Automotive Conformal Coatings Market Share, Size, Analysis, Growth Statistics and Forecast 2030

The global automotive conformal coatings market size was valued at US$ 2.2 billion in 2021, and anticipated to grow at a CAGR of 9.2% over the forecast period. To protect circuitry from fuel vapour, salt spray, and brake fluid, the automotive industry specifies conformal coatings. As the number of electronic systems in automobiles increases rapidly, conformal coatings are becoming essential to guarantee long-term durability. Applications for conformal coatings include both in passenger compartments (e.g. onboard computers) and under the hood (e.g. engine management systems).

A protective coating known as conformal coating is one that matches the surface of assembled printed circuit boards and electrical components. The service life of the assembly is increased, and the coating can protect the user from moisture, dust, and corrosion that might be brought on by harsh weather conditions. The resulting coating, which forms a polymer film with a thickness of 25-100 m, can be manually or automatically applied to the surface of the assembled circuit board.

People's lifestyles have changed as a result of increased disposable income, and customer expectations for vehicle safety, comfort, luxury, convenience, and entertainment have also changed. Because of this, automakers are continuously improving their vehicle models and increasing the amount of electronic gadgets built into each vehicle in response to shifting consumer expectations. Thus, the global market for automotive conformal coatings is being driven by a rise in electronic component production to meet increasing consumer demand.
However, High precautions must be taken while choosing vehicle conformal coatings since it shouldn't react with the component. Some automotive conformal coatings need complex application techniques and are expensive to repair, which may impede the market growth.
Lack of raw materials and components has been caused by the disruption of the COVID-19 epidemic in the automotive supply chain. Additionally, there was a significant shortage of electronic chips due to the adverse consequences that the industry's chip makers faced. This in turn affected the global automotive conformal coatings industry and resulted in a decrease in vehicle production across the industry.

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Material Insights
By material, the global automotive conformal coatings market is classified into acrylic, silicone, paralyene, epoxy, and polyurethane. The acrylic segment accounted for the largest share in 2021 and will further expand at a steady CAGR during the projected period. Because of their ease in application, removal, and forgiving nature, acrylic conformal coatings are probably the most popular of all conformal coating materials. Acrylics have a long pot life, are fungus-resistant, and dry quickly, reaching their ideal physical qualities in a short period of time.

Additionally, during cure, acrylics emit very little to no heat, preventing potential damage to heat-sensitive components. They offer low glass transition temperatures, good humidity resistance, and do not shrink while curing. The material's continuous operating temperature range is -65°C to +125°C.

Vehicle Type Insights
In terms of vehicle type, the global automotive conformal coatings market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment held largest market share in 2021. The demand and production of passenger vehicles, along with recent regulations requiring the installation of airbags and strict pollution standards in nations like China and India, are anticipated to fuel market expansion.

Moreover, Airbags and reverse parking assist are standard technologies that are anticipated to increase the amount of PCBs, ECUs, and sensors installed in passenger cars. Additionally, growing LED installation rate in small SUVs is anticipated to fuel market expansion. Thus, it is anticipated that the market for passenger car conformal coatings will be driven by the growth of electronic components.

Component Insights
In terms of component, the market is segmented into ECU, PCB, sensors, battery casing, and others. Sensor segment is anticipated to grow at higher CAGR during the forecast period. Global sensor installation is expected to rise as a result of the government's emphasis on car safety requirements. Additionally, it is anticipated that the installation of sensors in vehicles would rise as the focus shifts to emission and fuel efficiency. Over the course of the anticipated period, it is anticipated that advances in vehicle technology and growing need for safety features would raise demand for sensor conformal coatings.

Regional Insights
In terms of region, Asia Pacific region dominated major market share in 2021 and is projected to continue to lead the global market over the course of projected period. The need for automotive parts and electronic components is fuelled by the presence of top automakers in major Asia Pacific nations including China, Japan, South Korea, and India. To meet the growing demand from automakers, major producers of electronic chips have built operations in nations in Asia like Taiwan and Japan. These factors fuel the Asia Pacific market for automotive conformal coatings.

Key Companies Insights
Some of the major companies studied under the market scope are as follows: Altana, Chase Corp, CHT Group, Comelec SA, Conins Pune, CSL Silicones Inc, Dawn Tech, Dow, Dymax, Electrolube, H.B. Fuller Company, Henkel, HZO, Para Tech Coating, Paratronix, Peters Group, Shin-Etsu Chemical, Vertical Solutions, Inc and Others. Players operating in the automotive conformal market experiences strong competition owing to the presence of large number of players on global and regional scale. Further, the various strategies are adopted by these players such as new product launch, geographic expansion, merger and acquisition, research & development for expanding their product portfolio, and others.

In 2020, At the IPC APEX EXPO, Electrolube introduced new UV space coatings, resins, and fillers for the American market. There are now two new Electrolube encapsulating resins available. The sealing system is made to safeguard electrical components and is perfect for use in a variety of settings, including marine and automotive sectors.

In 2020, DOWSIL CC820 UV and Moisture Dual-Core Conformal Coatings were launched by Dow. It is the first dual-core silicone protective coating without solvents with excellent performance.

Segments
By Material
• Acrylic
• Silicone
• Paralyene
• Epoxy
• Polyurethane

By Component
• ECU
• PCB
• Sensors
• Battery Casing
• Others

By Coating Method
• Brush Coating
• Dipping
• Spray Coating
• Selective Coating
• Others

By Vehicle Type
• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

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