Electronics Conformal Coating Market by Type (Acrylic, Polyurethane, Hybrid, Silicone, Epoxy)
The Electronics Conformal Coating Market revenue was estimated at US$ 1.0 billion in 2022 and is anticipated to grow at a CAGR of 5.1 % from 2023 to 2032. By the end of 2032, the market is expected to reach a revenue of US$ 1.7 billion.
The electronics conformal coatings used in the electronics and telecommunication vertical is expected to dominate the market with a projected CAGR of 4.9 % from 2023 to 2032.
Rising use of electronics conformal coating in automobile electronics is predicted to boost the electronics conformal coating market. An increased adoption of this product has also been witnessed in the consumer electronics segment.
Printed circuit boards play a crucial role in various industries such as automobiles and consumer devices. These circuits can be protected from corrosion and the elements by applying a conformal coating, which is a thin polymeric film.
Printed circuit boards and other electronic equipment can be coated with conformal coatings to shield them from moisture, salt, chemicals, temperature extremes, mold growth, and electrical failures.
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Such circuits are used heavily in consumer electronics like mobile phones and home appliances. With the rise in the demand for consumer electronics globally, this is another factor that is expected to keep market growth for electronic conformal coatings steady.
Printed circuit boards are commonly used in cars for a wide range of applications such as navigation and control systems. As a result, electronic conformal coating is used extensively by automobile manufacturers to protect the electronics within the car from environmental factors. It is projected that as the demand for automobiles rises globally, the market for electronic conformal coating would expand during the forecast period.
Key Takeaways from Electronics Conformal Coating Market
“The predominant USP of electronic conformal coating is its safety premise,which has become an essential for the automotive and consumer electronics industry. Manufacturers and investors must focus on mass production in the South Asian market for maximum benefits.” – says a Lead Analyst
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Competitive Landscape: Electronics Conformal Coating Market
The market players are investing heavily in research and development for new and better products with accurate results. The companies are also focusing on product launches and expansions to augment their market positions.
For example,
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Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the Electronics Conformal Coating market presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
The study reveals extensive growth
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Jun 18, 2023