LONDON--(BUSINESS WIRE)--Technavio projects the global potting compounds market to post a CAGR of close to 4% during the forecast period. The increased demand for better barrier protection is a key driver, which is expected to impact market growth.
Potting compounds are used for curing and encapsulation of electronics and electricals. They provide protection from moisture, chemicals, shock, voltage discharge, vibration, and physical damage. Epoxy resins are one of the best barrier protector resins, as they provide good adhesion and high temperature and chemical resistance. Another advantage of epoxy resins is that they adhere to a range of substrates without the need of primers. Similarly, other resins such as polyurethane and silicone resins provide high barrier protection, which make them ideal as potting compounds. These properties are driving the demand for potting compounds globally.
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In this report, Technavio highlights the introduction of medical-grade potting compounds as one of the key trends to drive global potting compounds market:
Introduction of medical-grade potting compounds
Recently, manufacturers of potting compounds have launched a biocompatible epoxy adhesive, which is suitable for potting and encapsulation, for bonding temperature sensitive substrates. The chemical resistance of this adhesive is higher than other common cleaning agents that are used for medical devices such as isopropyl alcohol. The biocompatible adhesive is devoid of solvents and can be used for a range of substrates such as glass, ceramics, metals, polystyrene, and polyurethane. It also has a special heat-curing mechanism for "shadowed out" areas. This acts as an add-on to the current potting compounds.
According to a senior analyst at Technavio for plastics, polymers, and elastomers research, “The biocompatible epoxy systems exhibit dimensional stability along with a low coefficient of thermal expansion, consistency, and impressive dielectric characteristics for potting or encapsulation. Thus, this trend is expected to drive the demand and innovation in the field of potting compounds.”
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Market segmentation and analysis through 2022
This market research report segments the by application (electronics and electricals), by product (epoxy resins, silicone resins, polyurethane resins, polyesters, and polyamides) and key regions (the Americas, APAC, and EMEA).
The epoxy resins segment dominated the global potting compounds market with a share of around 28%, followed by silicone resins as epoxy resins provide good adhesion and high temperature and chemical resistance. The market share of these two segments is expected to increase over the forecast period, while all the other product segments will witness a small decline in their market share.
In 2017, APAC dominated the market with a share of close to 41%, followed by the Americas and APAC. generated the highest revenue accounting for more than 45% share of the market. APAC is also the only region expected to witness an increase in its market share over the forecast period.
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