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3. Top Companies in Automotive Conformal Coatings Industry - Dow (US), Henkel AG & CO. KGAA (Germany) and Chase Corporation (US)

The automotive conformal coating market is projected to reach USD 3.5 billion by 2030, from an estimated USD 2.0 billion in 2024, at a CAGR of 10.0% during the forecast period. 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.

The automotive conformal coating market is dominated by globally established players such as Dow (US), Henkel  AG & CO. KGAA (Germany), Chase Corporation (US), H.B. Fuller (US), and Shin-etsu Chemical Co. Ltd. (Japan). These companies focus on product launch, agreement and collaboration to gain traction in this growing automotive conformal coating market.

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Henkle AG & CO. KGAA

Henkel AG & Co. KGaA has a diversified geographic presence. The company has strategically expanded its presence across the globe. The company’s presence across various regions indicates lesser vulnerability to country-specific risks. Moreover, the company is well-positioned to tap into growth opportunities offered across regions.The company has adopted various strategies including product launch, deals, expansion and others. In February 2024, Henkel AG & CO. KGaA announced the launch of Loctite Stycast CC 8555, a conformal coating designed to protect electronics in extreme environments. It can be used on PCBs and sensitive component protection in challenging, high-power applications such as motor drives, PLCs, EV charging infrastructure, AC/DC power supplies, and other high-voltage electronics.In February, Henkel AG & CO. KGaA signed an agreement to acquire US-based Seal for Life Industries, a provider of innovative coating and sealing products. This includes visco-elastic coatings, epoxy & urethane coatings, and fire protection. It also offers heat-shrink sleeves, insulation, and sound-dampening coatings.

In June 2023, A distribution agreement has been established between Henkel AG & CO. KGaA and Labori International. Per the agreement’s terms, Henkel will retain responsibility for overseeing the brand’s business operations during a transitional phase. In June 2023, Henkel AG & CO. KGaA partnered with Bodo Moeller Chemie in the electronics sector. This will help the latter enter the automotive sector and distribute Henkel adhesives, sealants, and functional coatings for the repair and maintenance of vehicles. Henkel’s technical sales team will be available for local consultations in the Baltic states of Estonia, Latvia, and Lithuania.

DOW

Dow is considered one of the leading players in Silicone-based technologies. The company is leveraging this advantage by closely working with customers so that it can produce the first of its kind products that help electronics manufacturers achieve sustainability and productivity goals. Moreover, strong emphasis on R&D helps it in improving the quality of its existing products and develop innovative and new products. The company has opted strategies including product launches and delas. In March 2023, Dow introduced the DOWSIL PV product line, which consists of six silicone-based sealants and adhesive solutions designed to provide long-lasting durability and established performance for applications such as frame sealing, rail bonding, junction box bonding, and potting, as well as materials for the installation of building integrated photovoltaics (BIPV). In November 2022, Dow has selected AB Specialty Silicones as an authorized distributor for the US and Canada, facilitating the expansion of the company’s OH functional silicone polymers within the elastomeric roof coating (ERC) sector.

CHASE CORPORATION

Chase Corporation has strong presence in the conformal coatings market due to its wide product portfolio that comprises various materials such as acrylic, silicone, and urethane, among others. It has established various material types of automotive conformal coatings under its HumiSeal brand. In the last few years, the company has entered into distribution agreements with some companies in Europe. The company has opted strategies including deals. In July 2023, Chase Corporation has confirmed its engagement in a definitive agreement for acquisition by an affiliate of KKR, a prominent global investment firm. In September 2022, Chase Corporation successfully finalized the acquisition of NuCera Solutions from SK Capital, a New York-based private equity firm, for USD 250 million, subject to potential working capital adjustments and excluding costs associated with the acquisition.

Related Reports:

Automotive Conformal Coatings Market by Material (Acrylic, Silicone, Epoxy, Polyurethane, Parylene), Component (ECU, PCB, Sensor, Battery Casing, LED and Infotainment System), Application Method, Vehicle Type, EV, Region - Global Forecast to 2030

Contact:
Mr. Aashish Mehra
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