Electronics Conformal Coating Market
Electronics Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane), by End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Telecommunication), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Forecast Years for Electronics Conformal Coating Market:||2022 - 2028|
|Historical Years for Electronics Conformal Coating Market:||2016 - 2021|
|Revenue 2021 for Electronics Conformal Coating Market:||USD 851.81 Million|
|Revenue 2028 for Electronics Conformal Coating:||USD 1182.69 Million|
|Revenue CAGR (2022 - 2028) for Electronics Conformal Coating Market :||4.82%|
|Fastest Growing Region (2022 - 2028) for Electronics Conformal Coating Market:||Asia Pacific|
|Largest Region (2021) for Electronics Conformal Coating Market:||Asia Pacific|
Electronics Conformal Coating Market: By Type, End Use, and Region
The global Electronics Conformal Coating market was valued at USD 851.81 Million in 2021 and is projected to attain a value of USD 1182.69 Million by 2028 at a CAGR of around 4.82% over the forecast period, 2022–2028.
Conformal coating is a protective barrier that can be installed into electronic devices to protect them against contaminants, wear, moisture or other harsh conditions that could harm the equipment during operation. As the semiconductor industry becomes increasingly complex and demanding, so too have electronic devices. The ever-increasing demand for smaller, more powerful electronics has created a need for conformal coatings that meet specific requirements in performance and physical properties.
The semiconductor industry has been the main driver of the worldwide conformal coating market in recent years. As a result, advances within this industry have created a growing need for conformal coatings that offer a combination of properties to protect these ever-shrinking devices. The unique needs of emerging technologies such as 3D stacked ICs and System in Package (SiP) such as System on Chip (SoC) or heterogeneous integration, among others, have increased demand for conformal coatings that provide extra protection.
Conformal coatings not only protect the electronics during their life cycle, but also often improve performance and enable a smaller form factor. For instance, conformal coatings enable the use of ball grid arrays (BGAs) because they protect solder joints during device operation and allow for increased heat dissipation to prevent malfunction.
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By Type, Parylene is Dominating Electronics Conformal Coating Market
The demand for parylene is anticipated to witness high growth due to increasing demand from applications such as packaging, conformal coating and in electronic devices. The electronics industry accounted for the largest share in 2021 and is expected to remain dominant during the forecast period; this can be attributed to growing demand for efficient and reliable electronic products and components along with rising consumer awareness of health issues.
Parylene is extensively used in the packaging industry, owing to its lightweight and thin profile, which reduces the overall weight of an electronic device. Moreover, parylene presents excellent moisture barrier properties when applied over various substrates such as metals, composites and other plastics. This minimizes the possibility of corrosion in an electronic product during storage and transit.
By End-User, Consumer Electronics Segment to Lead Electronics Conformal Coating Market
Demand for consumer electronics is rising with them being involved in almost every aspect of daily life. This growth in demand has resulted in an increase in electronic waste (e-waste) production, which poses a serious threat to the environment. E-waste contains many substances including heavy metals and flame retardants that are not easily broken down in nature.
The need for a greater focus on environmental protection has also increased demand for conformal coatings that are more environmentally friendly than conventional coatings which contain volatile organic compounds (VOCs). The electronic industry must meet the demands of consumers by providing eco-friendly products without reducing product performance or increasing manufacturing costs.
Asia Pacific to Dominate Electronics Conformal Coating Market
Asia-Pacific is the largest market for conformal coating due to various factors such as growing electronics and electrical industries, rise in output of IoT devices and increasing government spending on healthcare. For instance, Asia Pacific is the largest regional market for IoT devices and accounted almost 40% share of global shipments in 2021. Asia Pacific is also the largest consumer of medical devices which includes wearable healthcare devices, insulin pumps and other devices. There are large number of industrial manufacturing plants in Asia Pacific due to availability of abundant cheap labor. Furthermore, growing market for electrical components has spurred demand for parylene conformal coating applications in Asia-Pacific.
Some of the major players in the market are Illinois Tool Work (US), Henkel (Germany), Dow (US), H.B. Fuller (US), Shin-Etsu Chemical (Japan), Electrolube (UK), Dymax Corporation (US), Chase Corporation (US), Specialty Coating System (US), and MG Chemical (Canada).
The Electronics Conformal Coating Market is Segmented as follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
The Electronics Conformal Coating Market Scope can be Tabulated as below:
Frequently Asked Questions
the global demand for Electronics Conformal Coating
in terms of revenue?
The global Electronics Conformal Coating valued at USD 851.81 Million in 2020 and is expected to reach USD 1182.69 Million in 2028 growing at a CAGR of 4.82%
are the prominent players
in the market?
The prominent players in the market are Illinois Tool Work (US), Henkel (Germany), Dow (US), H.B. Fuller (US), Shin-Etsu Chemical (Japan), Electrolube (UK), Dymax Corporation (US), Chase Corporation (US), Specialty Coating System (US), and MG Chemical (Canada)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.82% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Electronics Conformal Coating include
- Increasing Miniaturization of Electronic Devices
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Electronics Conformal Coating in 2020.