Global Conformal Coatings Market By the Application (Electronics, Medical, Automotive, Aerospace & Defense and Others) By Product (Acrylic, Silicone, Epoxy, Urethane and Parylene) By Region, Industry Analysis and Forecast, 2019 - 2025
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The Global Conformal Coatings Market size is expected to reach $14 billion by 2025, rising at a market growth of 5.44% CAGR during the forecast period. The rising demand from consumer electronics sectors, to safeguard PCBs ( printed circuit boards) from heating, moisture, dust, heating, and other environmental influences is predicted to fuel the market growth.
Global Conformal Coatings Market Size
Key market players are directing their efforts on backward and forward integration to enhance their competitiveness in the market. Companies are also venturing into the distribution channels to aim a cost cutting and access more control on logistics. Further, the presence of manufacturers, suppliers and new entrants in large numbers is making the competition in Conformal Coatings market quite high. Owing to the fast growth of the market, many market players are also adopting the mergers and acquisitions as one of the key strategy to gain a hold on market share thereby strengthening their core competencies.
The rise in demand for durable electronic devices along with the increase in requirement for automation platforms across sectors is fuelling the market growth for Conformal Coatings globally. In addition the strong market penetration of the product across number of industries and advanced technologies deployed for product manufacturing is further augmenting the demand of the conformal coatings in the market.
Global Conformal Coatings Market Share
Based on the Application, the market is segmented into Electronics, Medical, Automotive, Aerospace & Defense and Others. Based on Product, the market is segmented into Acrylic, Silicone, Epoxy, Urethane and Parylene. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific is expected to grow at the fastest growth rate among other regions, globally. With the substantial investments by the electronic device manufacturers especially in China, India, Taiwan, Japan and South Korea is boosting the demand for Conformal Coatings market in Asia Pacific region.
Free Valuable Insights: Global Conformal Coatings Market to reach a market size of $14 billion by 2025
Conformal Coatings Market Cardinal Matrix
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Henkel AG & Co. KgaA, Illinois Tyools Works, Inc., Shin-Etsu Chemicals Co., Ltd., and The Dow Chemical Company (Dow Corning Ltd.) are some of the forerunners in the Conformal Coatings Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MG Chemicals Ltd., Europlasma NV, H.B. Fuller Company, Shin-Etsu Chemical Co., Ltd., Chase Corporation, Dymax Corporation, Kisco Conformal Coatings, LLC, The Dow Chemical Company (Dow Corning Ltd.), Henkel AG & Company, KGaA and Illinois Tool Works Inc.
Recent Strategies Deployed in Conformal Coatings Market
» Collaborations, Partnerships and Agreements:
- Aug-2019: Dymax collaborated with Dorigo in which Dorigo will install Dymax UVCS 2.0 Conveyer in order to improve the conformal coating quality.
- Nov-2018: Dymax announced its partnership with Biesterfeld for developing light-curing industrial adhesives and curing systems.
- Oct-2018: Henkel came into partnership with Aculon in which Henkel can manufacture and market the NanoProof® series of waterproofing products of Aculon.
» Acquisition and Mergers:
- Sep-2017: H.B. Fuller acquired Royal Adhesives & Sealants in order to expand its adhesives business.
- Oct-2016: Chase announced the acquisition of Resin Design LLC in order to expand its business in advanced adhesives and sealants.
- Jan-2016: Kisko took over Specialty Coating Systems, Inc. in order to deliver high quality parylene technologies and services.
» Product Launches and Product Expansions:
- Sep-2019: Henkel has unveiled Hysol® PC62, a quick drying, and toluene-free conformal coating system in order to provide mechanical and environmental protection to PC boards.
- Sep-2019: Dymax launched Multi-Cure® 9451, conformal coating A “True” Black Color in order to deliver enhanced protection for PCB performance.
- Jun-2019: Henkel introduced Loctite Liofol LA 2798, adhesive solution for high-performance packaging applications.
- Feb-2018: HumiSeal, a Chase company introduced adhesives and encapsulation solutions which comprises of epoxy, urethane, and acrylate which offers protection from chemical attack, mechanical stress, and moisture ingress.
- Mar-2019: H.B. Fuller expanded its global reach to Japan by opening a new subsidiary, H.B. Fuller Japan G.K. in order to enhance its adhesives business.
- Sep-2018: Shin-Etsu expanded its business to Japan and internationally by making investments in its silicon business in which the company will focus on developing products ranging from silicon monomer to end-products.
Scope of the Conformal Coatings Market Analysis
- Aerospace & Defense
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- MG Chemicals Ltd.
- Europlasma NV
- H.B. Fuller Company
- Shin-Etsu Chemical Co., Ltd.
- Chase Corporation
- Dymax Corporation
- Kisco Conformal Coatings, LLC
- The Dow Chemical Company (Dow Corning Ltd.)
- Henkel AG & Company, KGaA
- Illinois Tool Works Inc.
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Conformal Coatings Market Related Reports:
What would be the size of Conformal Coatings market in 2025?
The global Conformal Coatings market size is expected to reach $14 billion by 2025.
What factors are anticipated to drive Conformal Coatings market trends?
The major factors that are anticipated to drive the Conformal Coatings industry include growing demand for reliable electronics devices & equipment and increasing automation across end-use industries.
Which are the top market players in the Conformal Coatings industry?
Some of the key industry players are MG Chemicals Ltd., Europlasma NV, H.B. Fuller Company, Shin-Etsu Chemical Co., Ltd., Chase Corporation, Dymax Corporation, Kisco Conformal Coatings, LLC, The Dow Chemical Company (Dow Corning Ltd.), Henkel AG & Company, KGaA and Illinois Tool Works Inc.
Which region dominated the Conformal Coatings market in 2018?
The Asia Pacific market dominated the Global Conformal Coatings Market by Region in 2018.
Which segment dominated the Conformal Coatings market in 2018 and what is growth over the forecast period?
The Electronics market dominated the Global Conformal Coatings Market by Application in 2018, growing at a CAGR of 5.2 % during the forecast period (2019-2025).
What is the CAGR of Conformal Coatings market by 2025?
The expected CAGR of Conformal Coatings market is 5.44% from 2019 to 2025.