Automotive Conformal Coatings Market: By Material, Application Method, Vehicle Type, EV, and Region
Global Automotive Conformal Coatings market is valued at USD 1.09 Billion in 2022 and is projected to attain a value of USD 2.10 Billion by 2030 at a CAGR of 8.60% during the forecast period, 2022–2028. Automotive Conformal Coatings are used to protect car exterior body parts like door panels, trunk or hoods and fenders that absorb impact energy during high-speed collisions. Conformal coating is the best way to protect light weight substrates from moisture, gasoline etc. It also protects vehicle's mechanical surface such as steering wheel, instrument panel against abrasion and wear of continuous friction to increase lifespan of vehicle.
To avoid corrosion of underlying metal chassis by avoiding contact with fuel vapors which contain ethanol; Alkyd based automotive conformal coating is preferred over two pack Polyurethane (PU) and one pack Poly urethane (PU). One pack PU is preferred over two pack PU as it has better flow ability, UV protection and high gloss retention. Conformal coating prevents the automotive body panels from corrosion or rust that can occur due to its exposure to various weather conditions for a long-time.
Automotive Conformal Coatings Market Size, 2022 To 2030 (USD Billion)
Growing Focus on Increasing Fuel Efficiency and Light Weighting to Drive Growth of Automotive Conformal Coatings Market
Many factors are driving growth in the automotive conformal coating market. The growing use of lightweight materials in automobiles is one. Demand for lighter-weight cars drives greater use of structural adhesives and sealants rather than traditional mechanical fasteners, which add weight to a vehicle. Light weighting efforts will likely gain more traction as manufacturers strive to meet strict corporate average fuel economy (CAFE) standards around the world, especially in the United States and Europe where they require significant reductions in greenhouse gas emissions. Other key drivers include increasing environmental pressures on OEMs to investigate, specify and implement alternative paint primers and topcoats that can reduce or eliminate volatile organic compound (VOC), chromate and heavy metal content in their finished products, as well as increasing vehicle production rates globally.
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The global Automotive Conformal Coatings market is segmented into material, application method, vehicle type, and region. Based on material, the market is segmented into acrylic, silicone, epoxy, polyurethane, parylene, and others. Based on component, it is segmented into ECU, PCB, sensor, battery casing, LED and infotainment system. On the basis of vehicle, it is passenger vehicle and commercial vehicles.
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Passenger Vehicle to Lead the Global Automotive Conformal Coating Market
Since the car production has increased annually, consumers are getting aware of valuable products. The most important features of conformal coating are to improve durability, protection against corrosion and rusting, easy installation and low maintenance which is driving growth for this segment. Moreover, the automotive manufacturers have increased the average passenger vehicle production rate on a global scale. This has resulted in a backlog of unfinished products and as a result, more car makers are looking at coating solutions to protect their large body parts. In recent years, some OEMs have started using conformal coatings as an alternative for traditional leather stitching on steering wheels and its surrounding trim panels. In addition to being abrasion-resistant, cost-effective and easy to install, these coatings also offer clear advantages over leather stitching such as greater color consistency across batches and better appearance of finished goods because of homogenous staining. It is estimated that one-third of total new vehicles featuring a leather interior will use a hard material coated with textile or vinyl conformal coating, rather than stitching.
Acrylic Automotive Conformal Coating Holding the Largest Market Share
Acrylic coating is most commonly used for corrosion protection of a substrate with a single component, solvent-borne system. The most common acrylic coatings are 2K and 3K thick primers that have been widely accepted in the market due to its excellent hardness, adhesion properties and chemical resistance. It is also being used as a top coat over epoxy or urethane primer which increases abrasion resistance by three to seven times the original value. In addition, it has good corrosion resistance compared to other conventional options available in the market such as Polyurethanes (PU), Polyesters (PT) and Ethylene Vinyl Acetate (EVA).
Asia Pacific is the Largest and Fastest Growing Market for Automotive Conformal Coatings
Asia-Pacific is the largest and fastest growing market for Automotive Conformal Coatings. Countries such as China, India and Thailand are major markets in this region with significant growth potential during next five years. These countries contribute to over 60% of the total industry revenue share. This can be attributed to rise in disposable income, increasing purchasing power of consumers, increasing production levels by automakers across these countries, growing demand for luxury cars especially from emerging economies such as China & India are boosting overall automotive rubber coating market growth globally. Moreover, infrastructure development in the construction industry and growing demand for corrosion protection coating from marine & oil industry will also provide growth opportunities to the industry participants over next five years. The regional growth is further supported by growing demand for passenger car production in countries such as China, India and Thailand.
Dow (US), PPG Industries, Inc. (U.S.), Henkel (Germany), GC Chemicals America, Inc. (Japan) SABIC Innovative Plastics Holding BV (Netherlands) HUBER Group (Germany) Akzo Nobel N.V. (Netherlands), Chase Corporation (US), Badu Chemical Industry Co., Ltd. (China), Electrolube (UK), RPM International LLC (U.S.), H.B. Fuller (US), and Wacker Chemie AG (Germany) are some of the players in the global Automotive Conformal Coatings market.
Opportunities and Challenges Faced by Adoption of Automotive Conformal Coatings
One major challenge for this industry is under coating or improper preparation of surface before coating. Even a minor issue can increase coating failure rate and lower the quality of end product. To overcome this, automakers maintain detailed process and procedure manuals to ensure proper surface treatment and provides technical support to installers for installation issues.
To meet growing global demand, manufacturers need to focus on developing advanced disposal technology that offers disposal at low cost with better efficiency to increase revenue. In addition, it is also necessary for manufacturers in these markets to develop new application processes such as dipping and spraying instead of conventional brushing method.
The Automotive Conformal Coatings is Segmented as Follows:
- Material (Acrylic, Silicone, Epoxy, Polyurethane, Parylene, Others)
- Component (ECU, PCB, Sensor, Battery Casing, LED, Infotainment System)
- Vehicle (Passenger Vehicle, Commercial Vehicles)
- Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Dow (US)
- PPG Industries Inc. (U.S.)
- Henkel (Germany)
- GC Chemicals America Inc. (Japan)
- SABIC Innovative Plastics Holding BV (Netherlands)
- HUBER Group (Germany)
- Akzo Nobel N.V. (Netherlands)
- Chase Corporation (US)
- Badu Chemical Industry Co. Ltd. (China)
- Electrolube (UK)
- RPM International LLC (U.S.)
- H.B. Fuller (US)
- and Wacker Chemie AG (Germany)
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