Electronics Applications Expected to Continue to Dominate Global Market for Conformal Coatings
The value of the worldwide market for conformal coating materials, equipment and spares is expected to reach $12.2 billion in 2019, with a compound annual growth rate (CAGR) of 6.3% between 2014 and 2019, according to “Global Markets for Conformal Coatings in Electronics,” a recent report from BCC Research. The consumption of conformal coating materials in electronics is anticipated to exceed $1 billion by 2019.
The application of conformal coatings in electronics applications has historically dominated the marketplace and is expected to continue to do so through 2019. The growth of the electronics market will be driven by increased conformal coating use in integrated circuit and device fabrication; replacement of housing and other hermetic packaging systems; and use in new device packaging systems, and high frequency, wireless, and portable consumer electronic products.
Asia-Pacific holds the largest market in conformal coating equipment and spares; it accounts for about 32% of global sales between 2013 and 2019. The Asia-Pacific equipment and spares market is followed in order of importance by North America (26% of global sales in 2013, declining slightly to 24% in 2019) and Europe (22% across the entire period covered by this report).
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