Conformal Coatings Market Analysis and Demand with Forecast Overview 2018 to 2026
A recent report released by Fact.MR on conformal coatings market for PCBs provides actionable and all-inclusive insights into the conformal coatings market for PCBs. All the key factors influencing the conformal coatings market for PCBs are identified and analyzed in the report. Additionally, the macro and microeconomic factors impacting the growth of conformal coatings market for PCBs. A detailed opportunity analysis of the conformal coatings market for PCBs has been included in the report. Both qualitative and quantitative analysis of all the identified factors and trends has been provided in the report. A competitive landscape assessment of the conformal coatings market for PCBs has been included in the report with detailed profiling of leading market players.
According to the latest report by Fact.MR, the conformal coatings market for PCBs reached the valuation of US$ 8,871 million in 2017, and is expected to register 5.6% CAGR during 2018-2026. With extensive application of PCBs in consumer electronics, including smartphones, computers, home appliances, and entertainment systems, along with the advancement in these devices and appliances, the demand for conformal coatings market for PCBs is significantly growing.
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Bolstering Electronics Production to Uphold Demand for Conformal Coatings
Exponential growth in electronics production is a vital factor driving the growth of conformal coatings market for PCBs. Technological breakthroughs in addition to the burgeoning demand for consumer electronics are some of the vital factors bolstering the growth of conformal coatings market for PCBs. Introduction of the novel and innovative electronic products in automotive, industrial, and consumer categories is another key reason behind the burgeoning demand for electronic components.
Electrification of the Automotive Industry to Open Pathways to Lucrative Opportunities
Growing consumer concerns about the environment and stringent government regulations are some of the vital factors driving the demand for electrification of the automotive industry. With evolving technology providing the platform for the process, the automotive industry is gradually transitioning towards the manufacturing of electric bikes and cars. Consequently, the transition is likely to bolster demand for PCBs in the automotive industry which, in turn, is expected to contribute significantly to the growth of conformal coatings market for PCBs.
Additionally, digitalization is gradually changing the face of automotive entertainment, control, and passenger comfort causing the integration of an increasing number of electronic components in automobiles to meet the growing consumer expectations. The factors are fuelling the demand for PCBs with higher-performance efficiency and durability in the automotive industry and are hence driving the proliferation of conformal coatings market for PCBs.
Cracking and Delamination in Conformal Coatings to Hamper the Growth of Conformal Coatings Market for PCBs
Cracking and delamination are the two major restraints observed in the conformal coatings market for PCBs. Delamination in conformal coatings usually occur due to the poor adhesion of coatings, it involves the removal of conformal coatings from PCBs leaving the area exposed, thereby, resulting in the damage. Meanwhile, extreme environments and high curing coatings resulting in the cracking is another major challenge facing the conformal coatings market for PCBs.
Conformal Coatings Market for PCBs – Competitive Landscape
Some of the leading players operating in the conformal coatings market for PCBs are Dow Corning, Henkel AG & KGaA, Chase Corporation, Shin Etsu Chemical Company Limited, Electrolube, H.B. Fuller Company, Europlasma N.V., AI Technology, Inc, KISCO Limited, Aalpha Conformal Coating, Chemtronics, MG Chemicals, HemiSeal, Global Manufacturing Services Inc., Specialty Coating Systems Inc., Dymax Corporation, and Cytec Industries Inc.
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