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The global market for conformal coating materials, equipment and spares will grow from $10.2 billion in 2016 to nearly $14.2 billion by 2021, with a compound annual growth rate (CAGR) of 6.8% for the period of 2016-2021, according to a new report by BCC Research. The conformal coating equipment and spares market will grow from $7.9 billion in 2016 to nearly $11.1 billion by 2021, with a CAGR of 6.9%, while the conformal coating materials market is expected to increase from nearly $2.3 billion in 2016 to $3.1 billion by 2021, with a CAGR of 6.2%.
This report is an update of an earlier BCC Research report published in 2014. The report studies and highlights the role of conformal coatings in providing protection to electronic products; explains the technology, development, production and methods of application of these coatings; discusses the equipment involved in the coating process; and provides a market overview that analyzes major market trends both by region and application sector. In addition, the report studies in detail new developments in the conformal coatings industry regarding continuous improvements in environmental performance. The report analyzes both the market for conformal coating products and the market for the technologies involved, including various emerging technologies and new products produced using these technologies. It also analyzes the various applications of conformal coatings and their markets, with a special emphasis on the new products being developed. Along with the development of new products, research and development (R&D) is taking coating technologies to new heights. The report examines these developments as well as the new applications emerging from these new technologies.
Customers are driving increased demand for conformal coatings and relevant coating equipment, and there are huge expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality and environmental properties. The above expectations require special attention from manufacturers to ensure that products meet expected standards and the market remains buoyant. This report pinpoints the need for industry?s commitment to continuous improvement in environmental performance and predicts a future in which the functionality of conformal coatings will be enhanced and transformed from conventional areas of protection and aesthetics to meet additional, more specific demands.
