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The conformal coating in electronics market share is expected to increase by USD 279.01 mn from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.54%.
This conformal coating in the electronics market research report provides valuable insights into the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers conformal coating in electronics market segmentation by type (acrylic, silicone, urethane, epoxy, and others), application (automotive electronics, aerospace and defense electronics, consumer electronics, medical electronics, and others), and geography (APAC, Europe, North America, MEA, and South America). The conformal coating in electronics market report also offers information on several market vendors, including ALTANA AG, Chase Corp., CHT Group, Daikin Industries Ltd., Dow Inc., Dymax Corp., H.B. Fuller Co., Henkel AG & Co. KGaA, Master Bond Inc., and Shin-Etsu Chemical Co. Ltd. among others.
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The increasing demand for smart wearable and IoT devices are notably driving the conformal coating in electronics market growth, although factors such as regulations on high emissions of VOC may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the conformal coating in the electronics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Conformal Coating In Electronics Market Driver
Increasing demand for smart wearable and IoT devices is one of the major drivers of the conformal coating in the electronics market growth. The sales of smartphones have grown exponentially over the past two decades, driven by technological innovations and a decline in the price of electronic components. The demand for conformal coating in consumer electronics will grow with the growing demand for smartphones. Earlier, 2G-only mobile devices consisted of four frequency bands, each of which required a separate module. However, with the introduction of wireless communication standards, such as 3G, 4G, 5G WiMax, and near-field communication (NFC), the number of bands has become fragmented, requiring multiple modules for different standards. The demand for conformal coating in electronics is also expected to witness growth due to the increasing adoption of smart wearables and IoT devices, such as smartwatches, fitness trackers, virtual reality (VR) headsets, wireless sensors, and monitoring devices.
Key Conformal Coating In Electronics Market Trend
Demand for nano and microsatellites is one of the major trends of the conformal coating in the electronics market growth. Miniaturization is the most reasonable solution for cost reduction while ensuring delivery of predefined levels of performance. It results in the manufacturing of application-specific integrated micro-instruments and their induction into micro-satellites. The microsatellites can act as a resource, which will indirectly contribute to the functions of bigger satellites. Various countries have extensive programs for the R&D of nanosatellites working in swarms for achieving different results. For instance, the Israel Aerospace Industries (IAI) and the National Aeronautics and Space Administration (NASA) have a strong R&D program for designing and building small, micro, and nanosatellites used for experimental communication, forest fire detection, and earth observation applications. The deployment of this nano or microsatellites in diverse environments demands the protection of the electronic components, hence, generating the requirement for conformal coatings in electronics. Nano and microsatellites with low cost are also beneficial for science and technology demonstration missions, and the application of the conformal coating on the electronic components enables them to take high-risk tolerance which is going to fuel the demand for nano and microsatellites and would create a simultaneous demand for conformal coating in electronics.
Key Conformal Coating In Electronics Market Challenge
Regulations on high emissions of VOC are one of the major challenges of the conformal coating in the electronics market growth. VOCs are found in solvent-based paints, sealants, adhesives, coatings, organic solvents, printing inks, and other petroleum products. The release of VOCs causes air pollution and smog. Since April 2007, stringent regulations have been implemented to limit the amount of VOC content released from the above-mentioned products. The regulations framed by the EU were amended in October 2009, and the prescribed limits were extended to other products such as vehicle refinishing coatings, adhesives, sealants, and paints used in crafts. The Solvent Emission Directive (SED) prescribes thresholds for solvents. In the case of conformal coatings, high solid materials with a low concentration of solvent should not exceed the threshold. Also, the VOC regulation controls VOC contents in architectural paints, coatings, printing inks, and six selected categories of consumer products, namely air fresheners, hair sprays, multi-purpose lubricants, etc in phases, starting from April 1, 2007. This regulation was amended in October 2009, which extended the regulatory measures to other products such as vehicle refinishing coatings, pleasure craft paints, coatings, adhesives, and sealants. Such government regulations associated with the emission of VOCs may pose a threat to market growth.
This conformal coating in the electronics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global conformal coating in the electronics market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the conformal coating in the electronics market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the conformal coating in the electronics market encompasses successful business strategies deployed by the key vendors. The conformal coating in the electronics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The conformal coating in the electronics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the conformal coating in the electronics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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