Potting Compound Market Size Forecast to Reach $3.65 Billion by 2025

Potting Compound Market size is forecast to reach $3.65 billion by 2025, after growing at a CAGR of 3.68% during 2020-2025. The potting compound is used to insulate a device electrically, and to secure it from moisture. The potting process can be done either manually or using automated meter-mix-dispensing (MMD) devices. In general, gels of silicone rubber and epoxy are used to protect the unit. The potting compound has vibration resistance, flame retardance, or heat dissipation properties. These features of the potting compound are best suited for use in the electronics industry. Rising miniaturization of electronic devices and growing demand from the consumer electronics industry are the driving forces for this sector owing to which the potting compound industry will accelerate in the forecast era.

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By Type - Segment Analysis

Epoxy is widely used in Potting Compound Market. The most commonly used potting compound is epoxy resins. Generally, this compound has greater adhesion, high-temperature tolerance & chemical resistance, higher stiffness, modulus & tensile strength, and very good resistance to moisture, which makes it an excellent outdoor application choice. Epoxies have excellent dielectric properties and are used extensively in potting transformers and switches. The main thermosetting plastics are epoxy resin which has been commonly used for the application of electronics, as they are typically rigid, durable, and exhibit low cure shrinkage. Due to these properties, Epoxy is anticipated to boost the market in the forecast period.

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By Application - Segment Analysis

Electronics and Electrical segment held the largest share in the Potting compound Market. Potting compounds are used to shield equipment, materials, and devices from insulation and concealment. They are formulated to meet the requirements of many demanding applications in the electronics sector such as consumer electronics, transportation, aviation, marine, energy & power, solar power, and others. Also, potting protects the circuit board, semiconductor, and other electronic components from environmental hazards such as mechanical, chemical, electrical, and thermal stress. Also, potting offers superb printed circuit boards and electrical device protection. Due to which the demand for potting compounds is anticipated to rise in the forecast period.

By End Use – Segment Analysis

The electronics industry held the largest share in the Potting Compound Market in 2019 and is projected to grow at a CAGR of 4.29% during the forecast period 2020-2025. The increasing digitization of our world is based on the increasing prevalence of high-performance electronics and the latest sensor systems. This demands more effective protection for these sensitive electronic components and sensors from a range of environmental influences. Potting in electronic applications is done to reduce internal stress, achieve excellent dielectric properties, electrical insulation, thermal conductivity, thermal shock resistance, mechanical strength, adhesion, hardness, cure speed, and chemical resistance. Owing to which the market will see massive growth in the forecast period.

Geography - Segment Analysis

Asia Pacific held the largest share with 42.65% in Potting Compound Market in 2019. Countries in this region such as China, India, Japan, South Korea, and Malaysia are witnessing a significant increase in the use of potting compounds in electronics & electrical applications. This growth is mainly due to the growing demand from the Asia-Pacific consumer electronics and transportation industries. Also, rapid industrial development in Asia-Pacific is vigorously pushing demand in electronics and electrical applications for potting compounding. According to the India Brand Equity Foundation, the Electronics and Computer Software Promotion Council (ESC) was formed to provide a platform for India's IT & electronics industry. ESC has successfully steered the course of India's exports of electronics and software, with exports to over 200 countries. Also, according to the International Energy Administration, China's electronics industry has played a major role in driving the growth of national GDP. It is the world's largest generating electronics ecosystem and supply chain, with more than five times the Japanese electronics suppliers and manufacturing workforce workers close to 150 million.

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Drivers – Potting Compound Market

The growing need for potting in the aerospace industry

Potting compounds are available in a broad range of chemistries that enable their use with different substrates, over a range of operating temperatures, and to provide maximum performance under different environmental conditions. Potting compounds are preferred in aerospace as it enhances mechanical strength and provides vibration and shock insulation and resistance. Also, potting compounds prevent corrosion from moisture, thermal cycling, dust, and chemicals. Also, epoxy, silicone, polyurethane, polysulfide, and UV cure system is available to meet specific aerospace requirements such as low coefficient of thermal expansion, low stress, cryogenic serviceability, ultra-low moisture absorption, special flow properties, high glass transition temperature, and low outgassing and high purity. Owing to these properties the use of the potting compound is widely used in applications of aerospace leading towards the growth of the potting compound market in the forecast period.

Challenges – Potting Compound Market

Effects of heat generation to potting compounds

Growing demand for ever-increasing output rates at lower unit costs, ensuring that electronic circuits work as expected over an extended period is becoming increasingly difficult. Delicate materials, heavily packed printed circuit boards (PCBs), confining packaging, and highly stressful service conditions have the potential to contribute to higher failure rates due to excessive heat build-up and electrical interference. Electronic designs are smaller in size and provide more power which requires higher temperatures to operate. To maintain a long service life and high reliability, they must be able to efficiently dissipate the heat. The heat from the curing reaction causes fragile components to be fried. Also, a printed circuit board has components that, when potted, produce large levels of heat causing problems. Hence, heat generation problems in PCBs and other electronic circuits will further create hurdles for the potting compounds market in the forecast period.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Potting Compound Market. Major players in the Potting Compound Market are ACC Silicones Ltd., Dymax Corporation, Elantas Beck India Ltd., Intertronics, Epic Resins, Electrolube, EFI Polymers, MG Chemicals, Master Bond Inc., Henkel AG & Co. KGaA among others.

Key Takeaways

The Asia Pacific dominates the Potting Compound Market due to the increasing use and demand of electronics and its devices in this region.

Increasing adoption of the potting compound in various electronics applications such as beam bonded components, microprocessors, and memory devices, surface mount package, and high-power devices are the factors estimated to drive the growth of the market in the forecast period.

The effect of COVID-19 has a direct impact on the technology industry, impacting the supply of raw materials, upsetting the value chain of electronics, and triggering commodity inflation risks. More positively, the disruption has led to an acceleration of remote work and a rapid focus on the end-to-end value chain being evaluated and de-risked.

Related Reports :

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https://www.industryarc.com/Report/16463/epoxy-resin-market.html

B. MDI, TDI, and Polyurethane Market
https://www.industryarc.com/Research/Mdi,-Tdi,-And-Polyurethane-Market-Research-500263

For more Chemicals and Materials Market reports @ https://www.industryarc.com/Domain/4/chemicals-materials-market-research.html

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