The global encapsulants market is estimated to be USD 1.26 billion in 2017 and is projected to reach USD 1.64 billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Encapsulants are one of the most widely used electronic protective materials. Encapsulation is carried out to provide electrical insulation for high voltage and to protect circuits and interconnections from thermal and mechanical stresses. It also isolates circuits from the harmful effects of moisture and other contaminants. Encapsulants are used in different end-use industries, such as automotive, medical, aerospace, telecommunications, energy & power, and industrial electronics.
The growth of advanced electronic packaging techniques and growing demand for miniaturization of electronic devices are expected to increase the demand of encapsulants across the globe. However, volatility in raw material prices and stringent government regulations to reduce VOC emissions may hamper the growth of the encapsulants market.
Asia Pacific accounted for the largest share of the encapsulants market in 2016. The Asia Pacific encapsulants market is projected to grow at the highest CAGR between 2017 and 2022. China is the largest market for encapsulants in this region. In China and India, the demand for encapsulants is expected to increase during the forecast period owing to the growing demand for electronic devices in end-use industries, such as automotive and medical.
Key companies profiled in this research report on the encapsulants market include Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), and H.B. Fuller (US).
