Automotive Conformal Coating Market worth $3.5 billion by 2030 | MarketsandMarkets

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Automotive Conformal Coatings Market Scope:

Acrylic to be the largest segment, by material type

Acrylic account for a largest share of the conformal coatings market, with broad applications in automotive electronics. This attributes to its cheaper cost than other available coatings and no special requirement of any additional equipment for its application.  The acrylic coatings protect electric circuits from moisture, dirt, dust, thermal shocks, and scratches, which could corrode, short circuit, or otherwise damage the electric component. They also provide insulation against high-voltage and static discharges. Additionally, these coatings are fast-curing, free from solvents, and easily reworkable. They produce little or no heat during the curing process, eliminating potential damage to heat-sensitive components.

These coatings provide protection at a lower cost than other conformal coatings. They can withstand temperatures ranging from -65°C to +125°C and are widely used for coating components inside the vehicle cabin as they are not exposed to high temperatures. Acrylic conformal coatings are transparent, insulating, and quick-drying coatings. They are also easy to apply and do not require special equipment.

PCB to be the fastest-growing segment for automotive conformal coatings market, by component.

Printed circuit board (PCB) is responsible for holding together all the exquisite sensors and components required for the efficient operation of an automotive vehicle. Automotive PCB manufacturers need to provide a wide variety of options. The kinds of systems and operations that now use PCBs for enhanced efficiency and safety include rear LED lights and running lights, transmission controls, and comfort control units, among others.

Automotive PCB manufacturers are required to provide PCBs made of materials that can operate at optimum levels in harsh working environments. Automotive manufacturers also face stringent regulatory requirements for vehicle reliability, safety, and environmental performance. Conformal coatings play a vital role in helping automakers meet these standards by safeguarding PCBs against environmental hazards that could compromise their functionality. By enhancing the reliability of electronic systems, conformal coatings contribute to overall vehicle quality and compliance with industry regulations. Hence, conformal coating of PCBs is essential as it helps provide long-term surface insulation. Acrylic is the most common material used to coat these PCBs.

Europe is dominating market in the automotive conformal coating market.

Europe covers the UK, Germany, France, Spain, Italy, and Russia for market analysis. The region is home to several automotive giants and premium vehicle manufacturers, including BMW AG (Germany), Daimler AG (Germany), Fiat (Italy), PSA/Peugeot-Citroen (France), and Volkswagen AG (Germany). These companies are at the forefront of automotive innovation, pushing the boundaries of vehicle performance, safety, and technology. The presence of these manufacturers has significantly increased the demand for high-quality automotive components and materials, including conformal coatings. These coatings are essential for protecting electronic systems in modern vehicles, ensuring their reliability and longevity.

Henkel AG & Co. KGaA (Germany), Electrolube (UK), ALTANA AG (Germany), and CHT Group (Germany) are major conformal coating suppliers in the European region. These suppliers invest heavily in research and development to innovate and improve coating technologies, providing protection for sensitive electronic components. Additionally, the strong supply chain and distribution networks established by these suppliers enable quick and efficient delivery of conformal coatings across Europe. This reliability ensures that manufacturers have regular access to the materials they need to maintain production schedules and quality standards.

Governments in Europe are further implementing strategies to boost their electronics industry, which could create lucrative opportunities for the conformal coatings market in the coming years. Higher passenger car production and mandatory safety system installation lead to more electronic components in European cars than in Asia Pacific, thereby driving the market.

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Automotive Conformal Coatings Market Dynamics:

Drivers:

1.  Increasing adoption of electronics in vehicles.

Restraints:

1.  Size reduction and consolidation of component.

Opportunities:

1.  Innovation in autonomous and connected mobility

Challenge:

1.  Lack of technical knowledge

Key Market Players Automotive Conformal Coatings Industry:

Prominent players in the Automotive Conformal Coatings Market include Dow (US), Henkel AG & CO. KGAA (Germany), Chase Corporation (US), H.B. Fuller (US), and Shin-etsu Chemical Co. Ltd. (Japan)

The break-down of primary participants is as mentioned below:

• By Stakeholder: Demand Side - 20%, Supply Side – 80%
• By Designation: C level - 10%, D level - 30%, Others – 60%
• By Region: North America - 20%, Europe - 20%, Asia Pacific- 60%

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Automotive Conformal Coatings Industry Recent Developments:

• In Feb 2024, Henkel AG & CO. KGaA signed an agreement to acquire US-based Seal for Life Industries, a provider of innovative coating and sealing products. This includes visco-elastic coatings, epoxy & urethane coatings, and fire protection. It also offers heat-shrink sleeves, insulation, and sound-dampening coatings.
• In Feb 2024, Henkel AG & CO. KGaA announced the launch of Loctite Stycast CC 8555, a conformal coating designed to protect electronics in extreme environments. It can be used on PCBs and sensitive component protection in challenging, high-power applications such as motor drives, PLCs, EV charging infrastructure, AC/DC power supplies, and other high-voltage electronics.
• In March 2023, Dow introduced the DOWSIL PV product line, which consists of six silicone-based sealants and adhesive solutions designed to provide long-lasting durability and established performance for applications such as frame sealing, rail bonding, junction box bonding, and potting, as well as materials for the installation of building integrated photovoltaics (BIPV).

Automotive Conformal Coatings Market Size - Key Benefits of Buying the Report:

• The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall automotive conformal coating market and the sub-segments.
• This report will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

• Analysis of key drivers (Increasing adoption of electronics in automobiles, increasing adoption of electric vehicles), restraints (Costly removal and rework in case of damage, Size reduction of components), opportunities (Technological advancements in conformal coating, Advancement in autonomous and connected mobility) and challenges (High price of conformal coating, Stringent government regulation, Lack of technical knowledge) influencing the growth of the automotive conformal coating market.
• Product Development/Innovation: Detailed insights on technologies, and new product launches in the automotive conformal coating market.
• Market Development: Comprehensive information about the markets – the report analyses the automotive conformal coating market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in automotive conformal coating market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies offerings of leading players like Dow (US), Henkel AG & CO. KGAA (Germany), Chase Corporation (US), H.B. Fuller (US), and Shin-etsu Chemical Co. Ltd. (Japan) among others in automotive conformal coating market.

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