(EnergyIndustry.Net, February 06, 2020 ) The report "Potting Compound Market by Type (Epoxy Resin, Polyurethane Resin, Silicone Resin, Polyester System, and Polyamide) by Application (Electrical and Electronics) and by Region Global Trends & Forecast to 2021", is projected to reach USD 3.13 Billion by 2021, registering a CAGR of 3.7% during the forecast period. This growth is fueled by high demand from electronics & electrical industry, increasing global demand for miniaturization of electronics devices, and increased spending by end-use industries.
Epoxy Resins: The largest type of potting compound
Epoxy resins are the most-widely used potting compound. These compounds generally have better adhesion, high temperature resistance & chemical resistance, higher rigidity, modulus & tensile strength, and very good moisture resistance. This makes it an excellent option for outdoor applications. Epoxies have excellent dielectric properties and are used extensively in potting transformers and switches. Epoxy resins have been widely used for the electronics application as they are generally hard, tough, and exhibit low shrinkage on cure.
Electronics: The largest application for potting compound
The electronics sector is the largest application for potting compound globally. Potting compounds are used to protect, insulate, and conceal circuitry, components, and devices. They are formulated to meet the requirements of many demanding applications in the electronics and electrical sector such as consumer electronics, transportation, aviation, marine, energy & power, solar power, and others. Potting in both electronic and electrical applications are done to reduce internal stress, achieve excellent dielectric properties, electrical insulation, thermal conductivity, thermal shock resistance, mechanical strength, adhesion, hardness, cure speed, and chemical resistance.
Browse in-depth TOC on "Potting Compound Market” 258 - Market Data Tables 49 - Figures 280 - Pages
Asia-Pacific: The largest market for potting compound
Asia-Pacific is the global forerunner in the potting compound market, in terms of value and volume, and the trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, and Malaysia are witnessing significant increase in the use of potting compounds in electronics & electrical applications. This growth is mainly due to the increasing demand from consumer electronics and transportation industry in Asia-Pacific. Further, rapid industrial development in Asia-Pacific is vigorously pushing the demand for potting compound in electronics and electrical applications. Malaysia, Indonesia, Singapore, and India are the fastest-growing markets in the region and are expected to follow a similar trend till 2021.
The potting compound market has a few numbers of global players competing significantly for their market share. These market players are actively investing in various strategies such as new product developments and expansion projects to increase their market share. Also, companies are investing heavily on R&D activities. Major players such as ACC Silicones Ltd. (U.K.), Dymax Corporation (U.S.), EFI Polymers (U.S.), Elantas Beck India Ltd. (India), Electrolube (U.K.), Epic Resins (U.S.), Intertronics (U.K.), Master Bond Inc. (U.S.), MG Chemicals (Canada), and Henkel AG & Co. KGaA (Germany) have adopted various organic developmental strategies.
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