Global Potting Compound Market: Overview
Potting compounds are the compounds that are used to encapsulate all the electronic components in one assembly or casing. Their primary function is to keep the components together and protect them from the damages that may occur due to shocks while maintaining the quality. Some of the examples of potting compounds available in the market today are Epoxy, Silicone, and polyurethane. As a result of the criticality in electronic industries today, the global potting compound market is experiencing major growth. Also, the growth of the market is attributed to quality maintenance these compounds offer to various businesses in the electronics industry.
A report by Transparency Market Research (TMR) provides a detailed global potting compound market. According to the report, the market tends to experience remarkable growth in the coming years. It offers crucial insights on various facets of the market including key trends, notable developments, competitive landscape, and regional dominance of the global potting compound market.
Is something restraining your company’s growth in the Potting Compound market? Ask for the report brochure here
Global Potting Compound Market: Notable Developments
The competitive scenario of the global potting compound is highly fragmented. There are major players who are influencing the dynamics of the market. In order to stay ahead in the competition, the players are adopting strategies such as mergers, collaborations, and partnerships. Some businesses in global potting compounds market are also acquiring various small and medium scale businesses to gain a competitive edge over competitors and expand their production. It also allows the businesses to utilize the acquired company’s resources and market reach resulting in great control over the global potting compounds market.
Some of the major players of the global potting compound market are Huntsman Advanced Materials, Wacker-Chemie, HItach Chemical LLC, Aremco Products, Inc., DowDuPont Inc, The 3M Company, and Henkel AG & Co. KGaA. Some other players of the market are Lord Corporation, RBC Industries, Master Bond, Inc., and Shanghai Sepna Chemical Technology Co. Ltd.
Global Potting Compound Market: Key Drivers
The growing need of potting compounds in various end-use industries such as automotive, aviation, and marine is the prime factor that is boosting the global potting compound market in the forecast period. Additionally, numerous applications in electronic industries such as beam bonded components, surface mount packaging, and microprocessors are some other factors that are influencing the growth of the global potting compound market.
Also, numerous spending by various end-use industries including customer electronics and transportation is helping the global potting compound market to grow robustly in the forecast period. Moreover, the rising demand for electronic devices miniaturization is also one of the prominent factors that are supporting the global potting compound market to grow in the forecast period.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Potting Compound market here
Global Potting Compound Market: Regional Analysis
The global potting compound market has its presence in regions such as North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these regions, Asia Pacific is likely to dominate the global potting compound market in the forecast period from 2018 to 2026. The region is projected to show faster growth in terms of revenue and volume. The growth shall be attributed to the rising adoption of potting compounds in various electronics and electric application is the major reason for the growth of the potting compound market in the regions. The growth of the region in the potting compound market is also the result of major industrial development in countries like China, Japan, and South Korea.
Finally, the rising concerns to keep the electronic and electrical components safe from various shocks while transporting the devices is yet again the prime reason for the growth of the market.