Enter your contact details & our Business Development
expert will circle back to address your request!
Automotive Conformal Coatings: Introduction
The conformal coating can be described as a coating designed to safeguard electronic circuits from extreme humidity, fluctuating temperatures as well as a harsh environment that could contain airborne contaminants. This coating is made of polymer and has a 25-75 micron meter. Conformal coatings are crucial in the automotive industry and provide the needed combination of performance and dependability. There are a variety of coatings available, including epoxy resin, silicon resin, acrylic resin, urethane resin, and parylene.
The Global Automotive Conformal Coatings Market Forecast:
The global automotive conformal coatings market size stood at USD 1.8 billion in 2020 and is projected to reach USD 2.7 billion by the end of 2025, exhibiting a CAGR of 8.7% during the forecast year 2021 to 2025.
The Global Automotive Conformal Coatings Market Overview:
The COVID-19 virus impacted the market in 2020 because of disruptions to the supply chain and the closing of factories. In the aerospace sector, production was affected in the short run because of the COVID-19 virus, as air travel was restricted all over the world. Every airline was shut down a large portion of their aircraft and was delaying orders for new aircraft in addition. Manufacturing of aircraft was also stopped due to lockdowns that were complete across the continents that are located in North America and Europe, which are the major hubs for the production of aircraft.
The electronics sector also suffered an economic setback due to the pandemic. China is the top PCB manufacturer worldwide. However, the company Semiconductor Manufacturing International Corporation (SMIC), which is the leading producer of semiconductors and chips devices in China, could only make 14-nanometer chips and was lagging in the production of 5-nanometer chips that had a global demand.
In the short term, one of the main drivers for the market is the rising demand from high-end applications that require conformal coating.
The growing demand for medical devices across Asia-Pacific will serve as an opportunity for the market.
Asia-Pacific has dominated the market around the globe, with the highest consumption in a country such as India and China, etc.
Get Insights of Automotive Conformal Coatings Research Report @ https://www.crediblemarkets.com/sample-request/automotive-conformal-coating-market-883721
Market Dynamics: Global Automotive Conformal Coatings Market:
Growth in GDP per capita, as well as the disposable earnings of the global population, has resulted in an increase in the number and types of vehicles that are in use. International Organization of Motor Vehicle Manufacturers (IOCA) declared as of 2015 that the number of vehicles in use was 471 for every 1000 people.
The rise in disposable income has resulted in a change in the lifestyle of the people, and as a result changing expectations of the customer in regards to car safety as well as comfort, entertainment, luxury, and convenience. Thus, the changing expectations of customers are causing automakers to continually improve their models of vehicles and, consequently, increasing the number of electronic components included in each vehicle. This is why an increase in the number of electronic components that can meet the ever-changing demands of customers is driving the automobile conformal coatings market around the world.
The industry of automotive electronics has grown rapidly over the past decade. The mid-range car of today is packed with modern technology that includes safety features, like lane sensors, adaptive cruise controls, in-car entertainment as well as navigation. The integration of a variety of electronic gadgets aids automakers in their efforts to meet the various regulations regarding safety and emissions.
Many restrictions have been set regarding the use of certain chemical substances in vehicles. The list of banned substances that are used in automotive uses is increasing, which creates a dilemma for manufacturers of conformal coatings to create and implement eco-friendly solvents.
Smart and electric vehicles are quickly arising in the marketplace. These vehicles have greater numbers of electronic devices that monitor, communicate and control the most important aspects of driving a vehicle. The emergence of new-generation vehicles is expected to provide an enormous opportunity to the market for conformal coatings during the forecast timeframe.
The Key Market Segmentation of the Global Automotive Conformal Coatings Market:
This Research Report Categorized The Global Automotive Conformal Coatings Market Based on Product, Component, Vehicle Type, Application, and Geographical Landscape.
Automotive Conformal Coatings Market Segmentation By Material:
Automotive Conformal Coatings Market Segmentation By Component:
Automotive Conformal Coatings Market Segmentation By Vehicle Type:
Light Commercial Vehicle
Heavy Commercial Vehicle
Automotive Conformal Coatings Market Segmentation By Application:
Aerospace and Defense
Other End-user Industries
Automotive Conformal Coatings Market Segmentation By Geographical Landscape:
Middle East and Africa
Major Key Players in the Global Automotive Conformal Coatings Market Are:
The Covid-19 Impact Analysis:
The epidemic of COVID-19 has affected the supply chain for the entire automotive industry, leading to a stoppage in manufacturing facilities around the world. This could impact the market for automotive conformal coatings since the expansion in the industry is linked to the production of automobiles. The decrease in the production of vehicles is likely to negatively impact the market for automotive conformal coatings.
Credible Markets has emerged as a dependable source for the market research needs of businesses within a quick time span. We have collaborated with leading publishers of market intelligence and the coverage of our reports reserve spans all the key industry verticals and thousands of micro markets. The massive repository allows our clients to pick from recently published reports from a range of publishers that also provide extensive regional and country-wise analysis. Moreover, pre-booked research reports are among our top offerings.
The collection of market intelligence reports is regularly updated to offer visitors ready access to the most recent market insights. We provide round-the-clock support to help you repurpose search parameters and thereby avail a complete range of reserved reports. After all, it is all about helping you reach an informed strategic decision about purchasing the right report that caters to all your market research demands.
Reports in the repository of Credible Markets leverage predictive analytical models to study the performance of critical market segments. We believe in the fact that demands of businesses depend on an array of parameters and thus adhere to delivering industry-specific research solutions. Our client base traversing from thriving start-ups to some of the Fortune 500 companies speaks for our expertise in providing deep-dive insights on any desired industry sectors.
99 Wall Street #2124 New York, NY 10005
Please fill form below:
99 WALL STREET #2124 NEW YORK, NY 10005