Silicone Potting Compounds Market worth USD 1,247.2 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Silicone Potting Compounds Market by Curing Techniques (UV Curing, Thermal Curing, and Room Temperature Curing), by End-Users (Electronics, Aerospace, Automotive, Industrial, and Others (Optical, Solar Power, and Marine)), by Application (Surface Mount Packages, Memory Devices & Microprocessors, Beam Bonded Components, Capacitors, Transformers, Industrial Magnets, Solenoids, Cable Joints, and Others (Rectifier and Motors)), by Region - Global Share and Forecast to 2027". During the projected period, the worldwide silicone potting compounds market is predicted to increase at a CAGR of 4.0%, from USD 949.2 million in 2020 to USD 1,247.2 million in 2027.

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An increase in government spending in the aerospace sector for commercial, industrial, and military applications and a rise in demand for the airline industry due to wealth creation in Asia and the Middle East are anticipated to drive the growth of several industries, including aerospace, automobile, electronics, and others. Therefore, the rise in the application of silicone potting compounds in these industries, such as aerospace, as flame retardants, weather guards, shock absorbers, and others, propels the growth of silicone potting compounds market.

Global Silicone Potting Compounds Market Segmentation

The silicone potting compounds market has been segmented into the curing techniques, end-users, application, and region.

By Curing Techniques (UV Curing, Thermal Curing, and Room Temperature Curing)
By End-Users (Electronics, Aerospace, Automotive, Industrial, and Others (Optical, Solar Power, and Marine))
By Application (Surface Mount Packages, Memory Devices & Microprocessors, Beam Bonded Components, Capacitors, Transformers, Industrial Magnets, Solenoids, Cable Joints, and Others (Rectifier and Motors))
By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)
Surface-mount packages, by application, is estimated to hold the largest market share during the forecast period

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Based on application, the global silicon potting compounds market is segmented into surface-mount packages, memory devices & microprocessors, beam bonded components, capacitors, transformers, industrial magnets, solenoids, cable joints, and others (rectifier and motors). In 2020, surface mount packages had a market share of 30.9%, accounting for the largest market share 2020. The surface-mount package involves directly mounting the surface of electrical components onto the printed circuit board (PCB). Some of the widely used surface mount packages include resistors and inductors. In silicon potting, a liquid layer is poured into the pot, covering the device completely.

Silicon potting compounds are adaptable to high temperatures, up to 300-degree centigrade, and consist of transformation temperatures of -40 degrees centigrade, making them suitable for surface mounting applications. In addition, some silicon potting compounds such as 921-GEL and 921-VT can be cured in a few moments and are resistant to solvents; thus, widely used for surface mounting applications. However, the high cost of such potting compounds and the availability of low-cost materials may hamper the market growth. For instance, as a substitute for silicon potting, polyurethanes can be formulated as soft as silicone gels and provide high strength and abrasion resistance like silicon potting compounds at a lower cost.

The Asia Pacific accounts for the largest market share in silicone potting compounds market 2020

Based on the regions, the global silicone potting compounds market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia-Pacific accounted for the maximum share in the global silicon potting compounds market, owing to the presence of the large number of manufacturers in the electrical and electronics sector. China being a prominent exporter of consumer electronics products in large volume will positively fuel the growth of the silicon potting market in the Asia-Pacific region.

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China is a major manufacturer of consumer electronics compounds and contributes around two-thirds of the world's lithium-ion battery market. The growing demand for silicon potting in the electric vehicle industry is expected to drive market growth. The silicon potting compounds are widely used in these lithium-ion battery packs for electric vehicles, providing superior adhesion, thermal stability, and good chemical resistance. Furthermore, significant export volume from China in the global electronics market will positively influence the market growth.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the silicone potting compounds market. Some of the major players in the global market of silicone potting compounds are Suez Environmental Services, Enevo, IBM Corporation, Waste Management, Inc., Smart bin (OnePlus Systems Inc.), Veolia Environmental Services, Bigbelly Inc., BIN-e, Evoeco, Ecube Labs Co Ltd., Covanta Holding Corporation, Pepperl+Fuchs GmbH, Republic Services, Sensoneo, and Evreka among others.

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