February 24, 2024
Conformal Coating Stripper Market

The Global Conformal Coating Stripper Market Driven By Growing Electronics Industry

The conformal coating stripper is a chemical product that is used to remove conformal coatings from printed circuit boards during rework processes or repairs. Conformal coatings are applied to printed circuit boards and other electronics components to protect them from various environmental factors such as moisture, dust, chemicals, and mechanical impacts. Some key advantages of using conformal coating strippers include their ability to quickly and efficiently remove conformal coatings without causing any damage to the underlying surfaces. They also reduce the manual labor involved in stripping conformal coatings.

The global conformal coating stripper market is estimated to be valued at US$ 11.72 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period of 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends: One of the key trends in the conformal coating stripper market is the increasing demand from consumer electronics industry. Consumer electronics such as smartphones, televisions, washing machines etc. extensively use printed circuit boards that require protection from moisture, chemicals and mechanical impacts. This is driving the demand for conformal coatings and their strippers. Additionally, the growing miniaturization of electronic components has increased the complexity of circuit boards, necessitating the need for more effective yet gentle stripping solutions for conformal coatings. Conformal coating stripper manufacturers are hence focusing on developing stripping formulations that can selectively remove coatings without causing damage to finer circuit traces and components.

Porter’s Analysis

Threat of new entrants: Low. Large capital requirements and established reputation of existing players create entry barriers for new players in the market.

Bargaining power of buyers: Moderate. Large buyers have higher bargaining power due to the global presence and ability to negotiate favorable pricing and contract terms.

Bargaining power of suppliers: Moderate. Established suppliers have moderate control over pricing and supply since formulation and testing require specialized skills and equipment.

Threat of new substitutes: Moderate. Emergence of alternative coating stripper products pose a moderate threat based on performance and pricing.

Competitive rivalry: High. Dominated by few global players competing based on pricing, innovation, and quality. Regional differences impact competition levels.

Key Takeaways

The Global Conformal Coating Stripper Market Share is expected to witness high growth over the forecast period from 2024 to 2031. The global conformal coating stripper market is estimated to be valued at US$ 11.72 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period of 2024-2031.

Regional analysis: North America accounts for over 35% of the global market share led by the presence of major PCB fabricators and solution providers such as Seqirus, GlaxoSmithKline plc, and Sanofi. Asia Pacific is expected to grow at the fastest pace with China, Japan, Taiwan emerging as major hubs for electronics manufacturing.

Key players: Key players operating in the Conformal Coating Stripper market are Seqirus, GlaxoSmithKline plc, Sanofi, AstraZeneca, FluGen, Inc., Moderna, Inc., Biocryst Pharmaceuticals, Inc., CPL Biologicals Pvt. Ltd., CureVac AG, OSIVAX, and Solaris Vaccines. Seqirus and GlaxoSmithKline plc dominate the market with wide product portfolios and global sales and distribution networks.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it