Global Potting Compound Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa, UAE, Kuwait), Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4462
Potting Compound Market size is likely to increase due to growing trend of vehicle electrification in the transportation sector. Automobile industry is focusing on utilizing lightweight, small & inexpensive electronic components within the vehicle system to ensure lower cost and optimum space utilization. This trend is likely to boost product demand in the upcoming years. Potting process involves incorporating solid compounds or gel in the electronic assembly to provide electrical insulation and for protecting electronic devices from moisture. Rising vehicle demand across the world is likely to create potting compound market demand in the near future.
Growth in consumer electronics sector in the Asia Pacific is also likely to propel product demand in the coming years. China is the world’s largest manufacturer of electronics product which accounts for more than 35% of the world production. Rising demand for the consumer electronics products will further create an opportunity for specialty compound in the near future. Rising use of product in the electronic applications such as, automotive electronics, sensors, safety devices, actuators, power supplies, transformers, etc. are responsible for the growth of the industry.
On the basis of product, the industry has been categorized into epoxy, silicon, polyurethane, UV curing materials and others. Other compounds include hot melt, unsaturated polyester resin, etc. Epoxies are likely to have significant share of overall industry throughout the study period. These products are available in several forms including one & two component, thermally conductive, water clear, flame retardant, etc. in the commercial market. These products possess superior chemical resistant property and offers excellent adhesion & strength to porous and metal structure. Polyurethane products are available in a wide range of hardness and can be operated at temperature up to 130ºC. This product is ideal for potting applications of printed circuit board with surface mount technology (SMT).
Based on the application, the industry has been categorized into automotive & aerospace, consumer electronics, power electronics, industrial and solar. Automotive & aerospace industry is likely to be key application segment as the product is extensively utilized in the variety of electronics applications. Automotive manufacturers requires a range of potting and encapsulation compounds for protecting the vehicle systems that includes, cable harness potting, LED protection, contact lubricants, components, EV motors, batteries, etc. Similarly, aerospace industry utilizes product for aircraft interior for providing strength to assemblies, protect devices from exposure to chemical, corrosion, moisture, etc. Growth in automotive & aerospace industry is likely to increase the product usage in automotive & aerospace electronics components. Further, growing trend of using lightweight materials in the automotive & aerospace industry will increase product demand in near future.
Asia Pacific is likely to have significant share of potting compound market throughout the forecast time period. Growing number of vehicles in the major countries along with growing electronics industry are responsible for the region’s growth. Electronic industry utilizes potting compound for protection of devices such as, connectors, motors, switches, ignition coils, capacitors, electronic modules, transformers, rectifiers, sensors, cable harness assemblies, etc. North America will also be a key region in the coming years due to growing consumption of electronic products and increasing number of vehicles in the U.S. For instance, the U.S. has reported an increase in the number of vehicle in 2018 reaching to a value of more than 17.7 million units compared to previous year.
Some of the key players in market includes, Henkel, MG Chemicals, Altana, Electrolube, RS Components, 3M, Solvay, Lord Corporation, Engineered Materials Systems, Inc., Dymax Corporation, DuPont and ACC Silicones. These players are expanding their presence in the market through variety of strategies such as product launch, business expansion, acquisition, etc. For instance, Meridian Adhesives Group completed acquisition of Epoxies, Etc., a leading manufacturer of specialty potting compounds, adhesives and coatings in 2019 to ensure rapid growth in focused markets.
Potting Compound Market, By Product, 2014-2025 (USD Million)
- Polyurethane potting compounds
- UV curing materials
Potting Compound Market, By End-user industry, 2014-2025 (USD Million)
- Automotive & aerospace
- Consumer electronics
- Power electronics
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Henkel, MG Chemicals
- RS Components
- Lord Corporation
- Engineered Materials Systems, Inc.
- Dymax Corporation
- ACC Silicones
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