Product Code: 12869
Market Overview
The global conformal coating market was valued at USD 1,357.0 million in 2023, which is expected to reach USD 1,953.8 million by 2030, growing at a CAGR of 5.6% during 2024-2030.
The primary reason attributed to its expansion is the high-volume application of these materials with almost all the involved sectors from power & energy, consumer electronics, medical devices, aerospace & defense, and automotive. Also, smaller circuits and electronic components shrink in size, and a coating protects them against the same micro-sized components, which is also one cause of conformal coatings.
In addition, many of the key players are now shifting their scope of operation to other stages of the supply chain from the manufacture of the finished product, for example, the acquisition of raw materials and distribution of the finished product. As an example, Shin Etsu Chemical Company and Dow Corning Corporation have begun the selling sector. In this case, companies use this Access to start saving on money paid to third parties.
Electrification is rapidly transforming the global auto industry and this trend is arguably going to lead to a favorable outcome for the whole market. A high volume of electronic goods is used to construct a particular type of electric vehicle with each function being controlled by processors and microcontrollers.
Key Insights
In 2023, the acrylic category grips 45% industry share in the material segment.
Acrylic is favored for its ease of application, affordability, and rapid drying properties.
It features its application in electronics and automotive industries as it can be cured at high levels and dries quickly.
Epoxy makes another substantial share in the market as it has various desirable characteristics like high dielectric strength, solvent resistance, and durability. Thus, it can be used for all appliances with complicated circuitry.
Category silicone is expected to hit 7% by 2025 CAGR thanks to its high durability, flexibility, and strong protection.
Silicon can form in a mold that has the required intricate shape, stands at extreme temperatures, conducts electricity, and resists chemicals and corrosion qualifying it for many industries.
The silicone coatings offer a great advantage in those industries with a significant vibration effect such as aerospace and automotive engineering as they have impressive vibration-damping properties.
Consumer electronics are projected to lead the industry with a 30% share, propelled by several product introductions like Apple's iPhone 15th generation and TCL's NXTPAPER smartphone series.
Augmented product introductions in the electronics industry have led to advanced usage of conformal coatings.
The automotive industry is projected to experience strong development because of emphasis on decreasing carbon releases, directing to the production of fuel-effective, electric, and HVs, along with connected and luxury vehicles that depend heavily on electronic systems.
The APAC region is projected to experience the highest CAGR of 6% over the projection period, propelled by the establishment of manufacturing plants by overseas businesses in sectors like electronics, aerospace, power & energy, and manufacturing.
The region's growing telecommunications industry, rapid industrialization, booming IT sector, increased R&D spending, and rising disposable income in countries like China, India, Taiwan, South Korea, and Thailand contribute to market growth.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by material
- 1.4.2. Market size breakdown, by application method
- 1.4.3. Market size breakdown, by end user
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Material (2017-2030)
- 6.3. Market Revenue, by Material (2017-2030)
- 6.4. Market Volume, by Application Method (2017-2030)
- 6.5. Market Revenue, by Application Method (2017-2030)
- 6.6. Market Volume, by End User (2017-2030)
- 6.7. Market Revenue, by End User (2017-2030)
- 6.8. Market Volume, by Region (2017-2030)
- 6.9. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Material (2017-2030)
- 7.3. Market Revenue, by Material (2017-2030)
- 7.4. Market Volume, by Application Method (2017-2030)
- 7.5. Market Revenue, by Application Method (2017-2030)
- 7.6. Market Volume, by End User (2017-2030)
- 7.7. Market Revenue, by End User (2017-2030)
- 7.8. Market Volume, by Country (2017-2030)
- 7.9. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Material (2017-2030)
- 8.3. Market Revenue, by Material (2017-2030)
- 8.4. Market Volume, by Application Method (2017-2030)
- 8.5. Market Revenue, by Application Method (2017-2030)
- 8.6. Market Volume, by End User (2017-2030)
- 8.7. Market Revenue, by End User (2017-2030)
- 8.8. Market Volume, by Country (2017-2030)
- 8.9. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Material (2017-2030)
- 9.3. Market Revenue, by Material (2017-2030)
- 9.4. Market Volume, by Application Method (2017-2030)
- 9.5. Market Revenue, by Application Method (2017-2030)
- 9.6. Market Volume, by End User (2017-2030)
- 9.7. Market Revenue, by End User (2017-2030)
- 9.8. Market Volume, by Country (2017-2030)
- 9.9. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Material (2017-2030)
- 10.3. Market Revenue, by Material (2017-2030)
- 10.4. Market Volume, by Application Method (2017-2030)
- 10.5. Market Revenue, by Application Method (2017-2030)
- 10.6. Market Volume, by End User (2017-2030)
- 10.7. Market Revenue, by End User (2017-2030)
- 10.8. Market Volume, by Country (2017-2030)
- 10.9. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Material (2017-2030)
- 11.3. Market Revenue, by Material (2017-2030)
- 11.4. Market Volume, by Application Method (2017-2030)
- 11.5. Market Revenue, by Application Method (2017-2030)
- 11.6. Market Volume, by End User (2017-2030)
- 11.7. Market Revenue, by End User (2017-2030)
- 11.8. Market Volume, by Country (2017-2030)
- 11.9. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Material (2017-2030)
- 12.3. Market Revenue, by Material (2017-2030)
- 12.4. Market Volume, by Application Method (2017-2030)
- 12.5. Market Revenue, by Application Method (2017-2030)
- 12.6. Market Volume, by End User (2017-2030)
- 12.7. Market Revenue, by End User (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Material (2017-2030)
- 13.3. Market Revenue, by Material (2017-2030)
- 13.4. Market Volume, by Application Method (2017-2030)
- 13.5. Market Revenue, by Application Method (2017-2030)
- 13.6. Market Volume, by End User (2017-2030)
- 13.7. Market Revenue, by End User (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Material (2017-2030)
- 14.3. Market Revenue, by Material (2017-2030)
- 14.4. Market Volume, by Application Method (2017-2030)
- 14.5. Market Revenue, by Application Method (2017-2030)
- 14.6. Market Volume, by End User (2017-2030)
- 14.7. Market Revenue, by End User (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Material (2017-2030)
- 15.3. Market Revenue, by Material (2017-2030)
- 15.4. Market Volume, by Application Method (2017-2030)
- 15.5. Market Revenue, by Application Method (2017-2030)
- 15.6. Market Volume, by End User (2017-2030)
- 15.7. Market Revenue, by End User (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Material (2017-2030)
- 16.3. Market Revenue, by Material (2017-2030)
- 16.4. Market Volume, by Application Method (2017-2030)
- 16.5. Market Revenue, by Application Method (2017-2030)
- 16.6. Market Volume, by End User (2017-2030)
- 16.7. Market Revenue, by End User (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Material (2017-2030)
- 17.3. Market Revenue, by Material (2017-2030)
- 17.4. Market Volume, by Application Method (2017-2030)
- 17.5. Market Revenue, by Application Method (2017-2030)
- 17.6. Market Volume, by End User (2017-2030)
- 17.7. Market Revenue, by End User (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Material (2017-2030)
- 18.3. Market Revenue, by Material (2017-2030)
- 18.4. Market Volume, by Application Method (2017-2030)
- 18.5. Market Revenue, by Application Method (2017-2030)
- 18.6. Market Volume, by End User (2017-2030)
- 18.7. Market Revenue, by End User (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Material (2017-2030)
- 19.3. Market Revenue, by Material (2017-2030)
- 19.4. Market Volume, by Application Method (2017-2030)
- 19.5. Market Revenue, by Application Method (2017-2030)
- 19.6. Market Volume, by End User (2017-2030)
- 19.7. Market Revenue, by End User (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Material (2017-2030)
- 20.3. Market Revenue, by Material (2017-2030)
- 20.4. Market Volume, by Application Method (2017-2030)
- 20.5. Market Revenue, by Application Method (2017-2030)
- 20.6. Market Volume, by End User (2017-2030)
- 20.7. Market Revenue, by End User (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Material (2017-2030)
- 21.3. Market Revenue, by Material (2017-2030)
- 21.4. Market Volume, by Application Method (2017-2030)
- 21.5. Market Revenue, by Application Method (2017-2030)
- 21.6. Market Volume, by End User (2017-2030)
- 21.7. Market Revenue, by End User (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Material (2017-2030)
- 22.3. Market Revenue, by Material (2017-2030)
- 22.4. Market Volume, by Application Method (2017-2030)
- 22.5. Market Revenue, by Application Method (2017-2030)
- 22.6. Market Volume, by End User (2017-2030)
- 22.7. Market Revenue, by End User (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Material (2017-2030)
- 23.3. Market Revenue, by Material (2017-2030)
- 23.4. Market Volume, by Application Method (2017-2030)
- 23.5. Market Revenue, by Application Method (2017-2030)
- 23.6. Market Volume, by End User (2017-2030)
- 23.7. Market Revenue, by End User (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Material (2017-2030)
- 24.3. Market Revenue, by Material (2017-2030)
- 24.4. Market Volume, by Application Method (2017-2030)
- 24.5. Market Revenue, by Application Method (2017-2030)
- 24.6. Market Volume, by End User (2017-2030)
- 24.7. Market Revenue, by End User (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Material (2017-2030)
- 25.3. Market Revenue, by Material (2017-2030)
- 25.4. Market Volume, by Application Method (2017-2030)
- 25.5. Market Revenue, by Application Method (2017-2030)
- 25.6. Market Volume, by End User (2017-2030)
- 25.7. Market Revenue, by End User (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Material (2017-2030)
- 26.3. Market Revenue, by Material (2017-2030)
- 26.4. Market Volume, by Application Method (2017-2030)
- 26.5. Market Revenue, by Application Method (2017-2030)
- 26.6. Market Volume, by End User (2017-2030)
- 26.7. Market Revenue, by End User (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Material (2017-2030)
- 27.3. Market Revenue, by Material (2017-2030)
- 27.4. Market Volume, by Application Method (2017-2030)
- 27.5. Market Revenue, by Application Method (2017-2030)
- 27.6. Market Volume, by End User (2017-2030)
- 27.7. Market Revenue, by End User (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Material (2017-2030)
- 28.3. Market Revenue, by Material (2017-2030)
- 28.4. Market Volume, by Application Method (2017-2030)
- 28.5. Market Revenue, by Application Method (2017-2030)
- 28.6. Market Volume, by End User (2017-2030)
- 28.7. Market Revenue, by End User (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Chase Corporation
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Electrolube Limited
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Europlasma NV
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. MG Chemicals
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Kisco Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Dymax Corporation
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. ELANTAS GmbH
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. CHT Group
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. CSL Silicones Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports