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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.
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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.
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.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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.
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:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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