The global Conformal Coating Stripper Market is estimated to be valued at US$9.84 billion in 2022 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Conformal Coating Stripper Market is experiencing significant growth due to the increasing demand for electrical and electronic devices. With advancements in technology and the rising adoption of smart devices and IoT, the production and consumption of electronic devices have surged. Conformal coating is applied to protect electronic components from moisture, dust, chemicals, and other environmental factors. However, during the repair or rework process, the coating needs to be stripped off, which has led to the demand for conformal coating strippers.
Despite the market’s growth potential, there are certain obstacles that may hinder its progress. The stringent regulatory standards governing the use of chemicals in conformal coating strippers may pose challenges for manufacturers. Additionally, volatile raw material prices and the increasing shift towards environmentally friendly alternatives could also impact market growth.
Market Key Trends:
One key trend driving the Conformal Coating Stripper market is the increasing demand for eco-friendly strippers. As environmental concerns become more prominent, manufacturers are focusing on developing strippers that are free from harmful chemicals and have minimal impact on the environment. For instance, some strippers are now water-based or use biodegradable solvents.
This shift towards eco-friendly solutions is driven by government regulations encouraging sustainable practices and consumer preferences for environmentally responsible products. For example, the EU RoHS Directive restricts the use of certain hazardous substances, which has prompted manufacturers to develop conformal coating strippers without harmful chemicals.
The Conformal Coating Stripper market is segmented based on the type of stripping method. The dominant segment in this market is the chemical stripping segment. Chemical stripping involves the use of solvents or chemicals to remove the conformal coating. This method is preferred due to its efficiency and effectiveness in removing various types of coatings, including acrylics, urethanes, and silicones.
Chemical stripping is widely used in industries such as electronics, automotive, aerospace, and telecommunications. The dominance of this segment can be attributed to the ease of application and the ability to remove coatings quickly without damaging the underlying substrate.
Market Size: The global Conformal Coating Stripper Market is expected to witness high growth, exhibiting a CAGR of 3.4% over the forecast period. This growth can be attributed to increasing demand for electrical and electronic devices, which require conformal coating for protection.
Regional Analysis: North America is the fastest-growing region in the Conformal Coating Stripper market, driven by the presence of major electronics manufacturers and the increasing demand for consumer electronics in the region. Europe is also a significant market due to stringent environmental regulations.
Key Players: Key players operating in the global Conformal Coating Stripper market include Henkel AG & Co. KGaA, Chemtronics, Electrolube, Dow Corning Corporation, 3M Company, Dymax Corporation, KYZEN Corporation, Master Bond Inc., Techspray, Chase Corporation, ACC Silicones Ltd., LORD Corporation, Shin-Etsu Chemical Co., Ltd., Avery Dennison Corporation, and MG Chemicals.
In conclusion, the Conformal Coating Stripper market is driven by the increasing demand for electrical and electronic devices and the need to remove conformal coatings during repairs or rework. The market is witnessing trends towards eco-friendly solutions, with chemical stripping being the dominant method. North America and Europe are the key regions driving market growth. Key players in the market are focused on innovation and sustainable practices to meet customer demands and comply with regulatory requirements.