The growth of the market is driven by the increase in demand from emerging markets for conformal coatings and high demand for printed circuit boards in the automotive & transport and electronics industries.
New York, NY -- (SBWIRE) -- 03/05/2021 -- The Conformal Coatings Market is forecast to grow from USD 10.59 billion in 2018 to USD 15.25 billion by 2026, at a CAGR of 4.5%, during the forecast period. The market is driven by the increase in demand from emerging markets for conformal coatings and high demand for printed circuit boards in the automotive & transport and electronics industries.
Conformal coatings consists of unique properties like high resistance to dust, salts, moisture, corrosion, high temperature and humidity and increase in reliability of electronic equipment by 5 years. Costly replacement and repair in the event of damage and technological constraints in the application, preparation and drying of conformal coatings are the major restrictions for the market.
Major players in the industry are focusing on integrating their operations by entering the manufacturing and distribution sectors of raw materials to gain a competitive edge in the market. Companies have adopted partnerships, agreements and collaboration to expand their market share and distribution network in addition to new product development and expansion.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Conformal Coatings market and profiled in the report are:
Henkel (Germany), Illinois Tool Works (US), Shin-Etsu Chemical Co., Ltd (Japan), DOW Corning (US), H.B. Fuller (US), Chase Corporation (US), Europlasma NV (Belgium), MG Chemicals (Canada), Dymax Corporation (US) and Kisco Conformal Coatings LLC (US).
The research study further covers the expansion and scope of the market in the key geographies across the globe. It assesses the scope of the market on a global as well as country-wise level. The market is spread across the key regions that include: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides a comprehensive analysis of the production and consumption patterns, import and export ratio, supply and demand dynamics, key trends and demands, consumer behavior, and presence and operations of prominent players in each region of the market.
The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.
The report further segments the market on the basis of product types and application spectrum offered by the market.
Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
Coating Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
Selective Coating by Machine
Application (Kilo Tons) (Revenue, USD Million; 2016-2026)
Automotive & Transportation
Aerospace & Defense
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Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Conformal Coatings Segmentation & Impact Analysis
4.1. Conformal Coatings Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Conformal Coatings market and its competitive landscape.
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