The global conformal coatings market size was valued at USD 899.1 million in 2021. The market is projected to grow from USD 940.8 million in 2022 to USD 1,392.8 million by 2029, exhibiting a CAGR of 5.8% during the forecast period.

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth.

Information source: https://www.fortunebusinessinsights.com/conformal-coatings-market-102867

REGIONAL INSIGHTS

Asia-Pacific to Remain at the Forefront; Growing Automotive Sector to Spur Demand

Among all the regions, North America is expected to hold the highest position in the global conformal coatings market during the forecast period. This is attributable to the growing automotive sector that drives demand for conformal coatings to ensure the safety and efficiency of electrical components within the automobile in countries such as India and China.

The market in North America is expected to showcase a substantial growth backed by the increasing adoption of electronic devices and the rising aerospace and electronic industries in countries such as the U.S. between 2019 and 2026.