As per a market research and competitive intelligence provider, the global conformal coatings market for printed circuit boards is slated to reach a valuation of nearly US$ 15 Bn by 2031.
Conformal coatings are protective chemical coatings that protect electronic circuit boards from harsh environments that contain moisture, salt, or other contaminants. Conformal coatings ensure operational integrity of the electronic assembly by preventing it from voltage arcing, shorts, and static discharge. Generally, conformal coatings meant for protecting printed circuit boards (PCBs) are based on acrylic, silicone, polyurethane, epoxy, parylene, etc.
Conformal coatings are finding wide application in PCBs owing to their prevention in absorption of moisture and dust, contamination of surface due to airborne ionic materials, etc., which results in quick deterioration in the performance of PCBs.
Owing to the protection offered to high-performing electronics from environmental conditions impacting circuit performance leading to premature failure, demand for conformal coatings for PCBs is likely to grow positively over the coming years.
- Global conformal coatings market for printed circuit boards to top US$ 15 Bn by 2031.
- Acrylic conformal coatings for PCBS projected to reach around US$ 7 Bn by 2031.
- Epoxy conformal coatings is projected to record above 4% CAGR over next 10 years.
- Market in Japan to record 2% CAGR over forecast period of 2021- 2031.
- China forecast to reach projected market size above US$ 3 Bn by 2031.
- Market in Canada projected to expand at above 3% CAGR over 10 years.
“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 Senior Research Analyst.
Key manufacturers with significant production capacities dominate the global conformal coatings market for printed circuit boards. Large players are highly integrated, which helps them reduce production costs and gain a competitive edge in the market.
Key players focus on the latest innovations and technologies in order to enhance their market share and serve diverse industries. Prominent companies have an advantage due to their extensive presence across the value chain as compared to other manufacturers of conformal coatings for printed circuit boards.
Several market leaders are heavily capitalizing on R&D accomplishments in order to develop exceptional environment-friendly coatings products.
These insights are based on a report on Conformal Coatings Market by Fact.MR.