Global Encapsulation Resins Market Size To Worth USD 5.57 Billion By 2033 | CAGR of 2.74%
Category: Chemicals & MaterialsGlobal Encapsulation Resins Market Size To Worth USD 5.57 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Encapsulation Resins Market Size is Expected to Grow from USD 4.27 Billion in 2023 to USD 5.57 Billion by 2033, at a CAGR of 2.74% during the forecast period 2023-2033.
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Browse key industry insights spread across 246 pages with 110 Market data tables and figures & charts from the report on the "Global Encapsulation Resins Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Epoxy Resins, Silicone Resins, Polyurethane Resins, and Others), By Application (Transformers, Sensors, Switchgears, Insulator, Capacitors, Relays & Coils, Adhesives & Sealants, and Others), By End-Use (Building & Construction, Automotive, Transportation, Electrical & Electronics, Marine, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/encapsulation-resins-market
Encapsulation resins market refers to the market for resins used for encapsulating electronic components and other products to protect them from threats of difficult and harsh environmental conditions such as moisture, vibration, thermal or physical shock, and general contamination. They are designed to shield and insulate a variety of electrical, electronic, automotive, and building & construction components and equipment. The growing use of encapsulation resin to control drug delivery due to its capacity to bind with peptides, proteins, and DNA/RNA molecules is creating a lucrative market growth opportunity. The increasing consumer electronics demand and expanding automotive sector are significantly driving the encapsulation resins market. Further, the popularity of E-mobility is driving the market demand for encapsulation resins. On the contrary, the availability of alternative products, the increased cost of encapsulation resin production, and its limited adoption are the factors challenging the market growth.
The epoxy resins segment holds the largest market share and is expected to grow at a significant CAGR during the forecast period.
Based on the product type, the global encapsulation resins market is divided into epoxy resins, silicone resins, polyurethane resins, and others. Among these, the epoxy resins segment holds the largest market share and is expected to grow at a significant CAGR during the forecast period. Epoxy encapsulation resins are preferred by many manufacturers as they are more reliable and stronger. The extensive use of epoxy resins owing to their qualities including toughness, remarkable chemical resistance, and hardness is driving the market expansion.
The sensors segment is anticipated to dominate the market with the largest market share during the forecast period.
Based on the application, the global encapsulation resins market is divided into transformers, sensors, switchgears, insulator, capacitors, relays & coils, adhesives & sealants, and others. Among these, the sensors segment is anticipated to dominate the market with the largest market share during the forecast period. Resistance temperature detectors (RTDs) and thermocouples are examples of temperature sensors commonly encapsulated in resin materials. The widespread use of encapsulation resins for protecting and enhancing the performance of various sensor types is driving the market expansion.
The electrical & electronics segment held the largest revenue share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the end-use, the global encapsulation resins market is divided into building & construction, automotive, transportation, electrical & electronics, marine, and others. Among these, the electrical & electronics segment held the largest revenue share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. Encapsulation resins help to safeguard and protect components from external threats including vibration, general contamination, moisture, and thermal or physical shock by filling cavities and reinforcing them to make them resistant to mechanical stresses.
North America is projected to hold the largest share of the global encapsulation resins market over the forecast period.
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North America is projected to hold the largest share of the global encapsulation resins market over the forecast period. The increasing electronic equipment market with the presence of electrical and electronics companies in the region is propelling the market. Further, the increasing complexity and miniaturization of electronic devices is contributing to propel the encapsulation resins market. In addition, the expanding marine and construction industries in the region are responsible for driving the market.
Asia Pacific is predicted to grow at the fastest CAGR in the encapsulation resins market over the forecast period. The region’s increasing demand for encapsulating resins owing to the growing usage of these materials in the automotive, aerospace, and building and construction industries is propelling the regional market. Further, the increasing need for encapsulating resins in various electronic applications such as transformers, cables, printed circuits, and sensor assemblies is driving the encapsulation resins market.
Major key players in the encapsulation resins market include Aremco, Dow, Hitachi Chemical Co., Henkel AG & Co. KGaA, BASF SE, B. Fuller Company, Huntsman International LLC, Master Bond Inc., ELANTAS GmbH, Shin-Etsu Chemical Co., MG Chemicals, Dymax Corporation, Robnor ResinLab Ltd., LORD Corporation, RBC Industries, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In October 2021, Huntsman International LLC developed a new epoxy encapsulation and impregnation substance that serves as a trustworthy insulator for electric drives.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global encapsulation resins market based on the below-mentioned segments:
Global Encapsulation Resins Market, By Product Type
- Epoxy Resins
- Silicone Resins
- Polyurethane Resins
- Others
Global Encapsulation Resins Market, By Application
- Transformers
- Sensors
- Switchgears
- Insulator
- Capacitors
- Relays & Coils
- Adhesives & Sealants
- Others
Global Encapsulation Resins Market, By End-use
- Building & Construction
- Automotive
- Transportation
- Electrical & Electronics
- Marine
- Others
Global Encapsulation Resins Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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