Resins are widely used across electronics and electrical industries to for encapsulation and potting. Electro-chemical manufacturers are producing a wide variety of resin products owing to the increasing use and development of technically advanced devices. Wearable devices are gaining popularity and these devices use some form of connectivity and the connectivity with other system or devices is provided via radio waves. Hence, encapsulation resins are being used as it allows transmission of RF signal without any interference. For instance, such RF signals are being used in automotive industry, where information is transferred from various sensors placed in care to the dashboard. The encapsulation resins providers are also offering various cleaning products to ensure harmful contaminants on Printed Circuit Boards (PCBs) are removed before applying encapsulation resins as it can result in the failure of the device.
Leading players in the global encapsulation resins market are Fuji Chemical Industrial Co., Ltd., Shin-Etsu Chemical Co. Ltd., Master Bond Inc., Huntsman Corporation, Henkel ag & co. kgaa, H. B. Fuller Company, Hitachi Chemical, Dow Chemical Company, ACC Silicones Ltd., and BASF.
Global Encapsulation Resins Market to Witness Sluggish Growth between 2017 and 2026
As per the latest report by Transparency Market Research (TMR), the global market for encapsulation resins is expected to experience sluggish growth, registering CAGR of 3.2% during the forecast period 2017-2026. The global encapsulation resins market is also estimated to bring in US$ 3,757.6 million revenue by the end of 2026.
The global market for encapsulation resins is segmented on the basis of end use industries, product type, and region. Based on the product type, the market is further segmented into Silicone Resins, Polyurethane Resins, Epoxy Resins, and other product types. Among these epoxy resins is likely to emerge as one of the top-selling products between 2017 and 2026.
Based on the end-use industries, the market is divided into telecommunication components, automotive components, electronics & electrical components, and other end use industries. During the forecast period 2017-2026, electronics & electrical components are expected to be the largest users of encapsulation resins.
Geographically, the market segmentation consists Latin America, Europe, Japan, North America, Asia Pacific Excluding Japan (APEJ), and the Middle East and Africa (MEA). Among the given regions, APEG is expected to remain dominant in the global encapsulation resins market between 2017 and 2026. Owing to the increasing demand for consumer electronic products, miniaturization of electronic products, and the presence of electronic giants are some of the factors driving the demand for encapsulation resins in APEJ. Moreover, the increase in the use of electronics and sensors in the automotive sector is also driving the growth of encapsulation resins in the region.
Epoxy Resins to Gain Maximum Traction during 2017-2026
Owing to the excellent mechanical and electrical properties, epoxy resins are widely used in the electronics industry. Epoxy resins also offer better protection against high temperatures, chemicals, moisture, dust and short circuits. Providing efficient dissipation of heat from electronic components, epoxy resins helps in prolonging service life. A wide range of epoxy-based resin systems are available including different properties. Hence, epoxy resins are considered suitable for wide range of applications. Epoxy resins are finding major application in paints and coatings. However, high raw material cost and environmental concerns are acting as a roadblock in the growth of epoxy resins.
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