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
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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
Automotive Electronics Conformal Coatings Market - Scope of Report
A recent study by Fact.MR on the automotive electronics conformal coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering automotive electronics conformal coatings.
The study also provides the dynamics responsible for influencing the future status of the automotive electronics conformal coatings market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing automotive electronics conformal coatings, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of automotive electronics conformal coatings across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of automotive electronics conformal coatings during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for automotive electronics conformal coatings?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the automotive electronics conformal coatings industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for automotive electronics conformal coatings are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global automotive electronics conformal coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the automotive electronics conformal coatings market during the forecast period.
Country-specific valuation on demand for automotive electronics conformal coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of automotive electronics conformal coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering automotive electronics conformal coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the automotive electronics conformal coatings market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report on the radiation proctitis treatment industry has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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