Austin, July 18, 2024 (GLOBE NEWSWIRE) -- The Automotive Conformal Coatings Market Size is expected to grow at a CAGR of 7.23% over 2024-2032, and is projected to reach USD 2.69 billion by 2032.
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Demand Driving Factors:
The increasing complexity of car electronic components that include advanced driver-assistance systems (ADAS), detailed infotainment units, and intricate engine management systems make it imperative to protect them from environmental hazards using conformed coatings. Conforming coatings are therefore essential to satisfy new laws that require more reliable automobiles which can withstand extreme weather conditions like rain, dust, and fluctuations in temperature
The market for conformal coatings used on PCBs is likely to grow because of the expanding electric vehicle (EV) category. In EVs where battery management systems and power electronics play a crucial role, such coating is indispensable for protecting these components against damage due to moisture, dust and electrical shorts.
Automotive Conformal Coatings Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.35 billion |
| Market Size by 2032 | USD 2.69 billion |
| CAGR | 7.23% by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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This scenario consequently leads to more electronic components being used in European vehicles than their Asian counterparts.
This provides an ideal ground for conformal coating manufacturers. To conclude, government policies encouraging domestic production of electronic products and prioritizing technology advancements in the automobile sector have indirectly led to growth of automotive conformal coatings market.
The extensive electronics needed to manage battery systems and electric motors in electric and hybrid cars are among the most significant new trends.
This is why there is an increasing demand for conformal coatings that protect these delicate components from the harsh environment under the hood. For this reason, silicone is increasingly being used for its broad temperature range and vibration resistance.
Furthermore, another trend that should not be ignored is electronic component miniaturization. As PCBs become smaller, conformal coatings become even more important as a way of safeguarding them from moisture, dust and corrosion. Finally, progress in application methodologies has made coat process simpler providing uniformity over it as well as waste reduction.
Challenges:
A challenging situation about finding or choosing right coating materials to use against one’s intentions is the major barrier.
But then again, acrylics seem most cost effective; however, their high susceptibility to extreme temperatures normally found in car engines make them a less risky option. On the other hand, silicones offer better heat resistance but may cost significantly more. Even with ideal material good techniques of applying it are very vital.
Analysis of key markets segments, highlighting growth opportunities and growth.
The automotive conformal coatings market is a section that is growing at a very fast pace and this is attributed to the increased complexity in car electronics. The material chosen is vital, with acrylic being the most prominent due to its inexpensiveness, effective application, as well as transparency that makes it suitable for various parts.
On the other hand, silicone emerges as the fastest-growing segment for parts exposed to extreme temperatures such as those found under the hood. It can withstand a wider range (-55°C to 200°C), making it perfect for engine control units and sensors. Significantly, emerging application methods are also propelling growth rates of this sector.
APAC dominates automotive conformal coatings market due to several factors.
This region has highest vehicles manufacturing base globally boosted by government efforts on safety features and rising consumer demand for in-vehicle comfort which results in increased electronic devices like ECUS, PCB’S ,SENSORS and LED SYSTEMS . In addition, countries such as China and India have expanding electronics manufacturing base which provides ready supply chain concerning conformal coating materials.
However, the market has had a downturn caused by chip scarcity that affected output. Nevertheless, the future for APAC’s automotive conformal coatings market looks promising.
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Recent Developments:
Henkel in February 2024 acquired Seal for Life Industries, a leading supplier of protective coatings. This buyout came during the introduction of their advanced Loctite Stycast CC 8555 coating. By doing this, they are providing to the increasing demand for electric vehicles and their high-powered electronics by protecting them better from unfavourable conditions.
Key Takeaways:
- Nowadays, cars have more PCBs (printed circuit boards) crammed inside them to cater for such sophisticated features as driver assistance and infotainment systems hence it is important to protect them from adverse environments.
- Conformal coatings act as thin protective layers that guard these tender components against moisture, vibrations, extreme temperatures and chemicals commonly found on roads.
- Most importantly though is that EVs with their high-voltage battery systems require even stronger protection mechanisms than previously conceived.
- This presents an opportunity for manufacturers of conformal coatings to develop new materials that address the specific challenges associated with electrification
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Automotive Conformal Coatings Market Segmentation, By Material
8. Automotive Conformal Coatings Market Segmentation, By Component
9. Automotive Conformal Coatings Market Segmentation, By Vehicle Type
10. Automotive Conformal Coatings Market Segmentation, By EV Type
11. Automotive Conformal Coatings Market Segmentation, By Application Method
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Use Case and Best Practices
16. Conclusion
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