Conformal Coatings Market Size & Share, by Application (Consumer Electronics, Automotive, Medical, Aerospace & Defense); Product (Acrylic, Epoxy, Urethane, Silicone, Parylene); Coating Method (Brush, Dip, Spray, Chemical Vapor Deposition); Technology (Water-based, Solvent-based, UV Cured) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5627
  • Published Date: Feb 12, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Conformal Coatings Market size is poised to reach USD 3 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of conformal coatings was USD 1 Billion. The reason behind the growth is impelled by the growing consumer electronics market across the globe being aided by a growing middle class, increased disposable incomes, declining costs of gadgets, as well as the ongoing expansion of e-commerce.

 It is anticipated that the global consumer electronics market will expand by around 2% between 2024 and 2028, reaching a market size of over USD 1175 billion by that year.

The growing advancements in PCB manufacturing are believed to fuel the market growth. PCB technology is developing quickly, which will open up new doors for entrepreneurs, and make it possible to design printed circuit boards (PCBs) with high-density interconnects. For instance, the Internet of Things (IoT) with PCB technology enables users to frequently utilize this technology to remotely manage and monitor equipment at home and work. Besides this, AI can be used by PCB producers to gather data from various sensors, which also can boost PBC industrial automation.


Conformal Coatings Market Overview
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Conformal Coatings Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~6%

Base Year Market Size (2023)

~ USD 1 Billion

Forecast Year Market Size (2036)

~ USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Conformal Coatings Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rising Trend of Miniaturization – Conformal coatings, which are thin polymeric films applied to printed circuit boards (PCBs), enable designers to satisfy requirements for miniaturization by enabling devices to operate with closer track spacing and higher voltage gradients. Conformal coating is used to shield PCBs from damage and is also considered necessary to reduce PCB conductor spacing.
  • Growing Applications in the Medical Sector- Conformal coating aids in shielding medical equipment from corrosive substances, moisture, and other hazards, and also eliminates pinholes and adds a low coefficient of friction, to safeguard and guarantee the dependability of the electronics. The usage of conformal coatings finds increasing relevance owing to their molecular level deposition in medical devices such as stents, catheters, pacemakers, electrosurgical tools, epidural probes, mandrels, needles, and more that are becoming smaller and more compact.
  • Conformal Coatings in Aerospace & Defense Industry- For a variety of aircraft applications, conformal coatings are useful as they shield electronic circuits from abrasive surroundings such as fuel vapors, and from failure from the harshest environments in sea, land, and air.

Challenges

  • Environmental Concerns associated with Conformal Coatings - When the conformal coating is applied to the PCB, it releases volatile organic compounds (VOCs) that pose a risk to the air as well if inhaled, these substances may cause respiratory discomfort or irritation, and several health issues, including headaches, nausea, lethargy, and vertigo. The solvents including toluene, butane, heptane, xylene, and ethylbenzene, which are known to be carcinogenic are utilized in the majority of conformal coatings and are hazardous to human health and the environment.
  • Stringent environmental regulations regarding volatile organic compounds (VOCs)
  • Global supply chain issues including transportation delays and shortage of raw materials


Conformal Coatings Segmentation

Application (Consumer Electronics, Automotive, Medical, Aerospace & Defense)

The consumer electronics segment in the conformal coatings market is estimated to gain a robust revenue share of 45% in the coming years. A printed circuit board or PCBs are frequently utilized in the computer and electronics industry such as in end-user devices LED laptops, smartphones, and other devices, which have included PCB coating material to provide increased dependability. The majority of electronics employ printed circuit boards (PCBs) as the base since they enable power and signal routing between actual devices, and are at the core of nearly all modern electronic devices.

Conformal coatings are thin-layer polymer coatings that are permeable and protective against environmental stressors on circuits and board components. It also serves as an electrical insulator and is utilized in practically all professional-grade PCBs. The most popular conformal coatings in the electronics industry, come in a variety of options, are reasonably priced, are simple to use, are more sustainable and friendlier to the environment, as well as a more cautious approach towards the resources.

In addition, printed circuit boards can be found in automobile audio and visual systems, and are frequently utilized for GPS, engines, LED lights, and other purposes in the automotive industry. The automotive PCB board offers anti-vibration features and is primarily designed for demanding operating conditions since the PCBs used in the automotive sector need to be extremely dependable and resilient to high humidity and harsh temperatures. For automobile applications, conformal coating is essential since the proper defense boosts efficiency provides long-lasting, highly reliable products, and improves long-term dependability.

Product (Acrylic, Epoxy, Urethane, Silicone, Parylene)

The silicone segment in the conformal coatings market is set to garner a notable share shortly. Silicone Conformal Coating materials use a unique composition to help shield critical PCB surfaces and components from corrosion and can shield PCBs over a larger temperature range since they are composed of silicone resin. Silicone conformal coating offers resistance to moisture, fungi, and temperature, and prevents surface insulation resistance degradation. Since silicone conformal coatings stick well to most components and substrates, they are frequently utilized in PCB electronic applications and are specifically designed to safeguard electronic circuits.

In addition, both acrylic and polypropylene resins are conformal coatings that can coat any surface, even deeply into cracks and multi-layer structures. Parylene is a versatile, effective coating that has been created to work well in and offer numerous advantages to in aerospace, medical, and military industries. The coating is so adaptable and works well on rubber and plastic materials and is also considered safe to use on implants used in medical procedures.

Our in-depth analysis of the global conformal coatings market includes the following segments:

      Application

  • Consumer Electronics
  •  Automotive
  • Medical
  •  Aerospace & Defense

      Product

  • Acrylic
  •  Epoxy
  •  Urethane
  •  Silicone
  •  Parylene

     Coating Method

  • Brush
  • Dip
  • Spray
  •  Chemical Vapor Deposition

 

     Technology

  • Water-based
  • Solvent-based
  •  UV Cured

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Conformal Coatings Industry - Regional Synopsis

APAC Market Forecast

The conformal coatings market in Asia Pacific is predicted to account for the largest share of 50% by 2036 impelled by the growing production of PCB. With a market share of around 15% and projected revenue of USD 11 billion in 2022, Taiwan has emerged as a global leader in the printed circuit board (PCB) sector owing to the presence of a large number of PCB manufacturers who are capable of producing high-quality multi-layer PCBs. PCB trade enterprises are becoming more and more prevalent in Taiwan and mainland China owing to lower labor and land costs. For instance, more than 620 million square feet of printed circuit boards were produced in Taiwan in 2022.

In addition, India's manufacturing industry plays a major role in the economic expansion of the nation, which contributes over 14% of GDP and is associated with modern agriculture, scientific and technological advancement, entrepreneurship, and self-sufficiency in defense production. All these factors are expected to fuel market growth in the region.

North American Market Statistics

The North America conformal coatings market is estimated to be the second largest, during the forecast timeframe led by the growing exports of aerospace. Over the past few years, there has been a consistent rise in U.S. aerospace exports owing to the high demand for commercial aircraft from overseas clients. For instance, the US now leads the world in aerospace exports, which contributed around USD 102 billion in 2022.

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Conformal Coatings Market Region
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Companies Dominating the Conformal Coatings Landscape

top-features-companies
    • Alpha Electronics Solutions
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Chase Corp
    • Electrolube
    • Europlasma NV
    • MG Chemicals
    • KISCO LTD
    • Dymax Corporation
    • ALTANA
    • ACC Silicones Limited
    • CSL Silicones Inc.

In-the-news

In The News

  • Alpha Electronics Solutions brand Electrolube announced the launch of a novel conformal coating, UVCLX for shielding electronic circuitry from the most hostile conditions, especially in the automobile sector, and is intended to increase manufacturing velocity and throughput via condensation, UV light, chemical curing methods, or a combination of these.
  •  Chase's HumiSeal conformal coating brand introduced NEW reduced bubble conformal coating created with a completely new solvent blend to precisely address the decrease in bubbles that some conformal coating users were experiencing while yet preserving all the benefits and features of the products.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5627
  • Published Date: Feb 12, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing consumer electronics market across the globe and the growing advancements in PCB manufacturing are the major factors driving the growth of the market.

The market size of Conformal Coatings is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Chase Corp, Electrolube, Europlasma NV, MG Chemicals, KISCO LTD, Dymax Corporation, ALTANA, ACC Silicones Limited, CSL Silicones Inc., and others.

The Consumer Electronics segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Conformal Coatings Market Report Scope
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