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Global Encapsulant Market
Global Encapsulant Market was valued at 1.40 billion in 2018 and is anticipated to reach 2.17 billion by 2026 at a CAGR of 5.6%.
Encapsulant offers additional protection to the electronics components. Encapsulant is considered to be the better alternative in manufacturing processes used through automated dispensing equipment. Expanding consumer demand for electronics equipment and accumulative reach of technology in everyday life are factors for the growth of the encapsulant market. The rapid growth of solar photovoltaic panel market provides an opportunity for encapsulant market.
In the encapsulant market, silicone within chemistry segment will grow at the highest CAGR. Demand for electronic devices as well as commercialization of electric vehicles is driving the silicone segment in encapsulant market. By curing type room temperature segment is projected to grow at the highest rate. In curing type segment due to easy processing along with high reliability will further boost the demand for encapsulant market.
The Asia Pacific holds the major share of the market. Growth of the manufacturing sector and availability ...
... of cheap labour are key factors to drive the growth of encapsulant market in the Asia Pacific region. In addition to this, the presence of a large number of electronics companies and extending demand for consumer electronics are further boosting encapsulant market led by countries like China and India. Asia-Pacific is followed by North America.
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