The global conformal coatings market size was valued at USD 992.1 million in 2023 and is projected to grow from USD 1,047.1 million in 2024 to USD 1,647.9 million by 2032, exhibiting a CAGR of 5.8% during the forecast period. Robust adoption of the electric automotive sector and increasing miniaturization trends are likely to foster the industry’s growth. Fortune Business Insights™ presents this information in its report titled “Conformal Coatings Market, 2025-2032.”
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Segmentation Analysis:
Acrylic Segment to Lead Owing to Strong Adoption from the Electronic Manufacturing Industry
By product, the market is segmented into acrylic, epoxy, urethane, silicone, parylene, and others. The acrylic segment is expected to dominate, owing to robust demand from the electronic manufacturing industry.
Consumer Electronics Segment to Lead Owing to Strong Demand for Miniaturized Electronic Applications
As per end-use industry, the market is classified into automotive, medical, aerospace & defense, consumer electronics, and others. The consumer electronics segment may dominate due to increasing demand for miniaturized electronic applications.
Regionally, the market is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Drivers and Restraints
Strong Demand from Consumer Electronics Industry to Foster Market Growth
Conformal coatings are polymer-based materials applied on PCB. It is a thin layer that protects several products at hand. The increasing demand for conformal coatings from the consumer electronics industry may bolster the product adoption. Further, the extensive adoption of coatings from automotive, consumer electronics, and other industries may bolster the product adoption. Also, the rising implementation of novel technologies such as Artificial Intelligence (AI) and Machine Learning (ML) is anticipated to drive the conformal coatings market growth.
However, strict environmental regulations by governments may hinder the industry’s progress.
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Regional Insights
Robust Demand from the Electronics Manufacturing Industry to Fuel Market Growth in Asia Pacific
Asia Pacific is expected to dominate the conformal coatings market share due to robust demand from the electronics manufacturing industry. The market in Asia Pacific is expected to touch USD 767.3 million in 2021 and is likely to gain a huge portion of the global market share in the coming years.
In North America, the robust demand for electric vehicles is likely to foster the product adoption. Furthermore, the rising adoption of electronics in hybrid and electric vehicles is likely to foster the market’s progress in the upcoming years.
In Europe, the increasing product adoption from the automotive sector is expected to foster the industry’s growth.
Competitive Landscape
Major Players Devise Novel Product Launches to Enhance their Brand Image
The prominent companies operating in the market announce novel products to boost their brand image. For example, Electrolube introduced its novel UV Cure Coating Xtra (UVCLX) in October 2021. The product is developed by utilizing organic content sourced from renewable means. This strategy may enable the company to boost its brand image globally. Furthermore, key players deploy research and development, mergers, expansions, acquisitions, and expansions to elevate their market position.
Key Industry Development
March 2022 – HumiSeal launched its UV500-2 conformal coating, offering enhanced PCB protection and improved performance under thermal and mechanical stress, ideal for automotive and white goods applications.
April 2022 – Shin-Etsu Silicones of America introduced the MR-COAT-01F and 02F conformal coating series, featuring high hardness, excellent elongation, and superior abrasion resistance to minimize stress on PCB components.
List of Key Players Profiled in Conformal Coatings Market Report
Chemtronics (South Korea)
Henkel AG & Company (Germany)
Shin-Etsu Chemical Co., Ltd (Japan)
Dow (U.S.)
Chase Corporation (U.S.)
Dymax Corporation (S.)
Specialty Coating Systems (U.S.)
Electrolube (K.)
B. Fuller (U.S.)
G. Chemicals (Canada)
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