Market Overview:
The North American Conformal
Coatings Market has witnessed a staggering growth in the recent past as a
result of increased demand for consumer electronics. Shift towards connected
devices and telematics as a result of the Internet of Things (IoT) is driving
the market growth in the U.S. Usage of
conformal coatings in the aerospace is booming due to increase in manufacturing
of aircraft and defence equipment. For instance, according to the International
Trade Association, the U.S. aerospace industry accounted for exports worth USD
147 billion in 2016. Growing demand for wearable devices, wireless speakers and
electric vehicles is propelling the market growth for electronic devices.
Additionally, the Canadian government’s connecting programme to provide
internet connection to each and every person in Canada is stimulating the
product demand.
In the European region, the
product demand in electronic devices is increasing at a significant rate due to
the strict regulations laid by the European Union (EU) to reduce the carbon
emission. Moreover, industries using conformal coatings must comply with the
requirements of the REACH system (Registration, Evaluation, and Authorization of
Chemicals) due to use of volatile solvents in conformal coatings. Germany is
set to witness elevated growth over the forecast period due to expertize in the
production of essentials for printed technology such as electronic devices,
printing processes and chemicals.
The Asia Pacific is the fastest
growing region due to increasing penetration in consumer electronics coupled
with the presence of large consumer base. The product is widely consumed in
China due to the presence of major electronics industry players such as
Foxconn, Jabil and Flextronics. Additionally, according to the Indian Brand
Equity Foundation, total production of Indian electronics hardware goods is
expected to rise over USD 100 billion by 2020. Introduction to robotics to
manage process and equipment for nuclear power generation is propelling the
market growth.
Key Players
·
Dow Chemical Industry
·
Specialty Coatings System Inc.
·
Global Manufacturing Services, Inc
·
HemiSeal
·
Henkel AG & Co. KgaA
·
Chemtronics
·
H.B.Fuller Company
·
Electrolube
·
Europlasma NV
·
Shin-Etsu Chemical Co., Ltd
Market Segmentation
The global Conformal Coatings
Market is segmented into type, end-use industry, and region.
Based on of the type, the market
is divided into acrylics, epoxy, urethane, silicone, parylene and others.
Based on the end-use industry,
the market is segmented into electronics, automobile, aerospace, marine and
others.
Geographically, the market is
divided into five regions including North America, Europe, Asia Pacific, Latin
America, and the Middle East & Africa.
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