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Automotive Conformal Coatings Market

Automotive Conformal Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Automotive Conformal Coatings Market: Introduction

  • Conformal coatings are polymeric coatings applied in thin layers on printed circuit boards to protect and electrically insulate the components from environmental stresses. The coatings can be sprayed, brushed, or flow-coated.

Key Drivers of Automotive Conformal Coatings Market

  • Rise in per capita GDP and disposable income of global population has led to a rise in the number of vehicles in use. International Organization of Motor Vehicle Manufacturers (IOCA) stated that in 2015, the motorization rate was 471 per 1000 inhabitants. Increase in disposable income has also led to a change in lifestyle of people and consequently, transformed customer expectations related to vehicle safety, comfort, luxury, convenience, and entertainment. Consequently, changing customer expectations are prompting automakers to consistently develop their vehicle models and subsequently, boosting the number of electronic devices integrated per vehicle. Thus, an increase in number of electronic components to cater the changing customer demand is driving the automotive conformal coatings market across the globe.
  • The automotive electronics industry has evolved rapidly during the last decade. The average mid-range vehicle is positively brimming with technology; from safety features such as lane sensors and adaptive cruise control, to in car entertainment and navigation. This integration of various electronic devices assist automakers to comply with various regulations related to emission and safety.

Challenges in Automotive Conformal Coatings Market

  • Multiple restrictions have been enacted on the use of specific chemicals in automobiles. The list of prohibited substances for usage in automotive applications is rising, which poses a challenge for conformal coatings manufacturers to develop and utilize environment-friendly solvents.

Impact of COVID-19 pandemic on automotive conformal coatings market

  • The recent pandemic of COVID-19 has disrupted automotive supply chains, thus creating a shortage of raw materials and components. Moreover, electronic chip makers were severely impacted, creating an acute shortage of electronic chips. This, in turn, led to the reduction of vehicle production worldwide and hampered the global automotive conformal coatings market.

Opportunities in Automotive Conformal Coatings Market

  • Smart and electric vehicles are rapidly emerging in the market. These vehicles are equipped with more number of electronic devices that monitor, communicate, and regulate the key aspects of driving a vehicle. This emergence of next-generation vehicles is estimated to offer considerable opportunity for the automotive conformal coatings market during the forecast period.

Asia Pacific to hold significant share of global automotive conformal coatings market

  • The presence of leading automobile manufacturers in major countries across Asia Pacific, such as China, Japan, South Korea, and India, fuel the demand for automotive parts and electronic components. Global electronic chip makers have established their presence in countries in Asia, such as Taiwan and Japan, in order to cater to the rising demand from automakers. These factors propel the automotive conformal coatings market in Asia Pacific.

Key Players Operating in Automotive Conformal Coatings Market

The global automotive conformal coatings market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive conformal coatings market are:

  • AI Technology, Inc.
  • Chase Corp
  • Chemtronics
  • Dow
  • Dymax
  • Electrolube
  • H.B. Fuller
  • Henkel AG & Co. KGaA
  • Master Bond Inc.
  • Momentive

Global Automotive Conformal Coatings Market: Research Scope

Global Automotive Conformal Coatings Market, by Chemistry

  • Acrylics
  • Urethanes
  • Silicones
  • Hybrid Coatings
  • Water-Based Coating
  • Others

Global Automotive Conformal Coatings Market, by Application

  • In-cabin Electronics
  • Under the hood Electronics
  • Exterior electronics

Global Automotive Conformal Coatings Market, by Vehicle Type

  • Two-wheeler
  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicle
  • Light Duty Vehicles
  • Medium & Heavy Trucks
  • Buses & Coaches

Global Automotive Conformal Coatings Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Conformal Coatings Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Automotive Conformal Coatings Market

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