Conformal Coatings Market – Growth, Trends, and Forecast (2020 - 2025)

The market is segmented By Product Type (Acrylic, Epoxy, Urethane, Silicone, and Other Types), Application (Automotive, Aerospace, and Defense, Medical, Consumer Electronics, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

5.5 %

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Market Overview

The market for conformal coatings is expected to grow at a CAGR of more than 5.5% during the forecast period. Major factors driving the market studied are the growing aerospace & defense industry.

  • Rising medical applications in Asia-Pacific is expected to act like an opportunity to the market.
  • Asia-Pacific dominated the market across the globe with the largest consumption in a country such as China, India, etc.

Scope of the Report

The conformal coatings market report includes:

Product Type
Acrylic
Epoxy
Urethane
Silicone
Other Types (Parylene and Fluorocarbon)
Application
Automotive
Aerospace and Defense
Medical
Consumer Electronics
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Aerospace and Defense Segment to Dominate the Market

  • The aerospace and defense segment contributes a significant share in the conformal coatings market. Conformal coatings are widely used in applications, such as radar/detection equipment, satellite electronics, power supplies, circuit card assemblies, etc.
  • The major aerospace application includes Microelectromechanical (MEMS) applications. These applications include the protection of engine management, cockpit, flight control, and sensor systems.
  • Furthermore, conformal coatings are also used to protect the exterior body from UV radiation, LED lighting, and surface discoloration. They are used in the advanced sensor systems, including fighter jets, missiles, and rocketry, radio and radar devices, etc.
  • The United States’ defense budget is continuously increasing as a result of the rising global tensions and the country’s desire to equip the armed forces with modern platforms.
  • The above-mentioned scenario is likely to boost the aircraft production, which, in turn, is expected to propel the demand for conformal coatings in the aerospace sector
  • The growth in the total demand for commercial aircraft is expected to increase over the next few years, with stable GDP growth and strong passenger travel demand in the Middle East and Asia-Pacific regions.
  • Such factors are, in turn, boosting the demand for the conformal coatings market in the aerospace sector.

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India to Dominate the Asia-Pacific Region

  • India is a growing economy and holds great potential for future market opportunities. The medical sector in India is benefiting from increasing population, which is growing at a rate of 1.6 % per year.
  • An aging population of over 100 million, coupled with incidences of lifestyle diseases, such as sugar, diabetics, etc., are raising the number of health insurances, and are, in turn, fueling the growth of the healthcare sector.
  • The Indian government has started initiatives to decrease the import and increase the local production of medical devices, particularly higher-end products, which include cancer diagnostics, medical imaging, ultrasonic scans, and PCR technologies.
  • India has the world’s third-largest TV market and is one of the largest growing markets for electronic products. According to IBEF, by 2020, the LED market and television industry are expected to expand to USD 35 billion and USD 16.8 billion, respectively.
  • Increasing penetration of high-end electronic products, such as HDTVs, tablets, LCD, and LEDs is increasing the usage of conformal coatings.
  • With the various end-user industries growing in the country the demand for conformal coatings is also increasing. 

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Competitive Landscape

The Conformal market is consolidated. Some of the major players include Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, ITW, Shin-Etsu Chemical Co. Ltd, among others. 

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Aerospace & Defence Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Epoxy

      3. 5.1.3 Urethane

      4. 5.1.4 Silicone

      5. 5.1.5 Other Types (Parylene and Fluorocarbon)

    2. 5.2 Application

      1. 5.2.1 Automotive

      2. 5.2.2 Aerospace and Defense

      3. 5.2.3 Medical

      4. 5.2.4 Consumer Electronics

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Altana

      2. 6.4.2 Chase Corp.

      3. 6.4.3 CHT UK Manchester Ltd

      4. 6.4.4 Dow

      5. 6.4.5 Dymax Corporation

      6. 6.4.6 Electrolube

      7. 6.4.7 H.B. Fuller Company

      8. 6.4.8 Henkel AG & Co. KGaA

      9. 6.4.9 ITW

      10. 6.4.10 Kisco Ltd

      11. 6.4.11 MG Chemicals

      12. 6.4.12 Panacol-Elosol GmbH

      13. 6.4.13 Shin-Etsu Chemical Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Medical Applications in Asia-Pacific

** Subject to Availability

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