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Silicone Potting Compounds Market size is projected to reach $1,247.2 million by 2027: Analysis by Curing Technique, Application, End User, Region, Forecast, 2020-2027
Silicone Potting Compounds Market
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Based on region, Asia-Pacific contributed the highest share of the global silicone potting compounds market, holding more than two-fifths of the total share in 2019, and will maintain its lead position during the forecast period. Moreover, this region is expected to register the fastest CAGR of 5.2% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
Silicone Potting Compounds Market share will be driven by increase in demand from industrial and aerospace sectors and growth of the consumer electronics industry. However, limited applications and availability of low-cost substitutes hinder the market growth. On the other hand, increase in application in electric vehicles creates new opportunities in the coming years.
Based on application, the surface mount packages segment held the largest share, holding nearly one-third of the total market share in 2019, and is estimated to maintain the dominance by 2027. However, the solenoids segment is expected to witness the highest CAGR of 5.1% during the forecast period.
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Based on region, Asia-Pacific dominated the market with highest revenue shares of $388.9 million in 2019.
A comprehensive analysis of the factors that drive and restrain the market growth is provided.
The qualitative data in this report aims at the market dynamics, trends, and developments in the industry.
Key findings of the study:
UV curing segment is projected to grow at the highest CAGR of approximately 4.3%, in terms of revenue, during the forecast period.
By application, the surface mount packages segment is expected to dominate the market during the forecast period.
By end user, the electronics segment dominated the market with highest revenue shares in 2019.
Browse Full Summary of This Report: https://www.alliedmarketresearch.com/silicone-potting-compounds-market
The Key Market Players:
1. Henkel AG & Co. KGaA
2. Novagard Solutions
3. Dow Silicon Corporation
4. ELANTAS GmbH
5. LORD Corporation
6. MG Chemicals
7. Master Bond Inc.
8. Dymax Corporation.
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https://www.alliedmarketresearch.com/silicones-market
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