The global conformal coating market is
expected to reach USD 15.92 billion by 2024, according to a new report by Grand
View Research, Inc. Rising demand for conformal coatings in the consumer
electronics and automotive industry ow is expected to drive the market growth
over the next eight years.
The market is subject to volatile raw material prices. Increasing concerns
regarding high VOC content in these coatings is likely to negate growth.
Stringent regulations implemented by various government and federal agencies
regarding VOC emissions coupled with rising penetration of water based coatings
is likely to have a positive impact on demand over the forecast period.
Growing R&D investments by major industry players to develop unique and
innovative products & processing technologies such as selective needle
dispensing, ultrasonic coatings and even selective film coatings is expected to
simplify application procedure which in turn is expected to increase demand
over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/conformal-coating-market
Further key findings from the report suggest:
- Acrylic conformal coating was the largest product segment, accounting for over 40% of the overall revenue share in 2015. Superior characteristics including moisture and dust resistance provided by the product is expected to augment growth. In addition, rising demand for the product in automotive electronics is expected to propel demand over the next eight years.
- Medical application accounted for a little over 16% of the overall revenue share in 2015. The growing demand for imaging and therapeutic devices is expected to drive market growth for the product in the industry. Growing use of the product in medical electronics in order to reduce risk of corrosion and heating is expected to drive growth.
- Automotive industry accounted for over 20% of the total share in 2015. Technological advancement and utilization of electronic devices for entertainment, GPS and safety system is expected to aid automotive devices market demand which in turn is anticipated to augment conformal coatings growth in the industry.
- Asia Pacific to account for over 55% of the overall revenue share in 2015 on account of the presence of OEMs of European and American market players. China plays a vital role with respect to manufacturing of electronics owing to inexpensive labor cost and low raw material cost on account of which China is expected to contribute to over 50% of the total Asia Pacific market share.
- Key players in the industry include Henkel AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., DOW Corning, H. B. Fuller, Chase Corporation, Electrolube, MG Chemicals and Chemtronics.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the conformal coating market on the basis
of product, application and region:
Conformal coating market Product Outlook (Revenue, USD Million, 2013
- 2024)
·
Acrylic
·
Urethane
·
Epoxy
·
Silicone
·
Parylene
Conformal coating market Application Outlook (Revenue, USD Million,
2013 - 2024)
·
Consumer electronics
·
Automotive
·
Medical
·
Aerospace & Defense
·
Others
Conformal coating market Regional Outlook (Revenue, USD Million,
2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
·
Middle East & Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more information visit - http://www.grandviewresearch.com/
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