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Encapsulation resins are the components used to protect and insulate printed circuit boards and electronic components and protect it from moisture, thermal and physical shocks and dust. It also offers offer excellent mechanical protection. It is essential that the inclusion of air during mixing and potting of encapsulation resins is kept to an absolute minimum. The major types of encapsulation resins include epoxy, polyurethane and silicone resin. Polyurethanes are flexibility, variable shore hardness and short pot life. Moreover, epoxy resins are harder materials, offering superior chemical resistance and physical protection to the polyurethane type. Silicone resins are used for high temperature applications and offer excellent protection in extremely harsh conditions
The global market is estimated and forecasted in terms of revenue (USD million) generated by the encapsulation resins market. Encapsulation resins market is primarily driven by rising demand from end user application like military, industrial, domestic and automotive industry and increasing number of potential requirements within the LED electronic products. However, unfavourable factors hindering the growth of encapsulation resins market includes material inconsistency, fluctuation in the prices of raw materials and rising demand for bio-based products.
The report analyses the encapsulation resins market based on resin type, end user industry and geography.
Based on raw resin type the global encapsulation resins market is segmented into epoxy resins, polyurethane resins, silicone resins and others. In 2017, the epoxy resin segment accounted for the largest share in the market and is anticipated to grow at a faster pace during the forecast period. The largest share of the market is primarily attributed to the characteristics offered by the epoxy resin which include good electrical and heat resistance which are the key factors in the electrical & electric industry. Additionally, it also prevents from short circuits, extreme temperature and moisture.
By end user industry, the encapsulation resins market is bifurcated into electronics & electrical, automotive, telecommunication and industrial. The electronics & electrical segment, by end user industry dominated the global encapsulation resins market in 2017 and is expected to witness significant growth over the projected period. Factors such as, increasing demand from the electronic & electrical sector from developed nations of North America and Europe and the growing energy and power sector. Likewise, owing to the high thermal conductivity of encapsulation resins, the market is expected to growth at a considerable rate over the projected period.
By geography, the global encapsulation resins market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. Rest of the world includes Latin America, and Middle East & Africa. In 2017, Asia Pacific dominated the global encapsulation resins market. Asia Pacific accounted for the largest market share in 2017 and is expected to grow at the highest CAGR during the forecast period. The major factor driving the growth of the encapsulation resins market in Asia Pacific is rising investment, rapid industrialization in develop and developing countries like China and India and well-established electronics & electricals industry in the region.
Some of the key participants of the global encapsulation resins market are ACC Silicones Ltd, BASF SE, The Dow Chemical Company, Henkel AG & Co. KGaA, Hitachi Chemical Co., Ltd, Huntsman International LLC, H.B. Fuller Company, Master Bond Inc, Fuji Chemical Industries Co., Ltd, Shin-Etsu Chemical Co. Ltd, etc. The encapsulation resins market players are adopting various strategies like mergers, acquisitions, agreements and new product development to attract and retain the customers globally.
Encapsulation resins are the components used to protect and insulate printed circuit boards and electronic components and protect it from moisture, thermal and physical shocks and dust. It also offers offer excellent mechanical protection. Encapsulation resins market is primarily driven by rising demand from end user application like military, industrial, domestic and automotive industry and increasing number of potential requirements within the LED electronic products. The report analyses the encapsulation resins market based on resin type, end user industry and geography. Based on raw resin type the global encapsulation resins market is segmented into, epoxy resins, polyurethane resins, silicone resins and others. By end user industry, the encapsulation resins market is bifurcated into, electronics & electrical, automotive, telecommunication and industrial. By geography, the global encapsulation resins market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. Rest of the world includes Latin America, and Middle East & Africa. In 2017, Asia Pacific dominated the global encapsulation resins market. Asia Pacific accounted for the largest market share in 2017 and is expected to grow at the highest CAGR during the forecast period. The major factor driving the growth of the encapsulation resins market in Asia Pacific is rising investment, rapid industrialization in develop and developing countries like China and India and well-established electronics & electricals industry in the region. Some of the key participants of the global encapsulation resins market are ACC Silicones Ltd, BASF SE, The Dow Chemical Company, Henkel AG & Co. KGaA, Hitachi Chemical Co., Ltd, Huntsman International LLC, H.B. Fuller Company, Master Bond Inc, Fuji Chemical Industries Co., Ltd, Shin-Etsu Chemical Co. Ltd, etc.
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