Encapsulants are materials that are used to shield and insulate semiconductor devices. They are typically applied in the form of a liquid or paste and cured to form a protective layer around the semiconductor. Encapsulants are used to protect semiconductors from damage caused by environmental factors such as moisture, chemicals, or dust. They also provide electrical insulation and reduce the possibility of short circuits. Factors driving this expansion include rising consumer electronics demand, expansion in the automotive industry, and increased adoption of artificial intelligence (AI) and Internet of Things (IoT) technology. The global encapsulants market is projected to reach USD 1.64 Billion by 2022, at a CAGR of 5.5%.
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The epoxy chemistry segment is projected to lead the encapsulants market during the forecast period.
The epoxy chemistry segment is expected to lead the encapsulants market during the forecast period. The superior properties of epoxy encapsulants, such as high dielectric strength, thermal and chemical resistance, and excellent adhesion, are expected to drive the segment. The rising demand for epoxy encapsulants in the automotive, electrical & electronics, and aerospace & defense industries is also expected to drive the growth of the epoxy chemistry segment during the forecast period.
The silicone segment held the largest share of the encapsulants market. This is due to silicone encapsulants’ properties, such as their ability to withstand extreme temperatures, UV radiation, and moisture, as well as their electrical insulating properties. Furthermore, rising demand from end-use industries such as consumer electronics, automotive, and healthcare has propelled the silicone encapsulants market forward.
The consumer electronics end-use industry segment is projected to grow at the highest CAGR during the forecast period.
Due to increased demand for consumer electronics such as smartphones, tablets, laptops, and wearables around the world, the consumer electronics end-use industry segment is expected to grow at the fastest compound annual growth rate (CAGR) during the forecast period. Rising disposable income, changing lifestyles, and technological advancement are driving the increased demand for these devices. Furthermore, the increasing adoption of 5G technology is expected to fuel demand for consumer electronics in the near future.
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The Asia Pacific encapsulants market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific encapsulants market is expanding due to rising demand from the region’s electronics industry, which is followed by North America and Europe. The region’s demand for encapsulants is being driven by rising demand for electric and hybrid vehicles, as well as rising consumer electronics products. Other factors driving the growth of the Asia Pacific encapsulants market include rising demand for encapsulants in the automotive industry and rising demand for renewable energy. The presence of many encapsulant manufacturers in the region is also helping to drive market growth. Furthermore, the growing use of encapsulants in the medical industry is expected to drive market growth in the region.
Key companies profiled in this research report on the encapsulants market include Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), H.B. Fuller (US) and others.
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