The global conformal coatings industry was valued at USD 899.1 million in 2021 and touched USD 940.8 million in 2022. . Fortune Business Insights™ presents this information in its report titled “Conformal Coatings Market, 2022-2029.”
COVID-19 Impact:
Supply Chain Disruptions Hampered the Market’s Progress
The industry was negatively affected during the COVID-19 pandemic due to supply chain disruptions. Moreover, the increasing spike in COVID-19 infections led to supply chain restrictions. The halt of transport and travel led to the lack of raw materials for the coatings’ production. However, the adoption of industrial automation reduced capacities, and part-time shifts empowered companies to recover costs and boost their market position. This factor favored industry growth.
Key Industry Development
- March 2022: HumiSeal announced UV500-2 conformal coating with PCB protection developed to offer additional performance under mechanical and thermal cycling testing for white goods and automotive sectors.
List of Key Players Profiled in the Report
- Chemtronics (South Korea)
- Henkel AG & Company (Germany)
- Shin-Etsu Chemical Co., Ltd (Japan)
- Dow (U.S.)
- Chase Corporation (U.S.)
- Dymax Corporation (S.)
- Specialty Coating Systems (U.S.)
- Electrolube (K.)
- B. Fuller (U.S.)
- G. Chemicals (Canada)
Information source
https://www.fortunebusinessinsights.com/conformal-coatings-market-102867
