Electronic Protection Device (EPD) Coatings Market To Register 5% CAGR By 2025
Selbyville, Delaware, United States, October 13 2020 (Wiredrelease) Global Market Insights, Inc –:A study conducted at Global Market Insights, Inc. suggests that the global electronic protection device coating market is anticipated to surpass USD 20 billion by 2025.
In today’s interconnected and digital world where electronic gadgets have efficiently permeated everyday lives, the electronic protection device coating market has recorded significant revenue growth subject to a burgeoning demand for state-of-the-art component protection.
In recent years, the electronics device segment has undergone a major revolution in terms of performance, size, and portability. From consumer devices like mobile phones, warbles to specialized industrial technology like automation controls, electronic devices have has created a profound place in everyday lives. However, without proper protection, components inside these are prone to damage due to harsh environmental factors like moisture, liquid, debris, and dust.
This has prompted electronics manufacturers to invest in coating technology to increase the durability of their gadgets. For instance, last year, Apple patented new protective coating technology which is being added to all Apple electronics devices to prevent it from various types of damages. Such a streamlined approach towards increasing the durability of electronics devices through the coating method is expected fuel electronic protection device coating market growth over the forecast period.
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A gist of drivers fueling electronic protection device coating sector
Expanding automotive sector
The EPD coatings market is expected to record significant revenue proceeds from the automotive sector. As per estimates, the automotive segment held a considerable market share in the global protection device coating industry in 2017. The segment has been majorly driven by increase in demand for luxury cars that particularly require advanced electronic parts. In fact, automotive sales in Europe for France, Italy, Germany, Spain, Russia, and the UK exceed 14 million units in 2017.
Automakers have been equipping these vehicles with cutting-edge automotive features like infotainment & driver assistance systems, automated parking display, and rear-facing cameras that require protection against several factors including liquid damage, major electric and fuel hazardous, etc. Tough environment conditions have further prompted automakers to safeguard their electronics systems in vehicles, which in turn will drive electronic protection device coatings market growth over the forecast period.
Burgeoning demand for Acrylic-based coating
Acrylic is the most commonly used coating material on account of its various features like lower prices and the unique protection properties. These coatings dry rapidly and offer a long pot life. Moreover, acrylic materials produce no or little heat during the curing process, reducing potential damage to heat-sensitive electronics components. Moreover, these coatings possess low shrinkage properties, offer optimal humidity resistance, and exhibit lower glass transition temperatures.
In addition, the Acrylic-based coating can adhere to wide-ranging array of substrates like LED boards, cellphones, relays, and electrical generators, which makes it a preferred choice for industry participants. Driven by high demand for computers, laptops, household electronics, and smartphones, studies suggest that the acrylic coatings market is likely to exceed USD 520 million by 2025.
The rise of portable electronics devices
In today’s digital world, electronics portable devices are gaining significant popularity across the globe due to their convenience, creating significant scope for electronic protection device coating market growth. Companies worldwide are rolling out innovative products in a bid to support the digital economy. Citing an instance to highlight the same, Indian payment giant Paytm recently launched a portable Android POS device to reduce contact while making payments and orders. The device looks like a smartphone and can be used to accept payment and orders.
Moreover, these devices are also gaining prominence in automobile vehicles. The proliferation of trends like all-electric cars, in-car infotainment, etc., has been creating significant demand for portable electronics devices, which in turn will drive the requirement for electronic protection device coatings over the forecast period.
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Burgeoning demand from major end-users across APAC
Asia Pacific EPD coatings market is poised for the robust growth on the back of expanding smart electronics and automobile industries. Regional consumer electronics companies like Xiaomi, BYD Electronic, Changhong, Gionee,etc. have been rolling out innovative products to tap major market share. For instance, Xiaomi Corporation recently launched Redmi Note 9 Pro which has received tremendous response from Indian consumers.
Besides, the Asia Pacific automobile sector has had the biggest share in global automobile sales with India, Australia, China, Japan, Indonesia South Korea, and Malaysia accounting for more than 43 million units in 2017. Such trends show strong scope for the consumer electronics and automobile industry in the Asia Pacific, which is expected lucrative growth opportunities for the regional EPD coatings market players by 2025.
Complex process to retrain market electronic protection device coating market growth
The increasing consequences of induced stress from coating could lead to coating cracks, delamination, or even to whole damage of electronic components. However, companies such as Henkel, Chase Electronics Coatings HB Fuller, 3M, MG Chemicals, Dymax, Electrolube, Elantas, etc. have been investing in skilled manpower to deliver top-notch results.
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