Conformal coatings market is projected to grow to US$6.502 billion by 2022, increasing from US$5.080 billion in 2017, growing at a CAGR of 5.06% over the forecast period. Rising use of electrical components in automotive is the key driver of global conformal coatings market. In order to make advanced electrical components work in harsh working conditions subject to chemical, moisture, dust and vibration, the use of conformal coating materials has become a necessity to add a protective layer on these components, thereby increasing the reliability of the product. Growing consumer electronics industry is further fuelling the demand for various conformal coating materials worldwide. The acrylic conformal coating is expected to witness a significant growth during the forecast period as the material is easy to apply, has low cost and provides good resistance from chemical, abrasion, and moisture. Geographically, APAC region will witness the fastest growth of conformal coating materials due to booming automotive industry and escalating demand for various consumer electronics. However, volatility in raw material prices coupled with stringent environmental regulations will restrain the market growth during the forecast period.
This section of the report presents detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segments which has been covered as part of the report.
Comprehensive market dynamics has been analyzed through key market driving factors, challenges to growth and the opportunities which exist for vendors in the current scenario. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of conformal coatings. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Conformal Coatings market has been segmented by type, end-use industry and geography as follows:
By End Use Industry
Aerospace and Defense
Europe Middle East and Africa
Middle East and Africa
Competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Dow Corning Corporation, Henkel AG & Co., Peters Group, and Chemtronics among others.