The newly launched report by Stratview Research, titled ‘Conformal Coating Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026’ has been bifurcated by Type (Acrylic, Silicone, Epoxy, Urethane, Parylene, and Others), by End-Use Industry Type (Consumer Electronics, Automotive, Aerospace & Defense, Industrial, Telecommunication, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report Conformal Coating market is likely to witness a CAGR of 5.5% during the forecast period. The prime factor that is driving the conformal coating market is its growing demand from the global PCB industry.
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Market Segmentation Analysis -
Based on the type, the market is segmented as acrylic, silicone, epoxy, urethane, parylene, and others. Acrylic coating dominated the market in 2019, and is expected to maintain its position during the forecast period. Acrylic coatings are widely used in consumer electronics, aerospace & defense, and automotive industries, leading to its dominance in the global conformal coatings market.
Based on the end-use industry type, the conformal coating market is segmented as consumer electronics, automotive, aerospace & defense, industrial, telecommunication, and others. The consumer electronics segment held the largest share of the market in 2019, and is also expected to witness a healthy growth during the forecast period. Significant economic development in the emerging economies along with the growing disposable income of consumer is the major factor behind the dominance of the consumer electronics segment.
In terms of regions, North America is expected to remain the largest market during the forecast period, mainly driven by the USA. Asia-Pacific is estimated to be the fastest-growing market for conformal coatings during the forecast period. China, Japan, South Korea, Taiwan, and India are the key countries driving the growth of the region’s market. Significant economic development in the region is paving the path of transportation, electricals & electronics, medical, and industrial sectors, leading to a higher demand for conformal coating in the region.
Key Players
The following are the key players in the market-
Research Methodology
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