Encapsulants Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The inclination of miniaturization in devices and the growing functionality of electronics devices are the factors that are driving the encapsulants market globally.
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Encapsulants Market Segment Insights:
By Chemistry Type:
Based on the chemistry type, the market is segmented as epoxy encapsulant, silicone encapsulant, and urethane encapsulant. The growth of the silicone segment is attributed to the growing consumer electronics and the high demand for electric vehicles.
By Curing Type:
Based on the curing type, the market is segmented as room temperature cure, heat cure, and UV cure. The room temperature cure segment is estimated to register the highest growth in the coming five years. Easy curability and elevated reliability drive the growth of this segment.
By Region:
In terms of regions, Asia-Pacific is expected to dominate the encapsulants market in the coming five years. China and India are the growth engines of the region. The market is driven by the growing application of encapsulants in various end-use industries. North America and Europe also offer sizeable growth opportunities during the forecast period.
Key Players:
Some of the encapsulant manufacturers are Engineered Material Systems, Inc., The 3M Company, BASF SE, Resin Technical Systems, Sanyu Rec Co., Ltd., John C. Dolph Company, Master Bond Inc., Dymax Corporation, Nagase & Co., Ltd., Creative Materials Incorporated, and Aptek Laboratories, Inc.
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