With significant growth in consumer electronics and launch of new machines and equipment, conformal coatings are finding wide application in consumer electronics to enhance the life of the components. Owing to the protection offered to the high performing electronics from environmental conditions impacting circuit performance leading to premature failure, the demand in conformal coatings market for PCBs is likely to grow in the coming years.
According to the latest report by Fact.MR, the conformal coatings market for PCBs reached the valuation of US$ 8,871 million in 2017, and is expected to register 5.6% CAGR during 2018-2026. With extensive application of PCBs in consumer electronics, including smartphones, computers, home appliances, and entertainment systems, along with the advancement in these devices and appliances, the demand for conformal coatings market for PCBs is significantly growing.
Conformal coatings are finding wide application in PCBs owing to the environmental conditions including absorption of moisture, dust, contamination of surface due to airborne ionic materials, etc., resulting in the quick deterioration in the performance of PCBs.
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According to the report, various types of conformal coatings are used on the PCBs including epoxy, acrylic, polyurethane, silicone, fluoropolymer, and parylene. Owing to the various benefits offered by these conformal coatings they are selected by the user based on the need and requirement. For instance, polyurethane conformal coating is known for its chemical and moisture resistance, while parylene offer resistance to the solvents and extreme temperatures and provide dielectric strength.
Manufacturers Focus on Producing Conformal Coatings with Water-Based Technology
As per the report, manufacturers in the conformal coatings market for PCBs are focusing on producing green coating technologies, this is resulting in the growing popularity of the water-based technology as it eliminates the emission of volatile organic compounds. According to the study on conformal coatings market for PCBs, the demand for UV-cured technology is also increasing for protection of PCBs in consumer electronics from harmful radiation. Moreover, non-flammable and VOC-free features of the UV-cure technology are also leading to the growing demand across consumer electronics.
With the imposition of stringent regulations on VOC emission, manufacturers in the conformal coatings market for PCBs are focusing on minimizing emission through their operations by adopting eco-friendly materials and production processes. Moreover, with rising concerns of handling electronic wastes, governments across countries are also undertaking initiatives to reduce e-scrap, thereby, driving demand for eco-friendly coatings in the conformal coatings market for PCBs.
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Conformal Coatings Market for PCBs Finds Potential Application in Aerospace Industry
PCBs are widely used in the testing and monitoring equipment in the aerospace industry. Owing to the operations carried out in extreme conditions, PCBs used in aerospace industry require great deal of durability and precision. With a significant amount of turbulence, normal PCBs often get damaged during such conditions, thereby, resulting in the failure and high cost of maintenance. In order to avoid such conditions, the demand for conformal coatings for PCBs in the aerospace industry is growing.
With the significant growth in the automotive industry and increasing use of PCBs in control system, video, audio, navigation system in a vehicle, is also driving the growth in the conformal coatings market for PCBs. Meanwhile, with increasing use of PCBs in various industries, the conformal coatings market for PCBs is finding wide application in marine, defense, medical, and industrial machinery and equipment industries.
Cracking and Delamination in Conformal Coatings to Hamper the Growth of Conformal Coatings Market for PCBs
Cracking and delamination are the two major restraints observed in the conformal coatings market for PCBs. Delamination in conformal coatings usually occur due to the poor adhesion of coatings, it involves the removal of conformal coatings from PCBs leaving the area exposed, thereby, resulting in the damage. Meanwhile, extreme environments and high curing coatings resulting in the cracking is another major challenge facing the conformal coatings market for PCBs.
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Table of Contents Covered in the report are:
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Assumptions and Acronyms Used
2.2. Research Methodology
3. Executive Summary
3.1. Market Snapshot, Global Conformal Coatings Market for PCBs
3.2. Market Trends
4. Market Overview
4.1. Product Overview
4.2. Conformal Coatings –Comparison Matrix
4.3. Key Industry Developments
4.4. Global Conformal Coatings Market for PCBs Analysis and Forecast
4.5. Market Indicators
4.6. Drivers and Restraints Snapshot Analysis
4.6.3. Opportunity Analysis
4.7. Porter’s Analysis
4.7.1. Threat of Substitutes
4.7.2. Bargaining Power of Buyers
4.7.3. Bargaining Power of Suppliers
4.7.4. Threat of New Entrants
4.7.5. Degree of Competition
4.8. Regulatory Landscape
4.9. Market Outlook for Printed Circuit Boards
4.10. Value Chain Analysis
4.11. Customer Analysis, Customer Insights, and Marketing Strategy & Product Placement
4.12. Selection Criteria & Decision Making
4.13. List of Conformal Coating System/Equipment Providers
4.14. Conformal Coatings for Printed Circuit Market: SWOT Analysis
5. Conformal Coatings Market for PCBs, Price Trend Analysis
5.1. By Region
5.2. By Product
5.3. By Technology
5.4. By Key Players