Potting Compound Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Potting Compound Market Analysis
The Global Potting Compound Market is projected to register a CAGR of 3% during the forecast period (2021-2026).
Potting compounds over other types of sealant are to protect against moisture to prevent short circuits, to offer increased chemical protection in complex assemblies, to provide mechanical shock and vibration resistance in challenging environmental conditions. Potting compounds consumption is dominated by Electronics industries. The outbreak of COVID-19 has affected many manufacturing industries including electronics industry and as well as general economic activities. The implementation of lockdowns across various countries and disruptions in supply has affected the electronics industry. Whereas the slump in economic activity has affected the development and the expansions in the industry, which has a series impact on demand for potting compounds
- Over the short term, the rising demand from the electronis industry is likely to drive the market demand. The electronics Industry accounts for the largest share of the total revenue of the potting compound market
- On the flip side, absence of compatibility of these compounds with each product and application-explicit characteristics are estimated to hinder the growth of the market studied
- The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as China and India.
Potting Compound Market Trends
This section covers the major market trends shaping the Potting Compound Market according to our research experts:
Growing Demand for Potting Compound from the Electronics Industry
- In electronics, potting is a procedure of filling a total electronic assembly with a strong or thick compound for high voltage gatherings, by excluding gaseous phenomena such as corona discharge, for resistance to shock and vibration, and the exclusion of water, moisture, or corrosive agents.
- In the potting process, an electronic assembly is placed inside a mold, which is then filled with an insulating liquid compound that hardens, permanently protecting the assembly.
- Potting materials are a permanent protective solution, which will remain an integral part of the unit to protect the electronic assembly, while providing numerous benefits, such as electrical Insulation, enhanced mechanical strength, and heat dissipation.
- The electronics industry is likely to grow significantly in the coming years, owing to the increasing demand for electronic devices, such as semiconductors, capacitors, transformer, and solenoids.
- India is expected to have a digital economy of USD 1 trillion by 2025 and India's Electronics System Design and Manufacturing (ESDM) sector is expected to generate over USD100 billion in economic value by 2025. Several policies such as Make in India, National Policy of Electronics, Net Zero Imports in Electronics, and Zero Defect Zero Effect, offer a commitment to growth in domestic manufacturing, lowering import dependence, energizing exports, and manufacturing. In 2019, the imports from electronics industry declined whereas the electronics production and exports increased for the first time compared to the previous year.
- Furthermore, the number of smartphone users in China is growing rapidly. The number of smartphone users in the country is expected to reach 868.2 million by 2023.
- Hence, owing to the above-mentioned factors, the application of potting compound in electronics is likely to dominate during the forecast period despite of the temporary impact caused by the outbreak of COVID-19.
The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for potting compound during the forecast period. The rising demand for potting compound from the electronics industry in developing countries, like China and India, is expected to drive the demand for potting compound in this region.
- The largest producers of potting compounds are located in the Asia-Pacific region. Some of the leading companies in the production of potting compounds are Henkel AG & Co. KGaA, ELANTAS Beck GmbH, MG Chemicals, Momentive Performance Materials Inc., and 3M, among others.
- India is a well-recognized consumer electronics manufacturing hub in the world because of its low-cost production, cheap labor, easy availability, low cost of raw materials, and a weak currency.
- Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025.
- The electric vehicle market struggled last year before the pandemic. The change in the thinking of consumers has started to drive the market for energy vehicles after the pandemic. According to the China Passenger Car Association, EV sales in China fell to 11,000 units in February 2020, a drop of about 77% over the last year, thus, marking the eighth straight monthly decline in EV sales in China. However, the sales, as well as production of new energy vehicles registered new highs from April 2020. According to the China Association of Automobile Manufacturers, the production of new energy passenger and commercial vehicles reached 111,900 vehicles till November 2020. Additionally, the sales of new energy vehicles till November 2020, reached 110,900 vehicles registering a 3.9% year-on-year growth.
- The National Development and Reform Commission (NDRC) of China announced that the restrictions will be loosened on the automobile market, and appropriate subsidies will be provided to boost rural sales of some vehicles, as well as the purchase of new energy vehicles, which will in turn boost the demand for potting compound from the automotive industry.
- Owing to the above-mentioned factors, the market for potting compounds in the Asia-Pacific region is projected to grow significantly during the study period. However, due to the recent outbreak of COVID-19, the market is expected to witness a sluggish growth , which is expected to recover in the coming years thereby driving the makret studied
Potting Compound Industry Overview
The global potting compound market is partially fragmented in nature, with only a few major players dominating the market. Some of the major companies are Henkel AG & Co. KGaA, ELANTAS Beck GmbH, MG Chemicals, Momentive Performance Materials Inc., and 3M, among others.
Potting Compound Market Leaders
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ELANTAS Beck GmbH
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MG Chemicals
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Momentive Performance Materials Inc
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3M
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Henkel AG & Co. KGaA
*Disclaimer: Major Players sorted in no particular order
Potting Compound Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand for Potting Compound from the Electronics Industry
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Absence of Compatibility of these Compounds with Each Product and Application-explicit Characteristics
- 4.2.2 Impact of COVID-19 on the Market Studied
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Polyurethane
- 5.1.3 Silicone
- 5.1.4 Polyester
- 5.1.5 Other Resin Types
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5.2 Curing Techniques
- 5.2.1 UV Curing
- 5.2.2 Thermal Curing
- 5.2.3 Room Temperature Curing
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5.3 End-user Industry
- 5.3.1 Electronics
- 5.3.2 Automotive
- 5.3.3 Aerospace
- 5.3.4 Industrial
- 5.3.5 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Dow
- 6.4.3 CHT UK Manchester Ltd
- 6.4.4 Dymax Corporation
- 6.4.5 EFI Polymers
- 6.4.6 ELANTAS Beck GmbH
- 6.4.7 H.B. Fuller Company
- 6.4.8 Henkel AG & Co. KGaA
- 6.4.9 Huntsman International LLC
- 6.4.10 Hitachi Chemical Co. Ltd
- 6.4.11 MG Chemicals
- 6.4.12 Momentive Performance Materials Inc.
- 6.4.13 Techsil
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Emerging New Innovative Applications in End-user Industries
- 7.2 Other Opportunities
Potting Compound Industry Segmentation
Potting Compound is used for a variety of applications espicially in the electronics industry. The Potting Compound market is segmented by resin type, curing technologies, end-user industry, and geography. By resin type, the market is segmented into Epoxy, Polyurethane, Silicone, Polyester and Other Resin Types. By curing technologies, the market is segmented by UV Curing, Thermal Curing and Room Temperature Curing. By end-user industry, the market is segmented into Electronics, Automotive, Aerospace, Industrial and Other End-user Industries. The report also covers the market size and forecasts for the Potting Compound market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).
| Resin Type | Epoxy | |
| Polyurethane | ||
| Silicone | ||
| Polyester | ||
| Other Resin Types | ||
| Curing Techniques | UV Curing | |
| Thermal Curing | ||
| Room Temperature Curing | ||
| End-user Industry | Electronics | |
| Automotive | ||
| Aerospace | ||
| Industrial | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Potting Compound Market Research FAQs
What is the current Potting Compound Market size?
The Potting Compound Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Potting Compound Market?
ELANTAS Beck GmbH , MG Chemicals, Momentive Performance Materials Inc, 3M and Henkel AG & Co. KGaA are the major companies operating in the Potting Compound Market.
Which is the fastest growing region in Potting Compound Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Potting Compound Market?
In 2024, the Asia Pacific accounts for the largest market share in Potting Compound Market.
What years does this Potting Compound Market cover?
The report covers the Potting Compound Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Potting Compound Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Potting Compound Industry Report
Statistics for the 2024 Potting Compound market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Potting Compound analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
