LONDON--(BUSINESS WIRE)--The global conformal coating market size is poised to reach USD 300.28 million by 2023, according to a new report by Technavio, progressing at a CAGR of 6% during the forecast period.
Read the 179-page research report with TOC on "Conformal Coating Market Analysis Report by application method (spray coating, brush coating, selective coating, dip coating, vapor deposition), by type (acrylic, silicone, epoxy, urethane, paraxylene, and other types), by application (consumer electronics, automotive electronics, aerospace and defense electronics, medical electronics, other applications) and by geographical regions (North America, Europe, APAC, South America, and MEA) 2019 - 2023". Request Free Sample Pages
The market is driven by the increasing demand for smart wearables and IoT devices. In addition, increasing use of automation in industries is anticipated to further boost the conformal coating market during the forecast period.
Consumer electronics and communication devices are major application areas for conformal coating. The sales of mobile phones have grown exponentially over the past two decades, driven by technological innovations and a decline in the prices of electronic components. Moreover, to keep these devices running for a long duration, device manufacturers are using advanced coating technology solutions. Therefore, the exponential increase in smartphones, wearables, and IoT devices will boost the growth of the global conformal coatings market during the forecast period.
Furthermore, the increase in automation across all sectors in the global economy especially in the manufacturing sector is expected to become a driving force for the global conformal coating market during the forecast period. Several companies are facing an erosion in profit margins due to the increase in the cost of labor, coupled with manufacturing overcapacity in some countries. These factors are pushing manufacturers to adopt automation as the advantages of automated robots and machines outweigh the costs in the long run. The use of conformal coatings in electronic equipment play a vital role, as downtime of any particular machine or workstation in a production line causes the entire production line to halt. Thus, industrial automation will boost the use of conformal coating during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Chase Corp.
- Daikin Industries Ltd.
- Dymax Corp.
- H K Wentworth Ltd.
- H.B. Fuller Co.
- Henkel AG & Co. KGaA
- KISCO Ltd.
- MG Chemicals
- Shin-Etsu Chemical Co. Ltd.
- The Dow Chemical Co.
Market Segmentation by Category and Product Types:
The Conformal Coating Market can be broadly categorized into the following application method:
- Spray coating
- Brush coating
- Selective coating
- Dip coating
- Vapor deposition
Key Regions for the Conformal Coating Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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