Conformal Coatings Market by Type (Acrylics, Epoxy, Urethane, Silicone, Parylene, and Others), by End-Use Industry (Automotive & Transportation, Electronics, Aerospace & Defense, Industrial, Marine, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Global Trends & Forecasts to 2021
The conformal coatings market size is estimated to reach USD 12.28 billion by 2021 at a CAGR of 4.7% between 2016 and 2021. Easy to apply and repair, and resistance to dust, moisture, solvents, high temperatures, and humidity are the key properties of conformal coatings, which make it the preferred material for various applications.
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"Urethane-the fastest-growing type of conformal coatings"
The urethane conformal coatings segment is estimated to be the fastest-growing type in the conformal coatings market. The rising demands for conformal coatings with excellent chemical and corrosion resistant properties drive this segment in the conformal coatings market. Urethane conformal coatings are used in the marine industry, as it offers exceptional chemical and abrasion resistance. Polyurethane conformal coatings offer good dielectric properties with excellent humidity and are cost-effective.
"Rising demand in Asia-Pacific-the major growth driver for the conformal coatings market"
In 2015, Asia-Pacific dominated the conformal coatings market due to rapidly increasing electronics and automotive industries. The Asia-Pacific region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India. China is the largest market for conformal coatings globally with major demand from the electronics industry. Growing innovation & development and rising demand in the industrial sector for novel and improved products are directly affecting the rise in the use of conformal coatings. The excessive growth and innovation, along with industry consolidations, are projected to ascertain a bright future for the industry in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
* By Company Type - Tier 1 - 37%, Tier 2 - 50%, and Others - 13%
* By Designation - C level - 50%, Director level - 31%, and Others - 19%
* By Region - North America - 31%, Europe - 38%, Asia-Pacific - 25%, and RoW- 6%
The key companies profiled in this market research report are Chase Corporation (U.S.), Henkel AG & KGaA (Germany), Illinois Tool Works (U.S.), Shin-Etsu Chemical Company Limited (Japan), Dow Corning (U.S.), H.B. Fuller (U.S.), Electrolube (U.K.), Europlasma NV (Belgium), MG Chemicals (Canada), and Kisco Conformal Coatings (Japan).
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Conformal Coatings Market - Global Trends & Forecasts to 2021 - New Report Available
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001