Global Conformal Coatings Market – Industry Analysis For Forecast (2019-2027)
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Global Conformal Coatings Market is anticipated to reach a USD XX by 2027 at a CAGR of about 7% during a forecast period of 2019-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Conformal coatings are used for protecting the circuit boards and other electronic components from grating environmental conditions.
An increase in innovations of electronic devices like mobile phones and vehicle engines are boosting the demand across the globe. The rise in trend of manufacturing lightweight automobiles is expected to increase the demand for electronic components. Growth in the product demand from consumer electronics industry to protect PCB’s from dust, moisture, heat and other harsh environmental factors are expected to propel the market grwoth during the forecast period.
Acrylic segment is expected to grow at a XX % rate of CAGR during the forecast period. The growth in the market is attrbuted to its its superior properties like moisture resistance, easy application and removal for reworking, which create acrylic the preferred choice for employment in end-use applications across the globe.
The Electronic segment holds the largest share followed by automotive, medical and aerospace and defence. Use of electronic systems, music systems, GPS, and cameras in vehicles is growing rapidly and the use of conformal coatings is finding more applications. Aerospace industry with its high safety requirements also has vital application for conformal coatings, where rapid compression and decompression can affect the performance of circuitry.
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