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.
Browse full research report on Conformal Coatings Market: 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
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- India
- Latin
America
- Brazil
- Middle
East & Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-conformal-coating-market
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, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
No comments:
Post a Comment