Increasing Usage of Electronic Components All Across the Globe to Propel the Growth of Electronic Protection Device Coating Market during COVID-19 PandemicDownload Sample Reports Overview
The novel coronavirus (COVID-19) pandemic is predicted to have a negative impact on the electronic protection device coating market but recover by Q2/Q3 2023. The major reason behind this decline in growth is the slow production of electronic devices owing to unavailability of workforce and logistics all across the globe. Due to the COVID-19 outbreak, the governments of various countries have not permitted the e-commerce companies to deliver non-essential products that majorly include electronic items. For instance, as China is the largest manufacturer and exporter of electronic components, which supplies the main inputs that are used to produce finished electronic goods. However, due to the unprecedented COVID-19 situation, the current production is at halt in China. This is ultimately affecting other electronic producers based in Europe, the U.S., and other countries, which in turn is creating a gap between demand and supply of electronic products. During this pandemic, we at Research Dive are helping our clients in understanding the impact of COVID-19 on the global electronic protection device coating Market. Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
The global electronic protection device (EPD) coating market is expected to generate a revenue of $19,254.2 million by 2026 at a CAGR of 4.3% increasing from $13,600.0 million in 2018 during the forecast period (2019–2026), according to a report published by Research Dive. The wide-ranging study offers a brief viewpoint on the current landscape of the market including other facets such as market dynamics, growth factors, manacles, challenges, and umpteen numbers of opportunities during the forecast period. The report also features all the market statistics making it easier and helpful for the new entrants to understand the market.
The report analyses the market based on material, application, end-user, and regional outlook. Based on the material, the market is divided into acrylic, polyurethane, silicone, epoxy, and others. Based on the application, the market is bifurcated into brushing, dipping, manual spray, and automatic spray. Based on end-user, the market is categorized into aerospace & defense, automotive, appliance control, consumer goods, industrial controls, and others.
Dynamic Market Boosters
There has been an increasing use of electronic components in consumer electronics such as mobile phones, laptops cameras, and other appliances. The electronic protection device coatings are being used in these appliances to a huge extent due to its great sustainability.
Moreover, the rising use of electrical component in the automotive industry in various applications for protecting PCBs, brake fluids, and various dashboard appliances is also boosting the market growth.
Restraints of the Market Growth
Volatile organic compounds are often used for producing electronic protection coatings in a huge amount to handle their engineering and production requirements. The volatile organic compounds protect the devices form the moist environment it might be instability of weather, fresh or salt water exposure or any atmospheric condition. Discarding of these components or disposing it in an open area can cause severe harm to the environment as well as the people who come in direct contact to the volatile organic compounds. This is predicted to hinder the market growth in the forecast period.
Acrylic Segment to Remain Most Profitable
Acrylic segment held the largest market share in the global market by generating a revenue of $5,440.0 million in 2018 and is predicted to grow with a CAGR of 3.8% during the period of forecast. Acrylic coating dries in the coated surface quickly, emits very less heat while polymerization and are fungus resistance due to which the acrylic segment is predicted to boost the overall market in the forecast period.
Brushing Segment to Flourish During the Forecast Period
Brushing application held the market share of 40% in 2018 by generating a revenue of $5,440.0 million and is predicted to grow with a CAGR of 4.2% during the forecast period. Brushing segment is predicted to grow as it is the most used application as compared to other. On the other hand, the manual spray application is gaining popularity owing to its numerous features such as low investment, easy-to-use, and providing protection to complicated designs will help this segment to reach $3,465.7 million by 2026.
Consumer Good Segment to be Most Lucrative
Consumer goods held the market share of $7,072.7 million in 2018 and is predicted to grow with a CAGR of 4.0% during the forecast period. With the increasing use of consumer good by the consumer at a large extent is predicted to rise the consumer goods segment in the forecast period. Along with consumer goods, the automotive sector end-user segment is anticipated to grow at a fastest pace of 5.4% CAGR and is expected to surpass $1,048.0 million by the end of 2026. This is mainly due to rapidly increasing demand for highly secured, reliable and advanced electronics in cars coupled with an increase in disposable income.
Asia-Pacific Market is to hold the Largest Market Share
Asia-Pacific market accounted for $7.480.0 million in 2018 and is predicted to grow with a CAGR of 4.5% in the estimated period. This growth is attributed to the increasing population, increase in the use of consumer goods, and low manufacturing cost across the region.
Leading Market Players
The report also offers a list of the leading companies of the global market. They include Kisco, Dow Corning, Dymax Corporation, Electrolube, MG Chemicals, HB Fuller, Chase Corporation, Henkel AG, and many more.