Market Overview
Conformal coatings are widely used in electronic devices to
protect the devices from heat, moisture, corrosion and ultraviolet rays. These
coatings are classified into acrylic, epoxy, silicone, parylene, urethane, and
others. Acrylic is the most preferred type due to its strong dielectric
resistance property and ease in removing the coating. Increasing demand for
electronic devices in various applications such as telecommunication, medical
and automobile are propelling the market growth.
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These coatings are mainly used by the automotive and aerospace
industry in circuit boards to prevent the corrosion of conductors. The silicone
coating is increasingly used in automotive industry due to humidity resistance,
salt spray resistance and flexibility. Expanding automobile industry in the
developing regions due to rising automotive production & sales coupled with
improving the living standard of the consumers and is propelling the market
growth. The product demand is increasing in the marine industry due to its
superior properties such as high chemical resistance and humidity resistance.
Competitive Analysis
·
The Dow Chemical Industry (U.S.)
·
Specialty Coatings System Inc. (U.S.)
·
Global Manufacturing Services, Inc (U.S.)
·
HemiSeal (U.S.)
·
Henkel AG & Co.
·
KgaA (Germany), Chemtronics (India)
·
H.B.Fuller Company (U.S.)
·
Electrolube (UK)
·
Europlasma NV (Belgium)
·
Shin-Etsu Chemical Co., Ltd (Japan)
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Market Segmentation
The global Conformal Coatings Market has been segmented into
type, end-use industry, and region.
On the basis of the type, the market is divided into
acrylics, epoxy, urethane, silicone, parylene and others.
Based on end-use industry, the market is segmented into
electronics, automobile, aerospace, marine and others.
Geographically, the market is divided into five regions
including North America, Europe, Asia Pacific, Latin America, and the Middle
East & Africa.
Regional Analysis
North America was the dominant region in the global Conformal
Coatings Market due to its increasing use in the electronic devices
mainly in automobile and aerospace industry. Additionally, increasing
expenditure on consumer electronics mainly in home appliances, smart watches,
and wireless devices.
Europe is expected to drive the market growth due to the
introduction of high quality and technically advanced products. Increasing
expenditure on research and development in electronics by Germany is likely to
fuel the product demand in this region.
Asia Pacific region is growing substantially due to rapid
urbanization and digitalization in the developing economies such as India and
China. Moreover, implementation of various initiatives such as Smart City and
Startup in India is encouraging the Indian companies to focus on product
innovation and R&D.
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