Conformal Coatings Market Portrays High-End Demand across Major Geographies during 2018-2026

From: Fact.MR
Published: Fri Sep 27 2019

The report studies the conformal coatings market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on conformal coatings market to its wide online database including upcoming trends and market growth factors through 2026. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.

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Exponential growth in electronics production is a vital factor driving the growth of conformal coatings market for PCBs. Technological breakthroughs in addition to the burgeoning demand for consumer electronics are some of the vital factors bolstering the growth of conformal coatings market for PCBs. Introduction of the novel and innovative electronic products in automotive, industrial, and consumer categories is another key reason behind the burgeoning demand for electronic components.

Owing to the growing demand for electronics, numerous companies are venturing into the market creating intense competition. Intensifying competition among different companies in the electronics market is promoting manufacturers seek for processes which are affordable and maintains performance efficiency in products. Printed circuit boards form an integral part of electronic products and their performance is vital to the durability and functioning of different products. Conformal coatings protect PCBs from dust, moisture, humidity, and extreme temperatures, thus ensuring the durability of electronic products. With competition on the rise, electronics manufacturers are increasingly seeking conformal coatings to enhance the quality of their products and consolidate their footing in the market.

Conformal coating manufacturers are increasingly marketing their products as ways to enhance the performance of PCBs. For instance, Dymax, a leading company operating in the conformal coatings market for PCBs launched a line of UV-cured conformable coatings claiming the product can enhance the performance of PCBs while aiding in the reduction of costs and maximization of profits.

Electrification of the Automotive Industry to Open Pathways to Lucrative Opportunities

Growing consumer concerns about the environment and stringent government regulations are some of the vital factors driving the demand for electrification of the automotive industry. With evolving technology providing the platform for the process, the automotive industry is gradually transitioning towards the manufacturing of electric bikes and cars. Consequently, the transition is likely to bolster demand for PCBs in the automotive industry which, in turn, is expected to contribute significantly to the growth of conformal coatings market for PCBs. Additionally, digitalization is gradually changing the face of automotive entertainment, control, and passenger comfort causing the integration of an increasing number of electronic components in automobiles to meet the growing consumer expectations. The factors are fuelling the demand for PCBs with higher-performance efficiency and durability in the automotive industry and are hence driving the proliferation of conformal coatings market for PCBs.

Demand for High-performance PCBs in Aerospace and Defense Industries

Printed circuit boards used in aerospace, military, and other defense operations are subjected to extreme temperatures, harsh conditions, higher currents and voltages while offering superior operations. Thus, the demand for conformal coatings for PCBs is estimated to burgeon in aerospace and defense applications with numerous countries focusing on developing sophisticated defense systems. Additionally, the development of the Industrial Internet of Things (IIoT) coupled with data analytics is aiding manufacturers in streamlining the production of conformal coatings to meet the high standards of aerospace and defense industries.

Cracking and Delamination of Conformal Coatings from PCB Surface Could Dent Market Growth

PCBs often experience delamination which is the separation of the coatings from the surface of the circuit boards. The process occurs when poor adhesion and compatibility between coatings and printed circuit boards results in the contamination of the board which can significantly hamper its durability.

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Subjecting printed circuit boards to high temperatures can cause cracking or delayering for conformal coatings. These factors pose a challenge to the growth of conformal coatings market for PCBs. Additionally, growing concerns about the concentration of volatile organic compounds in conformal coatings and their adverse impact on human health are creating a negative image of the use of coatings in electronics among consumers. The factor coupled with the fluctuating prices of raw materials is likely to stifle the growth of conformal coatings market for PCBs.

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