The global encapsulants market is estimated to be USD 1.26 Billion in 2017 and is projected to reach USD 1.64 Billion by 2022, at a CAGR of 5.5% from 2017 to 2022. The growth of advanced electronic packaging techniques is driving the encapsulants market in different end-use industries. The growing use of encapsulants in consumer electronics and transportation is also fueling the growth of the encapsulants market across the globe. Medical and energy & power are some of the end-user industries of encapsulants.
Based on chemistry, the epoxy segment is projected to lead the encapsulants market during the forecast period from 2017 to 2022. The properties of epoxy encapsulants include low cure shrinkage, compatibility with most materials, strength & durability, adhesion, resistance to corrosion & chemicals, and good electrical insulation. These properties make them suitable for many consumer and industrial applications.
Asia Pacific accounted for the largest share of the encapsulants market in 2016. The Asia Pacific encapsulants market is projected to grow at the highest CAGR between 2017 and 2022. China is the largest market for encapsulants in this region. In China and India, the demand for encapsulants is expected to increase during the forecast period owing to the growing demand for electronic devices in end-use industries, such as automotive and medical.
Key companies profiled in this research report on the encapsulants market include Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), and H.B. Fuller (US).
