The conformal coatings market for automotive electronics market share is expected to increase by USD 67.99 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.08%.
This conformal coatings market for automotive electronics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the conformal coatings market for automotive electronics market segmentation by product (acrylic, silicone, urethane, epoxy, and others) and geography (APAC, North America, Europe, South America, and MEA). The conformal coatings market for automotive electronics market report also offers information on several market vendors, including ALTANA AG, CHT Group, Dow Inc., Dymax Corp., H.B. Fuller Co., Henkel AG & Co. KGaA, Illinois Tool Works Inc., Master Bond Inc., Shin-Etsu Chemical Co. Ltd., and Von Roll Holding AG among others.
What will the Conformal Coatings Market For Automotive Electronics Market Size be During the Forecast Period?
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Conformal Coatings Market For Automotive Electronics Market: Key Drivers, Trends, and Challenges
The growing demand for fuel-efficient automobiles is notably driving the conformal coatings market for automotive electronics market growth, although factors such as regulations on high emissions of VOC may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the conformal coatings market for the automotive electronics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Conformal Coatings Market For Automotive Electronics Market Driver
Growing demand for fuel-efficient automobiles is one of the key drivers of the automotive electronics market growth. There is an increased demand for lightweight materials by various end-user industries. The use of lightweight material reduces the overall weight of the vehicle, which further reduces carbon dioxide emissions. Governments across the world formulate policies and implement regulations to improve fuel efficiency and reduce carbon emissions. For instance, according to the regulations set by the Corporate Average Fuel Economy (CAFE), automakers must improve fuel economy from the current 38 miles/gallon to 54.52 miles/gallon by 2025. In addition, the EU aims at reducing carbon dioxide emissions to 95 grams/km by 2020. The growing trend of manufacturing lightweight automobiles has increased the use of electronic components in automobiles. Established vendors offer a range of conformal coating products to the automobile industry. These products meet key performance parameters such as unique coating and offer durability, abrasion resistance, superior adhesion, and UV resistance.
Key Conformal Coatings Market For Automotive Electronics Market Trend
Growing emphasis on active safety systems in automobiles is one of the key trends in the automotive electronics??????? market growth. Active safety systems include pre-crash warning, post-crash rescue, and prevention management systems. Though the production of active safety systems is in the nascent stage of development, the segment will exhibit sustainable growth during the forecast period. Safety systems in automobiles will reduce the number of road accidents. The active safety systems comprise various subsystems such as anti-lock braking, tire pressure monitoring system, electronic stability control, and others. In addition, the integration of safety devices with backup sensor systems will improve performance. Policies and regulations (related to the safety of passengers) formulated by the regulatory authorities will drive the demand for active safety systems. Therefore, the growing market will increase the demand for automotive electronics, which will positively impact the global conformal coatings market during the forecast period.
Key Conformal Coatings Market For Automotive Electronics Market Challenge
Regulations on high emissions of VOC are a major hindrance to the automotive electronics??????? market growth. VOCs are found in solvent-based paints, sealants, adhesives, coatings, organic solvents, printing inks, and other petroleum products. The release of VOCs causes air pollution and smog. In January 2021, regulations have been implemented to limit the amount of VOC content released from the above-mentioned products. According to the regulation framed by the EPA, prescribed limits for vapor pressure and carbon atom content were extended in chemical products, such as vehicle refinishing coatings, adhesives, sealants, and paints used in crafts. The Solvent Emission Directive (SED) prescribes thresholds for solvents. In the case of conformal coatings, high solids material with a low concentration of solvent should not exceed the threshold. The threshold for PCB conformal coatings is 5 tons per year. If a factory exceeds this limit, indicating that 8,000 liters of solvent-based conformal coatings have been consumed, it will be fined by the government. Thus, stringent regulations and policies pose challenges to conformal coatings manufacturers and end-users.
This conformal coatings market for automotive electronics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global conformal coatings market for automotive electronics as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the conformal coatings market for the automotive electronics market during the forecast period.
Who are the Major Conformal Coatings Market For Automotive Electronics Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- ALTANA AG
- CHT Group
- Dow Inc.
- Dymax Corp.
- H.B. Fuller Co.
- Henkel AG & Co. KGaA
- Illinois Tool Works Inc.
- Master Bond Inc.
- Shin-Etsu Chemical Co. Ltd.
- Von Roll Holding AG
This statistical study of the conformal coatings market for the automotive electronics market encompasses successful business strategies deployed by the key vendors. The conformal coatings market for the automotive electronics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The conformal coatings market for automotive electronics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Conformal Coatings Market For Automotive Electronics Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the conformal coatings market for the automotive electronics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Conformal Coatings Market For Automotive Electronics Market?
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54% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for conformal coatings for automotive electronics in APAC.
The increasing investments in R&D by major industry players will facilitate the conformal coatings market for automotive electronics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
India witnessed the second wave of COVID-19 in 2021. As of July 8, 2021, the country has registered over 30.66 million COVID-19 cases. A significant rise in the number of COVID-19 cases led to either partial or complete lockdowns in various states of the country, which adversely impacted the automotive industries. There has been an unmet demand for conformal coatings for automotive electronics from industries due to supply chain disruptions, which is expected to hinder the growth of the regional market for a short period. However, with the ongoing COVID-19 vaccination drives, the number of COVID-19 cases is expected to decline during the forecast period. The operations in conformal coating manufacturing sites are expected to gradually rebound in 2021-2022, which is anticipated to fuel the growth of the regional market during the forecast period.
What are the Revenue-generating Product Segments in the Conformal Coatings Market For Automotive Electronics Market?
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The conformal coatings market share growth for automotive electronics by the acrylic segment has been significant and is expected to provide significant growth opportunities to market vendors. These coatings dry quickly and are thus used on a variety of substrates. Though these coatings are affordable, they have poor chemical resistance. These coatings provide superior resistance to moisture and humidity and produce no or less odor during soldering. These coatings can be partially or fully dissolved in common solvents. Acrylic conformal coatings do not emit heat during the curing process and are thus used to protect heat-sensitive automotive components. The numerous benefits offered by acrylic conformal coatings and their cost-effectiveness drive market growth. The demand for acrylic conformal coatings for automotive electronics is expected to increase during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the conformal coatings market for automotive electronics market size and actionable market insights on post COVID-19 impact on each segment.
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Conformal Coatings Market For Automotive Electronics Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
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Market growth 2021-2025 |
$ 67.99 million |
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Market structure |
Fragmented |
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YoY growth (%) |
9.20 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 54% |
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Key consumer countries |
China, US, Germany, Japan, and Argentina |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ALTANA AG, CHT Group, Dow Inc., Dymax Corp., H.B. Fuller Co., Henkel AG & Co. KGaA, Illinois Tool Works Inc., Master Bond Inc., Shin-Etsu Chemical Co. Ltd., and Von Roll Holding AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Conformal Coatings Market For Automotive Electronics Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive conformal coatings market for automotive electronics market growth during the next five years
- Precise estimation of the conformal coatings market for automotive electronics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the conformal coatings market for automotive electronics industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of conformal coatings market for automotive electronics market vendors
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