Global Potting Compound Market was valued US$ 2.57 Bn in 2018 and is expected to reach US$ 3.51 Bn by 2026 at a CAGR of 3.97 % during the forecast period.
Factors such as the rise in single residence families and an increase in urbanization boost electronic production. Furthermore, the rise in disposable income of the middle-class population leads to the purchase of advanced electronics products, thereby fueling the growth of this industry. It altogether has created the need to produce more electronics products and parallel need for the protection of these devices. Potting compounds are significantly used in the assembly of these products to ensure safety by driving its adoption. Since the overall application scope of potting compounds are covered in electronics and electrical applications, a shift in trends and technological impact on the electronics and electrical industry are expected to provide lucrative growth opportunities for the potting compound market during the forecast period. Some of the potting resins are application specific, hence, improper selection of resin can damage the overall electric assembly and component as well. This factor is expected to hamper the potting compound market growth over the assessment period.
Epoxy resins are the most widely used the potting compound. These compounds generally have better adhesion, high-temperature resistance & chemical resistance, higher rigidity, modulus & tensile strength, and very good moisture resistance. This makes it an excellent option for outdoor applications. Epoxies have excellent dielectric properties and are used extensively in potting transformers and switches. Epoxy resins have been widely used for the electronics application as they are generally hard, tough, and exhibit low shrinkage on cure.
The electronics sector is the largest application for potting compound globally. Potting compounds are used to protect, insulate, and conceal circuitry, components, and devices. They are formulated to meet the requirements of many demanding applications in the electronics and electrical sectors such as consumer electronics, transportation, aviation, marine, energy & power, solar power, and others. Potting in both electronic and electrical applications are done to reduce internal stress, achieve excellent dielectric properties, electrical insulation, thermal conductivity, thermal shock resistance, mechanical strength, adhesion, hardness, cure speed, and chemical resistance.
Asia-Pacific is the global forerunner in the potting compound market, in terms of value and volume, and the trend is expected to continue till 2026. Countries in this region such as China, India, Japan, South Korea, and Malaysia are witnessing a significant increase in the use of potting compounds in electronics & electrical applications. This growth is mainly due to the increasing demand from consumer electronics and transportation industry in Asia-Pacific. Further, rapid industrial development in Asia-Pacific is dynamically pushing the demand for potting compound in electronics and electrical applications. Malaysia, Indonesia, Singapore, and India are the fastest-growing markets in the region and are expected to follow a similar trend until 2026.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by solution type, end user, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Potting Compound market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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