According to Fact.MR’s latest industry analysis on conformal coatings for printed circuit boards, the market was valued at US$ 11 Bn in 2020, and is expected to accelerate at a CAGR of 4% to top US$ 15 Bn by 2031. Demand for acrylic conformal coatings for PCBs to surge at a CAGR of 3.5% across the assessment period of 2021 to 2031.
Key Points Covered in Conformal Coatings for Printed Circuit Boards Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Organic Compounds in Conformal Coatings for PCBs
- Conformal Coatings Market for PCBs Production Analysis 2021
- Sales of Circuit Board Protection Conformal Coating in 2021
- Applications of Conformal Coatings for PCBs in Telecommunication Industry
- COVID-19 Impact on the Sales of Conformal Coatings for Printed Circuit Boards and How to Navigate
- Recommendation on Key Winning Strategies
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Consumption Analysis of Conformal Coatings for Printed Circuit Boards from 2016 to 2020 Vs Demand Outlook for 2021 to 2031
As per Fact.MR - a market research and competitive intelligence provider, the global market for conformal coatings for printed circuit boards (PCBs) was valued at US$ 11 Bn in 2020.
Conformal coatings used in consumer electronic devices significantly enhance the reliability and longevity of PCBs. Conformal coatings are used for PCB protection from environmental conditions that can interfere with circuit performance and cause premature failure.
Large players are highly integrated, which helps them reduce production costs and gain a competitive edge in the market. There are various types of conformal coatings for PCB protection. Conformal coatings for PCB manufacturers are focusing on new innovation and technologies in order to enhance their market share and serve diverse industries. Hence, production of conformal coatings is growing and the degree of competition in the market is likely to be high over the forecast period.
Conformal coatings market for printed circuit boards is projected to witness growth over coming years, registering a CAGR of 4% to reach above US$ 15 Bn by 2031.
What is the Key Factor Stimulating Demand for Conformal Coatings for PCBs?
Exponential growth in electronics production is a vital factor driving demand for conformal coatings for PCBs. Technological breakthroughs in addition to 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 high-performance conformal coatings for PCBs.
Owing to 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 that are affordable and maintain performance efficiency in circuit board protection conformal coatings.
Printed circuit boards form an integral part of electronic products, and their performance is vital to the durability and functioning of different products. Hence, demand for high-performance printed circuit boards (PCBs) is growing in the market.
Use of conformal coatings is to 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 PCB conformal coatings to enhance the quality of their products and consolidate their footing in the market.
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What are the Restraints being Encountered by Conformal Coatings for Printed Circuit Board Providers?
PCBs often experience delamination, which is the separation of the coating from the surface of the circuit board. 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 of conformal coatings. These factors pose a challenge to the growth of the market.
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. This factor, coupled with fluctuating prices of raw materials, is likely to stifle the growth opportunities for conformal coating for PCB manufacturers.
Which Region is a Lucrative Market for Conformal Coatings for PCBs?
In terms of revenue, Asia Pacific dominated the global market with a 40% share. This high market share of the region is ascribed to rise in disposable income, increase in population, and expansion of consumer electronics and automotive industries.
Expansion of automotive and medical industries is estimated to provide lucrative opportunities to the market during the forecast period.
Manufacturers based in developing economies of Asia Pacific produce conformal coatings for the protection of PCBs of consumer electronic devices. Lucrative opportunities in the electronics industry in countries such as South Korea, Taiwan, and Japan offer growth opportunities for the conformal coatings market in the region. Consumer electronics is the major segment that drives demand for conformal coatings in Asia Pacific.
Other countries / regions that are expected to perform well include the U.K parylene conformal coatings market for PCBs and Italy fluoropolymer-based conformal coatings market for PCBs.
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What is the Demand Outlook for Conformal Coatings for PCBs in the U.S.?
The market in the U.S. was valued at over US$ 2.5 Bn in 2020. Recovery of the economy, increase in government spending, growing demand for high-performance PCBs in aerospace, consumer inclination toward personal conveyance, and constant research in automobile and medical technologies in the field of fuel-efficient automobiles and pacemakers are expected to boost the conformal coatings market in the U.S.
Growth will be supported by high PCB demand from several major electric vehicle manufacturers in the region. PCB manufacturers are also seeking ways to capture the defense and aerospace sector. This is offering alluring prospects for PCB coatings used in these sectors must be offer protection to work in full capability throughout operations.
What are the Growth Opportunities for Conformal Coatings for PCB Providers across China?
By 2031, China is expected to have a market worth roughly US$ 3 Bn. The robust automotive industry in China is contributing significantly to the expansion of the conformal coatings market for printed circuit boards.
Advancements in the defense sector, increasing demand for conformal coatings for modern day PCBs, and expansion of the electronics industry are anticipated to offer better market expansion opportunities during the forecast period.
Asia Pacific is estimated as the firmest budding regional market on account of huge spending in the electronics industry in China that generates enormous product demand. Besides, growing use of PCB conformal coatings for industrial machinery and rapid progress of the consumer electronics and automotive manufacturing industry in China are expected to fuel product demand for conformal coatings for PCBs.
China, which strives towards self-sufficiency, has witnessed higher growth in the market. Major R&D investments, rise in PCB conformal coatings services, growing demand for conformal coating spray for PCB, and expansion of production facilities in the country has further boosted the sales of circuit board protection conformal coatings.
Increasing technological advancements are shaping the Canada acrylics conformal coatings market for PCBs and Germany silicone conformal coatings market for PCBs, besides other markets. Companies operating in the conformal coating sector are focused on developing technological solutions for conformal coating.
- In February 2020, The Dow Chemical Company, a chemical manufacturing company launched the DOWSIL CC-8030 UV and Moisture Dual Cure Conformal Coating at IPC APEX EXPO, the company's first solvent less silicone conformal coating with an ultraviolet (UV) and moisture dual-cure device for maximum efficiency. Through automated spraying and quick energy-efficient UV curing, the new environmentally friendly silicone technology enables sustainability, health, and safety while lowering processing costs.
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Conformal Coatings Market for PCBs Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments in Conformal Coatings for PCBs Industry Research
- Polyurethane Conformal Coatings for PCBs
- Acrylics Conformal Coatings for PCBs
- Silicone Conformal Coatings for PCBs
- Parylene Conformal Coatings for PCBs
- Epoxy Conformal Coatings for PCBs
- Fluoropolymer Conformal Coatings for PCBs
- Spray Coating
- Dip Coating
- Brush Coating
- Solvent-based Conformal Coatings for PCBs
- Water-based Conformal Coatings for PCBs
- UV-cured Conformal Coatings for PCBs
- LED-curable Conformal Coatings for PCB
- Consumer Electronics
- Industrial Machinery & Equipment
Conformal Coatings Market for Printed Circuit Boards: Report Scope
A recent study by Fact.MR on the conformal coatings market for printed circuit boards offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates recent market developments, strategic market growth analysis, market size, category market growths, product approvals, product launches, geographical expansions, and technological innovations associated with conformal coatings market for printed circuit boards!
The study also provides the dynamics responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing conformal coatings for printed circuit boards, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of conformal coatings for printed circuit boards across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of conformal coatings for PCBs during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative conformal coatings markets for printed circuit boards?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading manufacturers of conformal coatings for printed circuit boards?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for conformal coatings for PCBs are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global conformal coatings market for printed circuit boards.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the conformal coatings market for printed circuit boards during the forecast period.
Country-specific valuation on demand for conformal coatings for printed circuit boards has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
The report sheds light on leading manufacturers of conformal coatings for printed circuit boards, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering conformal coatings for PCBs has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the conformal coatings market for printed circuit boards.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of conformal coatings market for PCBs, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The global conformal coatings market for PCBs is currently worth more than US$ 11 Bn.
According to Fact.MR, conformal coatings for printed circuit board sales expanded at a CAGR of around 2% from 2016 to 2020.
Growing popularity among end users, especially automotive, aerospace, and consumer electronics, will encourage growth of the market.
Asia Pacific is the most lucrative growth region, generating 40% of global revenue.
Key market players are Dow Corning, Henkel AG & KGaA, Chase Corporation, Shin Etsu Chemical Company Limited, and Electrolube.
The market in the U.S is anticipated to top a valuation of US$ 5 Bn by 2031.
According to Fact.MR, sales of conformal coatings for PCBs in China are set to register a CAGR of 4% through 2031.
The automotive industry holds 40% share overall conformal coatings for printed circuit boards.
The U.S., China, U.K., Germany, and India are expected to drive most of the demand for conformal coatings for PCBs.
The global market is anticipated to attain a CAGR of 4% over the forecast period of 2021 to 2031.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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