Global PCB Encapsulation Market Insights Forecasts to 2033

• The Global PCB Encapsulation Market Size was Estimated at USD 3.37 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.60% from 2023 to 2033
• The Worldwide PCB Encapsulation Market Size is Expected to Reach USD 7.69 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global PCB Encapsulation Market Size is anticipated to exceed USD 7.69 Billion by 2033, Growing at a CAGR of 8.60% from 2023 to 2033. The growing electronic device complexity and miniaturization along with the surging demand for effective protection is driving the market growth for PCB encapsulation.

Market Overview

The PCB encapsulation market refers to the market focusing on protecting printed circuit boards (PCBs) by enclosing them in protective material, like a resin, to shield them from environmental factors such as moisture, dust, chemicals, and physical shock. PCB encapsulation is the process of covering printed circuit boards (PCBs) to enhance the durability and reliability of electronic components by preventing corrosion and short circuits. It is stronger and thicker than conformal coating, which helps shield the electronic components from various tin whiskers and challenging conditions. The shifting inclination towards EVs, autonomous driving, and connected car technologies in the automotive industry, requires robust protection in their PCBs, thereby escalating the market growth opportunities for PCB encapsulation.    

Report Coverage

This research report categorizes the PCB encapsulation 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 PCB encapsulation 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 PCB encapsulation market.

Driving Factors

The growing demand for protection of printed circuit boards (PCBs) from environmental factors like moisture, dust, and chemicals is driving the PCB encapsulation market. Further, the growing electronic device complexity and miniaturization are significantly driving the market. The evolving semiconductor industry surges the need for advanced, reliable, and resilient electronic components along with the rapid adoption of leading-edge technologies like 5G, artificial intelligence, and autonomous vehicles are propelling the market growth.

Restraining Factors

The increased cost of advanced adhesive materials poses a challenge, particularly to small and medium-scale manufacturers which ultimately restraining the market growth.

Market Segmentation

The PCB encapsulation market share is classified into resin type and curing type.

• The epoxy segment dominated the market with the largest market share in 2023 and is expected to grow at the fastest CAGR during the forecast period.

Based on the resin type, the PCB encapsulation market is classified into epoxy and acrylic. Among these, the epoxy segment dominated the market with the largest market share in 2023 and is expected to grow at the fastest CAGR during the forecast period. Epoxy PCB encapsulation is a technique that employs epoxy resin to shield printed circuit boards (PCBs). Epoxy is a common choice since it adheres well as it is strong and long-lasting.

• The UV-cure segment is expected to hold the largest share and is anticipated to grow at the fastest CAGR through the forecast period.

Based on the curing type, the PCB encapsulation market is classified into UV-cure, heat cure, and room temperature cure. Among these, the UV-cure segment is expected to hold the largest share and is anticipated to grow at the fastest CAGR through the forecast period. UV-curing encapsulation uses ultraviolet light to rapidly cure a resin or coating. The efficiency, performance, and versatility provided by UV-cure type are driving the market growth.

Regional Segment Analysis of the PCB Encapsulation 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)

Asia Pacific is anticipated to hold the largest share of the PCB encapsulation market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the PCB encapsulation market over the predicted timeframe. The growing need for PCBs from consumer electronics, automotive, and industrial applications is driving the market demand. Further, the growing need for electronic devices, automotive electronics, and smart devices along with the rapid industrialization, urbanization, and increasing disposable income in the region is propelling the market growth.

North America is expected to grow at the fastest CAGR growth of the PCB encapsulation market during the forecast period. The growing need for high-performance PCBs from the aerospace and defense sector is propelling the market for PCB encapsulation. Further, the rising need for advanced electronics in the automotive, healthcare, and telecommunication sectors is propelling the market demand for PCB encapsulation.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the PCB encapsulation 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

• Henkel AG & Co. KGaA
• H.B. Fuller Company
• Parker-Hannifin Corporation
• Dow
• DuPont
• Nagase ChemteX Corporation
• Huntsman International LLC
• Wacker Chemie AG
• Shin-Etsu Chemical Co. Ltd.
• Panacol-Elosol GmbH
• Dymax
• Panacol-Elosol GmbH
• Chase Corporation
• MG Chemicals
• Master Bond
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, Henkel announced the commercialization of Loctite Stycast CC 8555, a conformal coating designed to protect electronics in extreme environments. This addition to the company’s conformal coating portfolio delivers printed circuit board (PCB) and sensitive component protection in challenging, high-power applications such as motor drives, PLCs, EV charging infrastructure, AC/DC power supplies, and other high-voltage electronics.

• In March 2024, Henkel, a global leader in adhesives, sealants and functional coatings, and Kraton Corporation, a leading global sustainable producer of biobased products derived from pine wood pulping, announced a multi-year supply partnership.

• In June 2023, H.B. Fuller Company, the largest pureplay adhesives provider in the world, announced that it has completed two strategic acquisitions that would accelerate transformation of the company’s portfolio toward more highly specified applications and enhance diversification of H.B. Fuller’s Construction Adhesives (CA) business.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the PCB encapsulation market based on the below-mentioned segments:

Global PCB Encapsulation Market, By Resin Type

• Epoxy
• Acrylic

Global PCB Encapsulation Market, By Curing Type

• UV-Cure
• Heat Cure
• Room Temperature Cure

Global PCB Encapsulation 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