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Conformal Coatings Market Growth Analysis With Investment Opportunities For 2024-2033
The Business Research Company's Conformal Coatings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 17, 2024 /EINPresswire.com/ -- The conformal coatings market has experienced robust growth in recent years, expanding from $13.49 billion in 2023 to $14.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to the growing demand for electric vehicles (EVs), increasing demand for conformal coatings in medical equipment, and increasing demand in the aerospace industry.
Strong Future Growth Anticipated
The conformal coatings market is projected to continue its strong growth, reaching $19.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, and increasing investments in 5g technology and telecom infrastructure.
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Growth Driver Of The Conformal Coatings Market
The growth in demand for the consumer electronics industry is expected to propel the growth of the conformal coatings market. The consumer electronics industry consists of a range of electronic products such as smartphones, TVs, and personal computers. Conformal coatings are used in consumer electronics to combat chemicals, hazardous external conditions, and toxins in offices and residences.
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Major Players And Market Trends
Key players in the conformal coatings market include Dow Inc., Shin-Etsu Chemical Co. Ltd., Henkel AG & Co. KGaA, H.B. Fuller Company and ITW, Altana, Kisco Ltd., Chase Corp, Element Solutions Inc., Dymax, Hitachi Chemical Co. Ltd., Techspray, Electrolube, HumiSeal, Guangdong Sinpo New Materials Technology Co. Ltd., Shenzen Anlihui Electronic Technology Co. Ltd., Shenzhen Jitian Chemical Co. Ltd., Aalpha Conformal Coatings, ACC Silicones Ltd., pva tepla ag, Henkel AG and Co. KGaA, MG Chemicals Europe, Biesterfeld AG, Peters Corporation, ATE Electronics, CoolIT.
Companies operating in the conformal coatings market are focusing on developing new UV-curable conformal coatings to strengthen their position in the market. UV-curable conformal coatings provide excellent protection for printed circuit boards (PCBs) and other electronic components. They create a protective barrier that shields the PCBs from environmental factors such as moisture, dust, chemicals, and temperature variations.
Segments:
1) By Type: Acrylic, Silicone, Epoxy, Urethane, Parylene, Other Types
2) By Technology: Water-Based, Solvent-Based, UV-Cured
3) By Operation Method: Dip Coating, Brush Coating, Spray Coating, Chemical Vapor Deposition
4) By End User: Automotive, Consumer Electronics, Aerospace and Defense, Industrial, Other End Users
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the conformal coatings market in 2023.
Conformal Coatings Market Definition
A conformal coating is a thin polymeric layer that is applied to a printed circuit board (PCB) to secure it and its components from corrosion and the environment. These coatings conform to the irregular landscape of the printed circuit board and offer increased operational integrity, dielectric resistance, and reliability.
Conformal Coatings Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Conformal Coatings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on conformal coatings market size, conformal coatings market drivers and trends, conformal coatings market major players, conformal coatings competitors' revenues, conformal coatings market positioning, and conformal coatings market growth across geographies. The conformal coatings market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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