As per the report published by Fior Markets, The global electronic protection devices coating market is expected to grow from USD 14.76 Billion in 2017 to USD 21.89 Billion by 2025 at a CAGR of 5.13% during the forecast period from 2018-2025. Asia Pacific region led the demand for electronic protection devices coatings market with 68.24% of total revenue in 2017 followed by North America region.
“Global Electronic Protection Devices Coatings Market by Material (Acrylic, Polyurethane, Silicone, Epoxy, Others), Mode of Application, End User Industry, Region,” and Global Forecast 2018-2025.
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Key competitors in the field are Henkel AG, Electrolube, Chase Corporation, HB Fuller. MG Chemicals, 3M, Elantas, Dymax, Kisco, Dow Chemical Company, HumiSeal, HZO Inc., Semblant, Saint Clair Systems, Endura Coatings among others. To grow foothold in market and better cater to the rising demand companies are taking merger and acquisition route. For instance HZO Inc., the world leader in advanced and scalable electronics waterproofing and protection solutions, announced in 2018 that it has acquired Semblant Ltd., a U.K.-based leader in protective nano coatings and waterproof technology. The acquisition enables HZO to more quickly introduce additional protection solutions to current and future customers of both companies. The company’s new Spectrum of Protection™ portfolio of solutions will enable greater flexibility to manufacturers looking to protect electronic components using a more diverse range of protective coating materials, equipment and processes.
The material segment is divided into acrylic, polyurethane, silicone, epoxy and others. Acrylics based EPD coatings segment dominated the market in 2017 with 41.92% of total market revenue owing to its wide ranging utilization in consumer goods and cellphone manufacturing industries. Silicone based EPD coatings are projected to grow with CAGR of 6.58% due its superior properties of moisture resistance and adherence to variety of materials. Mode of application is segmented into brushing, dipping, manual spray, automatic spray. Manual spray is expected to grow at robust speed of 6.15% CAGR over forecast period due to its ability to coat complicated PCB devices in cost effective manner. End user industry segment is subdivided into consumer electronics, aerospace and defence, automotive, industrial electronics and others. Consumer electronics segment led the market of EPD coatings with USD 7.62 billion revenues in 2017. Huge demand for consumer electronic goods from the developing economies is fueling the demand. Aerospace segment also generated robust demand for EPC coatings on account of increase in number of satellite launches and rise in expenditure for space exploration projects.
Advent of electric cars and rising per capita disposable income in Asia Pacific region is expected to propel the market in higher trajectory whereas threat of cheaper substitutes and volatility in raw material prices are proving to be the dampener for the growth of global electronic protection devices coatings market.
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