The Global Encapsulation Resin Market Size accounted for USD 4.0 Billion in 2022 and is estimated to achieve a market size of USD 5.7 Billion by 2032 growing at a CAGR of 3.7% from 2023 to 2032.
Encapsulation Resin Market Highlights
- Global encapsulation resin market revenue is poised to garner USD 5.7 billion by 2032 with a CAGR of 3.7% from 2023 to 2032
- Asia-Pacific encapsulation resin market value occupied almost USD 1.5 billion in 2022
- Asia-Pacific encapsulation resin market growth will record a CAGR of over 4% from 2023 to 2032
- Among type, the epoxy resins sub-segment generated over US$ 1.4 billion revenue in 2022
- Based on end-use industry, the electronics sub-segment generated around 32% share in 2022
- Rise of the internet of things (IoT) is a popular encapsulation resin market trend that fuels the industry demand
![Encapsulation Resins Market Global Encapsulation Resin Market Dynamics](reportimages/f02927df28257fc065ae0d13e920aaca-1.jpg)
Encapsulation is the procedure of assembling an electronic device with a solid compound to protect it from corrosion, shock, moisture, and vibration. A variety of encapsulation resins such as polyurethane, epoxy, polyesters, silicone, and UV curing systems are used for the encapsulation procedure. Encapsulation resins are majorly used for various applications in the electronic and electrical industries. Encapsulation material for any device must be decided on its capability to work under heat and stress, and attain a low outgassing performance.
![Encapsulation Resin Industry Encapsulation Resin Market Insights](reportimages/Encapsulation-Resin-Market.jpg)
Global Encapsulation Resin Market Dynamics
Market Drivers
- Increasing demand from the electronics industry
- Growth in the automotive industry
- Rising demand for renewable energy
- Increasing demand for eco-friendly encapsulation resins
Market Restraints
- Volatility in raw material prices
- Limited product differentiation
- High production costs
Market Opportunities
- Growing demand for high-performance encapsulation resins
- Adoption of eco-friendly encapsulation resins
- Increasing use of automation and robotics in encapsulation processes
Encapsulation Resin Market Report Coverage
Market |
Encapsulation Resin Market |
Encapsulation Resin Market Size 2022 |
USD 4.0 Billion |
Encapsulation Resin Market Forecast 2032 |
USD 5.7 Billion |
Encapsulation Resin Market CAGR During 2023 - 2032 |
3.7% |
Encapsulation Resin Market Analysis Period |
2020 - 2032 |
Encapsulation Resin Market Base Year |
2022 |
Encapsulation Resin Market Forecast Data |
2023 - 2032 |
Segments Covered |
By Type, By Application, By End-Use Industry, And By Geography
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled |
ELANTAS GmbH, Henkel AG & Co. KGaA, Master Bond Inc., Dymax Corporation, MG Chemicals, LORD Corp, Robnor Resins Ltd, Aremco Products Inc., Shanghai Sepna Chemical Technology Co., and RBC Industries, Inc.
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Encapsulation Resin Market Insights
The global encapsulation resin market is driven by the growth in consumer electronics, industrial, and aerospace sectors. Moreover, the growing energy and power industry is also expected to boost the demand for encapsulation resins during the forecast period. Also, the thermal conductivity offered by encapsulation resins augments its demand. However, the special screening practice of encapsulation resins, which leads to additional cost is the major restraining factor for the market. Also, the matured electronic industry in developed economies of North America and Europe hampers the market growth for encapsulation resins. Nevertheless, the two-component polyurethane encapsulation resin is expected to provide major growth opportunities for manufacturers of encapsulation resins.
![Encapsulation Resin Market - Acumen Research and Consulting Encapsulation Resin Market Growth 2023 - 2032](reportimages/Discounted-Price-Template_2.jpg)
Encapsulation Resin Market, By Segmentation
The worldwide market for encapsulation resin is split based on type, application, end-use industry, and geography.
Encapsulation Resin Types
- Polyurethane Resins
- Epoxy Resins
- Silicone Resins
- Others
![Market for Encapsulation Resin Encapsulation Resin Market Drivers](reportimages/f02927df28257fc065ae0d13e920aaca-2.jpg)
According to an analysis of the encapsulation resin market, polyurethane resins are widely used in the electronics and automotive industries because of their excellent adhesion, flexibility, and resistance to chemicals and temperature changes. These resins are commonly used for potting, encapsulation, and coating applications and can be formulated as one-part or two-part systems.
Epoxy resins are also commonly used in the electronics industry due to their excellent electrical insulation properties, high strength, and durability. They're frequently used to encapsulate and pot electronic components like printed circuit boards and power supplies.
Silicone resins are widely used in the aerospace and construction industries due to their excellent thermal stability, water resistance, and UV resistance. They are also used in the electronics industry for high temperature and humidity resistance applications.
In some applications, other types of encapsulation resins, such as polyester and phenolic resins, are also used. However, in comparison to polyurethane, epoxy, and silicone resins, their market share is relatively small.
Encapsulation Resin Applications
- Dip Coating
- Spray Coating
- Potting
- Casting
According to market forecasts for encapsulation resins, potting and encapsulation are the two most commonly used applications of encapsulation resins, accounting for a significant share of the market.
The method of completely encapsulating an electronic component, such as a printed circuit board, in a protective resin is known as potting. This process protects the electronic component from moisture, dust, and other environmental factors that can damage it. Potting resins are widely used in the electronics industry, especially in applications requiring high levels of protection and durability.
The process of partially encapsulating an electronic component in a protective resin is known as encapsulation. This process offers excellent environmental protection while allowing for simple inspection and maintenance of the electronic component. Encapsulation resins are also widely used in the electronics industry, particularly in applications requiring both protection and accessibility.
Encapsulation Resin End-Use Industries
- Automotive
- Electronics
- Aerospace
- Construction
- Others
![Encapsulation Resin Market Size Encapsulation Resin Market Analysis Period](reportimages/f02927df28257fc065ae0d13e920aaca-3.jpg)
As per the encapsulation resin market forecast, the electronics industry is the largest and most significant end-use industry for encapsulation resins, accounting for a significant share of the market. Encapsulation resins are widely used in the electronics industry to protect and insulate electronic components such as printed circuit boards, sensors, and other electronic devices. The growing use of electronics in a variety of applications, including automotive, medical, and industrial equipment, is expected to drive demand for encapsulation resins in the electronics industry.
Another important end-use industry for encapsulation resins is the automotive industry. Encapsulation resins are used in a variety of automotive applications, including the potting of sensors, control units, and LED lights. Encapsulation resins are expected to be in high demand in the automotive industry due to rising demand for electric and hybrid vehicles.
Encapsulation Resin Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Encapsulation Resin Market Regional Analysis
The Asia-Pacific encapsulation resin market is the largest and is expected to grow significantly during the forecast period. The increasing demand for electronics and automotive industries, particularly in China, Japan, and India, is driving growth in this region. Rising construction investment and the development of new infrastructure projects are also expected to drive demand for encapsulation resins in the region.
North America and Europe are relatively well developed for encapsulation resins, with steady growth expected during the forecast period. The increasing demand for electronics, automotive, and aerospace industries is driving growth in these regions. Environmental and safety regulations are expected to increase demand for environmentally friendly encapsulation resins in these regions.
Encapsulation Resin Market Players
Some of the top encapsulation resin companies offered in the professional report include ELANTAS GmbH, Henkel AG & Co. KGaA, Master Bond Inc., Dymax Corporation, MG Chemicals, LORD Corp, Robnor Resins Ltd, Aremco Products Inc., Shanghai Sepna Chemical Technology Co., and RBC Industries, Inc.![Encapsulation Resin Market - Acumen Research and Consulting Encapsulation Resin Market Regional Analysis](reportimages/02_Why-Choose-Acumen-Research-and-Consulting.jpg)
CHAPTER 1. Industry Overview of Encapsulation Resin Market
1.1. Definition and Scope
1.1.1. Definition of Encapsulation Resin
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Encapsulation Resin Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Encapsulation Resin Market By Type
1.2.3. Encapsulation Resin Market By Application
1.2.4. Encapsulation Resin Market By End-Use Industry
1.2.5. Encapsulation Resin Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Encapsulation Resin Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Encapsulation Resin Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.8.3. Proportion of Manufacturing Cost Structure
3.8.3.1. Raw Material
3.8.3.2. Labor Cost
3.8.3.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2022
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2022
4.2. R&D Status of Major Manufacturers in 2022
CHAPTER 5. Encapsulation Resin Market By Type
5.1. Introduction
5.2. Encapsulation Resin Revenue By Type
5.2.1. Encapsulation Resin Revenue (USD Billion) and Forecast, By Type, 2020-2032
5.2.2. Polyurethane Resins
5.2.2.1. Polyurethane Resins Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
5.2.3. Epoxy Resins
5.2.3.1. Epoxy Resins Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
5.2.4. Silicone Resins
5.2.4.1. Silicone Resins Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
5.2.5. Others
5.2.5.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
CHAPTER 6. Encapsulation Resin Market By Application
6.1. Introduction
6.2. Encapsulation Resin Revenue By Application
6.2.1. Encapsulation Resin Revenue (USD Billion) and Forecast, By Application, 2020-2032
6.2.2. Dip Coating
6.2.2.1. Dip Coating Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
6.2.3. Spray Coating
6.2.3.1. Spray Coating Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
6.2.4. Potting
6.2.4.1. Potting Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
6.2.5. Casting
6.2.5.1. Casting Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
CHAPTER 7. Encapsulation Resin Market By End-Use Industry
7.1. Introduction
7.2. Encapsulation Resin Revenue By End-Use Industry
7.2.1. Encapsulation Resin Revenue (USD Billion) and Forecast, By End-Use Industry, 2020-2032
7.2.2. Automotive
7.2.2.1. Automotive Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
7.2.3. Electronics
7.2.3.1. Electronics Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
7.2.4. Aerospace
7.2.4.1. Aerospace Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
7.2.5. Construction
7.2.5.1. Construction Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
7.2.6. Others
7.2.6.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2020-2032
CHAPTER 8. North America Encapsulation Resin Market By Country
8.1. North America Encapsulation Resin Market Overview
8.2. U.S.
8.2.1. U.S. Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
8.2.2. U.S. Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
8.2.3. U.S. Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
8.3. Canada
8.3.1. Canada Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
8.3.2. Canada Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
8.3.3. Canada Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
8.4. North America PEST Analysis
CHAPTER 9. Europe Encapsulation Resin Market By Country
9.1. Europe Encapsulation Resin Market Overview
9.2. U.K.
9.2.1. U.K. Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
9.2.2. U.K. Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
9.2.3. U.K. Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
9.3. Germany
9.3.1. Germany Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
9.3.2. Germany Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
9.3.3. Germany Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
9.4. France
9.4.1. France Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
9.4.2. France Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
9.4.3. France Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
9.5. Spain
9.5.1. Spain Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
9.5.2. Spain Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
9.5.3. Spain Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
9.6. Rest of Europe
9.6.1. Rest of Europe Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
9.6.2. Rest of Europe Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
9.6.3. Rest of Europe Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
9.7. Europe PEST Analysis
CHAPTER 10. Asia Pacific Encapsulation Resin Market By Country
10.1. Asia Pacific Encapsulation Resin Market Overview
10.2. China
10.2.1. China Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.2.2. China Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.2.3. China Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.3. Japan
10.3.1. Japan Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.3.2. Japan Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.3.3. Japan Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.4. India
10.4.1. India Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.4.2. India Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.4.3. India Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.5. Australia
10.5.1. Australia Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.5.2. Australia Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.5.3. Australia Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.6. South Korea
10.6.1. South Korea Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.6.2. South Korea Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.6.3. South Korea Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.7. Rest of Asia-Pacific
10.7.1. Rest of Asia-Pacific Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
10.7.2. Rest of Asia-Pacific Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
10.7.3. Rest of Asia-Pacific Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
10.8. Asia Pacific PEST Analysis
CHAPTER 11. Latin America Encapsulation Resin Market By Country
11.1. Latin America Encapsulation Resin Market Overview
11.2. Brazil
11.2.1. Brazil Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
11.2.2. Brazil Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
11.2.3. Brazil Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
11.3. Mexico
11.3.1. Mexico Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
11.3.2. Mexico Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
11.3.3. Mexico Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
11.4. Rest of Latin America
11.4.1. Rest of Latin America Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
11.4.2. Rest of Latin America Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
11.4.3. Rest of Latin America Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
11.5. Latin America PEST Analysis
CHAPTER 12. Middle East & Africa Encapsulation Resin Market By Country
12.1. Middle East & Africa Encapsulation Resin Market Overview
12.2. GCC
12.2.1. GCC Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
12.2.2. GCC Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
12.2.3. GCC Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
12.3. South Africa
12.3.1. South Africa Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
12.3.2. South Africa Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
12.3.3. South Africa Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
12.4. Rest of Middle East & Africa
12.4.1. Rest of Middle East & Africa Encapsulation Resin Revenue (USD Billion) and Forecast By Type, 2020-2032
12.4.2. Rest of Middle East & Africa Encapsulation Resin Revenue (USD Billion) and Forecast By Application, 2020-2032
12.4.3. Rest of Middle East & Africa Encapsulation Resin Revenue (USD Billion) and Forecast By End-Use Industry, 2020-2032
12.5. Middle East & Africa PEST Analysis
CHAPTER 13. Player Analysis Of Encapsulation Resin Market
13.1. Encapsulation Resin Market Company Share Analysis
13.2. Competition Matrix
13.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2. New Product Launches and Product Enhancements
13.2.3. Mergers And Acquisition In Global Encapsulation Resin Market
13.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14. Company Profile
14.1. ELANTAS GmbH
14.1.1. Company Snapshot
14.1.2. Business Overview
14.1.3. Financial Overview
14.1.3.1. Revenue (USD Billion), 2022
14.1.3.2. ELANTAS GmbH 2022 Encapsulation Resin Business Regional Distribution
14.1.4. Product /Service and Specification
14.1.5. Recent Developments & Business Strategy
14.2. Henkel AG & Co. KGaA
14.3. Master Bond Inc.
14.4. Dymax Corporation
14.5. MG Chemicals
14.6. LORD Corp
14.7. Robnor Resins Ltd.
14.8. Aremco Products Inc.
14.9. Shanghai Sepna Chemical Technology Co.
14.10. RBC Industries, Inc.