The Asia-Pacific Conformal Coating Market size is projected to grow at a CAGR of around 6.25% during the forecast period, 2022-27. According to MarkNtel Advisors Study.
Asia-Pacific Conformal Coating Market Driver:
Burgeoning Government & Private Initiatives for Manufacturing of Consumer Electronics: The rising initiatives taken up by the government of countries, such as India, southeast countries, such as Indonesia, Vietnam, etc., to attract foreign investments for promulgating the domestic manufacturing of consumer electronics in the country has stimulated the demand for conformal coatings during 2017-21. The Asia Pacific has been a hub for producing and exporting consumer electronics to the world. While China has been at the core of the manufacturing ecosystem, the players in this space are rapidly shifting their production bases from China to other nations, such as India, etc., in the region, which has expanded the usage of conformal coatings used during the electronic manufacturing. For instance:
In 2021, the government of India announced a USD10 billion incentive plan to lure foreign semiconductor players to manufacture semiconductors in the country. As a result of this announcement, Tower Semiconductor, Foxconn, a consortium of Diversified natural resource groups, and Vedanta Limited are planning to set up manufacturing operations in India.
Therefore, this has positively impacted the demand for conformal coatings in the region & is expected to present diverse opportunities in the upcoming years as well.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Asia-Pacific Conformal Coating Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2021
-Historical Period: 2017 to 2020
-Forecast Period: 2022 to 2027
- By Material
- Acrylic
- Silicone
- Epoxy
- Urethane
- Paralyene
- Others (Nanocoatings, Styrenated block-copolymer, UV Cure, etc.)
- By Applying Format
- Liquid
- Aerosol
- By End-User
- Automotive
- Consumer Electronics
- Medical
- Telecommunications
- Aerospace & Defense
- Others (Industrial, Power, Energy, etc.)
- By Country
- China
- India
- Japan
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Shin-Etsu Chemical Co., Ltd., Chase Corporation, M.G. Chemicals, The Dow Chemical Company (Dow Corning Ltd.), Illinois Tool Works Inc., Henkel AG & Company are looking forward to strengthening their market positions.
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