Automotive Conformal Coatings Market Is Expected To Rise At Annual Rate 9.15% In The Forecast Period Of 2021 To 2028

The Global Automotive Conformal Coatings Market is expected to rise at annual rate 9.15% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 5.75 billion due to the rise in the large-scale demand for conformal coating from the automotive industry.

Printed circuit boards and other electronic components that have been built are protected with a coating known as conformal coating. This coating extends the service life of the assembly and can shield the user from moisture, dust, and corrosion that might be brought on by harsh weather conditions. The resulting coating, which creates a polymer film with a thickness of 25-100 m, can be manually or automatically applied to the surface of the constructed circuit board. It offers the highest level of defence against the environment's corrosive elements, including salt, fog, moisture, dust, and chemical contaminants. Electrical separation allows for long-term maintenance and reliability of electronic devices.

The market dynamics, including key drivers, restraints, opportunities, and the present market environment, are thoroughly examined in the worldwide automotive conformal coatings market research. The research on the automotive conformal coatings market also emphasises the subjective side of the sector. The study also incorporates the important conclusions on a market overview and investment prospects. The research also covers the competitive environment, including in-depth profiles of the leading companies in the sector. Based on their level of revenue, product offering, market share, important marketing techniques, and overall impact on market expansion, the top players are taken into account.

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Technology has advanced, and the automotive conformal coating has changed significantly as a result. In order to ensure that there is no loss in material thickness at the borders of the components, special materials like parylene are currently being used by chemical vapour deposition in a gradual and regulated manner. This has the potential to draw in a lot of opportunities, displace all competitors, and significantly boost the market. Changes in economic and societal factors have affected consumer choices all around the world. The market for automotive conformal coatings may be stimulated by the rising demand for safety and comfort features in automobiles in recent years.

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

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.

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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.

Top Impacting Factors :

Changes in economic and societal factors have affected consumer choices all around the world. The market for automotive conformal coatings may be stimulated by the rising demand for safety and comfort features in automobiles in recent years. When choosing vehicle conformal coatings, great care must be given to ensure that they won't react with the component. Some automotive conformal coatings need sophisticated application processes and are expensive to fix, which may put the market at risk. Moulding coating demand is negatively impacted by high price. Conforming coating producers attempt to reduce manufacturing costs by implementing innovative technologies or reducing the cost of raw materials due to the high pricing of these coatings.

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Reasons to Purchase this Report
• Market segmentation based on qualitative and quantitative analysis, taking into account both economic and non-economic aspects.
• Identifies the area and market segment anticipated to experience the quickest growth and hold the majority of the market.
• Analysis by geography showcasing product/service usage in the region and highlighting the market dynamics affecting each region.
• A competitive landscape that takes into account recent service/product launches, collaborations, company expansions, and acquisitions by the companies profiled, as well as the market share of the leading players.
• Comprehensive company profiles for the top players in the industry, including business overviews, corporate insights, product benchmarking, and SWOT analyses
• The industry's future market forecast in light of recent changes, including growth possibilities, drivers of growth, and obstacles present in both developing and emerging economies.
• Comprises a thorough examination of the market from a number of angles using Porter's Five Forces analysis.
• Offers market knowledge across the Value Chain

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