Global Potting Compound Market Size, Share & Trends Analysis Report By Application, By Curing Technology (UV Curing, Thermal Curing, and Room Temperature Curing), By End User, By Resin Type, By Regional Outlook and Forecast, 2023 - 2030

Global Potting Compound Market Size, Share & Trends Analysis Report By Application, By Curing Technology (UV Curing, Thermal Curing, and Room Temperature Curing), By End User, By Resin Type, By Regional Outlook and Forecast, 2023 - 2030

The Global Potting Compound Market size is expected to reach $4.4 billion by 2030, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 914.21 kilo tonnes, experiencing a growth of 3.4% (2019-2022).

Polyurethane potting compounds resist water, moisture, and chemicals, making them suitable for outdoor, marine, and corrosive environments. Thus, the polyurethane segment captured 22.3% revenue share in the market 2022. hydrophobic nature of polyurethane prevents water ingress and moisture absorption, protecting electronic components from corrosion and degradation. This property is particularly beneficial in applications exposed to harsh weather conditions, chemicals, and environmental contaminants.

Potting compounds effectively protect against environmental factors, preventing corrosion, moisture ingress, and mechanical damage to electronic components, extending their lifespan, and ensuring uninterrupted operation of 5G networks.

Additionally, it encapsulates electronic components in transportation applications, ensuring reliability and performance in demanding environments. The construction industry is adopting automation and smart building technologies to improve construction processes, energy efficiency, and building performance. HVAC (heating, ventilation, and air conditioning) systems, security, and access control are just a few of the electronic components used in building automation.

However, Potting compound manufacturers may face unpredictability in the cost of production due to fluctuations in raw material prices. Sudden increases in raw material prices can result in higher production expenses, squeezing profit margins and potentially making it difficult for manufacturers to maintain competitive pricing. Thus, fluctuations in raw material prices can slow down the growth of the market.

By Application Analysis

On the basis of application, the market is bifurcated into electrical and electronics. In 2022, the electrical segment captured 54.1% revenue share. The electrical segment encompasses a diverse range of applications with unique requirements for encapsulation solutions.

By Curing Technology Analysis

Based on curing technology, the market is classified into UV curing, thermal curing, and room temperature curing. In 2022, the UV curing segment witnessed 56.8% revenue share in the potting compound market. UV curing potting compounds offer exceptionally fast cure times compared to traditional thermal curing systems.

By End User Analysis

By end user, the market is divided into electronics, aerospace, automotive, industrial, and others. The automotive segment covered 16.5% revenue share in the market in 2022. Automotive applications involve constant exposure to vibrations, shocks, and mechanical stress caused by road conditions, engine operation, and vehicle movement.

By Resin Type Analysis

By resin type, the market is categorized into epoxy, polyurethane, silicone, polyester, polyamide, polyolefin, and acrylics. The silicone segment acquired 28.7% revenue share in the potting compound market in 2022. In terms of volume the Silicone segment attained 169.47 kilo tonnes in the market 2022. Silicone potting compounds exhibit a wide operating temperature range, from extreme cold to high heat.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired 27.3% revenue share in the market. North America has a robust electronics industry encompassing consumer electronics, automotive electronics, telecommunications, industrial automation, and aerospace sectors.

Recent Strategies Deployed in the Market

• Dec-2023: WEVO-CHEMIE GmbH introduced "thermally conductive potting compounds and gap fillers". The epoxy resin- and silicone-based materials offer protection against electrochemical corrosion and ensure dependable electrical insulation owing to their low ion content.
• May-2023: The Dow Chemical Company came into partnership with New Energy Blue LLC, a service for renewable company. Through this partnership, The Dow Chemical Company would facilitate a new ethanol manufacturing plant in Lowa.
• Jun-2022: Dymax Corporation came into a partnership with Quantum Systems, an aviation and aerospace component manufacturing company. Through this partnership, Dymax Corporation would offer a unified platform for automated dispensing, coating, curing, and materials solutions.
• Aug-2021: The Dow Chemical Company introduced "MobilityScience™" to aid in the advancement of cutting-edge transportation technologies. MobilityScience™ Studios delivers solutions to customers, spanning from tailored product formulations to the implementation of production lines.
• Jan-2021: The Dow Chemical Company took over Laird Performance Materials, a world leader in high-performance electromagnetic shielding and thermal management solutions. Through this acquisition, The Dow Chemical Company would position itself as a key ally for major electronics OEMs, merging expertise in applied materials science with application engineering capabilities.

List of Key Companies Profiled

• The Dow Chemical Company
• Dymax Corporation
• Henkel AG & Company, KGaA
• Huntsman Corporation
• MG Chemicals
• Wacker Chemie AG
• 3M Company
• WEVO-CHEMIE GmbH
• Shanghai SEPNA Chemical Technology Co., Ltd.
• Master Bond Inc.

Global Potting Compound Market Report Segmentation

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Electrical
• Electronics

By Curing Technology

• UV Curing
• Thermal Curing
• Room Temperature Curing

By End User (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Electronics
• Aerospace
• Automotive
• Industrial
• Others

By Resin Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Silicone
• Epoxy
• Polyurethane
• Polyester
• Polyamide
• Polyolefin
• Acrylics

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA