The Electronics Conformal Coating Market is expected to reach USD USD 1182.69 Million billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.62% between 2021 and 2028. The rising usage of electronic components in industries such as the consumer electronics sector and automotive coupled with increasing demand for highly reliable electronic devices & equipment is fuelling conformal coating market growth.
- The acrylic coating type segment is projected to grow at a substantial Compound Annual Growth Rate (CAGR) over the forecast period. The acrylic coating has fair elasticity and gives general protection to board components and also it provides a wide array of applications. Additionally, the coating is easily applied & removed and is also an affordable option for various end-users.
- The industrial and telecommunication in Industry verticals segment held a significant market share in 2021. The growth in industrial and telecommunication is due to the emergence of advanced electronic assemblies with several transformations in consumer demands.
- Asia Pacific is expected to expand at the fastest CAGR from 2021 to 2028. The increasing investment for the innovative conformal coating formulation coupled with evolving technology is significantly contributing to the growth of the Electronics Conformal CoatingMarket.
Some of the major players in the Electronics Conformal Coating Market includes - 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 growth of the Electronics Conformal Coating Market is due to the high demand for miniaturized electronics, circuitry as well as several advanced PCB-related applications. Conformal coatings solutions have a remarkable combination of superior performance with reliability in different industry verticals such as defense, aerospace, and marine and are adopting the right level of protection. The high demand for developing high-end applications, along with the growing prevalence of PCB manufacturers for designing durable coatings with premium corrosion resistance features increases the usage of conformal coating in portable and wireless consumer electronic products. Thus, it is responsible for fuelling the Electronics Conformal Coating Market growth.
is poised to record the highest CAGR. Rapid growth in the consumer electronics market has led to the potential venture of PCB manufacturers, like Kawasaki Process Co. Ltd, Ascent Circuits Pvt. Ltd, AC Synergy PTE Ltd in the Asia Pacific. The penetration of digitalization in the region is influencing the market growth, as it requires the integration of a high volume of electronic components.