Automotive Conformal Coatings Market - Global Forecast to 2025 texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.
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The global automotive conformal coatings market is projected to reach USD 2.7 billion by 2025 from USD 1.8 billion in 2020, at a CAGR of 8.7%.
The growth of this market is primarily driven by the increasing automotive electronics in vehicles and various technological advancements in the application method of conformal coating.
With progression in time, the COVID-19 impact has severely disrupted the supply chain for the entire automotive ecosystem. This has halted production facilities across the globe resulting in a disruption in the exports of automotive components. This scenario is expected to affect the automotive conformal coatings market, as the growth of the market is directly related to the production of the vehicles. The global production of vehicles pre-COVID-19 was expected to reach from ~90-95 million units in 2020 to ~110-115 million units by 2025. According to OICA, though global vehicle prod
Acrylic to be the largest segment, by material type.
Acrylic is estimated to be the largest market by the material during the forecast period. The key driver for acrylic dominating the market can be attributed to its cheaper cost than other available coatings and no special requirement of any additional equipment for its application. Moreover, it provides protection to sensitive components against a broad level of contaminations. These factors are expected to drive the market growth of the acrylic segment near future. Sensor to be the fastest-growing segment for Automotive Conformal Coatings Market, by component.
Automotive require data to transport passengers safely and efficiently. Sensors help provide the data for control, adaptation, and the response of vehicle functions that increase safety, comfort, and efficiency. Sensors have applications in airflow, speed, coolant, camshaft position, and throttle position. The coating of the sensor is necessary as they operate in a ch
CHICAGO, Jan. 14, 2021 /PRNewswire/ According to the new market research report "Automotive Conformal Coatings Market by Material (Acrylic, Silicone, Epoxy, Polyurethane, Parylene), Component