Conformal Coatings Market to Reach USD8.5 Bn in 2012, Predicts Companies & Markets
- Jul 19, 2012
The conformal coatings market for materials, equipment, and spares is expected to grow from $7.9 billion in 2011 to $8.5 billion in 2012, and $9 billion in 2017, at a compound annual growth rate (CAGR) of 1% through to 2017.
The market for just conformal coating equipment and spares should grow from nearly $6.3 billion in 2011 to $6.7 billion in 2012. This market is expected to decrease back down to $6.4 billion by 2017, at a CAGR of 1.2% between 2012 and 2017.
The conformal coating market for materials was worth nearly $1.7 billion in 2011. This figure should grow to $1.8 billion in 2012 and $2.6 billion in 2017, at a CAGR of 7.8% over the next five years.
Key segments in the conformal coatings market include semiconductor/electronics, medical devices, aerospace and automotive.
Growth within the conformal coatings market is being driven by the increased demand from customers for conformal coatings and relevant coating equipment, with huge expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality, and environmental properties.
This report studies and highlights the role of conformal coatings in providing protection to electronic products, and explains the technology, development, production, and methods of application of these coatings, covers the equipment involved, and gives a market overview, analyzing major market trends both in terms of region and the application sector. In addition, the report studies in detail new developments taking place in the conformal coatings industry with respect to continuous improvements in environmental performance.
Both the market for conformal coating products and the market for the technologies involved are analyzed, including various emerging technologies and new products produced using these technologies. The various applications of conformal coatings and their markets are also analyzed, 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, and these developments are examined in this report as are the new applications emerging from these new emerging technologies.
Customers are driving the increased demand for conformal coatings and relevant coating equipment, with huge expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality, and environmental properties. All of the above expectations require special attention from manufacturers in order to ensure that their products meet expected standards and the market remains buoyant. This report pinpoints the need for the industry's commitment to continuous improvement in environmental performance and glimpses a future in which the functionality of conformal coatings will be enhanced and transformed from the conventional areas of protection and aesthetics to meet additional and more specific demands.
Innovation is critical for revenue growth in the conformal coatings industry. The markets with the highest margins and fastest growth for coatings are new applications, where coatings offer a new advantage, and areas where the coating designer and processor may have an advantage.
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Source: Comanies and Markets
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