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We expect the global silicone potting compounds market to exhibit a CAGR of around 5% during 2021-2026.
The growing adoption of silicone potting compounds in the renewable energy generation sector for providing a wide operating temperature and hardness range, is primarily driving the global silicone potting compounds market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous operation units and delay in R&D activities pertaining to silicone potting compounds.
Based on the curing technique, the global silicone potting compounds market can be segregated into UV curing, thermal curing, and room temperature curing. Among these, thermal curing currently exhibits a clear dominance in the market.
Based on the application, the global silicone potting compounds market has been bifurcated into electricals (capacitors, transformers, cable joints, industrial magnets, solenoids, and others) and electronics (surface mount packages, beam bonded components, memory devices and microprocessors, and others). Currently, electricals hold the largest application 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 silicone potting compounds market include Altana AG, CHT Germany GmbH, Dymax Corporation, Henkel AG & Co. KGaA, Hernon Manufacturing Inc, Master Bond Inc., MG Chemicals, Novagard Solutions, Parker-Hannifin Corp., and The Dow Chemical Company (Dow Inc).
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