The Encapsulation Resins Global Market Report 2023, provides comprehensive information on the encapsulation resins market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Encapsulation Resins Global Market Report 2023, the market is expected to grow from $4.05 billion in 2022 to $4.26 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The encapsulation resins market is expected to reach $5.04 billion in 2027 at a CAGR of 4.3%.
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Product innovations are a key trend gaining popularity in the encapsulation resins market. Major companies operating in the encapsulation resins market are developing technological solutions to sustain their position in the market. For instance, in August 2020, Electrolube Limited, a UK-based producer of encapsulation resins, developed essential thermal management and encapsulating resin solutions for battery protection, such as the thermal gap filler GF400, the non-silicone heat transfer compound HTCPX, the thermally conductive epoxy potting compound ER2221, and the soft polyurethane resin UR5044. The GF400 thermal gap filler has exceptional thermal performance at 4.0 W/m and is a very efficient heat transfer solution. A thick liquid with minimal component stress, GF400 is simple to apply around variously shaped housings. The HTCPX non-silicone heat transfer compound Plus Xtra from Electrolube offers the highest level of thermal conductivity in addition to the benefit of utilizing a non-silicone base oil. The company’s thermally conductive epoxy potting compound, ER2221, is a highly thermally conductive resin with low viscosity, ideal for potting cells into electric vehicle batteries to extend battery life and increase efficiency. High-performance potting compound UR5044, which is soft and detachable, enables simple field repair and rework with user-friendly resin packs.
The encapsulation resins market 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 2022.
The table of contents in TBRC’s encapsulation resins market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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