Conformal Coatings Market (By Product: Parylene, Acrylic, Urethane, Epoxy, Silicone; By Application: Medical, Consumer Electronics, Automotive, Defense, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Published | Pages : 190

The global conformal coatings market size is expected to reach around US$ 16 billion by 2026 and growing at a noteworthy CAGR around 5.2 % from forecast period 2019 to 2026.

Conformal coatings are special film forming products which are used extensively to prevent difficult environmental circumstances for the circuit boards and other electronic parts. Superior features of these coatings include dielectric strength, abrasion resistance and operational integrity. They are divided into acrylic, silicon, polyurethane, epoxy and perylene. Among these, acrylic coating is commonly used thanks to its simple application and removal, elevated humidity resistance and fungal resistance.

The report provides analysis of global Conformal Coatings market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Insights

In order to safeguard printed circuit boards against dust, humidity, heating and other environmental effects, growing product demand from the consumer electronics sector should promote market growth over the projected era. Main players in sector focus on incorporating activities through the production and distribution of raw materials in order to gain competitive advantage in the market. Entering into the distribution sectors companies like Dow Corning Corporation and Shin Etsu Chemical Company have cut expenses to third-party intermediaries. Product demand in the United States in 2016 amounted to USD 2.15 billion. The existence of established automotive, aeronautical & defense and electronics industries is responsible for the country's large market share. Increasing demand is anticipated to drive industry development for durable coatings with superior resistance to corrosion.

H.B. Fuller, MG Chemicals, Chase, Dow Corning, are some of the major producers of conformal lacquer products. Most of these main players acquire raw materials through short-term relationships from established chemical players including BASF SE and Aditya Birla Chemical.

Acrylics account for approximately one third of the conformal coating industry because they are available, reparable and easy to use. As acrylics combine excellent environmental safety with sensible pricing, they are still commonly used in a compatible coating landscape by both big and small businesses. End-users are however anticipated to be increasing the use of silicone and waterbased polyurethane with a propensity to water-based and solvent-free conformal coating products in future.

Polyurethane provides great resistance to abrasion, and better moisture protection compared with conformal coatings acrylics. Furthermore, silicone has also been developed by a broad range of components with multiple characteristics and applications as one of the most widely used conformic coating materials. In the future leading producers are likely to concentrate on providing silicone and polyurethane conformity coatings, taking into account an growing implementation of silicone and polyurethane.

Product Stance

Acrylic, which is expected to grow at 6.0 percent, is the fastest product segment in the world. Its superior characteristics such as moisture resistance, simple implementation and rework removal are due to the elevated growth rate of the segment, making acrylic the preferential solution for end-use applications. Epoxy conformal coating is extremely solvent resistant and has dielectric characteristics that are appropriate on print circuit boards for applications in electronic systems. These layers are stiff and abrasion resistant, because they are used to produce home appliances and circuit boards.

Application Stance

In the production of automotive electronics, conformal coatings are employed in order to reduce vibration and mechanical stress. In particular in Asia-Pacific, the growing automotive sector and the growing demand of consumers for increased driving expertise will increase the demand in car products over the forecast period. Th e demand for medical products should increase over the forecast era to an estimated CAGR of 5,5%. Increasing demand for conformal coating technologies like treatments, respiratory care and imagery systems is anticipated to benefit the segment.

Regional Stance

It is expected that Asia Pacific will be the fastest increasing regional market with over 7% progress in the predicted CAGR. High investments in the electronics industry are anticipated to boost consumer demand in China, Taiwan, Japan and South Korea. In addition, India's fast development in the production of automotive and consumables is probable to drive product development in the area. In 2016, North America accounted for 26% of the worldwide conformal cover sector and is expected to expand at a CAGR of approximately 3.5% over the forecast era. The rising demand of sophisticated electronics in the automotive sector, including GPS devices and other associated items, is anticipated to increase demand for goods over the forecast era.

Growth Factors

There are major difficulties in the worldwide electronics industry in the near future. Some trends that indicate strong demand for compatible coatings between electronic manufacturing service providers include foldable smartphones, wearable electronics, independent driving, the Internet of Things (IoT), connected vehicles and 5 G revolution. The key players within the 5 G technology value chain will probably involve extremely reliable designs by the producers of printed circuit boards. The demand for conformal coatings is projected to increase in the near future.

Common features include leaks inhibition caused by environmental contamination, corrosion resistance, fatigue enhancement, arcing inhibition and corona dumping. Furthermore, conformal coatings give vibration and moisture resistance.

The early failure of a board reduces the impact of printed circuit boards (PCBs), protected with conformal coatings. The demand for better functionality and miniaturization is expected to increase in the near future, driving the conformal lamination sector. PCBs are expected to be reliable.

The two main features which medical PCB providers must attain in relation to accordance with rigorous medical rules are repetitiveness and reliability. These PCBs must be run without any technical mistakes. They must be shielded against exposure to hazardous environments to this end. Conformal coatings assist to prevent unwanted chemicals or other elements from being exposed.

Market Segmentation

Global Conformal Coatings Market, By Product

  • Parylene
  • Acrylic
  • Urethane
  • Epoxy
  • Silicone

Global Conformal Coatings Market, By Application

  • Medical
  • Consumer Electronics
  • Automotive
  • Defense
  • Others

Global Conformal Coatings Market, By Geography

  • North America.
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

The market research study on “Conformal Coatings Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Conformal Coatings market segments with market dynamics and their impact. The report also covers basic technology development policies.

Key Players & Strategies

Principle players in the market are Dow Corning, Henkel AG & KGaA, Shin-Etsu Chemical Company Limited, HB Fuller, and more.

Their position in this landscape has strengthened. By means of strategic investments and product innovations, leading businesses reinforce the foundations of conformal coating. For example, Shin-Etsu Chemical announced, in September 2018, that it will invest almost EUR 110 billion in its silicone company in anticipation of an rise in silicone demand. The firm concentrates on the growth of silicone monomer manufacturing capability at its primary bases in Japan and worldwide with this investment.

Other competitors on the conformal layering market are concentrated on product development in an effort to position themselves strongly in this capital intensive market. In January2019 for instance, Electrolube announced its development in multiple sectors of the end-use industry, including auto industry and electronics, of a new line of UV-cured conformal coating products which can lower manufacturing time to provide greater efficiency for producers.

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