The Global Conformal Coatings Market size is expected to reach $14 billion by 2025, rising at a market growth of 5.44% CAGR during the forecast period.
The rising demand from consumer electronics sectors, to safeguard PCBs from heating, moisture, dust, heating, and other environmental influences is predicted to fuel the market growth.
Key market players are directing their efforts on backward and forward integration to enhance their competitiveness in the market. Companies are also venturing into the distribution channels to aim a cost cutting and access more control on logistics. Further, the presence of manufacturers, suppliers and new entrants in large numbers is making the competition in Conformal Coatings market quite high. Owing to the fast growth of the market, many market players are also adopting the mergers and acquisitions as one of the key strategy to gain a hold on market share thereby strengthening their core competencies.
The rise in demand for durable electronic devices along with the increase in requirement for automation platforms across sectors is fuelling the market growth for Conformal Coatings globally. In addition the strong market penetration of the product across number of industries and advanced technologies deployed for product manufacturing is further augmenting the demand of the conformal coatings in the market.
Based on the Application, the market is segmented into Electronics, Medical, Automotive, Aerospace & Defense and Others. Based on Product, the market is segmented into Acrylic, Silicone, Epoxy, Urethane and Parylene.
Asia Pacific is expected to grow at the fastest growth rate among other regions, globally. With the substantial investments by the electronic device manufacturers especially in China, India, Taiwan, Japan and South Korea is boosting the demand for Conformal Coatings market in Asia Pacific region.
Recent strategies deployed in Conformal Coatings Market
Partnerships, Collaborations, and Agreements:
- Aug-2019: Dymax collaborated with Dorigo in which Dorigo will install Dymax UVCS 2.0 Conveyer in order to improve the conformal coating quality.
- Nov-2018: Dymax announced its partnership with Biesterfeld for developing light-curing industrial adhesives and curing systems.
- Oct-2018: Henkel came into partnership with Aculon in which Henkel can manufacture and market the NanoProof series of waterproofing products of Aculon.
Acquisition and Mergers:
- Sep-2017: H.B. Fuller acquired Royal Adhesives & Sealants in order to expand its adhesives business.
- Oct-2016: Chase announced the acquisition of Resin Design LLC in order to expand its business in advanced adhesives and sealants.
- Jan-2016: Kisko took over Specialty Coating Systems, Inc. in order to deliver high quality parylene technologies and services.
Product Launches and Product Expansions:
- Sep-2019: Henkel has unveiled Hysol PC62, a quick drying, toluene-free conformal coating system in order to provide mechanical and environmental protection to PC boards.
- Sep-2019: Dymax launched Multi-Cure 9451, conformal coating A True Black Color in order to deliver enhanced protection for PCB performance.
- Jun-2019: Henkel introduced Loctite Liofol LA 2798, adhesive solution for high-performance packaging applications.
- Feb-2018: HumiSeal, a Chase company introduced adhesives and encapsulation solutions which comprises of epoxy, urethane, and acrylate which offers protection from chemical attack, mechanical stress, and moisture ingress.
- Mar-2019: H.B. Fuller expanded its global reach to Japan by opening a new subsidiary, H.B. Fuller Japan G.K. in order to enhance its adhesives business.
- Sep-2018: Shin-Etsu expanded its business to Japan and internationally by making investments in its silicon business in which the company will focus on developing products ranging from silicon monomer to end-products.
Scope of the Study
- Aerospace & Defense
- MG Chemicals Ltd.
- Europlasma NV
- H.B. Fuller Company
- Shin-Etsu Chemical Co., Ltd.
- Chase Corporation
- Dymax Corporation
- Kisco Conformal Coatings, LLC
- The Dow Chemical Company (Dow Corning Ltd.)
- Henkel AG & Company, KGaA
- Illinois Tool Works Inc.
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