New York, USA, June 01, 2022 (GLOBE NEWSWIRE) -- A new report on the North America potting compound market has been added by Research Dive to its repository. According to the report, the market is expected to hit $931 million by 2025, rising at a CAGR of 3.2% from 2018 to 2025. This report is an in-depth study offering meticulous insights into the present situation and future scope of the industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the North America Potting Compound Market Growth:
Growing technological developments in the surface mount packages sector and growing applications of potting compounds in the electronics sector are boosting the demand for potting compounds are the main factors propelling the growth of the North America potting compound market. Additionally, the rising investments by market players in R&D activities for potting compound products is projected to bring in beneficial growth opportunities for the market in the forecast period. However, strict rules regarding the decrease of VOC (Volatile Organic Compounds) emissions is projected to impede the growth of the market.
The report segments the North America potting compound market into resin type, curing technique, application, end use, and region.
Polyester Resin Sub-Segment to Lead the Market
Among the resin type segment, the polyester resin sub-segment is expected to record highest CAGR during the forecast period. The growth of this sub-segment is mostly because of the growing demand for polyester resin potting compounds in different application areas.
UV Curing Technique Sub-Segment to Dominate the Market
Among the curing technique segment, the UV curing technique sub-segment is expected to lead the market during the forecast period. The growth of this sub-segment is mostly because of the growing preference for UV curing technique in potting compounds.
Surface Mount Packages Sub-Segment to Observe Noteworthy Growth
Among the application segment, the surface mount packages sub-segment is projected to grab leading share of the North America potting compound market during the estimated timeframe. This is mostly because of the growing demand for potting compounds in the surface mount packages in electronics industries.
Electronic Sub-Segment to Perceive Remarkable Growth
Among the end use segment, the electronics sub-segment is estimated to dominate the North America potting compound market during the projected timeframe. This is mostly because of the growing demand for potting compounds owing to their various beneficial properties in the electronics sector.
The U.S. Potting Compound Market to Observe Leading Growth
The report analyses the North America potting compound market across several countries such as Canada, the U.S., and Mexico. Among these, the U.S. market is expected to lead the market during the estimated timeframe. The growth of this region market is mainly because of the surging developments in the automotive and electronics industries in this nation.
Major Players in the North America Potting Compound Market:
The report lists some of the leading players functioning in the North America potting compound industry including
- Henkel AG & Co.KGaA
- Wacker Chemie AG
- H.B. Fuller Company
- ELANTAS GmbH
- MG Chemicals
- LORD Corporation
- Dymax Corporation
- Robnor ResinLab Ltd
- Huntsman International LLC.
- Solvay
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the industry. For instance, in May 2021, HZO, a leading provider of first-rate nanocoatings that safeguard electrical, electronic products, and critical applications, announced strategic alliance with Dymax, a global leader in the production of rapid light-cure adhesives, potting compounds, conformal coatings, and complementary dispensing as well as curing equipment. This partnership will strengthen the position of both the companies and help in fulfilling the growing market demand for protective coatings. Such initiatives by market players are expected to propel the market growth in the forthcoming years.
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