PUNE, INDIA – The electronics conformal coating market is estimated to reach $2.4 billion by 2020, a CAGR of 6% between 2015 and 2020, says MarketsandMarkets.

The increasing use of electronic components, especially in automotive and consumer electronics, and growing demand for reliable electronic devices are the major drivers for the conformal coating market.

Acrylic conformal coating is expected to lead the global market during the forecast period because, among all the materials, it is the easiest to rework on acrylic material, says the firm.

The automotive electronics application segment is expected to hold the largest share in the global conformal coating material market during the forecast period.  

The APAC region held the largest share of the conformal coating material market in 2014, and it is expected to grow at the highest growth rate during the forecast period. The rapid growth of the automotive industry in this region, in addition to the growth of consumer electronics and aerospace and defense, has contributed to the growth of the conformal coating material in the APAC region.

Major players in this market include Chase, MG Chemicals, Dow Corning, Chemtronics, Dymax, Electrolube, Nordson, Precision Valve & Automation, Shin-Etsu Chemical Co., Henkel AG, and Peters Group.

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