Global Conformal Coatings Market for Automotive Electronics 2017-2021
About Conformal Coatings
Conformal coatings are materials that are applied in thin layers (0.002 to 0.005 inch) on electronic substrates. These coatings protect and cover printed circuit boards (PCBs) and other electrical components from harsh environmental conditions such as moisture, dirt, abrasion, chemical, mechanical stress, and vibration and thereby improving the durability of the electronic components used.
Technavio’s analysts forecast the global conformal coatings market for automotive electronics to grow at a CAGR of 6.21% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global conformal coatings market for automotive electronics for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Conformal Coatings Market for Automotive Electronics 2017-2021
Technavio recognizes the following companies as the key players in the global conformal coatings market for automotive electronics: Chase Corporation, H.B. Fuller, Henkel, Illinois Tool Works, Shin-Etsu Chemical, and The Dow Chemical Company.
Other Prominent Vendors in the market are: Aalpha Conformal Coatings, ACC Silicones, ACL, ALTANA, Conins Pune, Creative Materials, CSL Silicones, Dymax, Electrolube, Europlasma, JOHN C. DOLPH COMPANY, Master Bond, MG Chemicals, Specialty Coating Systems, and The Peters Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing emphasis on active safety systems in automobiles. Active safety systems include pre-crash warning, post-crash rescue, and prevention management systems. Though the production of active safety systems is in the nascent stage of development, the segment will exhibit sustainable growth during the forecast period. Safety systems in automobiles will reduce the number of road accidents.”
According to the report, one of the major drivers for this market is Growing demand for fuel-efficient automobiles. There is an increased demand for lightweight materials by various end-user industries. The use of lightweight material reduces the overall weight of the vehicle, which further reduces carbon dioxide emissions. has emerged. Governments across the world formulate policies and implement regulations to improve fuel efficiency and reduce carbon emissions. For instance, according to the regulations set by the Corporate Average Fuel Economy (CAFE), the automakers must improve fuel economy from the current 38 miles/gallon to 54.52 miles/gallon by 2025. In addition, the EU aims at reducing carbon dioxide emissions to 95 grams/km by 2020.
Further, the report states that one of the major factors hindering the growth of this market is Regulations on high emissions of VOC. VOCs are found in solvent-based paints, sealants, adhesives, coatings, organic solvents, printing inks, and other petroleum products. The release of VOCs causes air pollution and smog. Since April 2007, regulations have been implemented to limit the amount of VOC contents released from these above-mentioned products. The regulation framed by EU was amended in October 2009 and the prescribed limits were extended to other products such as vehicle refinishing coatings, adhesives, sealants, and paints used in crafts.
Chase Corporation, H.B. Fuller, Henkel, Illinois Tool Works, Shin-Etsu Chemical, The Dow Chemical Company, Aalpha Conformal Coatings, ACC Silicones, ACL, ALTANA, Conins Pune, Creative Materials, CSL Silicones, Dymax, Electrolube, Europlasma, JOHN C. DOLPH COMPANY, Master Bond, MG Chemicals, Specialty Coating Systems, and The Peters Group.