logo
logo
Sign in

Conformal Coatings for PCBs is Fastest Growing Segment Fueling the Growth of Global Conformal Coatings Market

avatar
kiran gire
Conformal Coatings for PCBs is Fastest Growing Segment Fueling the Growth of Global Conformal Coatings Market

Conformal Coatings for PCBs is Fastest Growing Segment Fueling the Growth of Global Conformal Coatings Market


The global Conformal Coatings Market is estimated to be valued at US$ 1332.71 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

Conformal coatings are thin protective layer or polymeric films that are applied to the surface of printed circuit boards (PCBs) and other electronic components as protection from moisture, dust, chemicals, and other environmental and handling hazards. Conformal coatings provide electrical insulation and mechanical protection.


Market key trends:

One of the major trends driving the growth of the market is increasing applications of conformal coatings in printed circuit board (PCB). PCBs require protection from external environmental factors such as moisture, chemicals, dust and dirt particles which can cause short circuits. Conformal coatings form a barrier providing protection for the circuits, contacts, and other components. The increasing demand for consumer electronics, automotive components, industrial equipment with advanced PCBs is expected to drive the demand for conformal coatings over the forecast period.

Segment Analysis

The conformal coatings market is segmented by type into acrylic, silicone, urethane, parylene, epoxy, polyurethane, and others. The silicone segment dominates the market and is expected to continue its dominance over the forecast period owing to its superior chemical and environmental resistance properties. Silicone conformal coatings provide excellent protection against moisture, dust, chemicals and temperature extremes.


Key Takeaways

The global conformal coatings market is expected to witness high growth, exhibiting a CAGR of 6.0% over the forecast period, due to increasing demand for protection of PCBs in various industries from moisture, contamination and corrosion.


Regional analysis

Asia Pacific region is expected to grow the fastest in the conformal coatings market owing to rapid industrialization and presence of key manufacturing hubs in countries like China and India. The region accounted for over 40% of the global market share in 2023. North America and Europe are also significant markets for conformal coatings.


Key players

Key players operating in the conformal coatings market are Altana, Chase Corp., CHT Ltd, Dow, Dymax, HK Wentworth Ltd, H.B. Fuller Company, Henkel AG & Co. KGaA, ITW, Kisco Ltd, MG Chemicals, Panacol-Elosol GmbH, Shin-Etsu Chemical Co. Ltd, and Momentive. The market leaders are focusing on new product development and expansion into high growth regions.

Read more: https://www.ukwebwire.com/conformal-coatings-market-size-share/


collect
0
avatar
kiran gire
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more