COVID-19 Impact: The Unconventional Guide to Electronic Protection Device Coating Market
Pune, New York, USA, November 18 2020 (Wiredrelease) Research Dive –:The world is facing an unexpected change and many of the industries are experiencing thought provoking situation due to the COVID-19 pandemic. Previous to the COVID-19 pandemic, there was high growth rate in electronics protection coating device market. But, since the occurrence of COVID- 19 outbreak, it has been witnessed that electronic industry has faced negative impact. The reason behind this impact is the slow production of electronic devices because manufacturers of electronic industry are not able to produce electronic parts due to unavailability of workforce and logistics across the globe. On the other side, e-commerce companies have completely stopped the delivery of non-essential products which majorly include electronics items. All these factors are adversely impacting the electronic industry. For example, China is the largest manufacturer and exporter of electronic components, which supplies the main inputs that are used to produce finished electronic goods. Due to the ongoing crisis of COVID -19, the current production is at a halt in china which affects other electronic producers based in the US and Europe and among other countries, that in turn brings the gap between demand and supply of electronic products.
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Our report includes:
Technological Impact Social Impact Investment Opportunity Analysis Pre- & Post-COVID Market Scenario Infrastructure Analysis Supply Side & Demand Side Impact
According to a new report published by Research Dive, the global electronic protection coating device market is anticipated to generate a revenue of $13,600. 0 million by 2026, at a CAGR of 4.3% in the forecast time from 2019 to 2026.
The global market segmentation has been done on the basis of material, application, end user and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.
Factors Affecting the Market Growth
As per our analysts, increasing awareness on usage of electronic protection devices among consumers and government regulation towards enhanced safety are significantly driving the growth of the market. However, huge installation and maintenance cost are expected to hinder the electronic protection coating devices market growth.
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Silicone Segment has Dominant Market Share
Based on material, the overall market is segmented into acrylic, polyurethane, silicone, epoxy, and others. Among these, silicone material segment dominated the market in the year 2018 and is expected to register for $4,120.4 million in 2026. Silicone material is a key component in the electronic protection device coating. In addition, many researchers are emphasizing on the use of this material because it is easily available and consists special properties of a semiconductor, which means that they can conduct electricity under some conditions and act as an insulator under others. These factors will accelerate the growth of the market in the projected time.
Manual Spray Application Will Grow at a Significant Rate throughout the Forecast Years
On the basis of application, the electronic protection coating device market is classified into brushing, dipping, manual spray, and automatic spray. The market for manual spray will witness to rise at a faster rate of 5.3% CAGR and is predicted to register for $6,225.1 million till the end of 2026. Manual spray application is gaining popularity due to various features such as having low investment, being easy to use, and providing protection to complicated designs of electronics. This aspect will fuel the market size in the forecast time.
Automotive end user is expected to witness significant growth during forecast period
Based on end users, the electronic protection coating device market is classified into aerospace & defense, automotive, appliance control, consumer goods, industrial controls, and others. The market for automotive sector will witness to rise at a faster rate of 5.4% CAGR and is predicted to register for $1,048.0 million till the end of 2026. Rapidly increasing demand for highly secured, reliable, and advanced electronics in cars owing to rise in disposable income is generating huge demand in automotive from urban population, which is expected to drive the need of electronic protection devices; this factor will fuel the market size in the forecast time.
Regional Outlook and Major Market Players
Europe market has dominated the global market share, which was approximately 10.3% in previous years and is estimated to reach up to $1,985.9million till 2026. This dominance is attributed to the fast adoption of technological advancements in Europe. Asia-Pacific electronic protection device coating market will experience a noteworthy growth and projected to generate a revenue of $10,782.3 million by the end of 2026, at a CAGR of 4.5%. This expected rise in the Asia-Pacific market is majorly due to growing demand for smart electronic appliances and high growth in industrial sector across Asia-Pacific, and this aspect is predicted to boost the market growth in the projected time.
Top Companies Leading the Market
The most prominent players in the global electronic protection device coating market include Henkel AG, Electrolube, Chase Corporation, HB Fuller, MG Chemicals, ABB, Ltd., Siemens AG, Schneider Electric SE, Emerson Electric Company, and Eaton Corporation, Plc.
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