According to the recent research report titled ‘Conformal Coatings Market Share, Size, Trends, Industry Analysis Report, By Material Type; By End-use, By Regions, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global conformal coatings market is projected to record a CAGR of 5.8% during the forecast period, reaching a valuation of USD 17.3 billion by the year 2026.
 

Emergence of driverless cars, robust developments in medical equipment, and high demand for consumer electronics, and are the key factors driving the growth of global conformal coatings market. In addition, the increasing disposable income and high reliance on electronic devices such as laptops, mobile phones, and other gadgets have propelled the production of specialized items that are predominately used in electronic components, thereby augmenting the industry remuneration.
 

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For those uninitiated, conformal coatings are a protective cover that may be a rubber or a chemical film that is applied to electronic circuits in order to shield from moisture and chemical contamination for a long period of time. It maintains insulation cover, ensures the continuity of the components of the circuit board and supervises the circuit board's functional integrity.
 

Technological advancements has uninterruptedly empowered the growth as well as the popularity of electric cars as an energy-efficient alternatives. Such vehicles offer improved comfort, maximum fuel efficiency and utilize relatively high number of electronic gadgets, resulting in complex electric vehicles and impelling the product demand, which in turn is stimulating global conformal coatings market outlook.
 

Conformal coatings were initially the cornerstones of medical and military products, although they were available at hefty costs. Technological advancements and the growth of material science in the recent past have decreased the cost per product dramatically, and hence is complementing global conforming coatings market dynamics.
 

These robust technological advancements have also allowed for development of solvent-free and low viscosity conformal coatings, which are widely adopted to protect sensitive information on PCBs. Introduction of strict environmental regulations have compelled computer, PCBs and relative component manufacturers to adopt conformal coatings owing to their eco-friendly nature, and hence is adding traction to the overall market size.
 

As per material type, the report states that although acrylic segment accounts for a significant share in global conformal coatings market, parylene, epoxy and polyurethane segments are predicted to witness considerable expansion in the forthcoming years.
 

Leading organizations influencing global conformal coatings market trends are Jotun Group, The Valspar Corporation, Kansai Paint Company Ltd., Henkel AG & KGaA, Sherwin-Williams Company, Dow Corning, H.B. Fuller Company, Kisco Conformal Coatings LLC, and Electrolube Ltd.