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Automotive Conformal Coating Market : Size, Share & Forecast by Material, Component, Vehicle Type, and Application (2023-2032)
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COVID-19 Impact Analysis:
Due COVID-19 pandemic automobile market witnessed a downfall due to stringent lockdown imposed by the government of major countries. The automobile manufacturing was stopped due to lockdown and government restrictions. Thus, it directly affected the demand of automotive conformal coating used in the vehicle.
Moreover, the production of electronic component was affected since, demand had fallen which directly affected automotive conformal coating market.
Furthermore, there was unavailability of raw material required for production of automotive conformal coating which further delayed the process. COVID-19 had a positive impact on the electric vehicles market as sales of electric vehicles has increased which is expected to drive growth of the market. In addition, automobile is an evolving sector which was affected by the pandemic, but it is expected that post the pandemic the rise in demand for electric vehicles will drive growth of automotive conformal coating market.
Top Impacting Factors
Rise in use of electronics in modern vehicles, rise in electrification in vehicles, and rise in vehicle production is expected to drive growth of the market.
However, reduction in size of electronic components and high cost of conformal coatings can hamper growth of the market.
Moreover, rise in demand for electrical vehicles, technological advancement in conformal coating, and advancement in autonomous & connected mobility can act as an opportunity for growth of the market.
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Market Trends
Technological advancement in conformal coating
Rise in harsh vehicle operating conditions have increased the demand better surface insulation resistance of PCB. Thus, to withstand extreme operating conditions, new types of protective coatings resistant to moisture & chemicals, highly flexible to survive thermal shock excursions, and temperature resistance has been developed. For instance, in 2020 automotive and transportation solution company Dow Inc. introduced DOWSIL CC-820 UV and moisture dual-core conformal coating which is the first solventless silicone conformal coating that has a moisture dual-core system for high throughputs. In 2020, automotive solution company Electrolube launched new UV conformal coatings which can handle harsh environment and is highly resistant to cracking during thermal shock cycling. Therefore, rise in technological advancement in conformal coating act as an opportunity for growth of automotive conformal coating market.
Key Benefits of the Report:
This study presents the analytical depiction of the automotive conformal coating market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive conformal coating market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the automotive conformal coating market growth scenario.
The report provides detailed automotive conformal coating market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the automotive conformal coating market research report:
Which are the leading market players active in the automotive conformal coating market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the automotive conformal coating market?
What are the projections for the future that would help in taking further strategic steps?
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