Attractive Opportunities In Silane Coupling Agents Market

The global silane coupling agents market size is expected to grow from USD 1.2 billion in 2021 to USD 1.6 billion by 2026, at a CAGR of 5.5% during the forecast period. Thedriving factors for the silane coupling agents market is increasing penetration of silane coupling agents in the automotive & transportation, building & construction industry, energy & chemical segment, and electrical & electronics industry in the emerging economies, such as India, China, and the Middle-East, Thailand, Indonesia, Brazil, and Argentina.

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Rubber & Plastics is expected to be the fastest-growing application in the Silane coupling agents market

Rubber & plastics is the fastest-growing application segment in the Silane coupling agents market. The growth in this segment is attributed to the growing use of coupling agents in tire manufacturing. The use of silane coupling agents makes tires strong and efficient. It accounted for a share of about 36.0% of the silane coupling agents market, in terms of value, in 2020.

APAC is expected to hold the largest market share in the global silane coupling agents market

APAC accounted for the largest share of the Silane coupling agents market in 2020. The market in the region is growing because of increased foreign investments because of cheap labor and availability of raw materials. The demand for silane coupling agents in APAC is expected to increase in the next five years, due to many ongoing and upcoming building & construction projects, and industrial projects in Southeast Asian countries. High economic growth and heavy investments in these applications play a key role in driving the silane coupling agents market.

Dow (US), Wacker Chemie AG (Germany), Evonik Industries (Germany), Momentive (US), and Shin-Etsu Chemical Co. Ltd. (Japan), are the leading silane coupling agents manufacturers, globally.

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Emerging applications in pharmaceutical & healthcare industries drives the Market growth of Silane Coupling Agents

The global silane coupling agents market size is estimated to grow from USD 1.2 billion in 2021 to USD 1.6 billion by 2026, at a CAGR of 5.5% during the forecast period. The driving factors for the silane coupling agents market is increasing penetration of silane coupling agents in the automotive & transportation, building & construction industry, energy & chemical segment, and electrical & electronics industry in the emerging economies, such as India, China, and the Middle-East, Thailand, Indonesia, Brazil, and Argentina.

Emerging applications in the pharmaceutical and healthcare industries are expected to create new opportunities for silane coupling agent manufacturers. Silane coupling agents are widely used in dental fields. One of the most important aspects in the field of dentistry is adhesion. Adhesion can be enhanced through different mechanisms, most commonly by chemical and mechanical modifications of dental material surfaces. Chemical adhesion utilizes primers or bonding agents containing coupling agents. Universal primers which are (mainly organophosphate-based monomers) and silane coupling agents are the most effective and most widely used for unifying dissimilar materials.

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Other than improving adhesion, silanes have many other applications in dentistry. They have been found also to enhance the mechanical properties of materials either by adhesion or by becoming a constituent of dental materials itself. Modern-day dental resin composites are composed of resin matrix, free radical initiator, inhibitor, filler particles (lithium aluminosilicate, silica, or boron silicate), and silane coupling agents. Silane coupling agent is used to ensure durable bonding between the filler particles and the resin matrix. Development of new silane coupling agents, their optimization, and surface treatment methods are in progress to address the long-term resin bond durability. This development in turn will increase the consumption of silane coupling agents in the future. Development of next-generation antibiotics will also increase the need for silane coupling agents by pharmaceutical manufacturers.

APAC accounted for the largest share of the Silane coupling agents market in 2020. The market in the region is growing because of increased foreign investments because of cheap labor and availability of raw materials. The APAC silane coupling agents market has been growing rapidly over the past few years with the rising income level of the middle-class population and increasing government investments, especially in the automotive & transportation and building & construction sectors.

Silane coupling agents is a diversified and competitive market with a large number of global players and few regional and local players. Dow (US), Wacker Chemie AG (Germany), Evonik Industries (Germany), Momentive (US), Shin-Etsu Chemical Co. Ltd. (Japan), are some of the key players in the market.

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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.

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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).

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Dow (US) and Shin-Etsu Chemical Co. Ltd. (Japan) are the Key Players in the Silane Coupling Agents Market

The global silane coupling agents market size is estimated to grow from USD 1.2 billion in 2021 to USD 1.6 billion by 2026, at a CAGR of 5.5% during the forecast period. The driving factors for the silane coupling agents market is increasing penetration of silane coupling agents in the automotive & transportation, building & construction industry, energy & chemical segment, and electrical & electronics industry in the emerging economies, such as India, China, and the Middle-East, Thailand, Indonesia, Brazil, and Argentina.

APAC accounted for the largest share of the Silane coupling agents market in 2020. The market in the region is growing because of increased foreign investments because of cheap labor and availability of raw materials. The demand for silane coupling agents in APAC is expected to increase in the next five years, due to many ongoing and upcoming building & construction projects, and industrial projects in Southeast Asian countries. High economic growth and heavy investments in these applications play a key role in driving the silane coupling agents market.

Dow (US), Wacker Chemie AG (Germany), Evonik Industries AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Momentive (US), Gelest Inc. (US), Nanjing Union Silicon Chemical Co., Ltd (China), 3M (US), and WD Silicones (China), among others, are the leading silane coupling agents manufacturers, globally. These companies adopted new product launch, expansion, agreements & contracts and merger & acquisition, as their key growth strategies between 2016 and 2021 to earn a competitive advantage in the silane coupling agents market.

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Dow is one of the largest player in the silane coupling agents market. It operates through Performance Materials & Coatings, Industrial Intermediates & Infrastructure, and Packaging & Specialty Plastics business segments. The product list involves acrylics, ethylene vinyl acetate (EVA), methacrylic acid copolymer resins, polyethylene (PE), high-density polyethylene (HDPE), ethylene dichloride (EDC), methylene diphenyl diisocyanate (MDI), among others. The company has strong financial backgrounds and geographical presence with 106 manufacturing sites in 31 countries.

Shin-Etsu chemical Co. Ltd. is the second-largest player of the silane coupling agents market, globally. The company strives to maintain and further strengthen its leadership position in the silane coupling agents market by continuously expanding its business and launching new products that meet the increasing global demand. In September 2018, Shin-Etsu Chemical decided to make a USD 900 million facility investment in its silicones business. It will expand production capacity both in Japan and globally for silicone products.

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Increasing demand from high-end applications requiring conformal coating

Conformal coating is highly preferred in PCBs, which are used in high-end applications in aerospace & defense and automotive industries. The aerospace & defense industry uses conformal coatings in space shuttle controls & systems, aircraft communications & controls, satellite systems, robotic cable assemblies, lightening protection chassis, and other similar technologies.

For the aerospace & defense industry, reliability on conformal coatings performance is the overriding issue. Conformal coatings in aerospace electronics must perform in extreme environments and hazardous situations. There is a difference in the electronics used in the aerospace & defense industry and the ones used in other industries. Electronics used in this industry are smaller in size that reduces the weight of the components and increases their functionality as well as performance. New technologies need to be thoroughly tested to check their reliability before they can be used in critical applications.

PCBs used in the aerospace & defense sector have the tolerance levels of ±0.0005 on etched features. Conformal coatings should also meet specific aerospace standards such as RTCA-DO-160 and MIL-STD-810 in order to get reliability tag from end users. These factors prove the increased operational parameters for electronic components in the aerospace & defense industry. The growth in this industry is likely to slow down due to the COVID-19 pandemic since air travel has been restricted around the world. Almost every airline has grounded a majority of its aircraft and is deferring orders for new ones as well. Aircraft manufacturing, too was halted due to complete lockdowns in countries of North America and Europe, which are the hubs of aircraft manufacturing.

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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).

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Increased demand for silane coupling agents in paints & coatings

The Silane coupling agents are used in paints and coatings to enhance adhesion. Silanes help enhance UV and thermal stability, surface strength, chemical resistance, and ability to protect against corrosion. They are majorly used for adhesion promotion as well as enhancing corrosion resistance and scratch resistance. Siloxane-alkyd, siloxane-epoxy, and siloxane-acrylic chemistries are used to achieve low viscosity, low VOC, high solids, metal adhesion, cement and quartz-like surfaces, low combustibility, high heat and UV tolerance in automotive, architectural, and marine antifouling coatings. Silanes are also used as the feedstock for a thin-coating industrial sol-gel process. Paints & coatings find a wide range of applications in major end-use industries such as automotive, construction, and aerospace. In the building and construction industry, paints and coatings are used to enhance the esthetic appeal of the structure. The growth of the building and construction industry, with the rising residential and non-residential construction, across the globe has fueled the demand for paints and coatings.

For instance, according to the US Census Bureau, the overall construction spending in the US stood at USD 1,524.2 billion as of April 2021, a 9.8% increase compared to April 2020. Furthermore, the increasing construction and infrastructure activities in developed and developing economies in Asia Pacific, such as India, China, Thailand, and Malaysia, due to rapid urbanization and industrialization is projected to propel the demand for silane coupling agents.

The global Silane coupling agents market is estimated to be USD 1,221.2 million in 2021 and is projected to reach USD 1,593.8 million by 2026, at a CAGR of 5.5%. The growth is due to the growing demand from rubber & plastics, paints & coatings and other applications throughout the world. The rising demand from the automotive and building & construction sectors in developing countries such as China and India are driving the market. North America and Europe have introduced stringent regulations for tire labeling and fuel efficiency which act as drivers for the silane coupling agents in production of green tires. Also, the new trend of low VOC paints & coatings is now changing the focus of industry toward powder coatings.

Silane coupling agents is a diversified and competitive market with a large number of global players and few regional and local players. Dow (US), Wacker Chemie AG (Germany), Evonik Industries (Germany), Momentive (US), Shin-Etsu Chemical Co. Ltd. (Japan), are some of the key players in the market.

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5 Latest Development in Composite Film Market

 

Composite films are used in a variety of end-use industries, including aerospace & defense, and automotive, among others. Led by strong end-user demand, the composite film industry is growing at a rapid pace. The global composite film market size is expected to grow from ~USD 245 million in 2020 to ~USD 328 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.

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Recent Developments

• In May 2019, Solvay signed a contract with Safran for the supply of high-temperature composites and adhesives. Safran will use these advanced materials on several of its critical engine components. This would strengthen the Solvay in the composite film market.
• In September 2018, Solvay inaugurated its state-of-the-art manufacturing center for aerospace structural adhesives, and surfacing films in Wrexham, UK. This has broadened Solvay’s footprint and strengthened its leadership position in the composite film market.
• In July 2018, Solvay signed a contract with the Airbus until 2025 for the supply of the advanced materials, including prepregs, resin systems, adhesives and surfacing films, carbon fiber, textiles, tooling, etc.
• In March 2018, Toray acquired TenCate Advanced Composites for accelerating the growth in advanced composites for both companies. This acquisition has increased the demand for the composite surfacing film product and thus helped Toray to sustain in the composite film market.
• In March 2018, Hexcel entered into a partnership with Arkema for manufacturing carbon fiber-based thermoplastic composite solutions for the aerospace sector. This helped the company to become an industry leader in advanced composite thermoplastic technologies.
• In October 2016, Hexcel announced a contract amendment and extension with the airbus group of supplying advanced composites, which would generate total sales of USD 15 billion for the duration of the contract. It would be supplying carbon fiber prepreg to the Airbus A350XWB, which would result in an increasing demand for the composite surfacing film.

North America accounts for the largest market share in the composite film industry owing to the growing economies of the US, and Canada, the presence of prominent players, and expanding aerospace & defense, and automotive industries. In North America, the US is projected to grow at the fastest rate during the forecast period. It is the largest market for composite films in North America. The economic growth of the nation is the main factor for the high consumption of composite films. The automotive and other industries are rapidly expanding, thereby driving the demand for composite films in the region.

Key players in the market include 3M(US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium), Toray Industries, Inc. (Japan), Socomore(France), Park Aerospace Corp.(US), and Axiom Materials Inc.(US), among many others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composite film market.

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Epoxy and polyurethane floorings are widely used in the commercial and industrial sectors

The floor adhesive market is projected to grow from USD 8.54 Billion in 2017 to USD 11.01 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The growth of the floor adhesive market is driven by advancements in flooring materials used in the residential, commercial, and industrial sectors. Epoxy and polyurethane floorings are widely used due to their high resistance to chemicals, temperature, and abrasion. These floorings are widely used in the healthcare, food, and automotive industries.

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Epoxy adhesives consist of an epoxy resin and hardener. These adhesives are available in one-part, two-part, and film form. Epoxy adhesives form an extremely strong and durable bond with most materials. Toughened epoxy adhesives contain a dispersed physically separated but chemically attached rubber phase to improve fracture and impact resistance. The major reason for the increasing adoption of epoxy adhesives in the flooring industry is their capacity to provide a good balance of handling characteristics and superior physical properties. They adhere well to a wide variety of substrates.

Based on application, the floor adhesive market has been segmented into tile & stone, carpet, wood, vinyl, and sports & rubber, among others. The growth of the tile & stone application segment is driven by the increasing infrastructural development in emerging countries across the globe.

The floor adhesive market in Asia-Pacific expected to witness the highest growth during the forecast period. Emerging economies, such as China, India, South Korea, and various Southeast Asian countries are attracting several global players to establish their manufacturing base in Asia-Pacific. These manufacturers are competing to reach an extensive customer base in countries, such as China and India to cater to the increasing demand for adhesives from the residential and industrial sectors in these countries. Increased investments in infrastructural development in the region are expected to fuel the growth of the floor adhesive market in Asia-Pacific.

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Composite Film Market - Led by strong end-user demand

Composite films are used in a variety of end-use industries, including aerospace & defense, and automotive, among others. Led by strong end-user demand, the composite film industry is growing at a rapid pace. The global composite film market size is expected to grow from ~USD 245 million in 2020 to ~USD 328 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.

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The aerospace & defense industry is a major consumer of composites, which in turn increases the demand for composite films. Leading aircraft manufacturers such as Boeing and Airbus are increasing the use of carbon composites, and composite films in their commercial aircraft. Composite films are also used in fuselage, wings, tail, tail fin, wing box, trailing edge, engine nacelles, engine, and other structural parts of an aircraft. Growing environmental concerns and search for high strength lightweight materials to increase fuel efficiency has put composites and simultaneously composite films under the limelight in the automotive industry. As, the composite structures used on automotive would require Class A protection from extreme climates, and scratches.

The strength-to-weight ratio of most composites is higher than that of steel and aluminum. The weight reduction of the required structure makes the use of composites vital in the aerospace & defense industry. The use of composite films in aircraft has grown as they are lightweight and have high tensile strength. Composite films can withstand lightning strikes. Commercial aircraft such as Boeing 787 and Airbus 350 are relying heavily on carbon fiber composites for their airframe structures, with 50% of the aircraft’s materials being composites, which in turn increases the demand for composite films.

North America holds the largest market for the composite film market. The key reason for this includes the demand for composite films in the aerospace & defense industry in the region. The demand for composite film in aerospace & defense, automotive, and other industries is projected to improve due to product innovation and technological advances made in this sector. According to the 24/7 Wall St. a Delaware corporation, in the US, parts of Florida experience an average of 100 thunderstorm days annually, making Florida the most likely place in the country for lightning strikes. Also, along the US West Coast, annually, an average of 10 thunderstorms is experienced. These factors drive the demand for composite films during the forecast period.

Key players in the market include 3M(US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium), Toray Industries, Inc. (Japan), Socomore(France), Park Aerospace Corp.(US), and Axiom Materials Inc.(US), among many others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composite film market.

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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.

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“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).

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Increasing use of nano-coatings driving the market of Industrial Coatings Market

The industrial coatings market is expected to grow from USD 85.2 billion in 2020 to USD 103.2 billion by 2025, at a CAGR of 3.9%. The major factors driving the industrial coatings market include the increasing demand for environmentally-friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region.

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Nano-coatings provide weather resistance to protect coated surfaces from getting degraded. Nano-coatings offer excellent properties, such as high-temperature resistance, waterproofness, UV-stability, high-abrasion resistance, and corrosion resistance. They are also environmentally-friendly and non-toxic and are easy to clean. They are considered as sustainable protective coatings. Owing to these properties, nano-coatings find applications in automotive, aerospace, electronics, food & packaging, and marine industries. Nano-coatings also enhance the properties of display screens of electronic devices and extend their useful life. They enable easy cleaning, disinfection, and sterilization of these devices.

The everyday uses of powder-based industrial coated products include lighting fixtures, antennas, and electrical components. Schools use powder-coated bleachers, soccer goals, basketball backstops, lockers, and cafeteria tables. Corporate offices utilize powder-based industrial coated file drawers, computer cabinets, laptop computers, and cell phones. In domestic homes, applications include baby strollers, cribs, playpens, car seats, toys, wagons, electronic components, gutters & downspouts, bathroom scales, mailboxes, satellite dishes, toolboxes, and fire extinguishers. The rapidly increasing demand for these products will boost the market over the next five years.

APAC has emerged as the leading consumer and producer of industrial coatings. The easy availability of low-cost labor and raw materials are driving foreign investments, which is increasing the production of industrial coatings in the region. APAC is also the fastest-growing industrial coatings market.

Major players in the industrial coatings market include Jotun A/S (Norway), Axalta Coating Systems, LLC (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Teknos Group (Finland), PPG Industries, Inc. (US), RPM International Inc. (US), Tikkurila Oyj (Finland), Hempel A/S (Denmark), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Chemours Company (US), and NOROO Paint & Coatings Co Ltd (South Korea).

Automotive is the largest end-use industry in the overall conformal coatings market

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.

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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.

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.

North America is projected to be the second-largest market in the overall market. The conformal coating market in the region will be driven by the PCB demand from the electric vehicle (EV) manufacturers. But in recent years, PCB manufacturers are looking to capture the aerospace and defense industry which will create opportunities for conformal coatings as this PCB should be protected for them to work in full capacity during operations.

The leading players in the global conformal coatings market include Henkel (Germany), Chase Corporation (US), Illinois Tool Work (US), Electrolube (UK), Shin-Etsu Chemicals (Japan), Dow (US), HB Fuller (US). These players account for significant market shares. The companies adopted expansion and new product developments as key strategies to enhance growth in the market.

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The Key Development Strategies are Adopted by Leading Players for Boosting the Growth of the Composite Film Market

Composite films are used in a variety of end-use industries, including aerospace & defense, and automotive, among others. Led by strong end-user demand, the composite film industry is growing at a rapid pace. The global composite film market size is expected to grow from USD 245 million in 2020 to USD 328 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.

Over the past few years, companies have strengthened their position in the global composite film market by adopting strategies such as expansions, contracts, agreements, new product launches, and acquisitions. From 2015 to 2020, expansions and contracts have been the key strategies adopted by market players to maintain growth in the global composite film market. For instance, in July 2018, Solvay signed a contract with Airbus to supply advanced materials such as prepregs, resin systems, adhesives, and surfacing films, carbon fiber, textiles, tooling, etc. till 2025.

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 Major manufacturers profiled in this report include 3M(US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium), Toray Industries, Inc. (Japan), Socomore(France), Park Aerospace Corp.(US), Axiom Materials Inc.(US), among others. These companies adopted various organic and inorganic growth strategies. For instance, in March 2018, Toray acquired TenCate Advanced Composites to accelerate the growth of advanced composites for both companies. This acquisition increased the demand for composite films and thus helped Toray sustain in the composite film market.

3M (US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium) are major players in the composite film market. These companies are the largest growth contributors of the global composite film industry. These companies specialize in manufacturing composite films that have sustainable properties. For instance, Hexcel Corporation (US) specializes in manufacturing composite films, namely HexBond, for the composite film industry, globally.

Similarly, Solvay (Belgium) specializes in the manufacture of composite films for the composite film industry, globally. These companies are the key players present in the global composite film market and have a vast global presence.

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Asia Pacific to lead the glass flake coatings market due to growth in the shipbuilding and chemical manufacturing industries

Glass flake coatings are advanced coatings with improved corrosion and abrasion resistance, and strong impermeability barrier resistance for chemicals and solvents. Glass flake coatings provide superior protection to steel and concrete substrates in the marine, oil & gas, chemical & petrochemical, power plants, and paper & pulp industries. The global glass flake coatings market size is estimated at USD 1.44 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, growing at a CAGR of 4.48%.

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The Asia Pacific region is expected to be the largest market for glass flake coatings mainly due to the rapidly-growing economies of China and India in the region. Manufacturers of glass flake coatings are targeting this region as the shipbuilding and chemical industries in the region are the largest. The China glass flake coating market has grown rapidly in recent years and is projected to witness high growth in the near future, due to a large number of established shipbuilding and chemical industries in the country. Countries such as India, Indonesia, and Australia are making significant developments in marine and chemical & petrochemical projects, which is anticipated to propel the growth of the glass flake coatings market in these countries.

This, along with the low cost of production and availability of cheap labor, has caused various chemical companies in the market to shift their production bases to the Asia Pacific region. Also, the global shipbuilding industry, a major end-user of epoxy-based glass flake coatings, is led by Asia Pacific—particularly by China, South Korea, and Japan due to the presence of the top five shipbuilding groups in the region.

The increase in global trading has forced the marine industry to invest in various shipbuilding projects. These projects have increased the demand for novel coating solutions for the protection of marine vessels and structures from corrosion, fouling, abrasion, salt water, air, and UV degradation.  Glass flake coatings reduce the effects of the abrasive & corrosive environments steel substrates are mostly used in, thereby increasing their durability.

Key Target Audience:

• Manufacturers of glass flake coatings
• Raw material suppliers
• End-users of glass flake coatings, such as the oil & gas, marine, and chemical & petrochemical industries
• Traders, distributors, and suppliers of glass flake coatings
• Regional manufacturer associations and various general coatings associations
• Governments, investment banks, venture capitalists, and private equity firms

Key manufacturers of glass flake coatings include Akzo Nobel (Netherlands), PPG Industries (US), Jotun (Norway), Hempel (Denmark), Chugoku Marine (Japan), The Sherwin-Williams Company (US),  KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).

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Shin-Etsu Chemicals (Japan) and Dow (US) are Leading Players in the Conformal Coating Market

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.

The leading players in the global conformal coatings market include Henkel (Germany), Chase Corporation (US), Illinois Tool Work (US), Electrolube (UK), Shin-Etsu Chemicals (Japan), Dow (US), HB Fuller (US). These players account for significant market shares. The companies adopted expansion and new product developments as key strategies to enhance growth in the market.

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Shin-Etsu Chemical is one of the leading manufacturers and distributors of synthetic resin and other chemicals. The company operates through six business segments, namely PVC/Chlor-Alkali business, semiconductor silicon business, silicone business, electronics and functional materials business, specialty chemicals, and processing, trading & specialized services business. It offers conformal coatings under the silicone business segment. The company has a strong presence in over 20 countries and regions. In September 2018, Shin-Etsu decided to invest USD 1 billion in the facility for silicone business. The expansion will increase the production capacity of various silicone fluids, resins, monomers, intermediates and rubber end products at the bases in Japan and globally.
Dow is one of the largest chemical manufacturing and distributing companies in the world.  The DowDuPont company has been organized into three operating segments namely performance materials & coatings, industrial intermediates & infrastructure and packaging & specialty plastics. It offers conformal coatings under the performance materials & coatings segment. The company has an extensive global presence with 109 manufacturing plants in 31 countries across the Americas, APAC, Europe and Middle & Africa. In February 2020, Dow introduced DOWSIL CC-820 UV and Moisture Dual-Core Conformal Coating at the IPC APEX EXPO 2020. This is the first solventless silicone conformal coating which has a moisture dual-core system for high throughputs. The new product promotes sustainability, health and safety.

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Glass Flake Coatings Market by End-Use Industry (Oil & Gas, Marine, Chemical & Petrochemical)- Global Forecast to 2022

The global glass flake coatings market size is estimated at USD 1.44 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, growing at a CAGR of 4.48%.

Glass flake coatings are advanced coatings with improved corrosion and abrasion resistance, and strong impermeability barrier resistance for chemicals and solvents. Glass flake coatings provide superior protection to steel and concrete substrates in the marine, oil & gas, chemical & petrochemical, power plants, and paper & pulp industries.

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Glass Flake Coatings Market, Based on End-use Industry:

• Oil & Gas
• Marine
• Chemical & Petrochemical
• Others

The oil & gas segment is projected to lead the market
The growth in this segment can be attributed to the increased use of glass flake coatings in offshore & onshore platforms, pipelines, tanks, submerged surfaces, concrete bunds, and associated infrastructures. Glass flake coatings provide sufficient protection to these assets and pipelines, which increases their durability by reducing the effects of the corrosive and abrasive environment under which they operate.

The Asia Pacific region is expected to be the largest market for glass flake coatings mainly due to the rapidly-growing economies of China and India in the region. This, along with the low cost of production and availability of cheap labor, has caused various chemical companies in the market to shift their production bases to the Asia Pacific region. Also, the global shipbuilding industry, a major end-user of epoxy-based glass flake coatings, is led by Asia Pacific—particularly by China, South Korea, and Japan due to the presence of the top five shipbuilding groups in the region.

Key market players in the glass flake coatings market
Key players in the glass flake coatingsmarket are Akzo Nobel (Netherlands), PPG Industries (US), Chugoku Marine (Japan), Jotun (Norway), Hempel (Denmark), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).

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Glass flake coatings market- Forecast & Opportunities 2022

The glass flake coatings market is projected to reach USD 1.80 billion by 2022, at a CAGR of 4.48% from 2017 to 2022. Asia Pacific is estimated to lead the market for glass flake coatings in 2017, in terms of value, due to the increased demand for glass flake coatings from countries such as China, South Korea, Japan, India, and Indonesia.

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The presence of key players of glass flake coatings in the Asia Pacific region is one of the main factors driving the growth of the market in this region. Key players in the market, such as Chugoku Marine (Japan), KCC Corporation (South Korea), Nippon Paint (Japan), and Kansai Paint (Japan), have their manufacturing bases in Asia Pacific. Other top companies operating in the global glass flake coatings market are also shifting their production bases to Asia Pacific, owing to the low cost of production and ease of serving emerging local markets. The glass flake coatings in the marine industry will be dominated by Asia Pacific, particularly China, South Korea, and Japan, due to the presence of major shipbuilding companies in these countries. The rapid developments in glass flake coating technology in India, Indonesia, and Australia, is another reason expected to fuel the growth of the Asia Pacific glass flake coatings market.

Based on resin, the epoxy segment is expected to witness the highest growth during the forecast period. The growth of this segment can be attributed to the increasing use of epoxy-based glass flake coatings in the building of marine offshore & onshore infrastructures, large cargo ships, interior & exterior of storage tanks, and various chemical processing areas. Epoxy glass flake coatings impart excellent corrosion, abrasion, chemical, and temperature resistance to oil, gas, solvents, and chemical & petrochemical products.

Based on substrate, the steel segment is projected to witness the highest growth during the forecast period. Steel meets the strength and toughness criteria required for the manufacture of pipes for the oil & gas; tanks for the chemical & petrochemical; and various parts of cargo ships for the marine end-use industries. The use of glass flake coatings protects steel from corrosion, fouling, and abrasion.

Based on end-use industry, the marine segment is projected to witness the highest growth during the forecast period. This is due to increase in use of glass flake coatings to protect cargo ships and various onshore & offshore infrastructures from harsh weather conditions. Glass flake coatings are also vital in enhancing the fuel efficiency of a ship and decreasing the impact on the environment.

Acrylics and epoxy, the largest types of conformal coatings

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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Investments & Expansions, New Product Developments/Launches, and Mergers & Acquisitions were the Key Strategies Adopted by Industry Players to Achieve Growth in the Glass Flake Coatings Market.

The glass flake coatings market is projected to reach USD 1.80 Billion by 2022, at a CAGR of 4.48% from 2017 to 2022. Glass flake coatings are manufactured by adding glass flakes in anti-corrosive coatings to improve barrier and reinforcement properties, along with wear & tear and abrasion resistance properties. Glass flake coatings are best used in the oil & gas, marine, chemical & petrochemical, water & wastewater systems, power plants, and pulp & paper end-use industries to protect steel and concrete substrates from corrosive fluids and impart resistance against solvents, chemicals, and high-temperature fluids.

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Investments & expansions, new product developments/launches, and mergers & acquisitions were the key strategies adopted by industry players to achieve growth in the glass flake coatings market. Companies are focusing on investments & expansions to expand their businesses and fulfill the growing demand for glass flake coatings from consumers. Besides these strategies, companies are also adopting new product launches and mergers & acquisitions to expand and cater to the rising demand for glass flake coatings from emerging economies.

In terms of strategic developments between January 2015 and September 2017, investments & expansions was the most preferred strategy adopted by manufacturers to strengthen their position and product portfolio in the global glass flake coatings market, followed by new product developments/launches and mergers & acquisitions.

Chugoku Marine (Japan), KCC Corporation (South Korea), Nippon Paint (Japan), and Kansai Paint (Japan) are some of the key players in the Asia Pacific glass flake coating market. Akzo Nobel (Netherlands), Jotun (Norway), and Hempel (Denmark) are key players in the European region, while PPG Industries (US), The Sherwin-Williams Company (US), and RPM International (US) are key players in the North American region.

Key manufacturers including Akzo Nobel (Netherlands), PPG Industries (US), Jotun (Norway), Hempel (Denmark), Chugoku Marine (Japan), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US) have been profiled in this report.

Akzo Nobel, PPG Industries, and Jotun were the most active players in the global glass flake coatings market between January 2015 and September 2017. For instance, in May 2017, Akzo Nobel opened a Performance Coatings production facility in Santo André, Brazil. With this development, the company will become more agile in responding to local customer needs and regional market demands. The company will also strengthen its international portfolio of high-performance industrial and marine coatings in South America.

PPG Industries is another key manufacturer of glass flake coatings. In February 2016, the company invested USD 7.8 million in its Coatings Innovation Center in Allison Park, Pennsylvania (US). With this investment the company enhanced all three main business segments, namely performance coatings, industrial coatings, and glass coatings. Glass flake coatings are manufactured under its performance coatings business segment.

In November 2015, Jotun opened a new marine and protective coating plant in Brazil with a production capacity of 10 million liters per annum. The new plant will help the company become a market leader in marine and protective coatings within Brazil.

Mergers & Acquisition was the Key Strategy Adopted by the Leading Market Players to Achieve Growth in the Floor Adhesive Market

Floor adhesive is materials that are used to hold two surfaces together. These adhesives can be of diverse types, including urethane, acrylic, epoxy, silane modified polymer, and others. These adhesives are used in different flooring applications, such as tile & stone, carpet, wood, vinyl, and others.

Key players operating in the floor adhesive market have adopted various strategies to strengthen their position in the market. Mergers & acquisition was the key strategy adopted by the leading market players to achieve growth in the floor adhesive market between 2014 and 2017. Key players in the market also adopted strategies, such as investments and expansions, new product launches, partnerships & collaborations, and agreements to increase their shares in the floor adhesive market and strengthen their distribution networks.

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Mapei S.p.A. (Italy), Sika AG (Switzerland), Henkel AG (Germany), Bostik SA (France), H.B. Fuller (U.S.), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany), Forbo Holdings AG (Switzerland), Pidilite Industries Limited (India), Ardex Group (Germany), and Franklin International (U.S.) are some of the leading players in the floor adhesive market.

Mapei S.p.A. is one of the leading companies in the floor adhesive market. The company offers several types of floor adhesive for varied applications, such as ceramic and stone adhesives, timber flooring, resin floor covering, and decorative flooring, among others. Mapei Group acquired the Colombian company Productos Bronco S.A., which specializes in the production of waterproofing products, adhesives, sealants, and finishes. Mapei has strengthened its presence in South America with this acquisition. Mapei Construction Products India Ltd. expanded its presence in the Asia-Pacific by establishing a new production site in Vadodara in Gujarat (India).

In 2016, Bostik SA expanded its cementitious products manufacturing capacities at its Seremban plant in Malaysia. The plant specializes in cement-based construction products, such as adhesives and sealants for tiles and expansion joint sealants for flooring. In May 2017, Bostik acquired floor preparation systems of CGM, Inc. The acquisition is a part of Bostiks strategy to expand in the growing US construction market and offer its customers a complete range of innovative solutions in the flooring market.

In 2016, Sika AG acquired L.M. Scofield (U.S.) and Ronacrete Ltd. L.M (Hong Kong). Scofield is a leading producer of color additives for ready-mix concrete. The acquisition will help Sika AG in the production of different concrete flooring products. Ronacrete Ltd. is one of the leading suppliers of repair mortars, tile adhesives, and other mortar products in Hong Kong. The acquisition of the company will strengthen the position of the company in the floor adhesive market.

Related Reports:

Floor Adhesive Market by Type (Epoxy, Urethane, Acrylic, and Vinyl), Application (Tile & Stone, Carpet, Wood, and Laminate), Technology (Water-based, Solvent-based and Hot-melt based), and Region – Global Forecast to 2022