“Global Potting Compound Market to reach a market value of USD 4.4 Billion by 2030 growing at a CAGR of 4.1%”
The Global Potting Compound Market size is expected to reach $4.4 billion by 2030, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 914.21 kilo tonnes, experiencing a growth of 3.4% (2019-2022).
Polyurethane potting compounds resist water, moisture, and chemicals, making them suitable for outdoor, marine, and corrosive environments. Thus, the polyurethane segment captured 22.3% revenue share in the market 2022. hydrophobic nature of polyurethane prevents water ingress and moisture absorption, protecting electronic components from corrosion and degradation. This property is particularly beneficial in applications exposed to harsh weather conditions, chemicals, and environmental contaminants.
Potting compounds effectively protect against environmental factors, preventing corrosion, moisture ingress, and mechanical damage to electronic components, extending their lifespan, and ensuring uninterrupted operation of 5G networks.
Additionally, it encapsulates electronic components in transportation applications, ensuring reliability and performance in demanding environments. The construction industry is adopting automation and smart building technologies to improve construction processes, energy efficiency, and building performance. HVAC (heating, ventilation, and air conditioning) systems, security, and access control are just a few of the electronic components used in building automation.
However, Potting compound manufacturers may face unpredictability in the cost of production due to fluctuations in raw material prices. Sudden increases in raw material prices can result in higher production expenses, squeezing profit margins and potentially making it difficult for manufacturers to maintain competitive pricing. Thus, fluctuations in raw material prices can slow down the growth of the market.
On the basis of application, the market is bifurcated into electrical and electronics. In 2022, the electrical segment captured 54.1% revenue share. The electrical segment encompasses a diverse range of applications with unique requirements for encapsulation solutions.
Based on curing technology, the market is classified into UV curing, thermal curing, and room temperature curing. In 2022, the UV curing segment witnessed 56.8% revenue share in the potting compound market. UV curing potting compounds offer exceptionally fast cure times compared to traditional thermal curing systems.
By end user, the market is divided into electronics, aerospace, automotive, industrial, and others. The automotive segment covered 16.5% revenue share in the market in 2022. Automotive applications involve constant exposure to vibrations, shocks, and mechanical stress caused by road conditions, engine operation, and vehicle movement.
By resin type, the market is categorized into epoxy, polyurethane, silicone, polyester, polyamide, polyolefin, and acrylics. The silicone segment acquired 28.7% revenue share in the potting compound market in 2022. In terms of volume the Silicone segment attained 169.47 kilo tonnes in the market 2022. Silicone potting compounds exhibit a wide operating temperature range, from extreme cold to high heat.
Free Valuable Insights: Global Potting Compound Market size to reach USD 4.4 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired 27.3% revenue share in the market. North America has a robust electronics industry encompassing consumer electronics, automotive electronics, telecommunications, industrial automation, and aerospace sectors.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.2 Billion |
| Market size forecast in 2030 | USD 4.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.1% from 2023 to 2030 |
| Number of Pages | 411 |
| Number of Table | 880 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Curing Technology, Resin Type, Application, End User, Region |
| Country scope |
|
| Companies Included | The Dow Chemical Company, Dymax Corporation, Henkel AG & Company, KGaA, Huntsman Corporation, MG Chemicals, Wacker Chemie AG, 3M Company, WEVO-CHEMIE GmbH, Shanghai SEPNA Chemical Technology Co., Ltd., Master Bond Inc. |
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Curing Technology
By End User (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Resin Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $4.4 billion by 2030.
Increased deployment of 5G infrastructure are driving the Market in coming years, however,Fluctuations in raw material prices restraints the growth of the Market.
The Dow Chemical Company, Dymax Corporation, Henkel AG & Company, KGaA, Huntsman Corporation, MG Chemicals, Wacker Chemie AG, 3M Company, WEVO-CHEMIE GmbH, Shanghai SEPNA Chemical Technology Co., Ltd., Master Bond Inc.
In the year 2022, the market attained a volume of 914.21 kilo tonnes, experiencing a growth of 3.4% (2019-2022).
The Electrical segment is leading the Market by Application in 2022; there by, achieving a market value of $2.3 billion by 2030.
The Asia Pacific region is leading the Market by region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $1.9 billion by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 