Potting Compound Market Type
Key factors fueling the market include the growth of the consumer electronics industry, the trend toward miniaturization. WILMINGTON, DE, UNITED STATES, September 14, 2024 /EINPresswire.com/ -- The global potting compound market, valued at $3.1 billion in 2019, is projected to reach $4.1 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027, according to a report by Allied Market Research. This report offers in-depth analysis of evolving market trends, investment hotspots, winning strategies, and competitive dynamics.
Market Drivers and Opportunities
Key factors fueling the market include the growth of the consumer electronics industry, the trend toward miniaturization, and the increasing use of potting compounds in electronic applications. However, improper selection of potting resins poses a challenge to market growth. On the positive side, the adoption of two-component polyurethane potting compounds is expected to unlock new opportunities in the coming years.
Market Segmentation
- Resin Type: The silicone segment held the largest share in 2019, accounting for nearly one-third of the market. Meanwhile, the polyester segment is expected to grow at the fastest rate, with a CAGR of 4.4% from 2020 to 2027.
- Application: The electrical segment dominated the market, contributing over half of the total market share in 2019, and is expected to maintain its position through 2027. The electronic segment is anticipated to grow at the highest CAGR of 4.5% during the forecast period.
- Regional Insights: Asia-Pacific led the market in 2019, contributing nearly half of the global market share, and is expected to continue its dominance with the fastest growth rate of 4.8% CAGR through 2027. Other regions analyzed include North America, Europe, and LAMEA.
Leading Market Players:
Top companies in the market include:
- Altana AG - Dow, Inc. - Henkel AG & Co. KGaA - Huntsman International LLC - 3M - Wacker Chemie AG - And more.
𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/potting-compounds-market
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David CorreaAllied Market Research+1 800-792-5285email us hereVisit us on social media:FacebookX
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September 14, 2024, 14:23 GMT
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