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Global Encapsulation Resins Market: Projected Growth, Key Players, and Emerging Trends
Steady growth in the encapsulation resins market found a catalyst in developments in the electronics industry, automotive sector, renewable energy, and aerospace and defense.
What Is The Projected Market Size Of The Global Encapsulation Resins Market And Its Growth Rate?
• From $4.44 billion in 2024, the market is expected to reach $4.63 billion in 2025, growing at a compound annual growth rate (CAGR) of 4.2%.
• The market will experience robust growth over the next few years, projected to reach $5.69 billion in 2029 at a CAGR of 5.3%.
• Growth factors for the forecast period include the expansion of electric vehicles (EVs), the rise of 5g technology and the Internet of Things (IoT), the growth in medical electronics, and focus on sustainable and eco-friendly formulations.
What Is Driving The Growth In The Encapsulation Resins Market?
The demand for encapsulation resins is propelled by the increasing use of electric vehicles. Encapsulation resins, providing electrical insulation, thermal dissipation, and handling the NVH (Noise, Vibration, and Harshness) level, are essential in electric vehicles. Rising EV sales, which reached 10.5 million in 2022, a 55% rise from 6.73 million in 2021, are expected to further drive the growth of the encapsulation resins market.
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Who Are the Key Players Driving Encapsulation Resins Market Growth?
• Hitachi Chemical Co. Ltd.
• Dow (The Dow Chemical Company)
• 3M Company
• Henkel AG & Co. KGaA
• BASF SE
• Shin-Etsu Chemical Co. Ltd.
• Arkema Group
• Huntsman International LLC
• Givaudan SA
• H.B. Fuller Company
• ELANTAS GmbH
• LORD Corporation
• Momentive Performance Materials Inc.
• Dymax Corporation
• Optics Balzers AG
• Electrolube Ltd.
• Epoxy Technology Inc.
• NAGASE ChemteX Corporation
• Panacol-Elosol GmbH
• RBC Industries Inc.
• Robnor ResinLab Ltd.
• MG Chemicals Ltd.
• Coatema Coating Machinery GmbH
• Master Bond Inc.
• Mereco Technologies Group Inc.
• ACCRAbond Corporation
What Are The Key Trends In The Encapsulation Resins Market?
• Product innovations
• Focus on environmentally friendly resins
• Adoption of UV-curable resins
• Demand for high thermal conductivity resins
• Customization for specific applications
What Are The Segments Of The Global Encapsulation Resins Market?
• By Resin Type: Epoxy Resins, Polyurethane Resins, Silicone Resins, Other Resins
• By Application: Transformers, Sensors, Switchgears, Insulators, Capacitors, Relays And Coils, Adhesives And Sealants, Other Applications
• By End-Use Industry: Building And Construction, Automotive, Transportation, Electrical And Electronics, Marine, Other End-Users
Which Region Leads The Encapsulation Resins Market?
In 2024, North America led the encapsulation resins market. Other regions analysed in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Encapsulation Resins Market Global Market Report?
- Market Size Analysis: Analyze the Encapsulation Resins Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Encapsulation Resins Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Encapsulation Resins Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Encapsulation Resins Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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