Conformal Coatings Market Size and Share Analysis by Material (Acrylic, Epoxy, Urethane, Silicone, Parylene), Application Method (Manual spraying or Automated spraying, Selective Coating, Brush Coating, Dipping, Chemical Vapor Deposition), End User (Consumer Electronics, Automotive, Medical Devices, Aerospace & Defense, Industrial, Power & Energy) - Global Industry Revenue Estimation and Demand Forecast to 2030

Conformal Coating Market Outlook

The global conformal coating market was valued at USD 1,357.0 million in 2023, which is expected to reach USD 1,953.8 million by 2030, growing at a CAGR of 5.6% during 2024–2030.

• The key factor credited for the sector’s growth is the high-volume use of these materials in a number of industries, including power & energy, consumer electronics, medical devices, aerospace & defense, and automotive.
• In addition, the rapid miniaturization of circuits and electronic appliances has led to the increasing demand for conformal coatings.
• Additionally, the rise in the number of applications of modern PCBs is fueling the demand for these chemicals.

Further, a number of key players are now entering other stages of the supply chain apart from the manufacturing of the final product, such as the distribution and manufacturing of raw materials. For instance, Shin Etsu Chemical Company and Dow Corning Corporation have ventured into the distribution domain. Companies are primarily doing so in order to save the costs paid to mediators and third parties.

Moreover, the global electrification trend, increasing demand for wireless connectivity, and technological advancements in a number of industries are contributing in the market growth. Similarly, the surging popularity of wearable electronic devices is a major driver for the market.

• Therefore, the manufacturing of printed circuit boards is on the rise, which is propelling the market growth.
• The demand for PCBs has spiked significantly within the electronic sector due to the increasing use of mobiles, laptops, tablets, smart home appliances, and other connected devices.
• The growth in the usage of PCBs is also credited to a surge in the adoption of internet of things (IoT) devices, enhancements in automotive-related technologies, and rising level of automation in the industrial sector.

Conformal coatings have a critical role in this regard as they provide the required protection to the complex electric components and circuits placed on PCBs. The susceptibility of such electrical components to environmental factors, such as dirt, chemicals, temperature variations, and moisture, rises as PCBs decrease in size and become more intricate and compactly packed. The film provided by such coatings protects printed circuit boards from environmental adversities, thereby guaranteeing their durability, ideal performance, and dependability.

In addition, the manufacturing of high-quality and complex PCBs is surging due to the rise of self-driving vehicles, electric vehicles, 5G, and digitalization. It becomes crucial to protect PCBs against damage, to avoid recurrent replacements and save on expenses.

• For example, electronics claiming moisture resistance and waterproofing are characterized by the provision of protection to PCBs.
• Such factors are likely to boost the demand for conformal coatings among a number of end users, such as aerospace & defense, automotive, telecommunications, home electronics, and power & energy.

Moreover, the need for optimal capacity, high density, as well as high frequencies in printed circuit boards as an essential requirement is witnessing a fast growth. Specifically, the PCBs in the battery management systems (BMS) in automobiles function under extremely high temperatures. The above-mentioned features cumulatively showcase the importance of utilizing such coatings for such devices.

Electrification of Automotive Industry To Drive Sales Growth

Electrification in the automotive industry is happening at a fast pace, which is likely to have a positive impact on the market growth. The new types of electric vehicles are incorporated with a large number of electronic components, as each of their functions is controlled by processors and microcontrollers. Some of the electronic systems that are becoming popular in the automotive sector are:

• Infotainment systems
• Ambient interior lights
• Advanced electronic recliner seats
• Advanced driver assistance systems (ADAS)
• Chassis electronics
• Electronic transmissions
• Electric and hybrid engines
• Advanced passive safety systems, which include airbags and automatic seatbelts

PCBs form the base on which all the electrical components are affixed, and they, in turn, enable all of modern vehicles’ functionalities. Conformal coatings can improve the shelf life of automotive electronics, which, in turn, enhances the overall dependability of automobiles, which is extremely crucial in the automotive sector. This coating has a crucial role in the formation of strong and reliable automotive electrical components that can withstand the severe external circumstances encountered throughout the service life of the automobile.

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Acrylic Category To Maintain Its Dominance in Material Segment

The acrylic category leads the industry within the material segment, accounting for 45% share in 2023.

• Acrylic is an ideal raw material for a number of application-specific coatings that are created for easy application and removal, affordability, and other benefits.
• In addition, this material dries more quickly in comparison to others. This characteristic drives its utilization in diverse applications in the electronics and automotive sectors.
• Moreover, during the curing procedure, the heat released by acrylics eliminates the possible risk of damage to heat-sensitive components.

The epoxy category is expected to hold a significant share during the forecast period too. This is because of the ideal properties possessed by epoxy coatings, including dielectric properties and resistance to solvents, moisture, chemicals, and harsh environmental factors, which makes them apt for appliances consisting of complex internal circuitry. Additionally, epoxy is firm as well as insensitive to abrasion, due to which such coatings are extensively used in the production of home electronics as well as circuits.

The silicone category is expected to witness the highest CAGR, of 7%, during the forecast period.

• Silicon is apt for a number of industries as it provides a suitable amalgamation of robustness and flexibility, while offering strong protection.
• It possesses the potential to conform appropriately to intricate shapes, thereby ensuring proper coverage as well as protection against environmental factors, such as temperature variations, chemicals, moisture, and dirt.
• Additionally, silicone is thermostable, which makes it resistant to extreme temperature fluctuations.
• Further, its high dielectric strength helps in insulating against electric currents, which is important for protecting the equipment and users against shocks.

Other characteristics that are contributing in the category’s growth include silicone’s chemical resistance and anticorrosive nature, which aids in protection against corrosive elements. In addition, its UV and harsh weather resistance characteristics makes it appropriate for external applications. Industries such as aerospace and automotive are prone to vibrations. Here silicone coatings play an important role as they possess vibration-damping properties, which aid in improving the longevity of the electrical components used in such industries.

Additionally, where other materials face the issues of price and regulatory compliance, silicone coatings get the most out of their adaptable nature, making them an ideal choice for sectors ranging from consumer electronics to power & energy.

Consumer Electronics Category Leads End User Segment

Based on end user, consumer electronics are expected to dominate the market, with a share of 30%, during the estimation time frame. This is because of the increasing number of product launches within this industry. For instance, in September 2023, Apple Inc. launched iPhone 15th generation across the globe. Moreover, in August 2023, TCL launched the NXTPAPER smartphone series.

The rising number of product launches in this sector has significantly ramped up the consumption of conformal coatings among electronics companies.

• In October 2021, Dow Chemical Company launched DOWSIL CC-2588 conformal coating, which is an abrasion-resistant and tough-silicone-based substance that shields circuit boards’ electrical elements against corrosion and moisture.
• This product does not have an odor and extremely low content of volatile organic compounds (VOCs).
• It cures at normal room temperature for low energy utilization, aids spraying for high throughputs, and allows automated inspection apparatus to utilize ultraviolet light to recognize any cavities in the conformal coating.

Moreover, the automotive sector is expected to witness robust growth during the forecast period. The world is concentrating on reducing carbon emissions because of the growing environmental concerns arising due to traditional vehicles, which are powered by fossil fuels. This has caused governments as well as automakers to manufacture fuel-efficient or electric and hybrid vehicles. Further, the introduction of connected and luxury vehicles has significantly boosted the sale of electronic systems, such as GPS, infotainment systems, sensors, and advanced driver assistance systems. This, in turn, is contributing in the market growth as conformal coatings help in ensuring the longevity and ideal functioning of automotive controls.

APAC To Witness Fastest Growth during Projection Period

Our regional analysis suggests that Asia-Pacific will expand at the highest CAGR, of 6%, over the prediction period.

• This can be credited to the fact that a large number of overseas businesses in industries such as electronics, aerospace, power & energy, and manufacturing are setting up their manufacturing plants in the region.
• This has led to a high demand for conformal coatings as all these industries integrate PCBs into a wide number of products.
• In addition, the growing telecommunications industry, rapid industrialization, booming IT sector, surging R&D spending by key industries, and rising disposable income in China, India, Taiwan, South Korea, and Thailand drive the market growth.
• Further, the fast economic growth in developing countries, such as India and China, as well as their growing middle-class populations, which spend significantly on cutting-edge electronic appliances, will help the regional market thrive during the forecast period.

Top Conformal Coating Manufacturers Are:

• Chase Corporation
• Electrolube Limited
• Europlasma NV
• MG Chemicals
• Kisco Ltd.
• Dymax Corporation
• ELANTAS GmbH
• CHT Group
• CSL Silicones Inc.

Market Size Breakdown by Segment

This fully customizable report gives a detailed analysis of the conformal coatings market from 2017 to 2030, based on all the relevant segments and geographies.

Based on Material

• Acrylic
• Epoxy
• Urethane
• Silicone
• Parylene

Based on Application Method

• Manual spraying or Automated spraying
• Selective Coating
• Brush Coating
• Dipping
• Chemical Vapor Deposition

Based on End User

• Consumer Electronics
• Automotive
• Medical Devices
• Aerospace & Defense
• Industrial
• Power & Energy

Region/Countries Reviewed for this Report

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.