PCB Encapsulation Market worth $5.59 billion by 2029 - Exclusive Report by MarketsandMarkets™

22 Oct, 2024, 10:00 GMT

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DELRAY BEACH, Fla., Oct. 22, 2024 /PRNewswire/ -- The report "PCB Encapsulation Market by Resin Type (Epoxy, Acrylic), Curing Type (UV-Cure, Heat Cure, Room Temperature Cure), Application (Consumer Electronics, Automotive Electronics, Medical Devices), Product Type - Global Forecast to 2029", is projected to reach USD 5.59 billion by 2029, at a CAGR of 8.8% from USD 3.67 billion in 2024. Some of the major forces behind the growth of the PCB encapsulation market include miniaturization of electronics, coupled with increasing electronic functionality, requires them to be better shielded against trouble-free performance across multiple ambient and adverse environments.

Browse in-depth TOC on "PCB Encapsulation Market"257 – Tables58 – Figures240 – Pages

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The increasing requirement from the consumer side for high-quality and rugged electronics, such as smartphones, tablets, and wearables, has also turned into one of the major driving forces. Growing applications of electric vehicles and ADAS in the automotive sector further enhance the demand for reliable PCB protection, which must withstand challenging conditions. The industrial and aerospace industries also have a high demand for robust electronic systems working in extreme environments, thereby further boosting the market. Improvements in adhesive formulations about thermal stability, chemical resistance, and mechanical strength are critical for the growth of the market. Again, the growing adoption of IoT devices and rapid expansion of smart technologies across industries have surged the demand for appropriate PCB encapsulation. Large electronics manufacturing base and large investments in research and development, there is heavy market demand in the Asia-Pacific region. These, coupled with relentless innovation in adhesive technologies, are expected to keep the PCB encapsulation market on a strong growth path in the years ahead.

Epoxy by resin type is projected to be the fastest growing, in terms of value, during the forecast period.

Epoxy resin represents the fastest growing segment of the market in PCB encapsulation, since this segment has some unique properties and a wide scope of applications. Excellent mechanical strength, outstanding thermal stability, and great chemical resistance make epoxy resins highly suitable for protecting printed circuit boards in many kinds of challenging environments. Their bonding property is good enough to provide a solid bond to various substrate materials, hence improving lifetime and functionalities of electronic components. Besides, epoxy resins show excellent protection against water and their interaction with the environment, which is of concern to the life and reliability of PCBs used in consumer electronics, automotive, industrial, and aerospace applications. Versatility in such uses as potting compounds, encapsulants, and conformal coatings underlines the workability of epoxy resins for a plethora of protection needs. Besides, with the continuous improvement in formulations, more and more epoxy resin products come into being, which also supports their monopolistic domination. Combinations of these characteristics make the epoxy resins lead choice for protecting PCBs, hence gaining a huge market share and growing.

Conformal coatings segment is projected to be fastest growing weightlifting capacity, in terms of value, during the forecast period.

Conformal coatings have emerged as the fastest growing segment within PCB encapsulation due to their uniqueness in protection while maintaining the functionality and performance of an electronic component. These are thin-film materials that take shape on the contours of the PCB, providing better protection against moisture, dust, chemicals, and temperature variations. This is highly critical to guarantee the reliability and long life of electronic devices as they become more compact and complex in operation. There can be claimed to be a strong case for the growth of conformal coatings, with the ever-growing demand for high-performance consumer electronics in the form of smartphones, tablets, and wearable devices. Besides, the increasing electronics in the automotive industry, whether an electrical car or an autonomous driving, need strong PCB protection to ensure safety and reliability under severe operating conditions. Other major platforms for this growth have been industrial and aerospace applications, arising from the need for conformal coatings, to protect any sensitive electronic in unfriendly environments. These coatings which, by themselves are effective, are further enabled with the help of technological upgrades in the materials and the techniques with which they are used. Manufacturers have more reasons to be inclined towards using these coatings.

UV cure by application industry segment is projected to be largest, in terms of value, during the forecast period.

The UV cure adhesives segment is likely to show the fastest growth in the category of curing type in the PCB encapsulation market. This could be attributed to the several advantages these materials provide in efficiency, performance, and versatility. The property of these adhesives is that they have quick curing under ultraviolet radiation. Not only this makes the processing times much shorter as compared to traditional methods of curing, but it also enhances production efficiency and throughput, which has made them very attractive to manufacturers. In addition to the general-purpose use, it also provides very good adhesion, thermal stability, and chemical resistance to ensure protection of the PCBs reliably in harsh applications. Its curing process allows only the intended areas to be coated accurately, providing material and consistent protection throughout the entire PCB. The demand for high-performance electronic parts is expected to become evident because of the introduction of better products in the future, particularly for conditions in consumer electronics, automotive, and industrial applications. Adhesive solutions for such high-performance, efficient, and reliable adhesives, important to the function of the electronic parts, further drive the demand of UV cure adhesives. Improved UV-cure formulations have introduced advantages such as better flexibility and improved resistance to the environment, thus broadening their field of application. These, coupled with pressure for more effective and eco-friendly manufacturing processes, make UV cure adhesives the fastest-growing segment in the PCB encapsulation market.

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Asia-Pacific is expected to be the fastest market for PCB encapsulation market during the forecast period, in terms of value.

Asia-Pacific region the fastest-growing in the PCB encapsulation market. The region has a huge, well-established electronics manufacturing base. Countries that constitute this region, like China, Japan, South Korea, and Taiwan, are frontline countries when it comes to the production of consumer electronics, automotive electronics, and industrial electronic components. This high concentration of electronics manufacturing drives significant demand for PCB encapsulations. Added to this, the rapid economic growth in the Asia-Pacific region, coupled with increasing urbanization, resulted in high adoption rates for the advanced electronic devices and hence provided a further boost to the market. This region also benefits from massive investments made in research and development that lead to innovation in adhesives technologies and processes associated with their production. Furthermore, the rapid rise of the automotive industries in countries such as China and India increase the production volume of electric vehicles, thereby boosting the demand for reliable PCB protection solutions. These are some of the factors that make Asia-Pacific a prominent growth driver for the global PCB encapsulation market.

Key Players:

The key players in this market Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Parker-Hannifin Corporation (US), Dow (US), DuPont (US), Nagase ChemteX Corporation (Japan), Huntsman International LLC (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd., (Japan) Panacol-Elosol GmbH (Germany).

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