Automotive Electronics Conformal Coatings Market
Automotive Electronics Conformal Coatings Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031
Key Questions Answered in Report
How will the automotive electronics conformal coatings market expand until 2031?
As per Fact.MR’s estimates, demand for automotive electronics conformal coatings is poised to surpass US$ 1 billion by 2031, expanding at a positive CAGR of around 5% across the forecast period.
Which is likely to be the most promising region for enhanced automotive electronics conformal coating sales?
Demand for automotive electronics conformal coatings is expected to remain especially strong across China, attributed to a swelling electric vehicles (EV) market. A CAGR exceeding 7% has been projected for the Chinese market through 2031.
Which is likely to be the most widely used material for manufacturing automotive electronics conformal coatings?
By material, demand for acrylic automotive electronics conformal coatings is anticipated to incline sharply, reaching nearly US$ 500 million by the end of the 2021-2031 forecast period.
Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Automotive Electronics Conformal Coatings and How to Navigate
- Recommendation on Key Winning Strategies
Automotive Electronics Conformal Coating Demand from 2016-2020 Vs Future Growth Projections from 2021-2031
From 2016 to 2020, sales of automotive electronics conformal coatings expanded by around 5% in terms of value CAGR. Increasing vehicle ownership across all geographies has prompted heightened investments in automotive electronics such as sensors and other equipment, thereby accelerating growth.
Allowing for recessionary pressured induced by the COVID-19 pandemic, the global market for automotive electronics conformal coatings was estimated at almost US$ 790 million as of 2020. However, a strong electric vehicle (EV) market shall majorly sustain future growth prospects, with an anticipated share of over US$ 1 billion and expanding at nearly 5% CAGR until 2031.
How are Technological Advancements in Automotive Electronics Conformal Coating Stimulating Demand?
Protecting automotive electronics has become significant over the years. Conformal coating is required to protect vital components against harsh operating conditions and to increase surface insulation resistance due to space reduction between tracks.
With advancements in technology, the coating methodology has undergone various changes. Materials like parylene are now applied via chemical vapor deposition in a slow and controlled process to ensure no loss in material thickness at the edges of the components, which would normally be an issue with wet coatings.
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Will Rising Adoption of Electronic Components Act as a Growth Lever for Automotive Electronics Conformal Coatings?
As ownership of automobiles increases globally, so is investment in adequate electronics and electrical components. Moreover, technological advancements to streamline driving experience is prompting investments in equipping vehicles with advanced systems.
Components such as rain sensors, HVAC control systems, automatic dimming mirrors, airbag actuation systems, automotive electronic control units (ECUs) and printed circuit boards (PCBs) are being equipped across contemporary vehicles, thus inclining demand for solutions ensuring longevity of the same, inclining demand for conformal coatings.
What are the Key Challenges Associated with Applying Automotive Electronics Conformal Coatings?
While acrylic conformal coatings are relatively simple to remove from the surface, the challenge lies with removing polyurethane conformal coatings. Polyurethane conformal coatings are slightly difficult to remove due to their chemical resistance and can be removed through specifically designed stripping solutions.
However, silicone coatings can only be removed through abrasion which has high chances of damaging the electronics equipment as there is every possibility of contamination of the surface. Hence, key players are expected to experience limited sales of these conformal coatings, restraining growth.
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What are the Prospects for the U.S Automotive Electronics Conformal Coatings Landscape?
The market for automotive electronics conformal coatings in the U.S. was valued at over US$ 200 million in 2020, and is likely to account for over 2 out of 5 sales until 2031. Growth is largely underpinned by significant developments across the automotive industry.
According to data published by Select USA, the U.S has one of the largest automotive markets in the world, with light vehicle sales reaching 17.2 million units. As of today, major companies have invested more than US$ 75 million in the economy, prompting an expansion of allied industries such as automotive electronics conformal coatings.
How Lucrative are Growth Prospects for Automotive Electronics Conformal Coatings in China?
Sales of automotive electronics conformal coatings across China are forecast to reach over US$ 220 million, expanding at over 7% CAGR until 2031. A surging EV market is anticipated to pivot most of the demand across the forecast period.
For instance, EV manufacturing giant NIO has registered a whopping 125% sales surge in the Chinese market in April 2021, delivering over 100,000 units. Its ES6 five seater SUV was the top-selling brand, recording 9% y-o-y growth. Such enhanced uptake is prompting manufacturers to invest in new technologies, paving way for enhanced growth.
Which is Anticipated to be the Dominant Automotive Electronics Conformal Coating Material?
Based on material, demand for acrylic automotive electronics conformal coatings is likely to emerge as the dominant segment, forecast to expand at above 5% CAGR until 2031, reaching nearly US$ 500 million.
Acrylic conformal coatings have excellent physical properties, which are attained very quickly because of their rapid drying nature. They are fungus resistant, provide longer than average pot life, and have excellent moisture protection.
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Some notable developments in the global automotive electronics conformal coatings landscape are as follows:
- In March 2021, Electrolube Limited announced that its UV conformal coating is highly effectual in enhancing durability of electric vehicle management systems across India, providing high degree of protection for electronic circuitry at high production throughputs.
- CONINS Pune, a prominent Indian manufacturer, offers a broad range of PCB conformal coatings, including the G1/G2/G3 electronic coating, conformal coatings for LED lights, VOC-free moisture proof PCB conformal coating and PCB assembly conformal coating spray.
- In November 2019, Europlasma N.V launched PlasmaGuard, the first halogen-free PECVD conformal coating for PCBs and wearables.
*This list is indicative- full details about prominent market players is available upon request
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Market Segments Covered
- Acrylic Automotive Electronics Conformal Coatings
- Silicone Automotive Electronics Conformal Coatings
- Urethane Automotive Electronics Conformal Coatings
- Epoxy Automotive Electronics Conformal Coatings
- Paraxylene Automotive Electronics Conformal Coatings
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia
- Rest of South Asia
- Rest of Oceania
- Middle East & Africa
- South Africa
- Rest of MEA
- North America
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