for Electronics will be
Worth $9.1 Billion in 2013
According to a new technical market research report—Conformal Coatings in the Global Electronics Industry—from BCC Research, the global market for conformal coating technology in electronics is expected to be worth $6.6 billion in 2008. This will increase to more than $9.1 billion in 2013, a compound annual growth rate (CAGR) of 6.8%.
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%.
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% to reach $2.3 billion in 2013.
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.