Global Encapsulation Resins Market Insights Forecasts to 2033

• The Global Encapsulation Resins Market Size was Estimated at USD 4.25 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 2.74% from 2023 to 2033
• The Worldwide Encapsulation Resins Market Size is Expected to Reach USD 5.57 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Encapsulation Resins Market Size is anticipated to exceed USD 5.57 Billion by 2033, Growing at a CAGR of 2.74% from 2023 to 2033. The increasing consumer electronics demand and expanding automotive sector are driving the market growth for encapsulation resins.

Market Overview

The encapsulation resins market refers to the market for resins that are used to encapsulate electronic components and other products to protect the components and devices. Encapsulation resins are made to shield and insulate a variety of electrical, electronic, automotive, and building and construction components and equipment from the threats of difficult and harsh environmental conditions including moisture, vibration, thermal or physical shock, and general contamination. For electric vehicles, encapsulation resins offer numerous benefits such as improved thermal endurance, improved heat distribution through thermal conductivity, and reduction in costly repair and maintenance. Further, the restrictions governing VOC emission and environmental concerns lead to the surging demand for encapsulation resins in the automotive industry. The protection of electronic devices and components is aided by encapsulation resins as these polymers help electrical components operate better and shield them from a hostile environment. 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.

Report Coverage

This research report categorizes the encapsulation resins market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the encapsulation resins market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the encapsulation resins market.

Driving Factors

The growing consumer electronics demand and expanding automotive sector are significantly promoting the encapsulation resins market. The increasing popularity of E-mobility in which electronic components need to be protected to enhance the dependability and long-term performance in EVs is driving the market demand for encapsulation resins.

Restraining Factors

The availability of alternative products, increased cost of encapsulation resins production, and limited adoption in underdeveloped countries are challenging the encapsulation resins market.

Market Segmentation

The encapsulation resins market share is classified into product type, application, and end-use.

• The epoxy resins segment dominates the market with the largest market share and is expected to grow at a significant CAGR during the forecast period.

Based on the product type, the encapsulation resins market is classified into epoxy resins, silicone resins, polyurethane resins, and others. Among these, the epoxy resins segment dominates the market with the largest market share and is expected to grow at a significant CAGR during the forecast period. Many manufacturers prefer epoxy encapsulants as they are more dependable and stronger, offering a robust outer shell and epoxy chemistries improve overall adherence. The widespread application of epoxy resins owing to their characteristics such as low shrinkage after curing, toughness, exceptional chemical resistance, and hardness is driving the market expansion.

• The sensors segment is dominating the global encapsulation resins market during the forecast period.

Based on the application, the encapsulation resins market is classified into transformers, sensors, switchgears, insulator, capacitors, relays & coils, adhesives & sealants, and others. Among these, the sensors segment is dominating the global encapsulation resins market during the forecast period. Encapsulation resins are widely utilized to protect and enhance the performance of various sensor types. Resistance temperature detectors (RTDs) and thermocouples are examples of temperature sensors commonly encapsulated in resin materials.  

• The electrical & electronics segment is expected to dominate the global encapsulation resins market during the forecast period.

Based on the end-use, the encapsulation resins market is classified into building & construction, automotive, transportation, electrical & electronics, marine, and others. Among these, the electrical & electronics segment is expected to dominate the global encapsulation resins market during the forecast period. Encapsulation resins aid in safeguarding and protecting components from external threats such as vibration, general contamination, moisture, and thermal or physical shock by filling cavities and reinforcing them, to make them resistant to mechanical stresses.

Regional Segment Analysis of the Encapsulation Resins Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the encapsulation resins market over the predicted timeframe.

North America is anticipated to hold the largest share of the encapsulation resins market over the predicted timeframe. The expanding marine and construction industries in the region are responsible for driving the market for encapsulation resins. Further, the growing 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.

Asia Pacific is expected to grow at the fastest CAGR growth of the encapsulation resins market during the forecast period. 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. Further, the region’s growing need for encapsulating resins due to the growing use of these materials in the automotive, aerospace, and building and construction industries is propelling the regional market. 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the encapsulation resins market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• 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 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, By 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 the Middle East & Africa