Clear Encapsulation Materials Market Introduction
- Clear encapsulation materials look similar to water, and are ideal for usage in various encapsulation and display applications. Clear encapsulation material is ideal for encapsulating artificial flower stems to create artificial water for floral displays.
- Clear encapsulation materials can be prepared by using silicone rubbers, urethane rubbers, urethane liquid plastics, and epoxy resins. Clear encapsulation materials possess various chemical and electrical properties such as optical clearness, electrical insulation, flexibility, shock resistance, water resistance, and chemical and temperature resistance. These properties make clear encapsulation materials suitable for encapsulation applications.
- In terms of application, the global clear encapsulation materials market can be segmented into electrical & electronics, automobiles, medical, energy & power, optics, and others. The electrical & electronics application segment is expected to expand at a significant pace during the forecast period owing to rise in consumption of electrical and electronics devices in various developing and developed countries.
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Key Drivers of Clear Encapsulation Materials Market
- Growth in consumption of electrical and electronics appliances across the globe is expected to augment the global clear encapsulation materials market during the forecast period. Consumption of consumer electrical appliances has been increasing due to changing lifestyle and rise in purchasing power parity of consumers. This is anticipated to boost the consumption of clear encapsulation materials.
- Clear encapsulation material exhibit excellent electrical properties to prevent wear and tear of electrical devices. Electrical and electronics devices manufactured with clear encapsulation materials last longer and perform better.
- Increase in demand for alternative renewable energy sources and growth in the automotive sector are estimated to augment the market during the forecast period. The world is shifting toward renewable energy sources to reduce the emission of carbon dioxide. This is boosting the demand for solar energy, thereby propelling the consumption of clear encapsulation materials in applications of solar cells and photovoltaic cells. Clear encapsulation materials are resistant to temperature, moisture, water, and shock. Thus, they are ideal materials for automotive LEDs and displays.
Clear Encapsulation Materials Market Restraints
- Fluctuation in prices of raw materials is projected to hamper the global clear encapsulation materials market. Raw materials such as silicone rubbers, urethane rubbers, urethane liquid plastics, and epoxy resins are used in preparation of clear encapsulation materials. The raw materials are experiencing unstable prices, as the supply chain has been disrupted due to the COVID-19 pandemic. These raw materials experience periodic fluctuation in demand. This significantly affects their prices.
- Dearth of universal directives pertaining to applications of clear encapsulation materials is also likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of clear encapsulation materials. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the clear encapsulation materials market, thereby adversely affecting the market.
Covid-19 Impact on Clear Encapsulation Materials Market
- Clear encapsulation plays an important role in various end-user industries such as automotive, medical, and electrical & electronics. Many production facilities of these end-user industries have been halted due to the COVID-19 pandemic. This has adversely affected the demand for clear encapsulation materials. However, demand for some health care devices has increased during the pandemic. This has created demand for clear encapsulation materials in the manufacture of such health care devices.
- Key players operating in the clear encapsulation materials market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials. Thus, demand for clear encapsulation materials market is expected to decline in 2020.
Asia Pacific to Hold Major Share of Global Clear Encapsulation Materials Market
- In terms of region, the global clear encapsulation material market can be split into North America, Asia Pacific, Europe, Middle East Asia& Africa and Latin America
- Asia Pacific is projected to hold significant share of the global clear encapsulation materials market in terms of consumption during the forecast period. End-user industries such as automotive, health care, and electrical & electronics are rapidly expanding in the region. Rise in disposable income and improvement in standard of living in many countries in Asia Pacific are boosting the demand for consumer electronics. This, in turn, is augmenting the demand for clear encapsulation materials. Additionally, rise in production and sale of passenger vehicles in China, India, Japan, and South Korea is expected to increase the consumption of clear encapsulation materials in automotive applications, thereby boosting the market in these countries.
- North America is expected to account for vital share of the global clear encapsulation material market during the forecast period owing to presence of major automotive players and flourishing electrical & electronics industry in the U.S. and Canada
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Prominent Players in Global Clear Encapsulation Materials Market
Major players operating in the global clear encapsulation materials market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Wacker Chemie AG
- Dow Corning Corporation
- ACC Silicones Ltd
- Evonik Industries
- Shin-Etsu Chemicals
- Henkel AG
- Huntsman Corporation
- Sika AG
- H.B. Fuller
- EPIC RESINS
- Sol Epoxy
Global Clear Encapsulation Materials Market, by Type
Global Clear Encapsulation Materials Market, by Application
- Electrical & Electronics
- Energy & Power
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.