Pune, India, September 12, 2022 (GLOBE NEWSWIRE) – According to global Fortune Business Insights Matching Coatings Market The market size was $899.1 Million in 2021. The market is expected to grow from $940.8 Million in 2022 to $1,392.8 Million by 2029, representing a CAGR of 5.8% during the forecast period. Increasing miniaturization trends and strong demand from the electric vehicle segment are expected to drive the market progress. Fortune Business Insights™ This information is presented in its report entitledMatching Coatings Market, 2022-2029.“
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List of key players included in the report
- Chemtronics (South Korea)
- Henkel AG & Company (Germany)
- Shin-Etsu Chemical Co., Ltd (Japan)
- Dow (US)
- Chase Corporation (USA)
- Dymax Corporation (USA)
- Specialized Coating Systems (US)
- Electrolube (UK)
- HB Fuller (US)
- MG Chemicals (Canada)
Report scope and segmentation:
|CAGR FOR prediction||5.8%|
|2029 Value Drop||1,392.8 million USD|
|Matching Coatings Market Size in 2021||899.1 million USD|
|number of pages||195|
|covered slices||By end use, by product and region|
|Matching Coatings Market Growth Factors||Strong demand from the consumer electronics industry to promote market growth|
|Top players announce new products to raise their brand image|
The impact of COVID-19:
Supply chain disruptions hampered industry growth
This market has been adversely affected during the COVID-19 pandemic due to supply chain disruptions. Furthermore, the sudden rise in COVID-19 infections has resulted in supply chain constraints. The lack of transportation and travel has resulted in a shortage of raw materials for the production of matching coatings. However, the adoption of lower capacities, industrial automation and part-time shifts allowed manufacturers to recover their costs and strengthen their position in the market. This factor boosted the industry’s growth.
Acrylic sector dominates due to strong demand from electronic manufacturing sector
By analyzing the product
Acrylic sector is expected to dominate due to strong demand from electronic manufacturing sector.
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Leading the consumer electronics sector due to the strong adoption of microelectronic applications
According to the end-use industry, the market is categorized into automotive, medical, aerospace, defense, consumer electronics, and others. The consumer electronics sector is expected to dominate due to the increasing adoption of microelectronic applications.
Regionally, the market is spread across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The report provides a detailed analysis of the most important sectors and the latest trends in the market. It comprehensively discusses the driving factors, limiting factors and the impact of COVID-19 on the market. In addition, it studies regional developments and the strategies pursued by the major players in the market.
Drivers and restrictions
Strong demand from the consumer electronics industry to promote market growth
Matching coatings are polymer-based materials that are applied to PCBs. It is a thin layer that provides excellent protection for the product at hand. The higher demand from the consumer electronics industry is expected to boost the demand for the product. Moreover, widespread adoption of coatings from consumer electronics, automobiles, and other industries is likely to boost product adoption. Also, the increasing implementation of new technologies such as machine learning and artificial intelligence is expected to drive the growth of the matching coating market.
However, strict environmental regulations are likely to hamper the growth of the industry.
Strong demand from the electronics manufacturing sector to boost market growth in the Asia-Pacific region
The matching coating market share is expected to be dominated by the Asia Pacific region due to the strong demand from the electronics manufacturing sector. The market size in the Asia Pacific region is expected to reach US$ 767.3 million in 2021 and is expected to gain a significant portion of the global market share in the coming years.
In North America, strong demand for electric vehicles is expected to drive demand for the product. Moreover, the increasing adoption of electronics in electric and hybrid vehicles is expected to fuel the growth of the industry in the coming years.
In Europe, increased product adoption from the automotive industry is expected to boost industry growth.
Top players announce new products to raise their brand image
Prominent companies operating in the market announce new products to enhance their brand image. For example, Electrolube announced its new version of UV Cure Coating Xtra (UVCLX) in October 2021. The product is made using organic content obtained from renewable means. This strategy may allow the company to enhance its brand image globally. Moreover, major players innovate research and development, expansions, mergers, acquisitions, and expansions to raise their market position.
Browse the detailed summary of the research report using the table of contents:
Detailed table of content:
- an introduction
- Search scope
- Market segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- market dynamics
- Market Drivers
- market restrictions
- Market Opportunities
- the main ideas
- Main directions
- Key developments
- Insights into the organizational scenario
- The latest technological advances
- Porter’s Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on the Global Conformance Coatings Market
- Supply Chain Challenges
- Steps taken by the government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Matching Coatings Market Analysis, Insights And Forecast, 2018-2029
- Main results / summary
- Market size estimates and forecasts
- by product (value)
- By industry end use (value)
- the cars
- space and defense
- electronics consumers
- By region (value)
- North Amarica
- Asia Pacific
- Latin america
- Middle East and Africa
- by product (value)
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Major industry development
- March 2022: HumiSeal has announced its UV500-2 conformal coating with PCB protection. It has been developed to provide additional performance in the light of mechanical and thermal cycling testing for the white goods and automotive sectors.
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