Sep 03, 2020 (PRNews Times via COMTEX) -- The novel coronavirus (COVID-19) pandemic is predicted to have a negative impact on the electronic protection device coating market but recover by Q2/Q3 2023. The major reason behind this decline in growth is the slow production of electronic devices owing to unavailability of workforce and logistics all across the globe. Due to the COVID-19 outbreak, the governments of various countries have not permitted the e-commerce companies to deliver non-essential products that majorly include electronic items. For instance, as China is the largest manufacturer and exporter of electronic components, which supplies the main inputs that are used to produce finished electronic goods. However, due to the unprecedented COVID-19 situation, the current production is at halt in China. This is ultimately affecting other electronic producers based in Europe, the U.S., and other countries, which in turn is creating a gap between demand and supply of electronic products. During this pandemic, we at Research Dive are helping our clients in understanding the impact of COVID-19 on the global electronic protection device coating Market. Our report includes:
Investment Opportunity Analysis
Pre- & Post-COVID Market Scenario
Supply Side & Demand Side Impact
The global electronic protection device (EPD) coating market is expected to generate a revenue of $19,254.2 million by 2026 at a CAGR of 4.3% increasing from $13,600.0 million in 2018 during the forecast period (2019-2026), according to a report published by Research Dive.
The wide-ranging study offers a brief viewpoint on the current landscape of the market including other facets such as market dynamics, growth factors, manacles, challenges, and umpteen numbers of opportunities during the forecast period. The report also features all the market statistics making it easier and helpful for the new entrants to understand the market.
Check out How COVID-19 impact on the Electronic Protection Device Coating Market. Click here to Connect with Analyst @ https://www.researchdive.com/covid-19-insights/205/electronic-protection-device-coating-market #myQueryForm
The report analyses the market based on material, application, end-user, and regional outlook. Based on the material, the market is divided into acrylic, polyurethane, silicone, epoxy, and others. Based on the application, the market is bifurcated into brushing, dipping, manual spray, and automatic spray. Based on end-user, the market is categorized into aerospace & defense, automotive, appliance control, consumer goods, industrial controls, and others.
Dynamic Market Boosters
There has been an increasing use of electronic components in consumer electronics such as mobile phones, laptops cameras, and other appliances. The electronic protection device coatings are being used in these appliances to a huge extent due to its great sustainability.
Moreover, the rising use of electrical component in the automotive industry in various applications for protecting PCBs, brake fluids, and various dashboard appliances is also boosting the market growth.
Check out How Consumer goods held the market share of $7,072.7 million in 2018 and is predicted to grow with a CAGR of 4.0% during the forecast period @ https://www.researchdive.com/covid-19-insights/205/electronic-protection-device-coating-market
Restraints of the Market Growth
Volatile organic compounds are often used for producing electronic protection coatings in a huge amount to handle their engineering and production requirements. The volatile organic compounds protect the devices form the moist environment it might be instability of weather, fresh or salt water exposure or any atmospheric condition. Discarding of these components or disposing it in an open area can cause severe harm to the environment as well as the people who come in direct contact to the volatile organic compounds. This is predicted to hinder the market growth in the forecast period.