Global Automotive Conformal Coatings Market Size Was Worth USD 1.8 Billion In 2020 And Is Projected To Grow To USD 2.7 Billion By 2025

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.

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Market Dynamics: Global Automotive Conformal Coatings Market:

Market Drivers:

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.

Market Challenges:

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.

Market Opportunities: 

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:

Acrylic

Silicone

Urethane

Parylene

Epoxy

Polyurethane

Automotive Conformal Coatings Market Segmentation By Component:

ECU

PCB

Sensors

Battery Casing

LED

Infotainment System

Automotive Conformal Coatings Market Segmentation By Vehicle Type:

Passenger Car

Light Commercial Vehicle

Heavy Commercial Vehicle

Automotive Conformal Coatings Market Segmentation By Application:

Automotive

Aerospace and Defense

Medical

Consumer Electronics

Other End-user Industries

Automotive Conformal Coatings Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

Middle East and Africa

Major Key Players in the Global Automotive Conformal Coatings Market Are:

• Altana Ag
• Chase Corporation
• Conins Pune
• CSL Silicones Inc
• Dymax
• CHT Group
• Dawn Tech
• Dow
• Comelec SA
• Electrolube      

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.

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