The global conformalcoating market is expected to reach USD 15.92 billion
by 2024, according to a new report by Grand View Research, Inc. Rising demand
for conformal coatings in the consumer electronics and automotive industry ow
is expected to drive the market growth over the next eight years.
The market is subject to volatile raw
material prices. Increasing concerns regarding high VOC content in these
coatings is likely to negate growth. Stringent regulations implemented by
various government and federal agencies regarding VOC emissions coupled with
rising penetration of water based coatings is likely to have a positive impact
on demand over the forecast period.
Growing R&D investments by major
industry players to develop unique and innovative products & processing
technologies such as selective needle dispensing, ultrasonic coatings and even
selective film coatings is expected to simplify application procedure which in
turn is expected to increase demand over the forecast period.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/conformal-coating-market
Further key findings from the report suggest:
·
Acrylic conformal coating was the largest
product segment, accounting for over 40% of the overall revenue share in 2015.
Superior characteristics including moisture and dust resistance provided by the
product is expected to augment growth. In addition, rising demand for the
product in automotive electronics is expected to propel demand over the next
eight years.
·
Medical application accounted for a little
over 16% of the overall revenue share in 2015. The growing demand for imaging
and therapeutic devices is expected to drive market growth for the product in
the industry. Growing use of the product in medical electronics in order to
reduce risk of corrosion and heating is expected to drive growth.
·
Automotive industry accounted for over 20%
of the total share in 2015. Technological advancement and utilization of
electronic devices for entertainment, GPS and safety system is expected to aid
automotive devices market demand which in turn is anticipated to augment
conformal coatings growth in the industry.
·
Asia Pacific to account for over 55% of the
overall revenue share in 2015 on account of the presence of OEMs of European
and American market players. China plays a vital role with respect to
manufacturing of electronics owing to inexpensive labor cost and low raw
material cost on account of which China is expected to contribute to over 50% of
the total Asia Pacific market share.
·
Key players in the industry include Henkel
AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., DOW Corning, H. B.
Fuller, Chase Corporation, Electrolube, MG Chemicals and Chemtronics.
Browse more reports of this category by Grand View
Research: https://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the
conformal coating market on the basis of product, application and region:
Conformal coating market Product Outlook (Revenue, USD
Million, 2013 - 2024)
·
Acrylic
·
Urethane
·
Epoxy
·
Silicone
·
Parylene
Conformal coating market Application Outlook (Revenue,
USD Million, 2013 - 2024)
·
Consumer electronics
·
Automotive
·
Medical
·
Aerospace & Defense
·
Others
Conformal coating market Regional Outlook (Revenue, USD
Million, 2013 - 2024)
·
North America
o U.S.
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
o India
·
Latin America
o Brazil
·
Middle East & Africa
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-conformal-coating-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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