Potting Compound Market Size Expected to Fly High with Increased Demand

According to a report by Allied Market Research, the global potting compound industry generated $3.1 billion in 2019 and is projected to reach $4.1 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 3.9% from 2020 to 2027. The report analyzes changing market trends, key investment areas, winning strategies, top segments, and competitive scenarios.

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Factors such as the rise of the consumer electronics industry, the trend toward miniaturization, and the suitability of potting compounds for electronic applications are driving market growth. However, inappropriate selection of potting resins is hindering market expansion. Conversely, the adoption of two-component polyurethane potting compounds presents new opportunities in the coming years.

The COVID-19 pandemic has significantly impacted the market, with lockdowns halting manufacturing activities and causing shortages of raw materials. Despite increased demand from the healthcare sector, disruptions in the supply chain have made it difficult for healthcare facilities to procure electronic components. Supply chain disruptions have also affected the construction sector, leading to a scarcity of electronic components and halting construction activities.

The report provides detailed segmentation of the global potting compound market based on resin type, curing technology, application, end-user, and region. In terms of resin type, the silicone segment held the largest market share in 2019 and is expected to maintain its dominance throughout the forecast period. However, the polyester segment is projected to grow at the highest CAGR of 4.4% from 2020 to 2027.

In terms of application, the electrical segment accounted for the highest market share in 2019 and is expected to continue its dominance by 2027. Meanwhile, the electronic segment is forecasted to grow at the largest CAGR of 4.5% during the forecast period.

Geographically, Asia-Pacific held the largest share of the global potting compound market in 2019 and is expected to maintain its lead throughout the forecast period. Moreover, the Asia-Pacific region is projected to grow at the fastest CAGR of 4.8% from 2020 to 2027. The report also covers regions such as North America, Europe, and LAMEA.

Key players in the global potting compound market include Altana AG, Dow Inc., Aremco Products Inc., Henkel AG & Co. KGaA, Dymax Corporation, Huntsman International LLC, Hitachi Chemical Co. Ltd., Master Bond Inc., Lord Corporation, RBC Industries Inc., MG Chemicals, Wacker Chemie AG, Shanghai SEPNA Chemical Technology Co. Ltd., Wevo-Chemie GmbH, and 3M.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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