The automotive electronics conformal coatings market is anticipated to reach a value of over US$ 1 billion by 2031, growing at a rate of over 5% CAGR during the forecast period.
Due to the development of a robust market for electric vehicles, growth is projected to continue unabated. Allowing for recessionary pressured induced by the COVID-19 pandemic, the global market for automotive electronics conformal coatings was estimated at almost US$ 790 million as of 2020.
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Increasing digitization, rising sales of consumer electronics, and increasing scope of electronic conformal coating applications in the medical industry are other factors that are set to drive market growth going forward. Electronic conformal coating manufacturers are focusing on mergers and acquisitions to strengthen their foothold in the global market and gain a competitive edge.
In September 2020, Covestro, a German material manufacturer, announced the acquisition of the sustainable coating resins business of DSM. This acquisition helped Covestro strengthen its stance in the sustainable coatings business.
What Prospects Await Electronic Conformal Coating Suppliers?
“Growing Need for Electronic Conformal Coatings Due to Increasing Focus on Miniaturization of Electronics”
Technological advancements have transformed the electronics industry over the past decade and this trend is expected to be rife over the coming years as well. Electronics and electronic components are now being miniaturized as the complexity of devices is increasing, and to deliver advanced technology in a compact format, there is the need for miniaturized PCBs.
Electronic conformal coatings are crucial to ensure the proper functioning of these miniaturized circuit boards and hence this is expected to prominently drive market growth.
“Rising Use of Electronic Components in Automotive Industry”
The automotive industry has undergone some major changes over the past few years and this has led to increased use of electrical and electronic components in vehicles.
Increasing popularity of electric vehicles and rising focus on sustainability have also increased the use of automotive electronics and hence the demand for electronic conformal coatings is also projected to increase over the coming years.
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.
Key Companies Profiled
- Aalpha Conformal Coatings
- ACC Silicones Ltd.
- ACL Inc.
- ALTANA AG
- Anabond Limited
- Avante International Technology Inc.
- Chase Corporation
- Creative Materials Inc.
- CSL Silicones Inc.