Encapsulants Market by Chemistry (Epoxy, Silicone, Urethane), Curing Type (Room Temperature, Heat Temperature, UV), End-Use Industry (Consumer Electronics, Transportation, Medical, Energy & Power), and Region - Global Forecast to 2022
“The encapsulants market is projected to grow at a CAGR of 5.5% from 2017 to 2022”
The encapsulants market is estimated to be USD 1.26 billion in 2017 and is projected to reach USD 1.64 billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Increased demand for encapsulants from consumer electronics, transportation, medical, and energy & power end-use industries is expected to drive the encapsulants market across the globe. Encapsulants are one of the most widely used protective materials in electronics. They are also used as protective materials to completely embed electronic circuitry. Volatility in raw material prices may restrain the industry during the forecast period.
“The consumer electronics segment is expected to be the largest end-use industry segment during the forecast period”
Based on end-use industry, the consumer electronics segment is expected to be the largest end-use industry segment of the encapsulants market during the forecast period, in terms of value. The rapidly growing semiconductor & electronics industry and the increasing demand for smart electronic gadgets are the major factors fueling the demand for encapsulants in this industry. The trend of miniaturization and increasing multi-functionality of electronic devices have increased the number of components and risks associated with short-circuiting. These have necessitated the use of encapsulants in electronic devices.
“The room temperature curing type segment is projected to grow at the highest CAGR during the forecast period”
Based on curing type, the room temperature segment of the encapsulants market is projected to grow at the highest CAGR from 2017 to 2022. Room temperature curing systems offer easy processing, high reliability, and are low cost.
“The Asia Pacific encapsulants market is projected to grow at the highest CAGR during the forecast period”
The growth of the Asia Pacific encapsulants market can be attributed to the rapidly increasing demand from end-use industries, such as consumer electronics, transportation, medical devices, and energy & power. The demand for encapsulants is expected to increase in this region due to the growing demand for consumer electronic products & components used in transportation and technological innovation that will create opportunities for encapsulants as an ideal material.
Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews has been given below.
• By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Tier 3 – 13%
• By Designation: C Level – 46%, Director Level – 31%, and Others – 23%
• By Region: North America – 33%, Europe – 28%, Asia Pacific – 22%, Middle East & Africa - 6%, and South America – 11%
The major companies profiled in this market research report include Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), and H.B. Fuller (US)
This research report has categorized the encapsulants market on the basis of chemistry, curing type, end-use industry, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the encapsulants market. A detailed analysis of the key players has been done to provide insights on their business overviews, products & services offered, and key strategies, such as investments & expansions and mergers & acquisitions adopted by them to strengthen their position in the encapsulants market.
Reasons to buy the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the encapsulants market and provides the closest approximations of the market sizes for the overall market and its subsegments across different regions.
2. The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report is also expected to help the stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions, contributing to the market. The landscape consists of the top 25 companies ranked and grouped, on the basis of their competency parameters, such as geographical presence, recent strategic developments, patents filed, and the number of employees.