Growing Use Adoption To Fuel Sales of Automotive Electronics Conformal Coatings Market During Forecast Period 2022 – 2031 : Fact.MR

As per a new study by Fact.MR, the automotive electronics conformal coatings market is poised to surpass US$ 1 billion valuation by 2031, expanding at approximately 5% CAGR over the next ten years. Growth is likely to remain sustained due to the emergence of a strong electric vehicles market.

The market accrued significant gains until 2020, being valued at nearly US$ 790 million. According to the International Energy Agency’s Global EV Outlook 2021, a record 3 million new electric cars were registered in 2020, a 41% increase from 2019. By comparison, the global automobile market contracted 16% the same year. Moreover, this strong momentum of electric cars has spilled over to 2021, reaching almost 2.5X their level as against 2020.

Hence, key automotive manufacturers are incorporating highly advanced electronics to enable enhanced performance of EVs, prompting increased investments in conformal coatings for the same, opening up lucrative revenue prospects for the coming years. Manufacturers are highly likely to target the emerging economies across Asia, notably India and China, for better prospects.

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Key Market Segments Covered

• Material

  • Acrylic Automotive Electronics Conformal Coatings
  • Silicone Automotive Electronics Conformal Coatings
  • Urethane Automotive Electronics Conformal Coatings
  • Epoxy Automotive Electronics Conformal Coatings
  • Paraxylene Automotive Electronics Conformal Coatings

• Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia
    • India
    • Rest of South Asia
  • Oceania
    • Australia
    • Rest of Oceania
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

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Competitive Landscape

Some notable developments in the global automotive electronics conformal coatings landscape are as follows:

• In March 2021, Electrolube Limited announced that its UV conformal coating is highly effectual in enhancing durability of electric vehicle management systems across India, providing high degree of protection for electronic circuitry at high production throughputs.
• CONINS Pune, a prominent Indian manufacturer, offers a broad range of PCB conformal coatings, including the G1/G2/G3 electronic coating, conformal coatings for LED lights, VOC-free moisture proof PCB conformal coating and PCB assembly conformal coating spray.
• In November 2019, Europlasma N.V launched PlasmaGuard, the first halogen-free PECVD conformal coating for PCBs and wearables.

*This list is indicative- full details about prominent market players is available upon request

Key Takeaways from Market Study

• Demand for acrylic automotive electronics conformal coatings to reach almost US$ 500 million by 2031
• Deployment of urethane conformal coatings to surge at a CAGR of nearly 5% across the forecast period
• Silicone-based automotive electronics conformal coatings to experience a CAGR of nearly 4% until 2031
• The U.S. to register inclining sales of automotive electronics conformal coatings, being valued at over US$ 200 million in 2020
• Surging EV sales to provide tailwinds to the Chinese market, likely to surpass US$ 220 million
• Australia, India, and South Korea are forecast to collectively reach nearly US$ 150 million by 2031

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More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the glass flake coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of material (acrylic, silicone, urethane, epoxy, and paraxlyene), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa)

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