The study involves 4 main activities to estimate the current size of the automotive conformal coatings market. Exhaustive secondary research was done to collect information on the market, such as the conformal material, upcoming technologies, and component coated with these coating. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. A mix of bottom-up and top-down approach was employed to estimate the market size for different segments considered under this study.
Secondary Research
The secondary sources referred for this research study include automotive organizations such as the European Automobile Manufacturers’ Association, The Institute for Advanced Composites Manufacturing Innovation, corporate filings (such as annual reports, investor presentations, and financial statements), Factiva, CrunchBase, Bloomberg and trade, business, and automotive associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by multiple industry experts.
Primary Research
Extensive primary research was conducted after acquiring an understanding of the automotive conformal coatings market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (OEM) and supply-side (automotive conformal coating manufacturers and distributors) players across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. Approximately 20% of primary interviews from the demand side and 80% from the supply side were conducted. Primary data was collected through questionnaires, mails, and telephonic interviews.
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Market Size Estimation
A detailed market estimation approach was followed to estimate and validate the automotive conformal coatings market and other dependent submarkets, as mentioned below:
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Key players in the automotive conformal coatings market were identified through secondary research, and their global market shares were determined through primary and secondary research.
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The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players as well as interviews with industry experts for detailed market insights.
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All application-level penetration rates, percentage shares, splits, and breakdowns for the automotive conformal coatings market were determined by using secondary sources and verified through primary sources.
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All key macro indicators affecting the revenue growth of the market segments and subsegments have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
Bottom-Up Approach
The bottom-up approach was used to estimate and validate the size of the global market and various other dependent sub-markets of the overall automotive conformal coatings market. The research methodology used to estimate the market size includes the following details.
The bottom-up approach was used to estimate and validate the size of the automotive conformal coatings market, by component and vehicle type, at country and region levels. The country-level production of vehicles for each type (in units) was derived from secondary sources and paid databases and validated through primary interviews. The country-level production of vehicle types (passenger cars, light commercial vehicle, and heavy commercial vehicle) was multiplied by average number of quantity of components (ECU, PCB, sensors, battery casing, LED, and infotainment system), which was derived from secondary sources and validated through primary interviews. Then the average surface area of each component where the conformal coating is required was derived through secondary and primary validation. The average quantity of conformal coating per mm2 surface area for components was derived through secondary and primary validation. Multiplication of the coating quantity with average surface area derived conformal coating quantity per component. Multiplication of average quantity of conformal coating per component multiplied by the total number of components in each vehicle type provided the total quantity of conformal coating per component, and summation of quantities required for components per vehicle provides the quantity of conformal coating per vehicle in liters at country level. To derive the value market, for component and vehicle type segments, ASP of per ml/liter conformal coating has been derived through secondary and primary validation and multiplied with the total quantity per component, which provides conformal coating value by component, and summation of all component values provides conformal coating value by vehicle at country level. The summation of country-level markets led to the regional market, and further summation of the regional markets led to the global automotive conformal coatings market, by vehicle type and component.
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Top-Down Approach
For the material segment, the region-wise automotive conformal coatings market volume, by region (Asia Pacific, North America, Europe, and RoW), was derived from the global automotive conformal coatings market by application method. Further, the percentage share of each material type (silicone, acrylic, epoxy, polyurethane, and parylene) at the regional level was derived from secondary sources and validated through primary sources. This percentage share of each material type was multiplied by regional volume to get the automotive conformal coatings market volume ('000 liters) for each region. For the value market, the average selling price of each conformal coating (USD/liters) was derived at regional level from secondary sources and validated from primaries at the regional level. The automotive conformal coatings market, by material, was then multiplied by the average selling price of each material USD/liters. Through this, the automotive conformal coatings market, by material type, was derived in terms of value (USD million). Summation of all region-wise markets was done to derive the total automotive conformal coatings market, by material, in terms of value (USD million) and volume ('000 Liters).
Data Triangulation
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. The data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report.
Market Definition
Automotive conformal coatings are specialized protective coatings applied to electronic components and circuitry within vehicles to safeguard them from environmental factors such as moisture, dust, chemicals, and temperature extremes. These coatings are typically thin layers of polymeric film that conform to the contours of the electronics, providing a barrier that enhances the durability and reliability of sensitive components. By preventing corrosion, electrical failures, and physical damage, conformal coatings ensure the optimal performance and longevity of automotive electronics, which are increasingly critical in modern vehicles due to the integration of advanced systems like infotainment, ADAS, and engine control units .
Stakeholders
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Automotive Conformal Coating Suppliers
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Automotive Electronics Manufacturers
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Original Equipment Manufacturers (OEMS)
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Raw Material Suppliers
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Regional Manufacturer Associations and Automobile Associations
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Automotive Conformal Coating Traders, Distributors, and Suppliers
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Automotive Industry as an End-Use Industry
Report Objectives
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To define, describe, segment, and forecast the size of the automotive conformal coatings market in terms of volume (thousand liters) and value (USD million/billion) from 2019 to 2030
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To define, describe, and forecast the size of the automotive conformal coatings market based on material, component, vehicle type, EV type, application method, and region
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To segment and forecast the size of the automotive conformal coatings market based on material (parylene, silicone, acrylic, epoxy, and polyurethane)
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To segment and forecast the size of the automotive conformal coatings market based on component (ECU, PCB, sensor, battery casing, LED, and infotainment system)
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To segment and forecast the size of the automotive conformal coatings market based on vehicle type (passenger car, light commercial vehicle, and heavy commercial vehicle)
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To segment and forecast the size of the automotive conformal coatings market based on EV type (BEV and HEV/PHEV)
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To segment and forecast the size of the automotive conformal coatings market based on application method (brush coating, dipping, spray coating, selective coating, and vapor deposition)
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To define, describe, and forecast the size of the automotive conformal coatings market based on region (Asia Pacific, Europe, North America, and Rest of the World)
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To understand the market dynamics (drivers, restraints, opportunities, and challenges) and conduct patent analysis, case study analysis, value chain analysis, regulatory analysis, and ecosystem analysis
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To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market
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To strategically profile key players and comprehensively analyze their market share and core competencies
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To analyze recent developments, such as agreements/partnerships/collaborations, mergers and acquisitions, expansions, and product developments of key players in the automotive conformal coatings market
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To understand the dynamics of the key market players and distinguish them into stars, emerging leaders, pervasive players, and participants according to their product portfolio strength and business strategies
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To analyze the opportunities offered by various segments of the market to its stakeholders
Available Customizations
Along with the market data, MarketsandMarkets offers customizations in accordance with company-specific needs.
The following customization options are available for the report:
Country Information
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Application method segment at country level
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Automotive Conformal Coatings Market