The North American Conformal Coatings Market has witnessed a staggering growth in the recent past as a result of increased demand for consumer electronics. Shift towards connected devices and telematics as a result of the Internet of Things (IoT) is driving the market growth in the U.S. Usage of conformal coatings in the aerospace is booming due to increase in manufacturing of aircraft and defence equipment. For instance, according to the International Trade Association, the U.S. aerospace industry accounted for exports worth USD 147 billion in 2016. Growing demand for wearable devices, wireless speakers and electric vehicles is propelling the market growth for electronic devices. Additionally, the Canadian government’s connecting programme to provide internet connection to each and every person in Canada is stimulating the product demand.
In the European region, the product demand in electronic devices is increasing at a significant rate due to the strict regulations laid by the European Union (EU) to reduce the carbon emission. Moreover, industries using conformal coatings must comply with the requirements of the REACH system (Registration, Evaluation, and Authorization of Chemicals) due to use of volatile solvents in conformal coatings. Germany is set to witness elevated growth over the forecast period due to expertize in the production of essentials for printed technology such as electronic devices, printing processes and chemicals.
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The Asia Pacific is the fastest growing region due to increasing penetration in consumer electronics coupled with the presence of large consumer base. The product is widely consumed in China due to the presence of major electronics industry players such as Foxconn, Jabil and Flextronics. Additionally, according to the Indian Brand Equity Foundation, total production of Indian electronics hardware goods is expected to rise over USD 100 billion by 2020. Introduction to robotics to manage process and equipment for nuclear power generation is propelling the market growth.
The global Conformal Coatings Market is segmented into type, end-use industry, and region.
Based on of the type, the market is divided into acrylics, epoxy, urethane, silicone, parylene and others.
Based on the end-use industry, the market is segmented into electronics, automobile, aerospace, marine and others.
Geographically, the market is divided into five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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