세계의 컨포멀 코팅 시장 : 예측(2024-2029년)

The conformal coatings market is valued at US$885.364 million in 2024 and is projected to grow at a CAGR of 6.56% over the forecast period.

The rising use of electrical components in automotive is the key driver of the global conformal coatings market. To make advanced electrical components work in harsh working conditions subject to chemicals, moisture, dust, and vibration, conformal coating materials have become a necessity. This adds a protective layer to these components, thereby increasing the reliability of the product.

The growing consumer electronics industry further fuels the demand for various conformal coating materials worldwide. Acrylic conformal coating is expected to witness significant growth during the forecast period as it is easy to apply, low-cost, and provides good resistance to chemicals, abrasion, and moisture.

Geographically, the APAC region will witness the fastest growth of conformal coating materials due to the booming automotive industry and escalating demand for various consumer electronics. However, volatility in raw material prices and stringent environmental regulations will restrain the market growth during the forecast period.

CONFORMAL COATINGS MARKET DRIVERS:

• Increasing demand from high-end applications

Electronic components such as semiconductors, PCBs, transistors, resistors, capacitors, inductors, diodes, connectors, and other critical components are used to produce a properly usable electronic device. With the advent of IoT (internet of Things), the usage of electronics has increased manifolds, from TVs to refrigerators, etc. The internet can monitor every piece of equipment; hence, the need for electronic inputs and their relative materials is growing rapidly. Further, it has been applied in circuit board coating protection in industries such as aerospace.

Several products in the market offerings, such as Henkel, offer advanced LOCTITE brands of conformal coating materials utilized in the PCBs and advanced substrates from thermal shock, moisture, corrosive liquids, and other adverse environmental conditions. It ensures longer product life cycles for harsh marine, automotive, medical, and consumer electronics applications.

• Growing demand for conformal coating from the automotive industry

With the advancements in technology, electronic applications in the automotive industry have grown significantly, such as transmission electronics, chassis electronics, entertainment systems, power electronics, GPS systems, LED lighting, etc. These systems improve the overall mechanism of the automobile and provide a comfortable ride for the journey. The growing automotive industry is providing the growing application of electronics and related products in manufacturing, such as conformal coatings.

Furthermore, the growing demand for electric sales in the major regions of the United States, China, Europe, and India expanded the demand for automobiles worldwide. According to the International Energy Agency, electric vehicles in Europe have seen an increase of 17.39% from 2021 to 2022 and an 18.52% increase from 2022 to 2023 in sales. These numbers show the significance of the growing electric vehicle sales in the global market. The growth of the automotive industry has given rise to the demand for conformal coatings in its application.

• The growing demand for the PCBs (Printed Circuit Board)

According to the Japan Electronics And Information Technology Industries Association (JEITA), the demand for the production of electronics and IT is estimated to be $3,686.8 billion in 2024, increasing 9% year on year from 2023. This market expansion is due to the ongoing transformation of society, companies, and industries and resolving social problems through digital innovation such as generative AI. The increasing digital transformation and digital literacy are causing the rapid use of digital instruments for payments and banking. These solutions keep electronic components in high demand. The sharp growth of PCBs is also attributed to the transition for EVs and the growing percentage of electrical componentry used in automobiles to enhance safety performance.

All these factors are causing the demand for the printed circuit board (PCB), which is required in nearly all electronic products. Conformal coating protects circuit boards and equipment from erosion, prolonging products' shelf life and guaranteeing Printed Circuit Board (PCB) security and reliability. PCB demand would increase the demand for conformal coating in the market.

• Geographical segment of the conformal coatings market

By geography, the market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

Report Analysis:

This research study examines the conformal coatings market based on various segments: type, end-user industry, and geography. First, a brief market overview details key driving factors and challenges. Next, Porter's five forces model analyzes the conformal coatings industry comprehensively. This is followed by industry value chain analysis, which determines which companies are part of the different processes and contributing to various sectors.

The study also presents in-depth information concerning the development, trends, and industry policies and regulations affecting the conformal coatings market. Moreover, the research study analyzes the overall regulatory framework of this sector, offering stakeholders a better understanding of the key factors influencing the overall market environment.

Conformal coatings market key developments:

• In February 2024, Henkel announced the commercialization of Loctite Stycast CC 8555. It is a conformal coating designed to protect electronics in extreme environments. This would expand the company's conformal coating portfolio. Loctite Stycast CC 8555 is resistive against corrosive conditions such as moisture, mixed gases, and various chemicals. The product can protect with one-third to one-half of the sprayed volume of a solvent-based system. It has solvent-borne conformal coatings, which help to get deposits three to four times the thickness of non-solvent-based materials.
• In November 2023, Nordson Electronics Solutions, an electronics manufacturing technology company, announced the launch of the new ASYMTEK Select Coat(R) SL-1040 conformal coating system. It can be applied for high-volume production for printed circuit assembly. These would meet the dynamic demands of electronics manufacturers. SL-1040 utilizes new process control and preventive maintenance with the new SC-450 PreciseCoat Jet. Standard configurations of the SL-1040 included safety standards such as SMEMA, CE, NFPA, and SEMI. Nordson Electronics Solutions offers diverse end market exposure, including consumer non-durable, medical, electronics, and industrial end markets.
• In September 2023, ADATA announced that it would provide custom conformal coating services for all product lines. The feature of the custom conformal coating technology by the company provides polydimethylsiloxane coating for quick drying and superior moisture/conductivity resistance, precise shapes at thicknesses of 50um-210um, and complete coverage around the IC, PIN corners, and BGA solder balls. It is compatible with multiple inspection standards, including MIL-STD-810G, ASTM B-117, RoHS, and UL.

The conformal coatings market is segmented and analyzed as follows:

By Type

• Epoxy
• Acrylics
• Perylene
• Urethane
• Others

By End-user Industry

• Automotive
• Industrial
• Aerospace And Defense
• Electronics
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Increasing demand from high-end applications
  • 4.1.2. Growing demand for conformal coating from the automotive industry
  • 4.1.3. The growing demand for the PCBs (Printed Circuit Board)
• 4.2. Market Restraints
  • 4.2.1. Complex regulatory framework
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. CONFORMAL COATINGS MARKET BY TYPE

• 5.1. Introduction
• 5.2. Epoxy
• 5.3. Acrylics
• 5.4. Perylene
• 5.5. Urethane
• 5.6. Others

6. CONFORMAL COATINGS MARKET BY END-USER INDUSTRY

• 6.1. Introduction
• 6.2. Automotive
• 6.3. Industrial
• 6.4. Aerospace And Defense
• 6.5. Electronics
• 6.6. Others

7. CONFORMAL COATINGS MARKET BY GEOGRAPHY

• 7.1. Global Overview
• 7.2. North America
  • 7.2.1. United States
  • 7.2.2. Canada
  • 7.2.3. Mexico
• 7.3. South America
  • 7.3.1. Brazil
  • 7.3.2. Argentina
  • 7.3.3. Rest of South America
• 7.4. Europe
  • 7.4.1. United Kingdom
  • 7.4.2. Germany
  • 7.4.3. France
  • 7.4.4. Italy
  • 7.4.5. Spain
  • 7.4.6. Rest of Europe
• 7.5. Middle East and Africa
  • 7.5.1. Saudi Arabia
  • 7.5.2. United Arab Emirates
  • 7.5.3. Rest of the Middle East and Africa
• 7.6. Asia-Pacific
  • 7.6.1. China
  • 7.6.2. India
  • 7.6.3. Japan
  • 7.6.4. South Korea
  • 7.6.5. Taiwan
  • 7.6.6. Thailand
  • 7.6.7. Indonesia
  • 7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 8.1. Major Players and Strategy Analysis
• 8.2. Market Share Analysis
• 8.3. Mergers, Acquisitions, Agreements, and Collaborations
• 8.4. Competitive Dashboard

9. COMPANY PROFILES

• 9.1. Dow Corning Corporation
• 9.2. Henkel AG & Co.
• 9.3. Peters Group
• 9.4. Chemtronics
• 9.5. Chase Corporation
• 9.6. Electrolube
• 9.7. Shin-Etsu Chemical Co. Ltd.
• 9.8. Precision Valve & Automation, Inc.
• 9.9. Dymax Corporation
• 9.10. Nordson Corporation