According to a new report Global Conformal Coatings Market, published by KBV Research, 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.
Acrylic is expected to be witness the fastest growth among other products in Conformal Coatings market. The acrylic conformal coating would gain remarkable progress as it exhibit its intrinsic property of rapid drying thereby having an upper hand as compared to its alternative products especially in sectors such as electronics and automotive. This property enables its use in a wide range of applications in automotive and electronics industries. Also, other properties including easy application and moisture resistance make its further conducive for its diverse applications across industries The Silicone market is expected to witness a CAGR of 5.1% during (2019 - 2025).
The Asia Pacific market dominated the Global Conformal Coatings Market by Region in 2018. The Europe market is expected to witness a CAGR of 4.8% during (2019 - 2025). In 2018, North America registered a market share of around 25% in conformal coatings market worldwide in and is expected to grow at a growth rate of 5.26% CAGR throughout the forecast period. The rising demand for innovative electronics such as GPS systems and other products especially in the automotive sector would propel the demand further.
The Electronics market dominated the Global Conformal Coatings Market by Application in 2018, growing at a CAGR of 5.2 % during the forecast period. The Medical market is witnessing a growth rate of 5.9% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/conformal-coatings-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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