The conformal coating market for PCBs is anticipated to witness stable growth during the forecast period of 2018-2026. Emergence of printed circuit boards (PCBs) as a crucial part of any electronic device and the assurance of operational integrity of electronic assembly through eliminating shorts, voltage arcing, static discharge, etc., will bring immense growth prospects.
Extensive use of conformal coatings in end-user industries such as automotive, aerospace, marine, industrial machinery and equipment, defense, medical, and others will invite exponential growth. In addition, rising disposable income is leading to an increase in the sales of consumer electronics and vehicles, eventually accelerating the growth opportunities of the conformal coating market for PCBs.
Conformal coatings are used to guard chemical coatings against contaminants, moisture, salts, etc. The operational integrity of electronic assembly is assured through conformal coatings. Various benefits are associated with the use of conformal coatings across various applications. Thus, these factors bring exponential growth for the conformal coating market for PCBs. Dip coating, spray coating, CVD, and brush coating are some significant operation methods.
Research and development activities are an essential factor of the conformal coating market for PCBs growth structure. Manufacturers in the conformal coating market for PCBs are involved in these activities for discovering insights that prove to be fruitful for the development of conformal coating market for PCBs, eventually leading to an increase in the revenues. All these factors bode well for the growth of conformal coating market for PCBs.
Strategic collaborations are an essential aspect of the conformal coating market for PCBs. The players indulge in mergers, acquisitions, joint ventures, and partnerships for strengthening their influence across the conformal coating market for PCBs. Further, the players also indulge in expansion activities, which form an important part of the growth structure.
Transparency Market Research’s (TMR’s) report on the conformal coating market for PCBs has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on conformal coating for PCBs by TMR suggests a stable growth period.
According to the TMR experts, the market for conformal coating for PCBs is prognosticated to expand at 5.6 percent CAGR during the forecast period of 2018-2026. In the context of valuation, the conformal coating market for PCBs was valued at US$ 8,871 mn in 2017.
Rising Disposable Income assures Promising Growth for Conformal Coating Market for PCBs
Disposable income of many individuals around the world has risen considerably over the years. This aspect has led to an improvement in the standard of living of people. An increase in the demand for consumer electronics and automotive vehicles will help in the overall development of the conformal coating market for PCBs. These coatings are used extensively in the consumer electronics and automobile sector to protect PCBs from rough use and harmful chemicals. These aspects will bring exponential growth for the global market.
Asia Pacific’s Conformal Coating Market for PCBs to Reign Supreme
Asia Pacific is estimated to clench a higher growth-share of the conformal coating market for PCBs during the forecast period of 2018-2026. It was valued at US$ 300 bn in 2015. Densely populated countries like India and China are observing mass rural-to-urban migration.
The levels of urbanization have increased substantially over the years due to this factor. Hence, the disposable income of individuals in these countries has increased. Thus, the demand for consumer electronics is expected to flourish across the region. Further, availability of affordable consumer electronics and good finance schemes will add value to the growth trajectory.
Some well-entrenched players in the conformal coating market for PCBs are Henkel AG & KGaA, Shin-Etsu Chemical Company Limited, and Dow Corning.
The conformal coatings market for PCBs can be segmented as follows:
Conformal Coatings Market for PCBs, by Product
Conformal Coatings Market for PCBs, by Operation Method
- Dip Coating
- Spray Coating
- Brush Coating
Conformal Coatings Market for PCBs, by Technology
Conformal Coatings Market for PCBs, by End-use
- Consumer Electronics
- Industrial Machinery & Equipment
Conformal Coatings Market for PCBs, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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