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Electronics Conformal Coating Market - Forecast(2024 - 2030)
Electronics Conformal Coating Market Overview
The Electronics Conformal Coating Market size is forecast to reach $1.290 billion by 2026, growing at a CAGR of 6.1% in the period 2021-2026. The Electronics Conformal Coating is a protective coating or polymer, designed to protect the circuit board topology and other electronic components from corrosion, and enhance the service life. The growth of the Electronics Conformal Coating Industry is primarily driven by the intensifying demand of miniaturized electronics, circuitry and various advanced PCB-related applications. Due to the remarkable combination of superior performance and reliability of conformal coatings solution, several industry verticals such as defense & aerospace, marine, automotive and electronic are adopting the right level of protection. In fact, the promising demand for developing high end applications, such as medical equipment, along with the growing prominence of PCB manufacturers for designing durable coatings with premium corrosion resistance features with the use conformal coatings are observed to boost to market opportunities. Therefore, growing uses of conformal coating in wireless and portable consumer electronic products, as well as integrated electronic circuitry, printed circuit board fabrication, and other vast arrays of application, are estimated to drive the growth of the Electronics Conformal Coating Market.
Electronics Conformal Coating Market Report Coverage
The report: “Electronics Conformal Coating Industry Outlook – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Electronics Conformal Coating Industry Outlook.
By Types: Acrylic, Polyurethane, Hybrid, Silicone, Epoxy and Others
By Operating Methods: Manual & Automated Spraying, Brushing, Dipping and Others
By Technology: Solvent-based, Water-based and UV Cured
By Application: Appearance, Moisture and insulation resistance, UV fluorescence, Flammability, Thermal shock, Adhesive and Others
By Industry Verticals: Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication, Marine, Medical, and Others
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others)and RoW (Middle east and Africa)
Key Takeaways
- Asia Pacific dominated the Electronics Conformal Coating Market in 2020 with a share of 39%, owing to the growing consumer electronics market, which leads to potential venture of significant number of PCB manufacturers, such as Ascent Circuits Pvt. Ltd, Kawasaka Process Co., Ltd, AC Synergy PTE Ltd in the region.
- The Acrylic coating type is analyzed to register the highest share in 2020, and grow at a CAGR of 5.6% during the forecast period, owing to the fair elasticity and general protection to the board's components and wide array of applications.
- The constant evolution of premium capabilities of medical components to monitor, diagnose and treat patients has accelerated the demand of Parylene conformal coatings for aiming biostable and biocompatible design, which eventually drive the growth of market.
Electronics Conformal Coating Market, By Region 2020
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Electronics Conformal Coating Market Segment Analysis – By Types
By Types, the Electronics Conformal Coating Market is segmented into Acrylic, Polyurethane, Hybrid, Silicone, Epoxy and Others. The Acrylic coating type is analyzed to register the highest share in 2020, and grow at a CAGR of 5.6% during the forecast period, owing to the fair elasticity and general protection to the board's components and wide array of applications. The Acrylic coating is easily applied and removed and also, considered to be an affordable option in comparison to others for various end users. In March 2021, a leading global supplier of liquid and powder coatings, Axalta introduced Imron Industrial 2100 HG-C high-gloss clearcoat into its existing high-performance Imron Industrial portfolio in North America. The Imron Industrial 2100 HG-C high-gloss clearcoat is formulated to repair the damage areas quickly as it melts quickly and flows smoothly. The new clear coat is based on proprietary Axalta resin technology and produces both polyester and acrylic urethane properties for providing high-quality appearance applications. Thus, the growing demand of industry specifications coating and launches of clearcoat formulas are estimated to drive the Electronics Conformal Coating Market.
Electronics Conformal Coating Market Segment Analysis – By Industry Verticals
By Industry Verticals, the Electronics Conformal Coating Market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Telecommunication, Marine, Medical, and Others. The Industrial and Telecommunication held the highest share, and estimated to register a CAGR of 11.23% during the forecast period, owing to the emergence of numerous advanced electronic assemblies and rapid transformation of consumer demands. In January 2020, the global market leader in electro-chemical solutions, Electrolube decided to launch an innovative range of UV Conformal Coatings, Thermal Management solutions and Encapsulation Resins at IPC APEX EXPO, held at the San Diego Convention Centre, CA. At Expo, Electrolube demonstrated a range of advanced solutions for a multitude of applications, including printed circuit board, housing electronic components, LEDs and fiber optic telecoms equipment, power electronics and many more. Thus, the growing demand of sophisticated collating solutions, such as epoxy and other selective conformal coating for potential performance are some of the factors that induce the growth of the Electronics Conformal Coating Industry.
Electronics Conformal Coating Market Segment Analysis – By Geography
Asia Pacific dominated the Electronics Conformal Coating Market in 2020 with a share of 39%, owing to the growing consumer electronics market, which leads to potential venture of significant number of PCB manufacturers, such as Ascent Circuits Pvt. Ltd, Kawasaka Process Co., Ltd, AC Synergy PTE Ltd in the region. Consequently, the automotive industry is also advancing that leads to the growth of the Electronics Conformal Coating Industry in this region. In September 2020, Covestro acquired the leading sustainable coating resins business from DSM. The acquisition of the Resins & Functional Materials business (RFM) from Royal DSM promoted the portfolio of Covestro in the market of sustainable coating resins, Coatings, Adhesives, Specialties (CAS) segment. Furthermore, the rapid penetration of digitalization is influencing the other market significantly as it requires the integration of high volume of electronic components. In November 2019, Teko Tinting and Engineering, the Asia-based member of the Inkmaker Group launched its XCELR8 in Jakarta, Indonesia to cater the strong demand from ink, coating and chemical manufacturers. The XCELR8 is the top Polymers, thickeners and surfactants (POS) solutions that enable manufactures with customizable specifications. Therefore, the evolving technology and the growing investment for innovative conformal coating formulation contribute significantly to the growth of the Electronics Conformal Coating Market.
Electronics Conformal Coating Market Drivers
Rise in the Demand Of Automotive Conformal Coatings
The growing demand of automotive electronics, pertinent to vehicles and other technology advancement for the automotive ecosystem is estimated to drive the Electronics Conformal Coating Market. The introduction of Electric vehicles with advanced components boosts the demand for conformal coatings to protect the necessary electronic installations. In October 2019, the global manufacturer of electro-chemicals, Electrolube, launched six next generation UV cure conformal coating products at Productronica, held in Munich. The Electrolube’s UV Cure coatings, is the innovative new UVCL range, is designed for various requirements and higher levels of performance of electronics, LED and automotive manufacturers. Hence, in order to protect the sensors of the EV vehicles, and restore the quality of the systems from the environment are leading the demand for safety and luxury conformal coatings features, which accelerate the growth of the Electronics Conformal Coating Market.
Growing Demand Of Medical Conformal Coating Solutions
The constant evolution of premium capabilities of medical components to monitor, diagnose and treat patients has accelerated the demand of Parylene conformal coatings for aiming biostable and biocompatible design, which eventually drive the growth of Electronics Conformal Coating Market. In October 2020, global leader in the manufacturing of conformal coatings, HumiSeal® announced the successful testing of its industry standard UV40 conformal coating to ISO 10993-5 cytotoxicity standards. The industry standard UV40 conformal coating ensures various electronics manufacturers across the globe to serve the medical device industry with increased confidence while using UV40 in PCBs. In order to achieve durability and complete protection of medical devices and other wearable technologies from dust, abrasion, humidity, liquids, and chemicals, the Specialty Coating Systems provide an additional level of confidence, which drives the growth of the Electronics Conformal Coating Market.
Electronics Conformal Coating Market Challenges
High Price of Conformal coating technology
The advancement of Conformal Coating technology is serving various industries due to the specifically designed features, which offer absolute protection from harsh operating environments. owever, the expensive investment to achieve such end result and optimum protective conformal coating shields limits the scope for the various mid-sized enterprises to implement. In fact, several conformal coating manufactures are also investing to lower down the manufacturing cost due to the rising raw material price to seek the exact level of quality coating solution. Thus, high price in respect to managing quality conformal coating technology represents a hindrance to the growth of the Electronics Conformal Coating Market.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Electronics Conformal Coating Market. The Electronics Conformal Coating Market top 10 companies include Dow, Henkel, Chase Corporation, H.B. Fuller, Electrolube Limited, Shin-Etsu Chemical Company Ltd., Henkel AG & Co, Dymax Corp., Quantum Silicones,
Partnerships/Product Launches/Contracts
- In February 2020, Dow introduced new DOWSIL™ CC-8030 UV and Moisture Dual Cure Conformal Coating, the first solvent less silicone conformal coating with UV and moisture dual cure for high-volume electronics manufacturing at IPC APEX EXPO 2020. This new environmentally responsible silicone technology of Dow offers sustainability, health and safety while minimizing processing expenditure through fast automated spraying, and energy-efficient UV curing application.
- In March 2019, H.B Fuller announced the business expansion with the establishment of the H.B. Fuller Japan G.K to strengthen its Engineering Adhesive (EA) businesses in Japan. The engineering adhesive business in Japan offers high-performance adhesives to transportation, electronics, and aerospace, renewable energies and medical sectors.
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1. Electronics Conformal Coating Market Overview
1.1 Definitions and Scope
2. Electronics Conformal Coating Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Electronics Conformal Coating Market Type
2.3 Key trends segmented by Geography
3. Electronics Conformal Coating Market
3.1 Comparative Analysis
3.1.1 Product/Service Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis
4. Electronics Conformal Coating Market – By Startup Company Scenario (Premium)
4.1 Investment
4.2 Revenue
4.3 Venture Capital Funding
5. Electronics Conformal Coating Market – By Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework
5.2 Customer Analysis
5.3 Case Studies
5.4 Ease of Doing Business Index
6. Electronics Conformal Coating Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Network of new entrants
6.3.4 Rivalry among existing players
6.3.5 Network of substitutes
7. Electronics Conformal Coating Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
7.4 Vendors & Partners
8. Electronics Conformal Coating Market – By Types
8.1 Acrylic
8.2 Polyurethane
8.3 Hybrid
8.4 Silicone
8.5 Epoxy
8.6 Others
9. Electronics Conformal Coating Market – By Operating Methods
9.1 Manual & Automated Spraying
9.2 Brushing
9.3 Dipping
9.4 Others
10. Electronics Conformal Coating Market – By Technology
10.1 Solvent-based
10.2 Water-based
10.3 UV Cured
11. Electronics Conformal Coating Market – By Application
11.1 Appearance
11.2 Moisture and insulation resistance
11.3 UV fluorescence
11.4 Flammability
11.5 Thermal shock
11.6 Adhesive
11.7 Others
12. Electronics Conformal Coating Market – By Industry Verticals
12.1 Consumer Electronics
12.2 Automotive
12.3 Aerospace & Defense
12.4 Industrial and Telecommunication
12.5 Marine
12.6 Medical
12.7 Others
13. Electronics Conformal Coating Market – By Region
13.1 North America
13.1.1 U.S
13.1.2 Canada
13.1.3 Mexico
13.2 Europe
13.2.1 Germany
13.2.2 France
13.2.3 UK
13.2.4 Italy
13.2.5 Spain
13.2.6 Russia
13.2.7 Others
13.3 APAC
13.3.1 China
13.3.2 Japan
13.3.3 South Korea
13.3.4 India
13.3.5 Australia
13.3.6 Others
13.4 South America
13.4.1 Brazil
13.4.2 Argentina
13.4.3 Others
13.5 Rest of World (RoW)
13.5.1 Middle East
13.5.2 Africa
14. Electronics Conformal Coating Market - Industry Landscape Analysis (Premium)
14.1 Market Share by Region
14.2 Market Share by Industry
14.3 Market Share by Type
15. Electronics Conformal Coating Market - Key Companies by Country (Premium)
16. Electronics Conformal Coating Market Entropy
16.1 New Product Launches
16.2 M&As, Collaborations, JVs and Partnerships
17. Electronics Conformal Coating Market - Company Analysis
17.1 Dow
17.2 Henkel
17.3 Chase Corporation
17.4 H.B. Fuller
17.5 Electrolube Limited
17.6 Company- 6
17.7 Company- 7
17.8 Company- 8
17.9 Company-9
17.10 Company- 10
18. Electronics Conformal Coating Market – Appendix
18.1 Abbreviations
18.2 Sources
19. Electronics Conformal Coating Market – Methodology
19.1 Research Methodology
19.2 Company Expert Interviews
19.3 Industry Databases
19.4 Associations
19.5 Company News
19.6 Company Annual Reports
19.7 Project Trends
19.8 New Products and Product Database
19.9 Company Transcripts
19.10 R&D Trends
19.11 Key Opinion Leaders Interviews
19.12 Supply and Demand Trends
LIST OF TABLES
1.Global Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)1.1 Curing System Market 2019-2024 ($M) - Global Industry Research
1.2 Coating & Dispensing System Market 2019-2024 ($M) - Global Industry Research
1.3 Inspection System Market 2019-2024 ($M) - Global Industry Research
2.Global Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
2.1 Acrylic Market 2019-2024 ($M) - Global Industry Research
2.2 Polyurethane/Urethane Market 2019-2024 ($M) - Global Industry Research
2.3 Silicone Market 2019-2024 ($M) - Global Industry Research
2.4 Epoxy Market 2019-2024 ($M) - Global Industry Research
2.5 Parylene Market 2019-2024 ($M) - Global Industry Research
3.Global Electronics Conformal Coating Market, By Equipment Market 2019-2024 (Volume/Units)
3.1 Curing System Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Coating & Dispensing System Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Inspection System Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Electronics Conformal Coating Market, By Material Market 2019-2024 (Volume/Units)
4.1 Acrylic Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Polyurethane/Urethane Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Silicone Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Epoxy Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Parylene Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)
5.1 Curing System Market 2019-2024 ($M) - Regional Industry Research
5.2 Coating & Dispensing System Market 2019-2024 ($M) - Regional Industry Research
5.3 Inspection System Market 2019-2024 ($M) - Regional Industry Research
6.North America Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
6.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
6.2 Polyurethane/Urethane Market 2019-2024 ($M) - Regional Industry Research
6.3 Silicone Market 2019-2024 ($M) - Regional Industry Research
6.4 Epoxy Market 2019-2024 ($M) - Regional Industry Research
6.5 Parylene Market 2019-2024 ($M) - Regional Industry Research
7.South America Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)
7.1 Curing System Market 2019-2024 ($M) - Regional Industry Research
7.2 Coating & Dispensing System Market 2019-2024 ($M) - Regional Industry Research
7.3 Inspection System Market 2019-2024 ($M) - Regional Industry Research
8.South America Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
8.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
8.2 Polyurethane/Urethane Market 2019-2024 ($M) - Regional Industry Research
8.3 Silicone Market 2019-2024 ($M) - Regional Industry Research
8.4 Epoxy Market 2019-2024 ($M) - Regional Industry Research
8.5 Parylene Market 2019-2024 ($M) - Regional Industry Research
9.Europe Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)
9.1 Curing System Market 2019-2024 ($M) - Regional Industry Research
9.2 Coating & Dispensing System Market 2019-2024 ($M) - Regional Industry Research
9.3 Inspection System Market 2019-2024 ($M) - Regional Industry Research
10.Europe Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
10.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
10.2 Polyurethane/Urethane Market 2019-2024 ($M) - Regional Industry Research
10.3 Silicone Market 2019-2024 ($M) - Regional Industry Research
10.4 Epoxy Market 2019-2024 ($M) - Regional Industry Research
10.5 Parylene Market 2019-2024 ($M) - Regional Industry Research
11.APAC Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)
11.1 Curing System Market 2019-2024 ($M) - Regional Industry Research
11.2 Coating & Dispensing System Market 2019-2024 ($M) - Regional Industry Research
11.3 Inspection System Market 2019-2024 ($M) - Regional Industry Research
12.APAC Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
12.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
12.2 Polyurethane/Urethane Market 2019-2024 ($M) - Regional Industry Research
12.3 Silicone Market 2019-2024 ($M) - Regional Industry Research
12.4 Epoxy Market 2019-2024 ($M) - Regional Industry Research
12.5 Parylene Market 2019-2024 ($M) - Regional Industry Research
13.MENA Electronics Conformal Coating Market, By Equipment Market 2019-2024 ($M)
13.1 Curing System Market 2019-2024 ($M) - Regional Industry Research
13.2 Coating & Dispensing System Market 2019-2024 ($M) - Regional Industry Research
13.3 Inspection System Market 2019-2024 ($M) - Regional Industry Research
14.MENA Electronics Conformal Coating Market, By Material Market 2019-2024 ($M)
14.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
14.2 Polyurethane/Urethane Market 2019-2024 ($M) - Regional Industry Research
14.3 Silicone Market 2019-2024 ($M) - Regional Industry Research
14.4 Epoxy Market 2019-2024 ($M) - Regional Industry Research
14.5 Parylene Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Electronics Conformal Coating Market Revenue, 2019-2024 ($M)2.Canada Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
3.Mexico Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
4.Brazil Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
5.Argentina Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
6.Peru Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
7.Colombia Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
8.Chile Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
9.Rest of South America Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
10.UK Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
11.Germany Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
12.France Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
13.Italy Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
14.Spain Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
15.Rest of Europe Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
16.China Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
17.India Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
18.Japan Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
19.South Korea Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
20.South Africa Electronics Conformal Coating Market Revenue, 2019-2024 ($M)
21.North America Electronics Conformal Coating By Application
22.South America Electronics Conformal Coating By Application
23.Europe Electronics Conformal Coating By Application
24.APAC Electronics Conformal Coating By Application
25.MENA Electronics Conformal Coating By Application
26.Chase Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Nordson Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Precision Valve & Automation, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Dow Corning Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Electrolube, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Shin-Etsu Chemical Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Henkel Ag & Co. Kgaa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Dymax Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Chemtronics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Peter Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Mg Chemical Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)