The market for electronic conformal coatings had a net value of US$2.45 billion in 2022 and is anticipated to generate US$4.3 billion in sales by the end of 2032. The market for electronic conformal coatings is estimated to grow at a CAGR of 5.8% between 2022 and 2032.
The market for electronic conformal coatings in Europe is expected to grow at a CAGR of 5.1% over the course of the forecast period and already accounts for 25.5% of the worldwide market.
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Key Takeaways from Electronic Conformal Coatings Market Study
- The electronic conformal coatings market is valued at US$ 2.45 billion.
- Consumption of electronic conformal coatings is expected to rise at a CAGR of 5.8% from 2022 to 2032.
- By 2032, the market for electronic conformal coatings is anticipated to reach a valuation of US$ 4.3 billion.
- Increasing demand for miniaturization of electronics, rising use in the automotive industry, growing disposable income, increasing PCB manufacturing, and growing digitization trends are expected to majorly drive electronic conformal coatings market potential through 2032.
- The acrylic segment holds a market value of US$ 936.5 million in 2022 and is projected to reach US$ 1.73 billion by the end of the forecast period.
- The Japan electronic conformal coatings market is predicted to reach US$ 284.4 million by the end of 2032 while expanding at a CAGR of 8.3%.
- Demand for electronic conformal coatings in automotive electronics applications is expected to account for a dominant market share of 41.8% by 2032.
- The Asia Pacific electronic conformal coatings market is projected to account for a high market share of 32.5% by 2032.
Competitive Landscape:
Key electronic conformal coating manufacturers are focusing on maximizing their revenue generation by increasing their investments in different ventures. Electronic conformal coating suppliers are also investing in the development of tailored conformal coatings for different applications to boost their sales potential.
- In October 2020, Henkel AG & Co. KGaA, a German chemical manufacturer, announced an investment in an advanced material start-up company called Actnano, which is based in the United States. Actnano is known for providing tailored conformal coatings for the protection of PCBs in several applications.
- In February 2020, Dow, a leading chemical manufacturing company, announced the launch of new conformal coatings. DOWSIL CC-820 UV and Moisture Dual Dual-Core Conformal Coatings were launched to promote sustainability and safety.
Key Segments Covered in Electronic Conformal Coatings Industry Research:
· Electronic Conformal Coatings Market by Method :
- Dipping
- Selective Coatings
- Vapor Deposition
- Other Methods
· Electronic Conformal Coatings Market by Material :
- Acrylic Electronic Conformal Coatings
- Silicone Electronic Conformal Coatings
- Polyurethane PCB Coatings/Urethane
- Other Materials
· Electronic Conformal Coatings Market by Equipment :
- Coating & Dispensing Systems
- Curing Systems
- Inspection Systems
· Electronic Conformal Coatings Market by Application :
- Automotive Electronics
- Aerospace & Defense
- Consumer Electronics
- Other Applications
· Electronic Conformal Coatings Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Electronic Conformal Coatings include:
- What is the key strategy deployed by large players to maximize Electronic Conformal Coatings growth?
- What are the main challenges faced by players in the Electronic Conformal Coatings Demand?
- With the advent of technological advancement, how will the Electronic Conformal Coatings landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Electronic Conformal Coatings size?
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