Encapsulants Industry Set for Steady Growth in the Forecast Period
Encapsulants are materials that are used to shield and insulate semiconductor devices. They are typically applied in the form of a liquid or paste and cured to form a protective layer around the semiconductor. Encapsulants are used to protect semiconductors from damage caused by environmental factors such as moisture, chemicals, or dust. They also provide electrical insulation and reduce the possibility of short circuits. Factors driving this expansion include rising consumer electronics demand, expansion in the automotive industry, and increased adoption of artificial intelligence (AI) and Internet of Things (IoT) technology. The global encapsulants industry was projected to reach USD 1.64 Billion by 2022, at a CAGR of 5.5%.
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Here are some key end users of the encapsulants market:
- Electronics and Electrical Industry: The electronics and electrical industry is one of the primary end users of encapsulants. These materials are used to encapsulate and protect electronic components such as integrated circuits (ICs), printed circuit boards (PCBs), semiconductors, sensors, connectors, and LED modules. Encapsulants safeguard these components from moisture, dust, temperature fluctuations, and mechanical stress.
- Automotive Industry: Encapsulants find significant application in the automotive industry. They are used to protect sensitive electronic components in vehicles, including engine control units (ECUs), sensors, ignition systems, and lighting modules. Encapsulants help ensure the reliable operation of these components in harsh automotive environments, such as temperature variations, vibrations, and exposure to fluids.
- Renewable Energy Sector: The encapsulants market also serves the renewable energy sector, particularly in photovoltaic (PV) modules or solar panels. Encapsulants are used to protect the delicate solar cells from moisture, UV radiation, and mechanical damage, thereby increasing their lifespan and efficiency.
- Aerospace and Defense: Encapsulants play a crucial role in the aerospace and defense industry, where they are used to protect electronic systems, avionics, and sensitive equipment from harsh conditions such as extreme temperatures, humidity, vibration, and shock. These materials ensure the reliable performance of critical electronics in aerospace and defense applications.
- Medical and Healthcare: Encapsulants find applications in the medical and healthcare industry, where they are used to protect and insulate sensitive electronic components in medical devices, diagnostic equipment, implantable devices, and wearable sensors. Encapsulants provide protection against bodily fluids, sterilization processes, and environmental factors to maintain the functionality and safety of these devices.
- Industrial Applications: Encapsulants are used in various industrial applications, such as encapsulating and protecting sensors, control systems, and electronic components used in industrial automation, robotics, machinery, and equipment. These materials safeguard the electronics from harsh operating conditions, contaminants, and mechanical stresses.
- Consumer Electronics: Encapsulants are employed in the consumer electronics industry for protecting components in devices such as smartphones, tablets, gaming consoles, wearables, and home appliances. They provide insulation, moisture resistance, and protection against physical damage, enhancing the durability and reliability of these devices.
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The epoxy chemistry segment is projected to lead the encapsulants market during the forecast period.
The epoxy chemistry segment is expected to lead the encapsulants market during the forecast period. The superior properties of epoxy encapsulants, such as high dielectric strength, thermal and chemical resistance, and excellent adhesion, are expected to drive the segment. The rising demand for epoxy encapsulants in the automotive, electrical & electronics, and aerospace & defense industries is also expected to drive the growth of the epoxy chemistry segment during the forecast period.
The silicone segment held the largest share of the encapsulants market. This is due to silicone encapsulants' properties, such as their ability to withstand extreme temperatures, UV radiation, and moisture, as well as their electrical insulating properties. Furthermore, rising demand from end-use industries such as consumer electronics, automotive, and healthcare has propelled the silicone encapsulants market forward.
The consumer electronics end-use industry segment is projected to grow at the highest CAGR during the forecast period.
Due to increased demand for consumer electronics such as smartphones, tablets, laptops, and wearables around the world, the consumer electronics end-use industry segment is expected to grow at the fastest compound annual growth rate (CAGR) during the forecast period. Rising disposable income, changing lifestyles, and technological advancement are driving the increased demand for these devices. Furthermore, the increasing adoption of 5G technology is expected to fuel demand for consumer electronics in the near future.
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The Asia Pacific encapsulants market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific encapsulants market is expanding due to rising demand from the region's electronics industry, which is followed by North America and Europe. The region's demand for encapsulants is being driven by rising demand for electric and hybrid vehicles, as well as rising consumer electronics products. Other factors driving the growth of the Asia Pacific encapsulants market include rising demand for encapsulants in the automotive industry and rising demand for renewable energy. The presence of many encapsulant manufacturers in the region is also helping to drive market growth. Furthermore, the growing use of encapsulants in the medical industry is expected to drive market growth in the region.
Key companies profiled in this research report on the encapsulants market include Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), H.B. Fuller (US) and others.
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