Albany, NY -- (SBWIRE) -- 12/24/2018 -- As the need for mechanical protection of insulated printed circuit boards continue to increase, manufacturers are looking for lucrative options for encapsulating electronic products. Significant environmental challenges including general contamination, vibration, moisture and physical or thermal shock can disrupt the functioning of the electronic components and the printed circuit boards. Growing need for protecting the printed circuit boards has led to surge in demand for the encapsulation resins globally. Application of resins encapsulates the entire device, which forms a complete barrier from extreme environment conditions in order to offer superior performance.
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According to Transparency Market Research, the global market of encapsulation resins is expected to represent a value of over US$ 3,700 Mn by the end of 2026.
Electronic Industry to Impact Global Market Growth
With rapid expansion in the electronic industry, demand for the printed circuit boards in range of industrial, domestic, military and automotive products continues to increase. Growing need to ensure the dependability of critical devices has led the manufacturers to opt for the enhanced protective solutions such as encapsulation resins. Moreover, increasing number of potential requirements within the LED electronic products will further continue to rev up demand for the encapsulation resins in the electronic industry.
Application in Marine Products to Boost Sales
Growing need to protect the marine products from exposure to salt water is expected to boost sales of encapsulation resin products. Production of electronic devices for application in marine environment has led the manufacturers to focus on opting for innovative protection solutions such as epoxy resins. Manufacturers of the electronic devices for marine environment prefer using epoxy resins in order to protect the LED lights on the ship decks, under-water cable jointing and protection of sensor devices. These factors are expected to contribute towards the global market growth of encapsulation resins significantly during the forecast period.
Potting Compounds to Underscore Lucrative Growth Opportunities
As the need to protect the sensitive electronic components of products increases, manufacturers are focusing on implementing potting resins. Attributed to dielectric properties, thermal conductivity, mechanical strength, hardness, chemical resistance and shock resistance, preference for potting compounds will continue to remain high while manufacturing electronic products. Increasing production of electronic devices among the original equipment manufacturers is further expected to impact the global market growth of encapsulation resins positively.
Research and Development to Fuel Demand
Demand for the encapsulation resins is also expected to remain high attributed to surge in the research and development activities undertaken by the leading organizations and companies globally. Growing advancements in development of sensors for medical and research purposes has escalated demand for encapsulation resins. In order to offer enhanced and uninterrupted connectivity in the electronic products, manufacturers are focusing on developing innovative solutions such as smart passive sensors. Surge in demand for sensor products that offers prolonged services has led manufacturers of the electronic products to implement protective solutions such as encapsulating electronic components in resins. Moreover, as sensor devices translate the environmental and physical characteristics into electrical signal, demand for resins is expected to remain high.
Electronics & Electrical Components to Represent a Leading Segment
As the need to protect various electronic products against corrosion in the industrial environment arises, demand for epoxy resins is expected to remain high globally. On the basis of product type, the epoxy resins segment is expected to witness significant revenue growth, recording for a value of over US$ 1,000 Mn by the end of 2026. In contrary, the other resins product type segment is expected to register a robust CAGR during the forecast period.
Based on end use industries, the electronics & electrical components segment is expected to represent the highest revenue growth, accounting for a value of over US$ 900 Mn by the end of 2017. On the contrary, the others end use industries segment is expected to register a significant CAGR throughout the forecast period.
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Leading market players operating in the global market of encapsulation resins include Shin-Etsu Chemical Co. Ltd., Fuji Chemical Industrial Co., Ltd., Master Bond Inc., H. B. Fuller Company, Huntsman Corporation, Hitachi Chemical, Henkel ag & co. kgaa, Dow Chemical Company and ACC Silicones Ltd., BASF.