Major players in the conformal coatings market are Chase Corporation, Dow Corning Ltd. , Dymax Corporation, Electrolube Limited, H. B. Fuller Company, Henkel AG & Co. KgaA, MG Chemicals Ltd. , Shin-Etsu Chemical Co.
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Conformal Coatings Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130141/?utm_source=GNW
Ltd, Cytec Industries Incorporated, Europlasma NV, Glenro Inc, and Specialty Coating System.
The global conformal coatings market is expected to grow from $10.57 billion in 2020 to $11.04 billion in 2021 at a compound annual growth rate (CAGR) of 4.43%. The growth is mainly due to the increasing demand of PCB from high-end applications in aerospace & defense and automotive industries. The market is expected to reach $15.08 billion in 2025 at a CAGR of 8.11%.
The conformal coatings market consists of sales of conformal coatings by entities (organizations, sole traders, and partnerships) that manufacture conformal coatings.A conformal coating is a thin polymeric layer that is distributed to a printed circuit board (PCB) to secure it and its components from corrosion and the environment.
These coatings conform to the irregular landscape of the printed circuit board and offer increased operational integrity, dielectric resistance, and reliability.
The main types of conformal coatings are acrylic, silicone, epoxy, urethane, and parylene.Acrylic is a cross-linking system that ensures the adhesion of coatings or paints made from acrylic resin.
Acrylic paints are usable in organic solvent-borne, waterborne, powder, and radiation-curable formulations.They’re also used in architectural and decorative finishes, as well as to coat industrial products.
Silicone conformal coatings provides good chemical resistance, moisture, and salt spray resistance, and is very flexible and is commonly used in high-humidity environments.Epoxy conformal coatings provide very good humidity resistance and are not generally permeable and are common in potting compounds.
Urethane conformal coatings offer excellent moisture and chemical resistance and is commonly specified for aerospace applications where exposure to fuel vapors is a common concern. Parylene conformal coatings is applied by vapor phase deposition and offers excellent dielectric strength and superior resistance to moisture, solvents, and extreme temperatures. The technologies involved in conformal coatings are water-based, solvent-based, UV cured, and operate in different methods such as dip coating, brush coating, spray coating, and chemical vapor deposition. It is implemented in different verticals such as automotive, consumer electronics, aerospace and defense, industrial, telecommunication.
Asia Pacific was the largest region in the conformal coatings market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing technological advancements are shaping the conformal coating market.Major companies operating in the conformal coating sector are focused on developing technological solutions for conformal coating.
For instance, in February 2020, The Dow Chemical Company, a chemical manufacturing company launched the DOWSIL CC-8030 UV and Moisture Dual Cure Conformal Coating at IPC APEX EXPO, the company’s first solventless silicone conformal coating with an ultraviolet (UV) and moisture dual-cure device for maximum efficiency.Through automated spraying and quick energy-efficient UV curing, the new environmentally friendly silicone technology enables sustainability, health, and safety while lowering processing costs.
Also, in 2019, Germany based Henkel AG & Co. KGaA launched a quick-drying, toluene-free conformal coating system in order to provide mechanical and environmental protection to PC boards.
In December 2020, Chase Corporation, a US-based specialty chemicals company acquired ABchimie for a deal amount of $21.4 million. The acquisition would enable Chase Corporation to widen its electronics coating product portfolio among the sealants, adhesives, and additives reporting segments with high-performance, environmentally friendly technology. ABchimie is a France-based company that manufactures and distributes professional solutions for resins, conformal coatings, silicones, maintenance, and cleaning solutions.
The growing demand for the consumer electronics industry is expected to propel the growth of the conformal coatings market.The consumer electronics industry consists of a range of electronic products such as smartphones, TV, and personal computer.
Conformal coatings are used in consumer electronics to combat chemicals, hazardous external conditions, and toxins in offices and residences.For instance, according to ClearSale, a US-based company, the consumer electronics sector’s revenue is expected to exceed $450 billion by 2024.
Therefore, the growing demand for conformal coatings from the consumer electronics industry is expected to drive the growth of the conformal coatings market.
The countries covered in the Conformal Coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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