Wildlife Encapsulation Resins Market 2024 | Market Brief Analysis, Market Size, Top Leading Companies, Share, Segmentati

Overview and Scope
Encapsulation resins refer to materials and resin systems that protect and insulate electronic components and printed circuit boards (PCBs). They provide a protective layer that shields the components from moisture, chemicals, mechanical stress, and other environmental factors.

Sizing and Forecast
The encapsulation resins market size has grown steadily in recent years. It will grow from $4.26 billion in 2023 to $4.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to electronics industry growth, increasing use in automotive electronics, rise in renewable energy applications, growing demand in aerospace and defense.

The encapsulation resins market size is expected to see steady growth in the next few years. It will grow to $5.3 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to expansion of electric vehicles (evs), increasing use in 5g technology, emergence of internet of things (iot), growth in medical electronics, focus on sustainable and eco-friendly formulations. Major trends in the forecast period include product innovations, focus on environmentally friendly resins, adoption of uv-curable resins, demand for high thermal conductivity resins, customization for specific applications.

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Segmentation & Regional Insights
The encapsulation resins market covered in this report is segmented –
1) By Resin Type: Epoxy Resins, Polyurethane Resins, Silicone resins, Other Resins
2) By Application: Transformers, Sensors, Switchgears, Insulators, Capacitors, Relays And Coils, Adhesives And Sealants, Other Applications
3) By End-Use Industry: Building And Construction, Automotive, Transportation, Electrical And Electronics, Marine, Other End-Users

North America was the largest region in the encapsulation resins market in 2023. The regions covered in the encapsulation resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing use of electric vehicles is expected to propel the growth of the encapsulation resins market going forward. An electric vehicle refers to an automobile that has an electric motor capable of drawing power from a battery and having the ability to receive external charging. In electric vehicles, encapsulation resins encapsulate electric motors by providing electrical insulation, thermal dissipation, and handling the NVH (Noise, Vibration, and Harshness) level. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric vehicle sales climbed by 4% in 2021. Sales nearly double to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing use of electric vehicles is driving the growth of the encapsulation resins market.

Key Industry Players
Major companies operating in the encapsulation resins market report are Hitachi Chemical Co. Ltd., Dow (The Dow Chemical Company), 3M Company, Henkel AG & Co. KGaA, BASF SE, Shin-Etsu Chemical Co. Ltd., Arkema Group, Huntsman International LLC, Givaudan SA, H.B. Fuller Company, ELANTAS GmbH, LORD Corporation, Momentive Performance Materials Inc., Dymax Corporation, Optics Balzers AG, Electrolube Ltd., Epoxy Technology Inc., NAGASE ChemteX Corporation, Panacol-Elosol GmbH, RBC Industries Inc., Robnor ResinLab Ltd., MG Chemicals Ltd., Coatema Coating Machinery GmbH, Master Bond Inc., Mereco Technologies Group Inc., ACCRAbond Corporation.

The encapsulation resins market report table of contents includes:
1. Executive Summary
2. Encapsulation Resins Market Characteristics
3. Encapsulation Resins Market Trends And Strategies
4. Encapsulation Resins Market - Macro Economic Scenario
5. Global Encapsulation Resins Market Size and Growth

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32. Global Encapsulation Resins Market Competitive Benchmarking
33. Global Encapsulation Resins Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Encapsulation Resins Market
35. Encapsulation Resins Market Future Outlook and Potential Analysis
36. Appendix

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