Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Conformal Coatings Market by Material (Acrylic, Silicone, Epoxy, Polyurethane, Parylene), Component (ECU, PCB, Sensor, Battery Casing, LED and Infotainment System), Application Method, Vehicle Type, EV, and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The automotive conformal coating market is projected to reach USD 3.5 billion by 2030, from an estimated USD 2.0 billion in 2024, at a CAGR of 10.0%
The report's scope covers detailed information regarding the major factors, such as influencing factors for the growth of the automotive conformal coating market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, key strategies; contracts, agreements, new product launches, and recent developments associated with the market.
Modern vehicles are increasingly equipped with advanced electronic systems, including infotainment systems, advanced driver-assistance systems (ADAS), sensors, and control units. The trend toward smaller, more complex electronic components increases their vulnerability to environmental damage, making conformal coatings essential for protection.In addition, the rise of electric vehicles (EVs) and autonomous driving technologies demands robust protection for high-voltage components and critical electronic systems, driving the adoption of conformal coatings.
The automotive conformal coatings market is led by globally established players such as Dow (US), Henkel AG & CO. KGAA (Germany), Chase Corporation (US), H.B. Fuller (US), and Shin-etsu Chemical Co. Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the automotive conformal coating market with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
BEV segment is the fastest-growing segment in the conformal coating market.
Stringent emission norms across the globe have led to an increased focus by governments on promoting and investing in BEVs. This is expected to create a favorable environment for BEV sales and drive its demand. BEVs rely heavily on sophisticated electronic systems for battery management, power conversion, propulsion, and various safety and infotainment functions.
These electronic components are particularly susceptible to environmental factors such as moisture, dust, temperature fluctuations, and chemical exposure. Conformal coatings provide essential protection against these hazards, ensuring the reliability and longevity of critical electronic systems in BEVs. The increasing sales of BEVs is expected to fuel the demand for conformal coatings to protect these vital components. These factors are expected to drive the market growth for BEV segment in near future.
The rapid advancement in electric vehicles space is also propelling the growth of the conformal coating market. Innovations in battery technology, power electronics, and vehicle connectivity are introducing more complex and sensitive electronic components that require robust protection. This will spur the demand for conformal coating in the forecast period.
Passenger Car is dominating the conformal coating market by vehicle type.
The passenger car segment is a dominant force in the conformal coating market, driven by the increasing integration of advanced electronic systems in modern vehicles. Today's passenger cars are equipped with a plethora of electronic components, including infotainment systems, advanced driver-assistance systems (ADAS), engine control units (ECUs), and various sensors.
These components are critical for enhancing vehicle performance, safety, and user comfort. Conformal coatings provide the necessary protection for these sensitive electronics against environmental factors such as moisture, dust, chemicals, and temperature extremes, ensuring their reliability and longevity. The widespread adoption of these advanced systems in passenger cars significantly boosts the demand for conformal coatings.
The rise of electric vehicles (EVs) and connected vehicles within the passenger car segment further drives the conformal coating market. EVs rely heavily on electronic systems for battery management, propulsion, and regenerative braking. Connected vehicles, which offer features like real-time navigation, remote diagnostics, and over-the-air updates, also depend on a robust network of electronic components. Conformal coatings are essential for protecting these electronics. As the adoption of EVs and connected vehicles continues to grow, propelled by consumer demand for sustainable and technologically advanced transportation options, the need for effective conformal coatings in the passenger car segment will continue to rise.
India to grow at the highest CAGR for Asia Pacific conformal coating market.
India's growth in the conformal coating market is also fueled by technological advancements and infrastructure development. The Indian automotive sector is rapidly adopting advanced technologies, including electric and autonomous vehicle systems, which rely heavily on complex electronics. Conformal coatings are crucial for protecting these electronic components from factors like moisture, dust, and temperature fluctuations, ensuring their reliability and longevity. Additionally, the development of infrastructure to support electric vehicles, such as charging stations and smart grids, is accelerating. This infrastructure boom is creating a conducive environment for the growth of the conformal coating market, as it increases the reliance on electronic systems that require robust protective measures.
The Indian government has launched several programs aimed at promoting the adoption of electric vehicles and enhancing vehicle safety standards. Initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme provide financial incentives for the production and purchase of EVs, which in turn drives the demand for conformal coatings.
Moreover, stringent regulations related to vehicle emissions and safety compel manufacturers to integrate high-quality electronic systems that need effective protection. These regulatory measures ensure that conformal coatings become an integral part of the automotive manufacturing process, thereby driving market growth at an unprecedented rate in India.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $2 Billion |
| Forecasted Market Value (USD) by 2030 | $3.5 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
Premium Insights
- Customer Inclination Toward Comfort and Safety Features to Drive Market
- Acrylic to Secure Leading Market Position During Forecast Period
- Ecu to Surpass Other Segments During Forecast Period
- Passenger Car Segment to Hold Highest Share During Forecast Period
- BEV to be Fastest-Growing Segment During Forecast Period
- Selective Coating Segment to be Dominant During Forecast Period
- Asia-Pacific to be Largest Market for Automotive Conformal Coatings During Forecast Period
Case Study Analysis
- Dymax Ga-201 UV Curing Form-In-Place (Fip) Gasket
- Scanning Electron Microscope
- Dymax 9482 Dual-Cure Light/Moisture-Cure Conformal Coating
Market Dynamics
Drivers
- Increasing Adoption of Electronics in Vehicles
- Growing Popularity of Electric Vehicles
Restraints
- Costly Removal and Repair of Conformal Coatings
- Size Reduction and Consolidation of Components
Opportunities
- Technological Advancements in Conformal Coatings
- Innovations in Autonomous and Connected Mobility
Challenges
- High Price of Conformal Coatings
- Stringent Government Regulations
- Lack of Technical Knowledge
Technology Analysis
Key Technology
- Embedded Sensors
- Complimentary Technology
- Robotic Dispensing Systems
- Nano-Coatings
- Self-Healing Coatings
Adjacent Technology
- Embedded Electronics and IoT-Enabled Components
Company Profiles
Key Players
- Dow
- Henkel AG & Co. KGaA
- Chase Corporation
- H.B. Fuller
- Shin-Etsu Chemical Co. Ltd.
- Electrolube
- Dymax
- Altana AG
- Cht Group
- Vsi Parylene
Other Players
- Hzo
- Para Tech Coating
- Paratronix
- Csl Silicones Inc.
- Comelec SA
- Peters Group
- Dawn Tech
- Miller-Stephenson, Inc.
- Chemtronics
- Mg Chemicals
- Conins Pune
For more information about this report visit https://www.researchandmarkets.com/r/j1gv0q
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
