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The global conformal
coatings market size was valued at USD 899.1 million in 2021 and
touched USD 940.8 million in 2022. The market is expected to touch USD 1,392.8
million by 2029, exhibiting a CAGR of 5.8% during 2022-2029. Robust adoption of
the electric automotive sector and increasing miniaturization trends are likely
to foster the industry’s growth. Fortune Business Insights™ presents
this information in its report titled “Conformal Coatings Market, 2022-2029.”
COVID-19 Impact:
Supply Chain Disruptions Hampered the Market’s Progress
The industry was negatively affected during the COVID-19 pandemic
due to supply chain disruptions. Moreover, the increasing spike in COVID-19
infections led to supply chain restrictions. The halt of transport and travel
led to the lack of raw materials for the coatings’ production. However, the
adoption of industrial automation reduced capacities, and part-time shifts
empowered companies to recover costs and boost their market position. This
factor favored industry growth.
Source: https://www.fortunebusinessinsights.com/conformal-coatings-market-102867
Report Coverage
The report provides a detailed analysis of the top segments and
the latest trends in the market. It comprehensively discusses the driving and
restraining factors and the impact of COVID-19 on the market. Additionally, it
examines the regional developments and the strategies undertaken by the
market's key players.
Segments
Acrylic Segment to Lead Owing to Strong Adoption from the
Electronic Manufacturing Industry
By product, the market is segmented into acrylic, epoxy, urethane,
silicone, parylene, and others. The acrylic segment is expected to dominate,
owing to robust demand from the electronic manufacturing industry.
Drivers and Restraints
Strong Demand from Consumer Electronics Industry to Foster Market
Growth
Conformal coatings are polymer-based materials applied on PCB. It is a
thin layer that protects several products at hand. The increasing demand for
conformal coatings from the consumer electronics industry may bolster the
product adoption. Further, the extensive adoption of coatings from automotive,
consumer electronics, and other industries may bolster the product adoption.
The global conformal
coatings market size was valued at USD 899.1 million in 2021 and
touched USD 940.8 million in 2022. The market is expected to touch USD 1,392.8
million by 2029, exhibiting a CAGR of 5.8% during 2022-2029. Robust adoption of
the electric automotive sector and increasing miniaturization trends are likely
to foster the industry’s growth. Fortune Business Insights™ presents
this information in its report titled “Conformal Coatings Market, 2022-2029.”
COVID-19 Impact:
Supply Chain Disruptions Hampered the Market’s Progress
The industry was negatively affected during the COVID-19 pandemic
due to supply chain disruptions. Moreover, the increasing spike in COVID-19
infections led to supply chain restrictions. The halt of transport and travel
led to the lack of raw materials for the coatings’ production. However, the
adoption of industrial automation reduced capacities, and part-time shifts
empowered companies to recover costs and boost their market position. This
factor favored industry growth.
Source: https://www.fortunebusinessinsights.com/conformal-coatings-market-102867
Report Coverage
The report provides a detailed analysis of the top segments and
the latest trends in the market. It comprehensively discusses the driving and
restraining factors and the impact of COVID-19 on the market. Additionally, it
examines the regional developments and the strategies undertaken by the
market's key players.
Segments
Acrylic Segment to Lead Owing to Strong Adoption from the
Electronic Manufacturing Industry
By product, the market is segmented into acrylic, epoxy, urethane,
silicone, parylene, and others. The acrylic segment is expected to dominate,
owing to robust demand from the electronic manufacturing industry.
Drivers and Restraints
Strong Demand from Consumer Electronics Industry to Foster Market
Growth
Conformal coatings are polymer-based materials applied on PCB. It is a
thin layer that protects several products at hand. The increasing demand for
conformal coatings from the consumer electronics industry may bolster the
product adoption. Further, the extensive adoption of coatings from automotive,
consumer electronics, and other industries may bolster the product adoption.
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