New York, NY 24 March 2020: The Global conformal coatings market size is expected to reach USD 17.3 billion by 2026, growing at a CAGR of 5.8% during the forecast period according to a new study published by Polaris Market Research. The Report ‘Conformal Coatings Market Share, Size, Trends, Industry Analysis Report, By Material Type (Acrylic, Epoxy, Urethane, Silicon, Parylene, and Others); By End-use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Marine, Medical, and Others), By Regions, Segments & Forecast, 2019 – 2026” provides a thorough and detailed analysis about the market with an overview of present trends and future insights.
Conformal coatings are a protective cover that could be a polymer or a chemical film which is applied on electronic circuits to give them long-lasting protection from moisture content and chemical contaminants in the air. These products maintain insulation cover, ensure continuity of circuit board components and oversee functional integrity of the circuit board.
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Huge market for consumer electronics, rapid strides in medical equipment and emergence of driverless cars are some of the important factors driving conformal coatings industry. Furthermore, rise in disposable incomes and dependence on sleek electronic devices such as mobile phones, laptops and other gadgets have fueled the growth of particular products that are mandatorily used in electronic components.
Automotive is one of the most far-reaching segments for these products. The development of hybrid cars is consistently empowered by technology and witnesses comfortably high growth rate being touted as an energy-efficient alternative. Electric cars and hybrid vehicles could give a more comfortable ride, optimum fuel efficiency and use more electronic gadgets, giving rise to sophistication that are the foundation of EV’s.
Initially, these products were the mainstays in medical and military products but with high cost per unit. But, with innovations and with rise of material science, prices have reduced considerably over the last few years. Recent technological nuances in the market include low viscosity solvent free conformal coating, parylene-like hydrophobic conformal coating, and single component conformal coating material to protect sensitive information on PCB’s.
These products are unique based on their material of formulation. These coatings are used, bringing to the fore their characteristics and required efficiency. Acrylic conformal coating is the largest product segment by material. Polyurethane, epoxy and parylene are amongst the fast-growing segments.
Most of the product manufacturers, device fabricators and Printed circuit board (PCB) assemblers favor conformal coatings for economic and environmental reasons though solvent based ones prop up performance. A move towards green chemicals has certain resins moving at a faster rate as compared to traditional ones such as acrylics.
The key players operating in the conformal coatings market includes Electrolube, Kisco Conformal Coatings, H.B. Fuller, Chase Corporation, Henkel AG & KGaA, Illinois Tool Works and Dow Corning.
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