ELECTRONIC POTTING AND ENCAPSULATING MARKET REPORT OVERVIEW
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The global electronic potting and encapsulating market size was USD 1855.8 million in 2021 and is projected to touch USD 4278.99 million by 2031, exhibiting a CAGR of 8.7% during the forecast period.
Potting enhances vibration and resistance properties while also guarding against corrosive substances and moisture by covering an entire electronic system with a solid or gelatinous compound such as acrylic, silicone, or resins. Encapsulation involves creating a frame around an item with a reusable mold and filling the space between the frame and the object with chemicals. The fundamental purpose of encapsulation is to create a protective covering around the electronic assembly.
The expansion of the electronics sector is being accelerated by increased consumer spending around the world. In response to the growth of developing countries, consumer demand for electronics is increasing. Customers in electronics-producing countries can afford novel electronic items, resulting in an increase in the global electronic potting and encapsulating market.
COVID-19 Impact: Halt on Production and Supply Chain Disruption to Impede Sales.
The global COVID-19 pandemic has been unprecedented and staggering, with electronic potting and encapsulating experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the electronic potting and encapsulating market growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 epidemic has wreaked havoc on economic and social institutions around the world. The illness has infiltrated the value and supply chains of various industries, including the electronic potting and encapsulating market. Lockdowns were imposed by the government on a number of sites. COVID-19 has wreaked havoc on a variety of manufacturing businesses, including the electronics industry, as well as general economic activity. The electronics industry has been impacted by the installation of lockdowns in numerous nations and supply shortages. The slowdown in economic activity has harmed the industry's development and expansion, which has a cascading effect on demand for potting compounds.
LATEST TRENDS
"Increasing Demand of Epoxy to Bolster Market Progress"
Epoxy resins are important because of their unique properties, such as improved adhesion, high temperature and chemical resistance, increased stiffness, modulus, and tensile strength, and excellent moisture resistance. Epoxies are widely utilized in potting transformers and switches because of their high dielectric characteristics. In the global potting compound market, the electronics application is the fastest-growing application category. This is due to the usage of potting compounds by major industrial producers in consumer electronics, transportation, aviation, marine, energy and power, solar power, and other industries. Potting is used to minimize internal stress, obtain good dielectric characteristics, electrical insulation, thermal conductivity, thermal shock resistance, mechanical strength, adhesion, hardness, cure speed, and chemical resistance in both electrical and electronic applications.
ELECTRONIC POTTING AND ENCAPSULATING MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into Silicones, Epoxy, Polyurethane, and Others.
The epoxy category is now leading the market due to its low cost, which is driving up demand globally. These factors are likely to boost the electronic potting and encapsulating market progress.
- By Application Analysis
Based on applications, the market is classified into Consumer Electronics, Automotive, Medical, Telecommunications, and Others.
The consumer electronics segment is expected to hold the largest market share. Electrical insulation is the most popular product on the market since it is simple to install and does not require any special equipment. These factors may propel the electronic potting and encapsulating market growth.
DRIVING FACTORS
"Increasing Adoption of Alternative Compounds to Foster Market Growth"
Because urethanes are more flexible than epoxies, they impose less strain on potted components. They perform better in applications that need thermal cycling or in low-temperature conditions (down to -40C or lower). These potting compounds are typically less resistant to chemicals and high temperatures (above 130C). Because the isocyanate portion of urethane reacts with moisture in the air and the polyol portion absorbs moisture, urethanes can be more difficult to work with than epoxy or silicone.
Other types of potting compounds may be appropriate in certain circumstances. These compounds can be made with epoxy, urethane, or silicone bases and are generally defined by their end-use or cure process. UV Curing compounds can be a suitable alternative, especially if curing time is a major problem. UV curing allows compounds to cure in seconds, although it may not cure completely in thick potting or encapsulations, particularly in those with darkened parts. In some applications, formulations with secondary heat, moisture, or chemical cures can provide complete curing.
"Increasing Demand for Technologically Advanced System to Boost Market Growth"
Consumers are more concerned with product durability, which encourages the potting and encapsulation of electrical components. Because of incorrect component handling, consumer electronics goods are more vulnerable to external harm. Therefore, incorrect and damaged products are produced. Moreover, people seek more durable and long-lasting items. Electronic potting and encapsulating have a number of advantages, including lower shell and mold costs, improved electric insulation, and efficient performance in harsh conditions.
RESTRAINING FACTORS
"Chemical Reactions to Impede Market Progress"
When potting, there are two basic hazards to components. The first is that the heat generated by the curing reaction will harm fragile components. If the components being potted are heat sensitive, it's crucial to use a potting compound that either emits little heat during curing or dissipates heat quickly, such as a thermally conductive potting compound. The second risk is that the potting compound's shrinkage during curing may harm sensitive components or solder bonding. Choose a potting compound that shrinks less or is more flexible to avoid this.
ELECTRONIC POTTING AND ENCAPSULATING MARKET REGIONAL INSIGHTS
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"Industrial Expansion to Foster Market Growth in Asia Pacific "
Asia Pacific is projected to dominate the electronic potting and encapsulating market share. Potting compounds are being used more frequently in electronics and electrical applications in countries across this area, including China, India, Japan, South Korea, and Malaysia. This increase is mostly attributable to rising demand from Asia-consumer Pacific's electronics and transportation industries. Furthermore, Asia-rapid Pacific's industrial expansion is driving up demand for potting compounds in electronics and electrical applications. In this region, China is the most important market for encapsulants. Encapsulant demand is predicted to rise in China and India over the forecast period, owing to rising demand for electronic devices in end-use sectors such as automotive and medical.
KEY INDUSTRY PLAYERS
"Incorporation of Strategies for Increasing Product's Adoption to Help Companies Grow"
The leading players in the global electronic potting and encapsulating market who have a significant impact on market profitability are assessed based on their product and service revenue, sales, business plans, innovations, and growth rate. Market events or market happenings, new product launches, mergers and acquisitions, benchmarking, regional expansions, and technical advancements all influence a company's final place in the market.
INDUSTRY DEVELOPMENT-
Electrolube announced the success of its ER2221 resin, which is used to protect EV batteries in India's most popular two-wheeler vehicles, in May 2020. The product introduction was carried out in order to aid their Indian customers with thermal management difficulties.
List of Market Players Profiled
- Henkel (Germany)
- Dow Corning (U.S.)
- Hitachi Chemical (Japan)
- LORD Corporation (U.S.)
- Huntsman Corporation (U.S.)
- ITW Engineered Polymers (U.S.)
- 3M (U.S.)
- H.B. Fuller (U.S.)
- John C. Dolph (U.S.)
- Master Bond (U.S.)
- ACC Silicones (U.K.)
- Epic Resins (U.S.)
- Plasma Ruggedized Solutions (U.S.)
REPORT COVERAGE
The reports give significant insights into market growth, revenue, and market trends, and market scope. The research includes information on the global window sensors market's major drivers, restraints, and opportunities, and full impact analysis. It comprehensively discusses the impact of COVID-19 and the driving and restraining factors in electronic potting and encapsulating.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1855.8 Million in 2021 |
Market Size Value By |
US$ 3331.6 Million by 2031 |
Growth Rate |
CAGR of 8.7% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type, Application & Region |
Frequently Asked Questions
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What CAGR is the electronic potting and encapsulating market expected to exhibit by 2031?
The electronic potting and encapsulating market exhibits a CAGR of 8.7% during the forecast period 2024-2031.
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Which are the driving factors of the electronic potting and encapsulating market?
Increasing demand for technologically advanced systems and increasing adoption of alternative compounds are the driving factors of this electronic potting and encapsulating market.
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What are the leading segments of the electronic potting and encapsulating market?
By type, the electronic potting and encapsulating market is segmented into Silicones, Epoxy, Polyurethane, and Others. Based on applications, the market is classified into Consumer Electronics, Automotive, Medical, Telecommunications, and Others.
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Which are the top companies operating in the electronic potting and encapsulating market?
Henkel, Dow Corning, Hitachi Chemical, LORD Corporation, Huntsman Corporation, ITW Engineered Polymers, 3M, H.B. Fuller, John C. Dolph, Master Bond, ACC Silicones, Epic Resins, Plasma Ruggedized Solutions are the top companies operating in the electronic potting and encapsulating market.
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How big is the electronic potting and encapsulating market expected to exhibit by 2031?
The global electronic potting and encapsulating market size was USD 1855.8 million in 2021 and is projected to touch USD 4278.99 million by 2031, exhibiting a CAGR of 8.7% during the forecast period.