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Potting Compounds Market by Resin Type (Epoxy, Polyurethane, Silicone, Polyester, Polyamide, Polyolefin and Acrylics), by Curing Technique (UV, Thermal and Room Temperature), by Application (Surface Mount Packages, Beam Bonded Components, Memory Devices & Microprocessors, Capacitors, Transformers, Cable Joints, Industrial Magnets, Solenoids, and Others), and by End-user (Electronics, Aerospace, Automotive, Industrial, and Others): North America Opportunity Analysis and Industry Forecast, 2018-2025

MA-2019-07-7

Pages: 130

Jul 2019

The North America potting compound market was valued at $ 728 million in 2017 and is projected to reach $ 931 million by 2025, growing at a CAGR of 3.2% from 2018 to 2025. Potting compounds are encapsulants compound that are used in the electronic assembly to secure the electronic component, equipment, and products by maintaining its quality. Silicone, epoxy, and polyurethane are the most important resins used in the potting process, which exhibit outstanding properties against environmental conditions.

Potting is a process of filling an electronics component with solid or gelatinous compounds in order to electrically insulate a device and to protect it from the surrounding environment. Thermosetting plastics or silicone rubber gels are frequently used in potting compound, though epoxy resins are also very common compound. It is flame retardants, vibration, and heat resistant compound. Potting compounds find a large range of applications in the electronics sector includes capacitors, cable joints, solenoids, memory devices, microprocessors, and others.

The growing electronics sector is expected to increse the demand for potting compounds in future. In addition, factors such as, the rising demand from other end-use industries such as transportation and aerospace is also expected to drive the growth of the North American potting compounds market over the coming years. However, stringent government regulations that affect to the reduction of VOC (Volatile Organic Compounds) emissions are expected to restrain the growth of the North American potting compounds market. As the market is developed fully in North America, the only way for manufacturers to stand out is to adopt strategies such as product development and mergers & acquisitions. Moreover, increase in investment on R&D activities for potting compound product is offer to healthy growth opportunity to the North America potting compound market.

The market is segmented based on resin type, curing technique, application, end use, and region. Based on resin type, it is classified into epoxy, polyurethane, silicone, polyester, polyamide, polyolefin and acrylics. Based on curing technique, it is divided into UV, thermal and room temperature. Based on application, it is classified into surface mount packages, beam bonded components, memory devices & microprocessors, capacitors, transformers, cable joints, industrial magnets, solenoids, and others. Based on end-use, it is classified into electronics, aerospace, automotive, industrial, and others. By country, it is analyzed across North American countries U.S., Mexico, and Canada.

The major key players operating in the North America potting compound industry include Henkel AG & Co.KGaA, H.B. Fuller Company, ELANTAS GmbH, MG Chemicals, Dymax Corporation, LORD Corporation, Robnor ResinLab Ltd, Huntsman International LLC., Wacker Chemie AG, and Solvay. The North American companies are expanding their business in emerging markets to increase their North American footprint. The companies are adopting various strategies like mergers, collaboration, acquisition and agreement for business expansion and technological advancements

The degree of industry attractiveness in the North America potting compound market is analyzed based on impact of five major forces on the market. Porter’s five forces analysis includes the impact of suppliers, industry rivals, new entrants, substitute products, and buyers on the market growth. Porter’s five forces model analyzes the macro- and microbusiness factors of the North American market. The suppliers for potting compounds include various domestic and international producers of epoxy, polyurethane, silicone, polyester, polyamide, polyolefin and acrylics potting compounds. The consumers in the market are from aerospace, automotive, electronics and others.

Based on country, U.S. accounts for major share in the North America potting compound market and it is also attributed to be the fastest growing countries followed by U.S., and Mexico. The silicone and epoxy segments are expected to witness significant growth rates over the forecast period. On the other hand, the automotive industry is anticipated to exhibit highest growth rate during review period on account of high growth in automotive production and sales in U.S.

Based on resin type, the potting compound segment dominated the market in 2017, owing to increase in use of silicon and epoxy compounds in electronics and automotive industry. On the other hand, polyester resin segment is also anticipated to exhibit highest CAGR during the forecast period.

Based on curing technique, the market is divided into UV curing, thermal curing, and room temperature curing. UV curing technique is accounted for the largest market share in 2017 and it is anticipated to continue its dominance during the forecast period in U.S. This factor such as increasing the growth of the North America potting compound market.

Based on application, the market is divided into electrical and electronics. Electronics applications acquired the largest market share in 2017 as a result of major demand for potting compounds in the surface mount packages and memory devices and microprocessors applications.

Based on end use, the electronic segment is expected to grow with the highest CAGR during the forecast period. Electronics end use industry was the largest shareholder in 2017 due to suitable properties of potting compounds in the electronics and electrical applications. The demand for potting compound in U.S. is expected to increase in the coming decade owing to the commencement of several electronics infrastructural projects over the coming years.

KEY BENEFITS FOR STAKEHOLDERS

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the potting compound industry for strategy building.
  • It outlines the current potting compound market trends and future scenario of the market size from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the potting compound market analysis.

KEY MARKET SEGMENTS

By Type

  • Epoxy
  • Polyurethane
  • Silicone
  • Polyester
  • Polyamide
  • Polyolefin
  • Acrylics

By Curing Technique

  • UV
  • Thermal
  • Room Temperature

By Application

  • Surface Mount Packages
  • Beam Bonded Components
  • Memory Devices & Microprocessors
  • Capacitors
  • Transformers
  • Cable Joints
  • Industrial Magnets
  • Solenoids
  • Others

By End-Use

  • Electronics
  • Aerospace
  • Automotive
  • Industrial
  • Others

By Country

  • U.S.
  • Canada
  • Mexico

   

The potting compounds market is driven by the growing consumer electronics sector and an increasing demand to miniaturize electronic devices in various end use industries. However, the selection of a perfect potting compound according to the application is a major challenge for end-users. According to the analyst, the growth of the potting compounds market can be supplemented by adopting the strategy of product development.
 

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