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Conformal Coatings Market to Reach USD 12.28 Billion by 2021: M&M

Published on 2016-07-07. Author : SpecialChem

The report "Conformal Coatings Market by Type (Acrylics, Epoxy, Urethane, Silicone, Parylene, and Others), by End-Use Industry (Automotive & Transportation, Electronics, Aerospace & Defense, Industrial, Marine, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Global Trends & Forecasts to 2021", The global conformal coatings market size is estimated to grow from USD 9.75 Billion in 2016 to USD 12.28 Billion by 2020, at a CAGR of 4.7%.


Fig. 1: Conformal Coatings Market to Reach USD 12.28 Billion by 2021: M&M

The market is driven by increasing demand for conformal coatings in emerging markets and high demand from the electronics, aerospace & defense, automotive & transportation, industrial, and marine industries. Asia-Pacific is projected to witness s strong growth in the future. Growth in this region can be attributed to high demand from emerging markets such as China and India.

Acrylics and epoxy, the largest types of conformal coatings


The growing popularity of various types of conformal coatings such as acrylics, epoxy, urethane, and silicone in various end-use applications plays a significant role in driving the market. Acrylics conformal coatings accounted for the maximum share in terms of value due to their cost-effectiveness, and easy to apply and remove properties. The rising demand of environmentally friendly conformal coatings such as Volatile Organic Compounds (VOCs)-free coatings in countries such as Germany, and France is expected to drive this market.

Marine industry, the fastest-growing market among the end-use industries for conformal coatings

In 2015, Asia-Pacific dominated the conformal coatings market and also registered the highest growth rate between 2016 and 2021. The Asia-Pacific region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India. China is the largest market for conformal coatings globally with major demand from the electronics industry. The Indian government has started investment promotion programs to assist companies that are developing and manufacturing PCBs and thus pushing the growth of this market upward.

The key companies profiled in the conformal coatings market research report are Chase Corporation (U.S.), Henkel AG & KGaA (Germany), Illinois Tool Works (U.S.), Shin-Etsu Chemical Company Limited (Japan), Dow Corning (U.S.), H.B. Fuller (U.S.), Electrolube (U.K.), Europlasma NV (Belgium), MG Chemicals (Canada), and Kisco Conformal Coatings (Japan).

About MarketsandMarkets

MarketsandMarkets annually publishes premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. It specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

Source:
MarketsandMarkets

 

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