Encapsulation Resins Market Research Report - Forecast till 2030

Encapsulation Resins Market: Information by Product Type (Epoxy Resins, Silicone Resins, Polyurethane Resins and others), Application (Transformers, Sensors, Switchgears, Insulators, Capacitors, Relays & Coils, Adhesives & Sealants and others), End-Use Industry (Building & Construction, Automotive, Transportation, Electrical & Electronics, Marine and others) and Region (North America, Asia-Pacific, Latin America, Europe and the Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/6426-HCR | January 2023 | Region: Global | 140 Pages         

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Encapsulation Resins Market

The Encapsulation Resins Market stood at over USD 3.67 billion in 2018 and is expected to register a CAGR of over 3.4% by the end of 2030.

Segmentation
By Product Type Epoxy Resins Silicone Resins Polyurethane Resins others
By Application Transformers Sensors Switchgears Insulators Capacitors Relays & Coils Adhesives & Sealants and others
By End-Use Industry Building & Construction Automotive Transportation Electrical & Electronics Marine and others
Key Players
Companies Profiled   Aremco (US)   Dow (US)   Hitachi Chemical Co.   Henkel AG & Co. KGaA (Germany)   BASF SE (Germany)   H.B. Fuller Company (US)   Huntsman International LLC (US)   Master Bond Inc. (US)   ELANTAS GmbH (Germany)   Shin-Etsu Chemical Co.   MG Chemicals (US)   Dymax Corporation (US)   Robnor ResinLab Ltd (UK)   LORD Corporation (US)   and RBC Industries
Drivers
Market Driving Forces    The growing demand for consumer electronics and electrical devices in other industrial sectors such as aerospace    automotive    marine    and others.
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Encapsulation Resins Market Overview


The Encapsulation Resins Market stood at over USD 3.67 billion in 2018 and is expected to register a CAGR of over 3.4% by the end of 2024. The rising demand for electrical devices and consumer electronics in various industries like aerospace, marine, automotive, and others is projected to drive the global market growth during the forecast period. Moreover, the global market has significant opportunities due to technological advancements in miniature-sized electronic device development.


The global market for Encapsulation Resins has been segmented on the basis of product type, end-use industry, and application. Further, the product type has been classified based on epoxy resins, polyurethane resins, silicone resins, and others. In terms of the end-user industry segment, the global market for Encapsulation Resins has been segregated into building & construction, transportation, automotive, marine, electrical & electronics, and others. The application segment has been classified into sensors, adhesives & sealants, transformers, insulators, switchgear, relays & coils, capacitors, and others.


The global Encapsulation Resins Market has covered various regions such as North America, Asia-Pacific, Europe, the Middle East & Africa, Latin America, and the rest of the world. Out of all, the Asia-Pacific regional market is projected to acquire the largest market share during the forecast period of 2024.


Key Players


Aremco (US), Dow (US), Hitachi Chemical Co., Ltd. (Japan), Henkel AG & Co. KGaA (Germany), BASF SE (Germany), H.B. Fuller Company (US), Huntsman International LLC (US), Master Bond Inc. (US), ELANTAS GmbH (Germany), Shin-Etsu Chemical Co., Ltd (Japan), MG Chemicals (US), Dymax Corporation (US), Robnor ResinLab Ltd (UK), LORD Corporation (US), and RBC Industries, Inc (US) are some of the key players operating in the global market.


Encapsulation Resins Market Share, by End-Use Industry, 2018 (%)  Encapsulation Resins Market_Image


Source: MRFR Analysis


Regional Analysis


Asia-Pacific is expected to the largest market for encapsulation resins by 2024 due to increase in demand for consumer electronics and miniature electronic equipments, as well as presence of prominent players of the electronic industry in the region such as Samsung Group, Hon Hai Precision Industry Co.Ltd., Hitachi Ltd., Sony Corporation, and Honeywell International Inc.


North America is also expected to be the fastest growing market for encapsulation resins, owing to the growth of construction and marine industries across the region coupled with the growth in the electronic equipment market.


The European market is expected to witness moderate growth during the forecast period owing to the moderate growth of the automotive industry in the region.


The Middle East & Africa market is expected to grow significantly due to the growing construction and automotive industries. GCC countries has proposed an investment of USD 2,700 billion by 2030 in the construction industry, which is expected to boost the regional market growth during the forecast period.


Segmentation


The Encapsulation Resins Market has been segmented based on Product Type, Application, End-Use Industry, and Region.


By Product Type, the global market has been classified into epoxy resins, silicone resins, polyurethane resins, and others.


Based on Application, the global market has been divided into transformers, sensors, switchgear, insulators, capacitors, relays & coils, adhesives & sealants, and others.


On the basis of End-Use Industry, the global market has been segregated into building & construction, automotive, transportation, electrical & electronics, marine, and others.


The global market, by Region, has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Recent Development


In June 2021


The low-pressure molding technology of Henkel AG & Co. KGaA is fulfilling the demand for encapsulation of electronics and medical components, industrial automation, power, lighting, and HVAC applications.


In October 2021


The novel epoxy encapsulation and impregnation material of the prominent market player Huntsman International LLC. Acts as an electric drive’s reliable insulation. This material is considered to play a significant role in facilitating electric mobility adoption.


Intended Audience



  • Encapsulation resins producers

  • Resins producers

  • Traders and distributors of encapsulation resins

  • Potential investors

  • Raw material suppliers



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2018: USD 3.67 Billion
  • 2030: Significant value
  •   CAGR   3.4%(2022–2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Product Type, Application, End-Use Industry and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Aremco (US), Dow (US), Hitachi Chemical Co., Ltd. (Japan), Henkel AG & Co. KGaA (Germany), BASF SE (Germany), H.B. Fuller Company (US), Huntsman International LLC (US), Master Bond Inc. (US), ELANTAS GmbH (Germany), Shin-Etsu Chemical Co., Ltd (Japan), MG Chemicals (US), Dymax Corporation (US), Robnor ResinLab Ltd (UK), LORD Corporation (US), and RBC Industries, Inc (US)
      Key Market Opportunities   The increasing advancement in the development of miniature size electronic devices, such as Intel's credit card-sized computer, a card-sized pistol by Trailblazer Firearms, LLC,
      Key Market Drivers   The growing demand for consumer electronics and electrical devices in other industrial sectors such as aerospace, automotive, marine, and others.


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    Frequently Asked Questions (FAQ) :

    Valuation of the global encapsulation resins market had reached USD 3.67 BN in 2018.

    Encapsulation Resins Market is projected to expand at over 3.4% CAGR during the assessment period (2019-2024).

    Electrical & electronics is the largest end-use industry segment in The Global Encapsulation Resins Market.

    Asia Pacific holds the largest share in The Global Encapsulation Resins Market, followed by North America and Europe, respectively.

    Hitachi Chemical Co., Ltd (Japan), Aremco (US), Dow (US), ELANTAS GmbH (Germany), BASF SE (Germany), H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Master Bond Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), Huntsman International LLC (US), MG Chemicals (US), Robnor ResinLab Ltd (UK), LORD Corporation (US), Dymax Corporation (US), and RBC Industries, Inc. (US), are some of the major players operating in the Encapsulation Resins Market.