Silicone Potting Compounds Market projected to show $1,078 Million by 2022 : Electronics application segment expected to grow with highest share value
Silicone Potting Compounds Market Report, published by Allied Market Research, forecast that the global market was valued at $802 million in 2015, and is projected to reach $1,078 million by 2022, registering a CAGR of 4.4% from 2016 to 2022.
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The global silicone potting compounds market is driven by growth in the consumer electronics industry, aerospace, and industrial sectors. In addition, growth in the energy & power sector is anticipated to fuel the demand for silicone potting compounds in the near future. However, selection of a silicone potting compound that addresses the needs of a specific application without affecting the properties of the electronics component is a key challenge for the industry.
The UV curing technique segment accounted for more than half of the global market share, and is expected to maintain its dominance throughout the forecast period. This is mainly attributed to their remarkable properties such as high-speed of curing at low temperatures, cost-effective processing, and others.
Electronics and aerospace application segments dominated the global market with more than two-thirds share in terms of volume, in 2015. Increase in demand for miniaturization of electronic devices across various end use industries such as transportation and consumer electronics is anticipated to drive the silicone potting compounds market during the study period.
Key Findings and Scope:
• In terms of value, the UV curing segment is expected to grow at a CAGR of 4.5% during the forecast period.
• The Asia-Pacific region is projected to maintain its lead position throughout 2022 registering a CAGR of 5.9%, in terms of value.
• The Electronics application segment occupied more than two-fifths share of the total market in 2015.
• China occupied more than half of the Asia-Pacific silicone potting compounds market in 2015.
• China is expected to grow at the highest CAGR of 6.9% in terms of value from 2016 to 2022.
In 2015, Asia-Pacific and North America jointly accounted for two-thirds share of the global silicone potting compounds market, and are expected to maintain this trend during the forecast period due to widespread developments in the electronics sector, especially in China, India, and other developing economies.
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Prominent players have adopted agreements, product launches, expansions, mergers, and agreements strategies to sustain the intense competition in this market. The key players profiled in the report include Henkel AG & Co. KGaA, Dow Corning Corporation, Novagard Solutions, LORD Corporation, ELANTAS GmbH, Master Bond Inc., MG Chemicals, and Dymax Corporation.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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