The worldwide conformal coatings market for printed circuit boards is anticipated to reach a valuation of close to US$ 15 Bn by 2031, according to Fact.MR, a supplier of market research and competitive information.
Electronic circuit boards are shielded from severe environments that contain moisture, salt, or other pollutants by protective chemical coatings called conformal coatings. Conformal coatings protect electronic assemblies against voltage arcing, shorts, and static discharge to guarantee their operational integrity. Typically, acrylic, silicone, polyurethane, epoxy, parylene, and other materials are the basis of conformal coatings used to protect printed circuit boards (PCBs).
Due to their ability to prevent the absorption of moisture and dust, surface contamination from airborne ionic compounds, etc., which leads to a rapid decline in PCB performance, conformal coatings are widely used in PCBs.
The market for conformal coatings for PCBs is anticipated to increase favourably over the next several years due to the protection afforded to high-performing electronics against environmental conditions compromising circuit performance and resulting to premature failure.
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Key Takeaways from Market Study
- The market for printed circuit boards using conformal coatings will reach US$ 15 billion by 2031.
- The market for acrylic conformal coatings for PCBS is expected to reach $7 billion by 2031.
- Over the next ten years, epoxy conformal coatings are expected to grow at a rate over 4% CAGR.
- Market growth in Japan is predicted to be 2% between 2021 and 2031.
- By 2031, China is expected to have a market worth more than $3 billion.
- Over a ten-year period, market growth in Canada is anticipated to exceed 3% CAGR.
“With extensive application of PCBs in consumer electronics, including smartphones, computers, home appliances, and entertainment systems, along with advancement in these devices and appliances, demand for conformal coatings for PCBs is significantly growing,” says a Fact.MR analyst.
Market Competition
The global market for printed circuit board conformal coatings is dominated by a small number of major producers. Large players benefit from having a high degree of integration since it lowers their manufacturing costs and gives them an advantage over rivals.
In order to increase their market share and provide services to various sectors, major companies concentrate on new breakthroughs and technology. When compared to other manufacturers of conformal coatings for printed circuit boards, prominent firms have an advantage because of their wide presence across the value chain.
In order to create outstanding eco-friendly coatings products, some industry players are extensively using R&D successes.
More Insights Available
In its latest release, Fact.MR provides a fair study of the conformal coatings market for printed circuit boards, including historical demand data (from 2016 to 2020) and projections for the years 2021 to 2031.
Across seven major regions of the world, the study provides key market insights on the basis of product (polyurethane, acrylics, silicone, parylene, epoxy, and fluoropolymer), operation method (spray coating, dip coating, brush coating, and CVD), technology (solvent-based, water-based, and UV-cured, LED-curable), and end use (consumer electronics, medical, marine, defence, automotive, industrial machinery & equipment, and aerospace) (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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