The “Silicone Potting Compounds Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Silicone Potting Compounds Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global silicone potting compounds market size was US$ 987.2 million in 2021. The global silicone potting compounds market is forecast to grow to US$ 1366.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030.
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Silicon potting compound finds its vast applications in the electronics industry. They are used to avail protection to the electronic components from the surrounding environment changes.
Factors Influencing the Market
The beneficial properties of silicone potting compounds will drive the market forward. Silicone potting compounds possess excellent electrical properties and can protect the device from moisture even under changing temperature conditions. In addition to that, its excellent chemical, humidity, & water resistance properties will drive the industry forward.
The rising demand for shield-sensitive components and their wide applications in the automotive, computing, communications industry will benefit the global silicone potting compounds market. In addition to that, the steeply growing electronics industry will escalate the growth of the global silicone potting compounds market.
The growing popularity of ultraviolet (UV)-cured silicone potting compounds due to their good insulation properties, bond strength, and lower energy consumption will upsurge the growth of the market.
COVID-19 Impact Analysis
The wake of the COVID pandemic impeded the economic growth of several developed and developing countries. The pandemic resulted in the shutdown in various countries for a long time. As a result, the import-export of various components, including raw materials, was halted to obstruct the spread of the virus. This global health emergency spread to at least 213 countries and territories around the world. China, which is the major exporter of silicon and silica, witnessed a significant economic downfall. As a result, it hampered the growth of the global silicone potting compounds market.
Regional Analysis
The Asia-Pacific silicone potting compounds market is forecast to hold dominance in terms of revenue. It is attributed to the steeply growing electronics and automotive industry in the region. Furthermore, the growing demand for electrical and electronic appliances will contribute to the growth of the silicone potting compounds market.
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China is forecast to hold the highest share in the global silicone potting compounds market. It is owing to the growing industrialization and improvement in disposable income. Moreover, the North America market for silicone potting compounds will grow at a significant growth rate due to the presence of prominent industry players, such as Novagard Solutions, Dymax Corporation, etc. As a result, it will benefit the silicone potting compounds market.
Competitors in the Market
- Henkel, Dow Corning
- Novagard Solutions
- LORD
- ELANTAS
- Master Bond
- MG Chemicals
- Dymax Corporation
- Noelle Industries
- Elkem ASA
- Robnor ResinLab Ltd
- Huntsman International LLC
- Other Prominent Players
Market Segmentation
The global silicone potting compounds market is segmented on the basis of application, end-user, curing technique, and region.
By Application
- Surface Mount Packages
- Beam Bonded Components
- Memory Devices & Microprocessors
- Capacitors
- Cable Joints
- Transformers
- Industrial Magnets
- Solenoids
- Others
By End-User
- Automotive
- Electronics
- Aerospace
- Industrial
- Others
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By Curing Technique
- UV Curing
- Thermal Curing
- Room Temperature Curing
By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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