abrupt and widespread stoppage of economic activity, as workers are advised to stay home, supply chains grind to a halt, and factories are closed. Lockdowns prohibiting the movement of people and the sudden stoppage of economic activity has caused a severe contraction in sectoral output and gross domestic product (GDP). It is estimated that factory closures in Europe and North America have caused some millions of passenger vehicles to be removed from production schedules. These production declines have a cascading effect on OEMs and material suppliers, which will also affect the demand for conformal coatings.
• Amid the COVID-19 pandemic, more than 70% of the global aviation fleet is grounded. About 27,000 aircraft were in service at the beginning of 2020. Currently, less than 7,500 are still flying. The number of fleets is unlikely to recover to the previous levels until the end of 2022 at the earliest. Lockdowns have resulted in reduced passenger traffic and a significant decline in the revenue of airlines. According to the International Air Transport Association (IATA), global airline passenger revenues will drop by USD 314 billion in 2020, a 55% decline compared to 2019. The pandemic has had a significant impact on aircraft manufacturing as well. For instance, Airbus – one of the largest commercial aircraft manufacturing companies globally, has reduced its aircraft production rates by roughly one-third due to the COVID-19 pandemic. Boeing has also reported a first-quarter loss of USD 641 million. This has significantly affected the use of conformal coatings used in new aircraft production, as well as MRO operations

APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

The key companies in the conformal coatings 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).

Don’t miss out on business opportunities in Conformal Coating Market Speak to our analyst and gain crucial industry insights that will help your business grow.

Growing demand for fire-resistant coatings in renovation projects drives the market

The fire-resistant coatings market was USD 933 million in 2020 and is projected to reach USD 1,106 million by 2025, at a CAGR of 3.5% from 2020. Increasing awareness and emphasis on safety measures and preference for lightweight materials, which require additional protection, are expected to drive the market. The stringent regulations and norms are also supporting market growth, as the newly constructed buildings and manufacturing plants need to meet the required safety and fire resistance standards. Increasing urbanization and the growing building & construction industry are expected to provide growth opportunities in the market during the forecast period. The use of low-cost cementitious coatings in developing countries and in dry environments is expected to support market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95861153

Fire-resistant coatings are not only used in new construction projects but also in the maintenance of old projects and buildings for commercial and residential purposes. Apart from protection against fires, these coatings provide resistance against weather and corrosion. They require less maintenance and also provide extended service life. People are becoming aware of their benefits and are including these coatings in both renovation and new construction projects. As per the European Union, around 35% of the buildings in Europe are over 50 years old, and only 0.4–1.2% of the buildings are renovated each year. With increasing focus on clean energy and building safety, stricter regulations are in effect to renovate older buildings. This factor can potentially increase the demand for fire-resistant coatings across the globe.

The building & construction industry is estimated to have the largest share in the fire-resistant coatings market

The building & construction industry is estimated to account for the largest share of the fire-resistant coatings market in 2019, closely followed by the industrial segment in terms of value. Increasing construction activities, along with a rise in the number of manufacturing facilities in the emerging economies in APAC and MEA, are expected to drive the market demand during the forecast period.

Europe projected to account for the largest share of the fire-resistant coatings market

Europe accounted for the largest share of the global fire-resistant coatings market in 2019. The growth of the fire-resistant coatings market in this region is mainly attributed to stringent government regulations, an industrial initiative for sustainable development, and a strong emphasis on protection against fire. Moreover, the practice of constructing green buildings and adopting green coatings offers many opportunities for the growth of the market in the region. The European market is mainly dominated by the EU-5 countries, especially Germany and the UK.

The leading players in the fire-resistant coatings market include AkzoNobel (Netherlands), PPG (US), Jotun (Norway), Sherwin-Williams (US), and Hempel (Denmark). The key industry players are adopting strategies to expand their presence and enhance their product portfolio through investments in R&D. For example, in 2017, Hempel invested in an R&D center solely for fire-resistant coatings in Spain. This expansion will help the company comply with the ever-changing demand from the construction industry and develop high efficacy products.

Read More: https://www.marketsandmarkets.com/ResearchInsight/fire-resistant-coating-market.asp

Conformal Coating Market worth $1,265 million by 2025, at CAGR of 5.3%

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 25-75µm 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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=216347388

“Automotive is the largest end-use segment in the overall conformal coatings market.”

The automotive industry has grown at a fast pace in the last decade, which led to the rapid evolution and increased consumption of electronics used in the vehicles. Currently, an average mid-range vehicle is loaded with technological features such as lane sensors, adaptive cruise control, in-car entertainment, and navigation. Also, the emergence of electric vehicle (EV), connected cars, and autonomous vehicles have resulted in a rapid surge in the advancement of electronics installed in these vehicles. From the industry point of view, the challenge is to protect these huge volumes PCBs and ICs used in the electronics system over a long period while meeting the specifications required by the automotive industry. This creates an attractive opportunity for conformal coatings manufacturers in the automotive and transportation industry. It is also the go-to-market for PCB manufacturers.

“Silicone conformal coating is the fastest-growing type for conformal coating.”

Various industries require coatings for high-temperature applications. Silicone conformal coatings are widely used for such applications, as they have the ability to withstand severe temperature conditions for an extended period. These coatings are widely used in under-the-hood automotive components. They can also be used in PCBs to protect them from damage and provide electrical insulation in hot and cold environments. Silicone coatings also protect electronic equipment from the extremely high as well as low temperatures. Silicone-based conformal coatings are manufactured as single-component compounds and also provides excellent humidity, corrosion and chemical resistance. However, these coatings are not abrasion resistant because of its rubbery nature, but this makes it resilient against vibrational stresses.

APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

The key companies in the conformal coatings 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).

Request For Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=216347388

High Performance Fluoropolymer Market – Global Opportunity, Growth Analysis up to 2024

The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=497

PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.

Scope of the Report:

Report Metric	Details
Base year considered	2018
Forecast period	2019–2024
Units considered	Volume (Kiloton) and Value (USD)
Segments	Type, Form, End-use Industry, and Region
Regions	North America, APAC, Europe, and RoW
Companies	The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd (China). Total 10 major players covered.

This research report categorizes the HPF market based on type, form, end-use industry, and region.

By Type:

• PTFE
• FEP
• PFA/MFA
• ETFE
• Others (Includes ECTFE and PCTFE)

By Form

• Coatings
• Films & Membranes
• Tubing
• Others (Includes wire & cable, mechanical components & parts, additives, and liners)

By End-use Industry

• Industrial Processing
• Chemical processing
• Oil & Gas
• Power Plants
• Water Treatment
• Food Processing
• Transportation
• Automotive
• Aviation
• Electrical & Electronics
• Telecommunication
• Semiconductors
• Electronic Components
• Defense Electronics
• Medical
• Medical Devices
• Pharmaceutical & Biotechnology
• Others
• Building & Construction
• Consumer Household

By Region

• North America
• APAC
• Europe
• RoW

The HPF market has been further analyzed based on key countries in each of these regions.

APAC is expected to be the fastest-growing market for HPF, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.

Polyurethane Additives Market by End-Use Industry (Automotive, Building & Construction, and Bedding & Furniture), and Region – Global Forecast to 2021

The Polyurethane Additives Market is projected to reach USD 2.75 billion by 2021, at a CAGR of 6.3%, in terms of value from 2016 to 2021. The polyurethane additives market is driven by increasing usage of polyurethane in the construction and automotive industries.The report includes analysis of the polyurethane additive market by region, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Download the PDF Brochure for more insights @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121317889

Building & construction expected to dominate the market for PU additive

The building & construction industry is projected to drive the polyurethane additive market, aided by increased demand for insulation applications for maintaining optimum temperature and reducing the energy cost. Automotive is another end-use industry where polyurethane is being used for vehicle interiors as well as exteriors. The use of polyurethane helps reduce the weight of vehicles and enhance fuel efficiency.

Polyurethane additives are used mainly in flexible foam, rigid foam, coatings, adhesives & sealants, elastomers, and binders. Flexible foams are primarily used in bedding & furniture, and automotive & transportation industries.

North America, Europe, Asia-Pacific, Middle East & Africa, and South America are considered the main regions in the polyurethane additives market report. Asia-Pacific region is dominant in the polyurethane additive market. The rising demand for polyurethane additives in this region is mainly driven by its increased use in building & construction industries. Europe is the second-largest consumer of polyurethane additives, globally. The market in this region is mainly driven by the growing opportunities from transportation and construction industries. The Middle East & Africa is the second-fastest-growing market, due to the increased demand for rigid foam for insulation purposes in the region.  

Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), and Huntsman International LLC (U.S.) are the leading companies operating in this market. These companies are expected to account for a significant market share in the near future. Entering into related industries and targeting new markets will enable polyurethane additive manufacturers to overcome the effects of the volatile economy, leading to the diversified business portfolio and increase revenue. The other main manufacturers of polyurethane additives are Tosoh Corporation (Japan), Albemarle Corporation (U.S.), Eastman Chemical Company (U.S.), Kao Corporation(Japan) ), Evonik Industries AG (Germany), Air Products and Chemicals, Inc. (U.S.), and Momentive Performance Materials Inc. (U.S.).