Global Market for Conformal Coatings in Electronics Worth $9.1 Billion in 2013
10 December 2008
According to a new market research report available at Electronics.ca Publications, Conformal Coatings in the Global Electronics Industry, the global market for conformal coating technology in electronics is expected to be worth $6.6 billion in 2008. This will increase to over $9.1 billion in 2013, a compound annual growth rate (CAGR) of 6.8 percent.
The market is broken down into conformal coating materials and conformal coating equipment/spares. Of these, the conformal coating equipment/spares segment has the largest share of the market, worth an estimated $5.1 billion in 2008. This should increase to $6.9 billion in 2013, for a CAGR of 6.2 percent.
Conformal coating materials represent the second largest segment, worth an estimated $1.5 billion in 2008. This segment is expected to grow at a CAGR of 8.9 percent to reach $2.3 billion in 2013.
Many chemicals found in the oil, gas and petrochemical industries can consign electronic components to a short life, creating high failure rates and low reliability. Corrosive agents such as hydrogen sulfide gas, hydrocarbons, chloro-benzene and chemical by-products enervate components that control and manage processes, or transport vital data between control centers and remote sites. A protective coating that can isolate the components from the harsh reality of industrial settings is needed for such components, and conformal coatings fulfill this requirement.
Conformal coatings are important for electronic applications in consumer electronics, the automotive segment, aerospace and medical devices. Applications for consumer electronics currently dominate the market and will continue to do so through 2013. Growth in the automotive segment will be driven by accelerated use of electronic monitoring, sensing and controlling devices, and computer systems in cars. Conformal coating application in aerospace is the most highly developed segment of the industry, while medical and biomedical device applications of conformal coatings will experience the highest growth of the market segments studied.
