The encapsulant market is poised to reach a valuation of USD 4.1 billion by 2024, with an estimated market worth of USD 9.5 billion by 2034, projecting a notable CAGR of 8.7%. This market plays a pivotal role across various industries, including electronics, automotive, and renewable energy. Encapsulants serve as crucial materials utilized to safeguard and enhance the reliability of electronic components, solar photovoltaic (PV) modules, and other devices by furnishing insulation, moisture resistance, and mechanical support.
In the electronics sector, encapsulants serve the critical function of shielding sensitive electronic components against environmental factors such as moisture, dust, and mechanical stress. They find application across a broad spectrum, spanning from semiconductors and printed circuit boards to automotive electronics and consumer devices. Encapsulants play a vital role in ensuring the long-term reliability and performance of electronic products, thereby establishing themselves as indispensable components in contemporary technology.
Request Your Sample Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-19086
In the renewable energy sector, encapsulants are primarily used in solar PV modules to encapsulate and protect solar cells from moisture, UV radiation, and mechanical damage. Encapsulants help prolong solar panels lifespan and maintain their efficiency over time. With the increasing adoption of solar energy as a clean and sustainable power source, the demand for encapsulants is rising.
The automotive industry also relies on encapsulants for various applications, including automotive electronics, sensors, and control units. Encapsulants protect against harsh operating conditions, vibration, and thermal cycling, ensuring the reliability and durability of automotive components.
The encapsulant market is driven by technological advancements, increasing demand for electronic devices and renewable energy solutions, and stringent regulatory requirements for product safety and environmental compliance. Manufacturers are focusing on developing innovative encapsulant materials with improved properties such as enhanced thermal conductivity, flame retardancy, and eco-friendliness to meet the evolving needs of different industries.
“The increasing demand for solar photovoltaic (PV) panels is one significant driver for the encapsulant market,” – says FMI analyst.
Key Takeaways from the Market Study
- Under curing type, the room temperature registered to expand at 8.6% CAGR by 2034.
- The United Kingdom is estimated to register at a CAGR of 9.7% by 2034.
- China experiences significant growth, projected at a CAGR of 9.4% by 2034.
- Based on the chemistry, the epoxy segment is anticipated to expand at 8.4% CAGR by 2034.
Competitive Landscape
The encapsulant market companies compete on product quality, innovation, pricing, and global presence. There are numerous smaller players and regional manufacturers contributing to market diversity.
Strategic alliances, mergers, acquisitions, and investments in research and development are common strategies employed to gain a competitive edge in this dynamic market.
Key Companies Profiled
- Encapsys LLC
- Lycored
- TasteTech
- Givaudan
- Balchem Inc.
- FrieslandCampina
- BASF SE
- DSM
- Microtek Laboratories, Inc.
- Legris Industries Group
Some of the key developments are:
- On February 2023, H.B. Fuller participated in INDEX™23, a prominent nonwoven exhibition, unveiling its “Grow in the Now” vision for hygiene manufacturers. The company emphasized collaboration, innovation, and sustainability in its presentation, aiming to advance solutions for the hygiene and nonwoven industry.
- On January 2023, H.B. Fuller launched Swift®melt 1515-I, its inaugural bio-compatible product compliant in IMEA (India, Middle East, and Africa). Tailored for microporous medical tape applications, it addresses unique climatic challenges in the Indian sub-continent, such as high temperatures and humidity.
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights!
https://www.futuremarketinsights.com/checkout/19086
More Valuable Insights Available
Future Market Insights offers an unbiased global encapsulant market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the encapsulant market is segmented based on Curing Type (Room Temperature, UV, Heat Temperature), Chemistry (Epoxy, Urethane, Silicone), End-Use Industry (Consumer Electronics, Medical, Energy & Power, Transportation), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube