New York, March 31, 2023 (GLOBE NEWSWIRE) -- The Electronics Conformal Coating Market revenue was estimated at US$ 1.0 billion in 2022 and is anticipated to grow at a CAGR of 5.1 % from 2023 to 2032. By the end of 2032, the market is expected to reach a revenue of US$ 1.7 billion.
The electronics conformal coatings used in the electronics and telecommunication vertical is expected to dominate the market with a projected CAGR of 4.9 % from 2023 to 2032.
Rising use of electronics conformal coating in automobile electronics is predicted to boost the electronics conformal coating market. An increased adoption of this product has also been witnessed in the consumer electronics segment.
Printed circuit boards play a crucial role in various industries such as automobiles and consumer devices. These circuits can be protected from corrosion and the elements by applying a conformal coating, which is a thin polymeric film.
Printed circuit boards and other electronic equipment can be coated with conformal coatings to shield them from moisture, salt, chemicals, temperature extremes, mold growth, and electrical failures.
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Such circuits are used heavily in consumer electronics like mobile phones and home appliances. With the rise in the demand for consumer electronics globally, this is another factor that is expected to keep market growth for electronic conformal coatings steady.
Printed circuit boards are commonly used in cars for a wide range of applications such as navigation and control systems. As a result, electronic conformal coating is used extensively by automobile manufacturers to protect the electronics within the car from environmental factors. It is projected that as the demand for automobiles rises globally, the market for electronic conformal coating would expand during the forecast period.
Key Takeaways from Electronics Conformal Coating Market
- North America electronics conformal coating market size would exceed a valuation of US$ 0.47 billion in 2032.
- The United States electronics conformal coating market is expected to be worth US$ 273.5 million by 2032.
- The United Kingdom electronics conformal coating industry is anticipated to surpass US$ 46.5 million in 2032.
- The electronics conformal coating market in South Korea is expected to be worth US$ 100 million by 2032.
- Based on type, the acrylic category is set to showcase a CAGR of 5.0% from 2022 to 2032.
“The predominant USP of electronic conformal coating is its safety premise,which has become an essential for the automotive and consumer electronics industry. Manufacturers and investors must focus on mass production in the South Asian market for maximum benefits.” – says a Lead Analyst
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Competitive Landscape: Electronics Conformal Coating Market
The market players are investing heavily in research and development for new and better products with accurate results. The companies are also focusing on product launches and expansions to augment their market positions.
For example,
- In July 2021, Chase Corporation acquired Resin Designs LLC, a manufacturer of conformal coatings and encapsulants for electronic applications. This acquisition is expected to enhance Chase Corporation's position in the electronic coatings market.
- In March 2019, H.B. Fuller announced the expansion of its engineering adhesive business in Japan with the establishment of H.B. Fuller Japan GK. This expansion will strengthen the engineering adhesive business in Japan in various industries such as electronics, aerospace, and transportation.
Get More Exclusive Insights into Electronics Conformal Coating Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the Electronics Conformal Coating market presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
The study reveals extensive growth
- In terms of type (acrylic, polyurethane, hybrid, silicone, epoxy),
- Operating method (manual & automated spraying, brushing, dipping),
- In terms of technology (solvent based, water based, UV Cured),
- Application (appearance, moisture & insulation resistance, UV Fluorescence, flammability, thermal shock, adhesive),
- Industry vertical (consumer electronics, automotive, aerospace & defense, industrial & telecommunication, marine, medical) and regions.
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