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Automotive Conformal Coatings Market Analysis by Type (Acrylics, Urethanes, Silicones, Epoxy, Paralyene), by Component (ECU, PCB, Sensor, Battery Casing, LED, Infotainment System), by Vehicle Type (Two-wheeler, Passenger Vehicle, Light Duty Vehicles), by Application (C In-cabin Electronics, Under the hood Electronics, Exterior electronics) and by Region: Global Forecast, 2024 - 2033

  • PUBLISHED ON
  • 2024-01-25
  • NO OF PAGES
  • 256
  • CATEGORY
  • Automotive & Transportation

Market Overview

The Automotive Conformal Coatings market is predicted to develop at a compound annual growth rate (CAGR) of 8.22% from 2024 to 2033, when it is projected to reach USD 5.2 billion, based on an average growth pattern. The market is estimated to reach a value of USD 1.9 billion in 2024.

                                       

                                 

SOURCE: We Market Research

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Market Scope

Report Attributes

Description

Market Size in 2024

USD 1.9 Billion

Market Forecast in 2033

USD 5.2 Billion

CAGR % 2024-2033

8.22%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

by Type, by Component, by Vehicle Type, by Application and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

 

Automotive Conformal Coatings Industry: Dynamics & Restrains

Market Drivers

Increasing Electronic Content in Vehicles - The surge in electronic content within vehicles, driven by the integration of advanced technologies like sensors, infotainment systems, and advanced driver-assistance systems (ADAS), propels the demand for automotive conformal coatings. These coatings act as a protective barrier, safeguarding electronic components from environmental stressors like moisture, chemicals, and dust. With the automotive industry's increasing reliance on sophisticated electronics for enhanced safety and connectivity, conformal coatings become indispensable. Manufacturers seek to ensure the reliability and longevity of electronic systems in vehicles, fostering the automotive conformal coatings market's growth as a critical solution for safeguarding the expanding electronic landscape in modern automobiles.

Increasing Complexity of Automotive Electronics - The rising complexity of automotive electronics, attributed to the integration of advanced features such as advanced driver-assistance systems (ADAS) and infotainment, is a key driver for the automotive conformal coatings market. As vehicles become more technologically sophisticated, the vulnerability of electronic components to environmental factors like moisture, chemicals, and temperature fluctuations increases. Conformal coatings play a pivotal role by providing a protective layer, ensuring the reliability and longevity of these intricate electronic systems. This growing complexity in automotive electronics underscores the critical need for conformal coatings, driving their demand and market growth in the automotive sector.

Market restrains

Environmental Regulations and Sustainability - Environmental regulations and sustainability concerns pose challenges to the automotive conformal coatings market. Stringent regulations on the use of certain materials in coatings, driven by environmental considerations, may limit the options available for manufacturers. Compliance with eco-friendly standards becomes a priority, requiring the development of environmentally sustainable conformal coatings without compromising performance. The industry faces the dual challenge of ensuring protective capabilities for electronic components while adhering to increasingly strict environmental guidelines. This constraint necessitates investment in research and development to formulate coatings that meet both performance requirements and the evolving demands for environmental responsibility, impacting the growth of the automotive conformal coatings market.

We Market Research: Automotive Conformal Coatings Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.

                             


Automotive Conformal Coatings Segmentation

Market- By Type Analysis

By Type, the Automotive Conformal Coatings Market is Categories into Acrylics, Urethanes, Silicones, Epoxy, Paralyene. The Urethanes segment accounts for the largest share of around 39% in 2022.

                                        

Urethane segment of the automotive conformal coatings market is propelled by the remarkable flexibility, resilience, and chemical and abrasion resistance of urethanes. Urethane coatings are the recommended option for conformal coating solutions because they provide the best protection for electronic components and guarantee their dependability and endurance in automotive applications.

The following segments are part of an in-depth analysis of the global Automotive Conformal Coatings market:

Market Segments

 

By   Component

·         ECU

·         PCB

·         Sensor

·         Battery Casing

·         LED

·         Infotainment System

By   Vehicle Type

·         Two-wheeler

·         Passenger Vehicle

·         Light Duty Vehicles

By   Application

·         In-cabin Electronics

·         Under the hood Electronics

·         Exterior electronics

 

Automotive Conformal Coatings Industry: Regional Analysis

Asia Pacific Market Forecast

Asia Pacific dominate the Automotive Conformal Coatings Market with the highest revenue generating market with share of more than 47%. Important factors propelling the market for automotive conformal coatings are Demand is driven by the expanding automotive industry, especially in China and India. In order to protect electronic components and promote innovation and compliance with international regulatory requirements, conformal coatings are increasingly necessary in light of rapid economic expansion, urbanization, and the rise in electric vehicles.

                                         


North America Market Statistics

North America is the second-largest market for Automotive Conformal Coatings. Automotive Conformal coating demand is driven in North American markets by the integration of sophisticated electronics and stringent adherence to environmental standards. Coatings are adopted in part because of the emphasis on sustainability and compliance, which guarantees the longevity and protection of electronic components in automobiles.

Europe Market Forecasts

Europe is expected to be the fastest-growing market for Automotive Conformal Coatings during the forecast period. The automotive industry in Europe, known for its advanced electronics, requires stringent safety measures. To comply with rigorous environmental and safety regulations, conformal coatings are employed, incorporating intricate elements. The market for conformal coatings is expanding in Europe, driven by the region's commitment to environmentally friendly and sustainable technology.


 

Key Market Players

The Automotive Conformal Coatings Market is dominated by a few large companies, such as

·         Henkel

·         Chase Corporation

·         Dow

·         H.B. Fuller

·         Electrolube

·         Shin-Etsu Chemical Co. Ltd.

·         Illinois Tool Works

·         MG Chemicals

·         BASF

·         Specialty Coating Systems

·         Dymax Corporation

·         Momentive

·         Panacol-Elosol GmbH

·         Aalpha Conformal Coatings

·         ACC Silicones Ltd.

·         Others

Recent Developments:

·         January 2023, Specialty Coating Systems, a leader in conformal coating technologies and services, and Europlasma teamed to expand the coating portfolio with the addition of PlasmaGuardTM coating services. Thanks to this collaboration with Europlasma, the ground-breaking halogen-free PlasmaGuard conformal coatings for electronics are now even more accessible.

August 2022, Dymax, a reputable supplier of quick-curing equipment and materials, has partnered with Electronic Coating Technologies to provide its defense, automotive, and aerospace customers a single Parylene conformal coating solution.

1.      Global Automotive Conformal Coatings Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Automotive Conformal Coatings Market Scope and Market Estimation

1.2.1. Global Automotive Conformal Coatings Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2. Global Automotive Conformal Coatings Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1. Component of Global Automotive Conformal Coatings Market

1.3.2. Technology of Global Automotive Conformal Coatings Market

1.3.3. Vehicle Type of Global Automotive Conformal Coatings Market

1.3.4. Region of Global Automotive Conformal Coatings Market

2.      Executive Summary

2.1.    Global Automotive Conformal Coatings Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Automotive Conformal Coatings Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Automotive Conformal Coatings Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Automotive Conformal Coatings Market Estimates & Forecast Trend Analysis, by TYPE

4.1.    Global Automotive Conformal Coatings Market Revenue (US$ Mn) Estimates and Forecasts, by TYPE, 2019 to 2033

4.1.1. Acrylics

4.1.2. Urethanes

4.1.3. Silicones

4.1.4. Epoxy

4.1.5. Paralyene

5.      Global Automotive Conformal Coatings Market Estimates & Forecast Trend Analysis, by Component

5.1.    Global Automotive Conformal Coatings Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2033

5.1.1. ECU

5.1.2. PCB

5.1.3. Sensor

5.1.4. Battery Casing

5.1.5. LED

5.1.6. Infotainment System

6.      Global Automotive Conformal Coatings Market Estimates & Forecast Trend Analysis, by Vehicle Type

6.1.    Global Automotive Conformal Coatings Market Revenue (US$ Mn) Estimates and Forecasts, by Vehicle Type, 2019 to 2033

6.1.1. Two-wheeler

6.1.2. Passenger Vehicle

6.1.3. Light Duty Vehicles

7.      Global Automotive Conformal Coatings Market Estimates & Forecast Trend Analysis, by APPLICATION

7.1.    Global Automotive Conformal Coatings Market Revenue (US$ Mn) Estimates and Forecasts, by Vehicle Type, 2019 to 2033

7.1.1. In-cabin Electronics

7.1.2. Under the hood Electronics

7.1.3. Exterior electronics

8.      Global Automotive Conformal Coatings Market Estimates & Forecast Trend Analysis, by Region

8.1.    Global Automotive Conformal Coatings Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033

8.1.1. North America

8.1.2. Europe

8.1.3. Asia Pacific

8.1.4. Middle East & Africa

8.1.5. South America

9.      North America Automotive Conformal Coatings Market: Estimates & Forecast Trend Analysis

9.1.    North America Automotive Conformal Coatings Market Assessments & Key Findings

9.1.1. North America Automotive Conformal Coatings Market Introduction

9.1.2. North America Automotive Conformal Coatings Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

9.1.2.1.   By TYPE

9.1.2.2.   By Component

9.1.2.3.   By Vehicle Type

9.1.2.4.   By APPLICATION

9.1.2.5.   By Country

9.1.2.5.1.     The U.S.

9.1.2.5.2.     Canada

9.1.2.5.3.     Mexico

10.  Europe Automotive Conformal Coatings Market: Estimates & Forecast Trend Analysis

10.1.  Europe Automotive Conformal Coatings Market Assessments & Key Findings

10.1.1.   Europe Automotive Conformal Coatings Market Introduction

10.1.2.   Europe Automotive Conformal Coatings Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

10.1.2.1.    By TYPE

10.1.2.2.    By Component

10.1.2.3.    By Vehicle Type

10.1.2.4.    By APPLICATION

10.1.2.5.    By Country

10.1.2.5.1. Germany

10.1.2.5.2. U.K.

10.1.2.5.3. France

10.1.2.5.4. Italy

10.1.2.5.5. Spain

10.1.2.5.6. Russia

10.1.2.5.7. Rest of Europe

11.  Asia Pacific Automotive Conformal Coatings Market: Estimates & Forecast Trend Analysis

11.1.  Asia Pacific Market Assessments & Key Findings

11.1.1.   Asia Pacific Automotive Conformal Coatings Market Introduction

11.1.2.   Asia Pacific Automotive Conformal Coatings Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

11.1.2.1.    By TYPE

11.1.2.2.    By Component

11.1.2.3.    By Vehicle Type

11.1.2.4.    By APPLICATION

11.1.2.5.    By Country

11.1.2.5.1. China

11.1.2.5.2. Japan

11.1.2.5.3. India

11.1.2.5.4. Australia

11.1.2.5.5. South Korea

11.1.2.5.6. ASEAN

11.1.2.5.7. Rest of Asia Pacific

12.  Middle East & Africa Automotive Conformal Coatings Market: Estimates & Forecast Trend Analysis

12.1.  Middle East & Africa Market Assessments & Key Findings

12.1.1.   Middle East & Africa Automotive Conformal Coatings Market Introduction

12.1.2.   Middle East & Africa Automotive Conformal Coatings Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

12.1.2.1.    By TYPE

12.1.2.2.    By Component

12.1.2.3.    By Vehicle Type

12.1.2.4.    By APPLICATION

12.1.2.5.    By Country

12.1.2.5.1. U.A.E.

12.1.2.5.2. Saudi Arabia

12.1.2.5.3. Egypt

12.1.2.5.4. South Africa

12.1.2.5.5. Rest of Middle East & Africa

13.  South America Automotive Conformal Coatings Market: Estimates & Forecast Trend Analysis

13.1.  South America Market Assessments & Key Findings

13.1.1.   South America Automotive Conformal Coatings Market Introduction

13.1.2.   South America Automotive Conformal Coatings Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

13.1.2.1.    By TYPE

13.1.2.2.    By Component

13.1.2.3.    By Vehicle Type

13.1.2.4.    By APPLICATION

13.1.2.5.    By Country

13.1.2.5.1. Brazil

13.1.2.5.2. Argentina

13.1.2.5.3. Colombia

13.1.2.5.4. Rest of South America

14.  Competition Landscape

14.1.  Global Automotive Conformal Coatings Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

14.2.  Global Automotive Conformal Coatings Market Competition White Space Analysis, By Vehicle Type

14.3.  Global Automotive Conformal Coatings Market Competition Heat Map Analysis, By Vehicle Type

14.4.  Global Automotive Conformal Coatings Market Concentration & Company Market Shares (%) Analysis, 2022

15.  Company Profiles

15.1.                     Henkel

15.1.1.   Company Overview & Key Stats

15.1.2.   Financial Performance & KPIs

15.1.3.   Product Portfolio

15.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.      Chase Corporation

15.3.      Dow

15.4.      H.B. Fuller

15.5.      Electrolube

15.6.      Shin-Etsu Chemical Co. Ltd.

15.7.      Illinois Tool Works

15.8.      MG Chemicals

15.9.      BASF

15.10.  Specialty Coating Systems

15.11.  Dymax Corporation

15.12.  Momentive

15.13.  Panacol-Elosol GmbH

15.14.  Aalpha Conformal Coatings

15.15.  ACC Silicones Ltd.

15.16.  Others

16.  Research Methodology

16.1.  External Transportations / Databases

16.2.  Internal Proprietary Database

16.3.  Primary Research

16.4.  Secondary Research

16.5.  Assumptions

16.6.  Limitations

16.7.  Report FAQs

17.  Research Findings & Conclusion

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
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  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
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  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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Frequently Asked Questions

What is the market size of Automotive Conformal Coatings Market in 2024?

Automotive Conformal Coatings Market was valued at USD 1.9 Billion in 2024.

What is the growth rate for the Automotive Conformal Coatings Market?

Automotive Conformal Coatings Market size will increase at approximate CAGR of 8.22% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the Automotive Conformal Coatings Market are Henkel, Chase Corporation, Dow, H.B. Fuller, Electrolube, Shin-Etsu Chemical Co. Ltd., Illinois Tool Works, MG Chemicals, BASF, Specialty Coating Systems, Dymax Corporation, Momentive, Panacol-Elosol GmbH, Aalpha Conformal Coatings, ACC Silicones Ltd. and Other.

Which region dominates the Automotive Conformal Coatings Market?

Asia Pacific dominates the market with an active share of 47%.

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