Potting Compound Market

Potting Compound Market Size (2023-2028)

The Potting Compound Market size was anticipated at $ 6.1 billion in 2022 and is anticipated to reach $ 8.2 billion by 2028, with a CAGR of 5.3% during the forecast period 2023-2028

Potting is a method of filling or instituting solid compounds into an outright electronic convention for reluctance to shock and vibration and protection against moisture and corrosive agents. Silicone and epoxy resins, called fillers or fillers, are frequently used in electronics. Besides these two resins, some other types of resins are also used, including polyurethane, polyester, polyamide, polyolefin, and acrylic. These coating compounds are widely used in the electrical and electronic industry to protect products from moisture and impact. Some of the advantages associated with these compounds are low viscosity, semi-rigid, and flexible compositions, and they are ideal for high-volume production applications.

These compounds of pots are widely used in electrical and electronic industries to protect products from moisture and shock. Some of the advantages associated with these compounds are low viscosity, semi-rigid, and flexible compositions.

In electronics, potting is a process of filling a total electronic convention with a strong or thick compound for high voltage concentrations, excluding gaseous phenomena like corona discharge, for resistance to vibration and breakdown, and the debarring of water, moisture, or corrosive agents. In the next few years, there is an increasing demand for electronic devices, such as semiconductors, capacitors, transformers, and solenoids. Therefore, due to the factors mentioned above, the application of compounds for Potting in electronics is likely to dominate during the forecast period.

Potting Compound Market Drivers:

One of the major factors driving the market is the increasing demand for coating compounds from the electronics industry. The strong growth of urbanization in the world leads to increased use of electronic products and consumer goods, and this factor is expected to drive market growth. Since miniature electronic devices require better protection and resistance characteristics, this factor is expected to have a positive effect on the growth of the market. The increase in total expenditure incurred for the adoption of electronic products by different end-users is expected to have an effect positive on the growth market.

Potting Compound Market Restraints:

The lack of compatibility of these compounds with all products and the specific characteristics of the application is expected to be a restriction on the growth of the market. The requirement of certain conditions, such as high thermal curing and the use of more than one system when applying these compounds, are factors that limit the growth of the market. The adoption of the lock all over the world has halted the production of electronic parts, slowing the growth of the potting compounds market.

Opportunities in the Potting Compound Market:

New innovative applications emerging in end-user industries are likely to provide an opportunity for the studied market in the years to come.

 Challenges in the Potting Compound Market:

Strict government regulations affecting the reduction of VOC (volatile organic compound) emissions are expected to challenge the growth of the potting compounds market in North America.

POTTING COMPOUND MARKET REPORT COVERAGE:

Potting Compound Market Segmentation as per the research report until 2028.

Potting Compound Market - By Resin Type:

• Epoxy

• Polyurethane Resin

• Silicone Resin

• Polyester System

• Polyamide

By resin type, the silicone resins segment held the largest global potting compounds market share with around 29.8% in 2020 and is expected to maintain its dominance during the forecast period. This is due to increased demand from the automotive, electronics, solar photovoltaic, aerospace, and transportation systems sectors.

 Potting Compound Market - By Region:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

The North American potting compounds market was valued at $ 823 million in 2020 and is expected to reach $ 935 million by 2026, with a CAGR of 4.5% between 2021 and 2026. Increasing disposable income is a major factor propelling the growth rate of the market in North America. The growing prevalence of developing quality products with the latest technologies is enhancing the growth rate of the market. 

The Asia Pacific is next to North America is leading the highest shares of the market. The growing demand for potting compounds from the electronics industry in developing countries like China and India is expected to drive the demand for potting compounds in this region. The largest producers of potting compounds are in the Asia-Pacific region. India is a well-recognized consumer electronics manufacturing center in the world due to its low-cost production, cheap labor, easy availability, low cost of raw materials, and weak currency. The automotive market will be relaxed, and appropriate subsidies will be given to stimulate rural sales of certain vehicles, as well as the purchase of new energy vehicles, which in turn will stimulate the automotive industry's demand for sealant. Due to the above-mentioned factors, the Potting Compounds market in the Asia-Pacific region is expected to grow significantly during the study period. 

Europe is deemed to have the highest CAGR in the foreseen years with constant economic growth. Also, rising support from government organizations is elevating the growth rate of the potting compound market. 

Impact of Covid-19 on Potting Compound Market

The COVID-19 outbreak has had negative effects on various industries and countries around the world. In addition, the supply of raw materials needed to manufacture electronic components has been delayed. This disruption of supply chains may increase if the spread of the virus continues to increase globally. Due to this pandemic, uneven effects are seen in the electronics industry, as there is an increase in demand for electronic medical devices and other essential electronic components to cope with the COVID-19 effect. Hence, all of these factors are collectively expected to lead to slow growth of the global Potting Compounds market in 2020 and are expected to increase by the end of the first quarter of 2021.

Recent Developments in the Potting Compound Market

•  In November 2020, a new adhesive for piezoelectric ceramics was launched, a material developed for piezoelectric sensors and actuators. It has a high tear resistance for joining ceramics and plastics. It is injectable, transparent, and fluorescent under ultraviolet light. Custom versions with different colors are available to facilitate better process control. Its jet delivery capacity enables high UPH (units per hour) to be achieved, which is why Vitralit UD 8052 F is the perfect choice for consumer electronics applications. Fluorescent adhesive enables in-line process control with shortwave light for maximum productivity. In areas where light cannot reach, Vitralit UD 8052 F cures with atmospheric moisture and therefore cures reliably into a flexible surface and potting compound.

•  In October 2018, Intertronics released the gel filler compound. SilGel 612, a low viscidity silicone sealant, is originating at the global chemicals company WACKER. SilGel 612 has a simple one-to-one mixing ratio and is completely transparent. Room temperature soft gel cures and curing can be accelerated using heat, making the product suitable for manufacturers with high production rates

• In May 2019, Electrolube launched five new Potting resins under the brands "SC4003", "SC4004", "ER6007", "ER6004" and "ER6003" for the Indian region. These resins have been manufactured in local facilities from local raw materials to reduce the overall cost associated with the products. The goal of the company behind this launch is to meet growing regional demand at a very reasonable cost.

Potting Compound Market Key Players:

1. Altana AG

2. Aremco Products, Inc

3. Dow, Inc

4. Dymax Corporation

5. Henkel AG & Co. KGaA

6. Hitachi Chemical Co., Ltd

7. Huntsman International LLC

8. Lord Corporation

9. Master Bond, Inc

10. MG Chemicals

11. RBC Industries, Inc

12. Shanghai SEPNA Chemical Technology Co., Ltd

13. Wacker Chemie AG

14. Wevo-Chemie GmbH

15. 3M