Bolstering Electronics Production to Uphold Demand for Conformal Coatings
Exponential growth in electronics production is a vital factor driving the growth of conformal coatings market for PCBs. Technological breakthroughs in addition to the 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 electronic components.
Owing to the 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 which are affordable and maintains performance efficiency in products. Printed circuit boards form an integral part of electronic products and their performance is vital to the durability and functioning of different products.
Conformal coatings 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 conformal coatings to enhance the quality of their products and consolidate their footing in the market.
Conformal coating manufacturers are increasingly marketing their products as ways to enhance the performance of PCBs. For instance, Dymax, a leading company operating in the conformal coatings market for PCBs launched a line of UV-cured conformable coatings claiming the product can enhance the performance of PCBs while aiding in the reduction of costs and maximization of profits.
Electrification of the Automotive Industry to Open Pathways to Lucrative Opportunities
Growing consumer concerns about the environment and stringent government regulations are some of the vital factors driving the demand for electrification of the automotive industry. With evolving technology providing the platform for the process, the automotive industry is gradually transitioning towards the manufacturing of electric bikes and cars.
Consequently, the transition is likely to bolster demand for PCBs in the automotive industry which, in turn, is expected to contribute significantly to the growth of conformal coatings market for PCBs.
Additionally, digitalization is gradually changing the face of automotive entertainment, control, and passenger comfort causing the integration of an increasing number of electronic components in automobiles to meet the growing consumer expectations. The factors are fuelling the demand for PCBs with higher-performance efficiency and durability in the automotive industry and are hence driving the proliferation of conformal coatings market for PCBs.
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Demand for High-performance PCBs in Aerospace and Defense Industries
Printed circuit boards used in aerospace, military, and other defense operations are subjected to extreme temperatures, harsh conditions, higher currents and voltages while offering superior operations. Thus, the demand for conformal coatings for PCBs is estimated to burgeon in aerospace and defense applications with numerous countries focusing on developing sophisticated defense systems.
Additionally, the development of the Industrial Internet of Things (IIoT) coupled with data analytics is aiding manufacturers in streamlining the production of conformal coatings to meet the high standards of aerospace and defense industries.
Cracking and Delamination of Conformal Coatings from PCB Surface Could Dent Market Growth
PCBs often experience delamination which is the separation of the coatings from the surface of the circuit boards. 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 for conformal coatings. These factors pose a challenge to the growth of conformal coatings market for PCBs.
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. The factor coupled with the fluctuating prices of raw materials is likely to stifle the growth of conformal coatings market for PCBs.
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Conformal Coatings Market for PCBs – Competitive Landscape
The conformal coatings market for PCBs is expected to remain consolidated with leading players controlling the bulk of the market shares. The consolidated nature of the market can be attributed to the requirement of intensive capital investment and technical knowledge for the production of conformal coatings.
Leading players operating in the conformal coatings market for PCBs are largely focusing on developing innovative and novel technologies to gain a competitive edge in the market.
Some of the leading players operating in the conformal coatings market for PCBs are Dow Corning, Henkel AG & KGaA, Chase Corporation, Shin Etsu Chemical Company Limited, Electrolube, H.B. Fuller Company, Europlasma N.V., AI Technology, Inc, KISCO Limited, Aalpha Conformal Coating, Chemtronics, MG Chemicals, HemiSeal, Global Manufacturing Services Inc., Specialty Coating Systems Inc., Dymax Corporation, and Cytec Industries Inc.
A recent report released by Fact.MR on conformal coatings market for PCBs provides actionable and all-inclusive insights into the conformal coatings market for PCBs. All the key factors influencing the conformal coatings market for PCBs are identified and analyzed in the report. Additionally, the macro and microeconomic factors impacting the growth of conformal coatings market for PCBs.
A detailed opportunity analysis of the conformal coatings market for PCBs has been included in the report. Both qualitative and quantitative analysis of all the identified factors and trends has been provided in the report. A competitive landscape assessment of the conformal coatings market for PCBs has been included in the report with detailed profiling of leading market players.
Conformal Coatings Market for PCBs – Executive Summary
The report on conformal coatings market for PCBs commences with an executive summary which provides brief yet affluent information about the conformal coatings market for PCBs in terms of key facts and figures.
The section also defines the scope of research along with all the assumptions taken into consideration during the compilation of the report. In addition to this, a list of all the megatrends impacting the conformal coatings market for PCB’s has been provided under the section.
Conformal Coatings Market for PCBs – Overview, Background, Analysis, and Forecast
The report on conformal coatings market for PCBs includes a concrete definition of the market along with a detailed market taxonomy. A detailed breakdown of the conformal coatings market for PCBs on the basis of product, operation method, technology, end-use, and region has been provided.
On the basis of product, the conformal coatings market for PCBs is segmented into polyurethane, acrylics, silicone, parylene, epoxy, and fluoropolymer.
Based on the operation method, the conformal coatings market for PCBs is segmented into spray coating, dip coating, brush coating, and CVD.
On the basis of technology, the conformal coatings market for PCBs is segmented into solvent-based, UV-cured, and water-based.
Based on end-use, the conformal coatings market for PCBs is segmented into consumer electronics, medical, marine, defense, automotive, industrial machinery & equipment, aerospace, and others.
The report on conformal coatings market for PCBs also provides a comprehensive price trend analysis based on each of the aforementioned segments. A detailed historical analysis of each of the aforementioned segment in addition to a forecast has been provided in the report.
The report on conformal coatings market for PCBs further analyzes the market on the basis of geographical regions. Under these sections, the report provides all the key trends influencing the performance of the conformal coatings market for PCBs along with a detailed forecast of the growth of conformal coatings market for PCBs in the region.
Conformal Coatings Market for PCBs – Competitive Landscape Assessment
A competitive landscape assessment of the conformal coatings market for PCBs has been provided in the report. The information provided under this section sheds light on the distribution of market share among different companies operating in the conformal coatings market for PCBs.
All the leading players operating in the conformal coatings market for PCBs are identified under the section. Individual profiling of each of the identified players sheds light on their strengths, weaknesses, market presence, strategies, product portfolios, global footprint, and notable business developments.
The information provided in the section can be leveraged by business professionals and stakeholders to streamlining their strategies in accordance with pervasive market trends driving the growth of the conformal coatings market for PCBs. Additionally, the information in the section can be used by new and upcoming players to identify entry barriers into the conformal coatings market for PCBs market and gauge the level of competitiveness.
Conformal Coatings Market for PCBs – Research Methodology
The report on conformal coatings market for PCBs is a consequence of a robust and elaborate research methodology employed during the compilation of the report. A two-step research process involving primary and secondary researches was used to obtain valuable insights into the conformal coatings market for PCBs.
Interviewing seasoned experts from the conformal coatings market for PCBs formed the basis of the primary research while secondary research was conducted by thoroughly studying trade journals, company press releases, paid sources, and other publications related to conformal coatings market for PCBs.
Results from both the steps of research are cross-referenced with each other to create an accurate and authentic forecast of the conformal coatings market for PCBs.
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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.
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