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Consumer Electronics Segment Likely to Boost the Conformal Coatings Market Growth – Exclusive Report by Mordor Intelligence

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Consumer Electronics Segment Likely to Boost the Conformal Coatings Market Growth – Exclusive Report by Mordor Intelligence

November 03
07:22 2021
Consumer Electronics Segment Likely to Boost the Conformal Coatings Market Growth - Exclusive Report by Mordor Intelligence
Mordor Intelligence
Consumer Electronics is the largest consumer of conformal coatings. Consumer electronics include various electronic devices from entertainment, communication, to home appliances. Over 50% of global printed circuits (PCBs) are manufactured in China, owing to incentives offered by the government to PCB factories. Moreover, the country is well-known for producing circuit boards at low costs.

Conformal Coatings Market Overview

The market for conformal coatings is expected to grow at a CAGR of more than 6% during the forecast period. The major factors driving the market are the increasing demand for high-end applications, that require conformal coating. Also, the rising medical applications in Asia-Pacific are expected to act like an opportunity to the market. Consumer Electronics is the largest consumer of conformal coatings. Consumer electronics include various electronic devices from entertainment, communication, to home appliances. Conformal coatings are used to coat on all electronic components such as semiconductors, PCBs, transistors, resistors, capacitors, inductors, diodes, connectors, and other critical components are used in order to protect against thermal shocks, moisture, dust, chemical, and corrosion. The conformal coatings of higher standards can self-extinguish a flame on a circuit board.

Download a free sample here – Conformal Coatings Market

Conformal Coatings Market – Geographical Overview 

The Asia-Pacific region  is expected to dominate the market for conformal coatings during the forecast period

China is the world’s largest electronics production base and offers tough competition to existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, among others, have the highest growth rates in the consumer electronics segment of the market in terms of demand. The consumer electronics production in India grew at a rapid rate between 2015-2020, with the production value of consumer electronics exhibiting a growth of 16.6% between 2018-19 and 2019-20. The consumer electronics industry witnessed a drop in production outputs in 2020-21 owing to the COVID-19 pandemic and its subsequent impact on domestic production facilities. Furthermore, the consumer electronics market is expected to witness a CAGR of over 10% during the forecast period, in turn, increasing the need for the production of consumer electronics at a higher rate in the country. This is projected to increase the demand for conformal coatings in the region during the forecast period.

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Key Highlights of the Conformal Coatings Market

  • The global conformal coatings market is partially consolidated in terms of revenue. Some of the major players include Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, ITW, and Shin-Etsu Chemical Co. Ltd, among others.
  • In Europe, Germany’s electronics industry is the largest in the region. The electrical and electronics industry accounted for 10% of the total industrial production in Germany. According to the German Electrical and Electronic Manufacturers’ Association (ZVEI), the global electric industry is expected to rise to EUR 5 trillion in 2021. The increasing smart home applications along with growing demand from smartphones and wearables are estimated to drive the market in the coming years.

Related Reports and Links

List of Key Players in the Conformal Coatings Market

  • Altana
  • Chase Corp.
  • CHT Ltd
  • Dow
  • Dymax
  • HK Wentworth Ltd
  • H.B. Fuller Company
  • Henkel AG & Co. KGaA
  • ITW
  • Kisco Ltd
  • MG Chemicals
  • Panacol-Elosol GmbH
  • Shin-Etsu Chemical Co. Ltd
  • Momentive

*List Not Exhaustive 

Mordor Intelligence has segmented the global conformal coatings market on the basis of material type, end-user industry, and geography:

  • Material Type (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Acrylic
    • Epoxy
    • Urethane
    • Silicone
    • Other Types
  • End-user Industry (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Automotive
    • Aerospace and Defense
    • Medical
    • Consumer Electronics
    • Other End-user Industries
  • Geography (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • Italy
      • France
      • Rest of Europe
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle-East and Africa
      • Saudi Arabia
      • South Africa
      • Rest of Middle-East and Africa

About Mordor Intelligence 

Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.

We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.

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