Conformal Coatings Market Size Worth $1,493.46 Million by 2030: Grand View Research, Inc.
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Read 76-page market research report, "Conformal Coatings Market Size, Share & Trends Analysis Report By Product (Acrylic, Epoxy, Urethane, Silicone, and Parylene), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Conformal Coatings Market Growth & Trends
The conformal coatings provide improved product characteristics, including high heat, dust, moisture resistance, corrosion resistance, and improved overall durability. The use of conformal coating has driven the demand for high-quality dispensing mechanisms to dispense conformal coatings effectively, since poor dispersion results in cracks in the coating layer and affects PCB functions. In January 2021, Delta Electronics, Inc. provided a PCB conformal coating dispensing and inspection solution to an electronic automotive component manufacturer in Tianjin, China. The mechanism dispenses coatings through a nozzle and triggers an alarm in case of insufficient or improper dispensing.
Players in the conformal coatings market are adopting merger & acquisition initiatives to expand their reach. For instance, in May 2021, Element Solutions, Inc. acquired H.K. Wentworth Limited, a U.K.-based company involved in manufacturing conformal coatings, thermal management materials, electronic cleaning solutions, and encapsulation resins. The company has a presence in over 55 countries and caters to end-user markets, including aerospace & defense, medical, telecommunications, and consumer electronics. This acquisition can help Element Solutions, Inc. to expand its conformal coatings manufacturing capacity in various end-use markets.
Due to the presence of several players in the conformal coatings market, the competitive rivalry is high. Conformal coating manufacturers collaborate with other market players to increase their market share. For instance, in May 2021, Dymax and HZO, Inc. entered into a strategic alliance to facilitate joint product development, formulate existing coating solutions, and accelerate market reach. Dymax is involved in producing conformal coatings, and such initiatives can strengthen its position in the conformal coatings market.
Conformal Coatings Market Segmentation
Grand View Research has segmented the global conformal coatings market based on product, application, and region:
Conformal Coatings Product Outlook (Revenue, USD Million, 2019 - 2030)
Conformal Coatings Application Outlook (Revenue, USD Million, 2019 - 2030)
Conformal Coatings Regional Outlook (Revenue, USD Million, 2019 - 2030)
List of Key Players in the Conformal Coatings Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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