April 15, 2024

Conformal Coating Stripper Is Estimated To Witness High Growth Owing To Rising Usage In Electronics Industry

Conformal coating stripper is a solvent-based liquid that is used to remove protective conformal coatings from printed circuit boards and other electronic components. Conformal coatings are applied on electronic circuitry to protect them from environmental factors such as moisture, dust, chemicals and other contaminants. The increasing complexity of electronic circuit designs have enhanced the need for effective protection using conformal coatings. Conformal coating strippers help in efficiently removing old or damaged conformal coatings prior to the application of new protective 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 2024 to 2030.

Key Takeaways
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.
Key opportunities in the market include increasing applications of conformal coatings in automotive electronics, rising demand for miniaturized electronics, and growing demand from the medical devices industry.
Technological advancements such as the development of environment-friendly and zero-residue conformal coating strippers are expected to support the market growth over the forecast period.

Market Drivers
The rising penetration of electronics in automobiles is a key factor driving the growth of the conformal coating stripper market. Conformal coatings are extensively used to protect vehicle control units, engine control modules, sensors, and other electronic components from water, dust, heat, and vibration. Moreover, the growing miniaturization of electronic components has enhanced the need for effective conformal coating and stripping solutions. This is anticipated to boost the demand for conformal coating strippers during the forecast period.

Current challenges in Conformal Coating Stripper Market:
The Conformal Coating Strippers Market Growth faces several challenges due to stringent regulatory norms. Regulatory bodies have set guidelines regarding the use of hazardous chemicals in these products. Manufacturers need to ensure the formulations are as per these regulatory guidelines. This increases R&D costs. Similarly, obtaining certifications for new stripping formulations is a lengthy and costly process.

Another challenge is the availability of alternative green stripping methods. New technologies like plasma treatment are gaining traction as they provide environment-friendly stripping solutions. Adapting to such new methods requires heavy investments and process modifications.

SWOT Analysis
Strength: Strippers containing glycol ethers and other solvents provide quick and effective stripping. They penetrate the coating rapidly.

Weakness: Formulations containing hazardous chemicals are facing restrictions. Many solvents are being classified as carcinogenic.

Opportunity: Growing electronics industry and use of conformal coatings creates robust demand. Innovation in green stripping technologies also provides opportunities.

Threats: Stringent regulations on toxic chemicals and emergence of alternative stripping methods are major threats. Price fluctuations of raw materials also impact the market.

The North America region dominates the conformal coating stripper market in terms of value. This is due to the large electronics industry and widespread industrial applications requiring protective coatings. Asia Pacific is expected to be the fastest growing regional market during the forecast period. expanding electronics sector and industrialization in countries like China and India will drive the demand.

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