The demand in the global epoxy encapsulation material market is expected to exhibit growth at robust CAGR of 6% to 7% during the forecast period 2022-2032. Rapid expansion of the consumer electronics sector and growing usage of semiconductors across diverse applications is estimated to augment the sales of epoxy encapsulation material in the global market.
| Report Attribute | Details |
| Epoxy Encapsulation Market Projected Growth Rate (2022-2032) | 6% to 7% CAGR |
Epoxy encapsulation material is an epoxy resin used for encapsulating numerous electric and electronic components such as semiconductors, printed circuits, copper-clad laminates, and others. These encapsulation materials are designed to insulate and protect numerous components from harsh weather conditions and challenging environments including external temperature change, physical shock, vibration, moisture, and general contaminants.
The material is finding a wide range of applications in numerous devices, equipment, and systems, where electric components are employed, such as consumer home appliances, including television sets, microwaves, air conditioners, refrigerators, and many others.
With prominent economies inclining towards digitalization, a rapid increase in development is being witnessed in the field of information technology (IT) infrastructure. To match this progress, the introduction of innovative electronic products are picking pace, which is in turn, creating demand for epoxy encapsulation materials in the global market.
In addition to this, there is a significant rise in sales of mobile technologies such as smartphones, tablets, laptops, and others across the globe, owing to growing demand for advanced communication technologies and rising introduction of new products with innovative features.
For instance, according to the India Brand Equity Foundation, around 173 Mn units of smartphones were predicted to be sold across India in 2021, exhibiting a 14% growth as compared to the sales in the year 2020. As epoxy encapsulation materials are extensively used for encapsulating semiconductors deployed in these mobile technologies, growing sales of smartphones are expected to bolster the demand in the global market.
High risk of complications and irritation in the lungs, throat, and nose due to inhaling epoxy fumes, resulting in inflammation and asthma is one of the primary factors hampering the sales of epoxy encapsulation materials in the global market.
Furthermore, increase in the overall cost of the product, owing to the adoption of expensive encapsulating and screening processes using epoxy encapsulation materials is restraining the growth in the market.
As per a study by Future Market Insights, South East Asia Pacific is anticipated to exhibit robust growth in the global epoxy encapsulation materials market between 2022 and 2032.
Due to the surging trend of industrial automation and rapid urbanization across Asia Pacific, there is a substantial rise in demand for efficient power transmission and distribution infrastructure. Hence, governments in several countries are focusing on undertaking a number of initiatives for upgrading power infrastructures.
For instance, according to the India Smart Grid Forum, the Government of India announced the allocation of US$ 129.9 Mn under the National Smart Grid Mission for the development transforming the country's power infrastructure. Epoxy encapsulation materials play a crucial role in protecting electric components such as printed circuits used in smart grids, such developments are expected to favor the growth in the South East Asia Pacific market.
FMI reveals that North America is projected to account for a significant share in the global epoxy encapsulation materials market during the forecast period 2022-2032.
A significant rise in customer inclination towards the adoption of electric vehicles is being witnessed across North America, owing to the deepening trend of electrification, rising regulations regarding carbon emission, and increasing fuel prices.
This, in addition to growing introduction of novel self-charging electric cars, the sales of electric vehicles are accelerating at a robust pace. As encapsulation semiconductors, printed circuits, and other automotive components are deployed in these automobiles, rising sales of electric vehicles are estimated to augment the growth in the North America market.
Some of the leading players in the epoxy encapsulation material market are Sumitomo Bakelite, Hysol Huawei Electronics, Hexion, Shin-Etsu Chemical, Hitachi Chemical, Chang Chun Group, Eternal Materials, Tianjin Kaihua Insulating Material, Jiangsu Zhongpeng New Material, and others.
Key participants in the global market are adoption of such as collaboration, agreement, merger, and acquisition with other industry players to expand their revenue share in the highly competitive market.
| Report Attribute | Details |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the sales of epoxy encapsulation material in the market is expected to rise at a remarkable value CAGR by 2032
The global epoxy encapsulation material market is expected to be dominated by Asia Pacific excluding Japan over the forecast period 2022-2032.
Sumitomo Bakelite, Hysol Huawei Electronics, Hexion, Shin-Etsu Chemical, Hitachi Chemical, Chang Chun Group, Eternal Materials, Tianjin Kaihua Insulating Material, Jiangsu Zhongpeng New Material, and others are some of the leading players in the prominent epoxy encapsulation material market.
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Epoxy Encapsulation Material Market
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