Potting Compounds Market Demand, Size, Outlook, Forecast 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Potting Compounds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the The global potting compound market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
How big is the Potting compounds market?
|Market Size in 2022||US$ 3.2 Billion|
|Market Forecast in 2028||US$ 4.1 Billion|
|Growth rate (2023 to 2028)||CAGR of 4.2%|
|Base Year of the Analysis||2022|
What are Potting compounds?
Potting compounds refer to liquid resins that flow over a circuit board to protect the electronic components against heat, vibration, moisture, impact, and environmental factors. They comprise polyurethane, epoxy, and silicone to provide high adhesion to electronic products. Potting compounds offer increased chemical protection in complex assemblies, prevent short circuits, and provide mechanical shock and vibration resistance in harsh environmental conditions. They also deliver high-temperature resistance while controlling the cracking or yellowing of electronic devices by ultraviolet (UV) radiation. As a result, potting compounds find widespread applications across various sectors, such as electronics, aerospace, automotive, power, and industrial.
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Trends and Drivers:
The escalating product need in the electrical and electronics industry to protect items from moisture and shock is primarily driving the potting compounds market. In addition, the growing miniaturization of electronic components to develop small portable and handheld computer devices is further augmenting the market growth. Moreover, the rising awareness among the masses toward the benefits of using potting compounds to produce high viscosity, semi-rigid, and flexible composition elements is also catalyzing the global market.
Apart from this, the emerging trend of vehicle electrification in the transportation sector to reduce greenhouse gas emissions and the expanding automotive industry are acting as significant growth-inducing factors. Additionally, the inflating demand for semiconductors, capacitors, transformers, and solenoids across the globe is also stimulating the market growth. Furthermore, the increasing integration of electronic systems in vehicles, including navigation, infotainment, and advanced driver-assistance systems (ADAS), is anticipated to propel the potting compound market over the forecasted period.
Potting Compounds Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 3M Company
- Aremco Products Inc.
- DuPont de Nemours Inc.
- Dymax Corporation
- EFI Polymers
- Electrolube (Element Solutions Inc)
- Henkel AG & Co. KGaA
- Huntsman International LLC (Huntsman Corporation)
- LORD Corporation (Parker Hannifin Corporation)
- Master Bond Inc.
- MG Chemicals
- RBC Industries Inc and WEVO-CHEMIE GmbH.
Breakup by Resin Type:
Breakup by Curing Technology:
- UV Curing
- Thermal Curing
- Room Temperature Curing
Breakup by End User:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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