Conformal Coating Market Trends and Forecast
The future of the global conformal coating market looks promising with opportunities in the consumer electronic, aerospace & defense, automotive, industrial, and telecommunication markets. The global conformal coating market is expected to reach an estimated $1.9 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are growing demand for electronic devices, increasing use in automotive electronics, and rising need of protected electrical components.
• Lucintel forecasts that silicone is expected to witness the highest growth over the forecast period.
• Within this market, consumer electronic is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Conformal Coating Market
• United States: Dow announced a new eco-friendly conformal coating with reduced VOC emissions, aligning with government sustainability targets and addressing rising environmental concerns.
• China: Huawei partnered with local manufacturers to develop conformal coatings for 5G equipment, supporting China's national strategy for technological advancement and infrastructure development.
• Germany: BASF introduced a high-performance conformal coating for automotive electronics, targeting stringent quality standards set by German automotive manufacturers and regulatory bodies.
• India: Government initiatives to promote electronics manufacturing led companies like Wipro to invest in research for cost-effective and durable conformal coatings, supporting India's vision for self-reliance in electronics.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Conformal Coating Market by Segment
The study includes a forecast for the global conformal coating market by type, end use, and region.
Conformal Coating Market by Type [Value from 2018 to 2030]:
• Acrylic
• Epoxy
• Silicone
• Urethane
• Parylene
• Others
Conformal Coating Market by End Use [Value from 2018 to 2030]:
• Consumer Electronics
• Aerospace & Defense
• Automotive
• Industrial
• Telecommunication
• Others
Conformal Coating Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Conformal Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies conformal coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the conformal coating companies profiled in this report include-
• Henkel
• Illinois Tool Works
• Sealed Air
• Shin-Etsu Chemical
• Chase Corporation
• H.B. Fuller
• DOW
Recent Development in the Conformal Coating Market
• Henkel AG & Co. KGaA: Introduced a new silicone-based conformal coating with enhanced flexibility and durability, catering to the aerospace and defense sectors' stringent requirements for electronics protection.
• Electrolube Ltd: Launched a UV-curable conformal coating that offers rapid curing times and improved productivity for electronics manufacturers, addressing the industry's need for faster production cycles.
• Chase Corporation: Collaborated with major automotive OEMs to develop a specialized conformal coating with high thermal conductivity, targeting electric vehicle (EV) applications to enhance heat dissipation in electronic components.
• Kisco Conformal Coatings: Invested in advanced R&D for graphene-enhanced conformal coatings, aiming to provide superior protection against moisture and mechanical stress while reducing coating thickness and weight.
• Dymax Corporation: Announced the development of a new moisture-cure conformal coating with extended shelf life, addressing the industry's demand for longer storage stability and improved handling during application processes.
Features of the Global Conformal Coating Market
Market Size Estimates: Conformal coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Conformal coating market size by type, end use, and region in terms of value ($B).
Regional Analysis: Conformal coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, end uses, and regions for the conformal coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the conformal coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the conformal coating market size?
Answer: The global conformal coating market is expected to reach an estimated $1.9 billion by 2030.
Q2. What is the growth forecast for conformal coating market?
Answer: The global conformal coating market is expected to grow with a CAGR of 5.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the conformal coating market?
Answer: The major drivers for this market are growing demand for electronic devices, increasing use in automotive electronics, and rising need of protected electrical components.
Q4. What are the major segments for conformal coating market?
Answer: The future of the conformal coating market looks promising with opportunities in the consumer electronic, aerospace & defense, automotive, industrial, and telecommunication markets.
Q5. Who are the key conformal coating market companies?
Answer: Some of the key conformal coating companies are as follows:
• Henkel
• Illinois Tool Works
• Sealed Air
• Shin-Etsu Chemical
• Chase Corporation
• H.B. Fuller
• DOW
Q6. Which conformal coating market segment will be the largest in future?
Answer: Lucintel forecasts that silicone is expected to witness the highest growth over the forecast period.
Q7. In conformal coating market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the conformal coating market by type (acrylic, epoxy, silicone, urethane, parylene, and others), end use (consumer electronics, aerospace & defense, automotive, industrial, telecommunication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Conformal Coating Market Market, Conformal Coating Market Market Size, Conformal Coating Market Market Growth, Conformal Coating Market Market Analysis, Conformal Coating Market Market Report, Conformal Coating Market Market Share, Conformal Coating Market Market Trends, Conformal Coating Market Market Forecast, Conformal Coating Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.