Potting Compound Market Estimated huge growth at a CAGR of 3.7% by 2021
The Global Potting Compound Market size, in terms of value, is projected to reach USD 3.13 Billion by 2021, at a CAGR of 3.7% between 2016 and 2021. The high demand from the electronics industry, increasing miniaturization of electronic devices and continuous new product launches and expansion activities undertaken by different companies are the key factors for the growth of the global market.
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Epoxy resins are the most-widely used potting compound. These compounds generally have better adhesion, high temperature resistance & chemical resistance, higher rigidity, modulus & tensile strength, and very good moisture resistance. This makes it an excellent option for outdoor applications. Epoxies have excellent dielectric properties and are used extensively in potting transformers and switches. Epoxy resins have been widely used for the electronics application as they are generally hard, tough, and exhibit low shrinkage on cure.
The electronics sector is the largest application for potting compound globally. Potting compounds are used to protect, insulate, and conceal circuitry, components, and devices. They are formulated to meet the requirements of many demanding applications in the electronics and electrical sector such as consumer electronics, transportation, aviation, marine, energy & power, solar power, and others. Potting in both electronic and electrical applications are done to reduce internal stress, achieve excellent dielectric properties, electrical insulation, thermal conductivity, thermal shock resistance, mechanical strength, adhesion, hardness, cure speed, and chemical resistance.
Major players in Potting Compound Market such as ACC Silicones Ltd. (U.K.), Dymax Corporation (U.S.), EFI Polymers (U.S.), Elantas Beck India Ltd. (India), Electrolube (U.K.), Epic Resins (U.S.), Intertronics (U.K.), Master Bond Inc. (U.S.), MG Chemicals (Canada), and Henkel AG & Co. KGaA (Germany) have adopted various organic developmental strategies.
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