The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global conformal coatings market during the period until 2026. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the conformal coatings market during the forecast period.
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Bolstering Electronics Production to Uphold Demand for Conformal Coatings
Exponential growth in electronics production is a vital factor driving the growth of conformal coatings market for PCBs. Technological breakthroughs in addition to the burgeoning demand for consumer electronics are some of the vital factors bolstering the growth of conformal coatings market for PCBs. Introduction of the novel and innovative electronic products in automotive, industrial, and consumer categories is another key reason behind the burgeoning demand for electronic components.
Owing to the growing demand for electronics, numerous companies are venturing into the market creating intense competition. Intensifying competition among different companies in the electronics market is promoting manufacturers seek for processes which are affordable and maintains performance efficiency in products. Printed circuit boards form an integral part of electronic products and their performance is vital to the durability and functioning of different products. Conformal coatings protect PCBs from dust, moisture, humidity, and extreme temperatures, thus ensuring the durability of electronic products. With competition on the rise, electronics manufacturers are increasingly seeking conformal coatings to enhance the quality of their products and consolidate their footing in the market.
Conformal coating manufacturers are increasingly marketing their products as ways to enhance the performance of PCBs. For instance, Dymax, a leading company operating in the conformal coatings market for PCBs launched a line of UV-cured conformable coatings claiming the product can enhance the performance of PCBs while aiding in the reduction of costs and maximization of profits.
Electrification of the Automotive Industry to Open Pathways to Lucrative Opportunities
Growing consumer concerns about the environment and stringent government regulations are some of the vital factors driving the demand for electrification of the automotive industry. With evolving technology providing the platform for the process, the automotive industry is gradually transitioning towards the manufacturing of electric bikes and cars. Consequently, the transition is likely to bolster demand for PCBs in the automotive industry which, in turn, is expected to contribute significantly to the growth of conformal coatings market for PCBs.
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PCBs often experience delamination which is the separation of the coatings from the surface of the circuit boards. The process occurs when poor adhesion and compatibility between coatings and printed circuit boards results in the contamination of the board which can significantly hamper its durability.
Subjecting printed circuit boards to high temperatures can cause cracking or delayering for conformal coatings. These factors pose a challenge to the growth of conformal coatings market for PCBs. Additionally, growing concerns about the concentration of volatile organic compounds in conformal coatings and their adverse impact on human health are creating a negative image of the use of coatings in electronics among consumers. The factor coupled with the fluctuating prices of raw materials is likely to stifle the growth of conformal coatings market for PCBs.
Conformal Coatings Market for PCBs – Competitive Landscape
The conformal coatings market for PCBs is expected to remain consolidated with leading players controlling the bulk of the market shares. The consolidated nature of the market can be attributed to the requirement of intensive capital investment and technical knowledge for the production of conformal coatings. Leading players operating in the conformal coatings market for PCBs are largely focusing on developing innovative and novel technologies to gain a competitive edge in the market.
Some of the leading players operating in the conformal coatings market for PCBs are Dow Corning, Henkel AG & KGaA, Chase Corporation, Shin Etsu Chemical Company Limited, Electrolube, H.B. Fuller Company, Europlasma N.V., AI Technology, Inc, KISCO Limited, Aalpha Conformal Coating, Chemtronics, MG Chemicals, HemiSeal, Global Manufacturing Services Inc., Specialty Coating Systems Inc., Dymax Corporation, and Cytec Industries Inc.
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Conformal Coatings Market Players Contribute Majorly towards Innovative Trends during 2018-2026
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