February 07, 2022 04:35 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The Global Electronics Conformal Coating Market size is expected to reach USD 1182.69 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.82% during the forecast period. The growth of consumer electronics industry with increasing need of protection for printed circuit boards from moisture, dust, heating, is anticipated to drive the market growth, states Vantage Market Research, in a report, titled “Electronics Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane), by End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Telecommunication), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size stood at USD 851.81 Million in 2021.
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List Of Prominent Players in the Electronics Conformal Coating Market:
The COVID-19 outbreak has affected various industries worldwide. The Electronics Conformal Coating Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:
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Technological Advancements to Drive Market Growth
The increasing demand of the vehicles and automotive electronics is anticipated to create huge demand for Electronics Conformal Coating Market in coming years. Increasing adoption of electric vehicles with its advanced components is another factor driving the Electronics Conformal Coating Market. The coatings are for the protection of necessary electronic installations in vehicle. The global manufacturer of the electro-chemicals, Electrolube, has launched six next generation UV cure conformal coating products. In order to protect the sensors of EV vehicles and for restoring the quality of systems from environment is generating demand for safety & luxury conformal coatings features.
Wide Range Application to Boost the Market
The growth of the Electronics Conformal Coating Market is due to high demand for miniaturized electronics, circuitry as well as several advanced PCB related applications. Conformal coatings solutions, has remarkable combination of superior performance with reliability in different industry verticals like in defence, aerospace and marine, are adopting the right level of protection.
High demand for developing high-end applications, along with the growing prevalence of PCB manufacturers for designing the durable coatings with premium corrosion resistance features. Therefore, the usage of conformal coating in portable and wireless consumer electronic products is increasing and fuelling the Electronics Conformal Coating Market growth.
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Development in Consumer Electronics and Automotive Sector Augment Growth in Asia Pacific
Asia Pacific is anticipated to have the significant share of Electronics Conformal Coating Market. The major investments in consumer electronics by countries like China, Taiwan, Japan, and South Korea is expected to boost the product demand. Additionally, growth & development in automotive sector in India is likely to drive market growth in the region. The expansion of autonomous vehicles has brought new opportunities for electronic coatings, further propelling the growth of the market.
Recent Developments in the Industry:
1. October 2021: Dow introduced new DOWSIL CC-2588 Conformal Coating, a tough, abrasion resistant silicone-based material that protects printed circuit boards (PCBs) and electronic components against high humidity and corrosion. This highly reliable silicone-based coating is virtually odourless and offers extremely low volatile organic compounds (VOCs). DOWSIL CC-2588 Conformal Coating cures at room temperature for reduced energy consumption, supports spraying for higher throughputs and enables automated inspection equipment to use ultraviolet light (UV) to identify any voids in the conformal coating.
2. March 2019: H.B. Fuller Japan will strengthen its Engineering Adhesive (EA) businesses in Japan by focusing on high-performance adhesives, including reactive adhesive chemistries and applications.
Browse market data Tables and Figures spread through 155 Pages and in-depth TOC on "Electronics Conformal Coating Market by Type (Acrylic, Silicone, Epoxy, Urethane), by End-Use (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Telecommunication), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/electronics-conformal-coating-market-689863
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