In terms of revenue, the Global Automotive Conformal Coatings Market is expected to reach by 2028, growing at a CAGR of from 2022 to 2028. The key factors driving the Automotive Conformal Coatings Market rising use of electronics in automotive components and the high demand for electrical vehicles.
- Under the material segment, the acrylic sub-segment is anticipated to hold a significant share attributable to the low price of the material compared to other materials.
- Passenger car sub-segments held a substantial market share in 2021. This is the fastest segment growing in the Automotive Conformal Coatings Market, as the production of passenger cars is higher than commercial cars.
- is expected to grow at the fastest CAGR. This region is growing at a rapid phase due to rising industrialization and urbanization along with the low cost of production.
Some of the key players dominating the Automotive Conformal Coatings Market include - .
Conformal coating is a protective dielectric layer applied on PCBs assembly to protect them from dust, moisture, spray, salt spray, fungus, and corrosion caused by harsh environments. Also, adequate care needs to be taken while selecting the conformal material as it should not react with the component. Due to the advances in automotive technology, modern vehicles are relying more and more on sophisticated computers and electronic systems to function properly. Providing protective conformal coating for sensitive electronic assemblies and complex components in automobiles has become increasingly necessary. The automotive industry routinely turns to conformal coatings to provide enhanced protection for all kinds of electronic circuitry.
is expected to grow at the fastest CAGR in the coming years due to the high demand for electronic components in the automotive industry. Major Key players are investing in the production of automotive conformal coating manufacturing plants. China to be the epic center for manufacturing, the huge potential is predicted for Automotive Conformal Coatings Market in recent years. Low cost of production and high demand is expected to flourish the Automotive Conformal Coatings Market.