Potting Compound Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Potting Compound Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6259
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Market Overview:

The global potting compound market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

Potting compounds are liquid resins that flow over a circuit board to protect the electronic components against moisture, heat, vibration, impact, and environmental factors. They comprise epoxy, polyurethane, and silicone to provide high adhesion to electronic products. They help prevent short circuits, offer increased chemical protection in complex assemblies, and provide mechanical shock and vibration resistance in harsh environmental conditions. In addition, they offer high-temperature resistance while preventing the cracking or yellowing of electronic devices due to ultraviolet (UV) radiation. As a result, potting compounds are widely used in automotive, electronics, aerospace, and power industries across the globe.

Global Potting Compound Market

Potting Compound Market Trends:

At present, there is a rise in the demand for potting compounds in the electrical and electronics industry to protect products from moisture and shock. This, along with the growing miniaturization of electronic components to develop small portable and handheld computer devices, represents one of the key factors driving the market. Besides this, the rising trend of vehicle electrification in the transportation sector to reduce greenhouse gas emissions is contributing to the growth of the market. Additionally, the increasing integration of electronic systems in vehicles, such as navigation, infotainment, and advanced driver-assistance systems (ADAS), is offering lucrative growth opportunities to industry investors. Apart from this, the growing awareness among the masses about the benefits of using potting compounds to produce electronic devices, such as high viscosity and semi-rigid and flexible compositions, is positively influencing the market. Moreover, there is an increase in the demand for electronic devices, such as semiconductors, capacitors, transformers, and solenoids, around the world. This, coupled with the burgeoning electronic industry, is propelling the growth of the market. Furthermore, the rising demand for potting compounds in the aerospace industry is bolstering the growth of the market.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global potting compound market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin type, curing technology and end user.

Breakup by Resin Type:

  • Epoxy
  • Polyurethane
  • Silicone
  • Polyester
  • Polyamide
  • Polyolefin
  • Acrylics
     

Breakup by Curing Technology:

 

 
 

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  • UV Curing
  • Thermal Curing
  • Room Temperature Curing
     

Breakup by End User:

  • Electronics
  • Aerospace
  • Automotive
  • Industrial
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Aremco Products Inc., DuPont de Nemours Inc., Dymax Corporation, EFI Polymers, Electrolube (Element Solutions Inc), Henkel AG & Co. KGaA, Huntsman International LLC (Huntsman Corporation), LORD Corporation (Parker Hannifin Corporation), Master Bond Inc., MG Chemicals, RBC Industries Inc and WEVO-CHEMIE GmbH.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Resin Type, Curing Technology, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 3M Company, Aremco Products Inc., DuPont de Nemours Inc., Dymax Corporation, EFI Polymers, Electrolube (Element Solutions Inc), Henkel AG & Co. KGaA, Huntsman International LLC (Huntsman Corporation), LORD Corporation (Parker Hannifin Corporation), Master Bond Inc., MG Chemicals, RBC Industries Inc and WEVO-CHEMIE GmbH
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Key Questions Answered in This Report

The global potting compound market was valued at US$ 3.2 Billion in 2022.

We expect the global potting compound market to exhibit a CAGR of 4.2% during 2023-2028.

The increasing demand for potting compounds in various sectors, automotive, aerospace, power, etc., as they offer high-temperature resistance while preventing the cracking or yellowing of electronic devices, is primarily driving the global potting compound market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for potting compound.

Based on the resin type, the global potting compound market can be divided into epoxy, polyurethane, silicone, polyester, polyamide, polyolefin, and acrylics. Currently, silicone accounts for the largest market share.

Based on the curing technology, the global potting compound market has been segregated into UV curing, thermal curing, and room temperature curing. Among these, UV curing technology currently holds the majority of the total market share.

Based on the end user, the global potting compound market can be bifurcated into electronics, aerospace, automotive, industrial, and others. Currently, the electronics industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global potting compound market include 3M Company, Aremco Products Inc., DuPont de Nemours Inc., Dymax Corporation, EFI Polymers, Electrolube (Element Solutions Inc), Henkel AG & Co. KGaA, Huntsman International LLC (Huntsman Corporation), LORD Corporation (Parker Hannifin Corporation), Master Bond Inc., MG Chemicals, RBC Industries Inc, and WEVO-CHEMIE GmbH.

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Potting Compound Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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