Conformal Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027
Report ID: GMI209
Global conformal coatings market share will expand over 2021-2027 with increased demand from consumer electronics application. Demand for high-performance printed circuit boards (PCBs) in the automotive and aerospace sectors will foster the industry growth. Conformal coating is a nonconductive, protective, and dielectric layer that is used in PCB assembly to protect the electronic assembly from fungus, contamination, salt spray, corrosion, and dust.
Conformal coatings are applied on components used in outdoor environments and can prevent damage during installation, rough handling, and reduction of thermal stress. These coatings have several advantages, including lightweight, nonconductive properties and a durable service life. Various conformal coating types such as acrylic, silicone and urethane-based coatings will see high consumption during the forecast period 2021-2027.
Conformal coatings market value from the acrylic segment will witness an appreciable gain owing to its protection and elasticity attributes. Acrylic coatings need less time to complete as compared to coating with other conformal materials, providing ease of application. Acrylic conformal coatings will continue to be one of the most widely used compounds for coating PCBs and other electronics.
With regard to the application, the aerospace segment will garner substantial traction as the demand for conformal coatings is expected to surge in aircraft communications, robotic cable assemblies and other technologies. Conformal coatings are sought-after in aerospace electronics to protect from tin whiskers, corrosive gasses and radiation. Besides, demand for conformal coatings for PCBs will be noticeable to protect electronic devices and machinery from harsh conditions, boosting conformal coatings market share.
The automotive industry is poised to exhibit strong demand for conformal coatings, mainly attributed to the trend for electric vehicles. A surge in the integration of electronic components in automobiles will augment the demand for PCBs and other components featuring conformal coatings with durability and higher performance efficiency.
On the regional front, Asia Pacific is poised to hold a sizable share in global conformal coatings market. An upsurge in the number of PCB manufacturing companies will complement investments in the electronics sector in China, Taiwan, Japan and South Korea. Notably, the advent of 5G has played a pivotal role in expanding the penetration of PCBs in the telecommunication sector. These dynamics are likely to favor conformal coatings market outlook.
North America conformal coatings industry forecast will be strong, with increased demand for electronics in the aerospace sector. Conformal coatings will be sought to bolster the performance and lifespan of power supplies, communication devices, satellite electronics and detection equipment. Given that acrylic, parylene and silicone coatings improve the functional reliability of aerospace components, investments in conformal coatings will surge in the next few years.
The global conformal coatings market comprises of prominent manufacturers including Dow Corning, Cytec Industries, Chase Corp, Dymax Corp, Master Bond Inc., ITW Chemtronics, Henron Manufacturing and Electrolube, among others. Leading companies are expected to emphasize mergers & acquisitions and product roll outs to gain a competitive edge.
For instance, in Feb 2020, Dow came up with silicone conformal coating with UV and moisture dual care for high-volume electronics manufacturing. The company will strive to boost safety, sustainability, and health with automated spraying.
Discussing COVID-19 impact on conformal coatings market share
The aerospace and automotive industries were hit hard during the coronavirus pandemic. Restriction on airline travel, along with a dip in aircraft manufacturing, has influenced the conformal coatings market value. According to a study, over 70% of the global aviation fleet was grounded in the light of the COVID-19 pandemic. Less than 7,500 aircraft were flying during mid-2020, out of 27,500 aircraft in service at the beginning of the year.
While the demand from the aerospace industry has plunged, other sectors such as consumer electronics manufacturing will have also suffered due to workforce restrictions and negative impact on supply chains. However, conformal coatings market outlook will be strong over the forecast period 2021-2027 due to increased demand for medical devices, and gradual recovery of the automotive and consumer electronics industries.
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