The global Silicone Potting Compounds Market is predicted to be valued at $1,267.6 million by 2028, surging from $900.5 million in 2020, at a noteworthy CAGR of 4.5%.

COVID-19 Impact on Silicone Potting Compounds Market

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However, some of the leading silicone Potting Compounds manufacturers have come forward to help the society in dealing with the uncertainties caused by the pandemic. For instance, Henkel, one of the top adhesives manufacturing company and silicone potting compounds manufacturer, launched global solidarity program in March 2020. This program aims to offer practical and financial support to its employees, customers, and communities. Also, the conductive inks offered by Henkel were used for the development of smart health patch for wireless and remote monitoring of COVID-19 patients.

Global Silicone Potting Compounds Market Analysis

Silicone potting compounds play a vital role in automotive sector as they are widely used in automotive interiors, exteriors, and internal engine compartments. Automotive vehicles are equipped with several electronic devices that need protection from UV radiation, shock, vibration, moisture, temperature variations, humidity, and others. Also, these components must be protected from water, acids, oil, and grease that can lead to corrosion and can affect the functioning of these devices. Hence, silicone potting compounds are in automotive vehicles that offer thermal flexibility, salt spray resistance, protection against moisture, humidity, and UV radiation. Also, silicone potting compounds offer mechanical rigidity and flexibility that can withstand vibrations and shocks. Also, it is safer material, low odor material, and has good adhesion. For instance, silicone potting compounds by Elantas, the leading manufacturer of insulating material, can be used in injection control, amplifier, airbag, light control module, window washer, power control, parking sensor, motor management, and other parts of the automotive vehicles. These aspects are anticipated to drive the silicone potting compounds market share during the forecast period.

However, silicone potting compounds are more expensive compared to epoxy and polyurethane potting compounds. Also, in some industries, silicone potting compounds are banned as the material can continue to out-gas after curing that leads to deposition of microscopic layers of silicone rubber on adjacent components. Such deposition may interfere with relay electrical contact and can affect the solderability. These factors are estimated to restrain the market demand during the analysis timeframe.

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Advantages offered by silicone potting compounds such as temperature resistance, water resistance, and optical & insulation properties are anticipated to generate excellent growth opportunities. Also, these compounds can be added with functional fillers to impart thermal, magnetic, and conductive properties. The color of these compounds can be customized based on end-use requirements and it can be opaque, transparent, or colored. Silicone potting compounds offer ease of repairability because if the component fail then only the potting glue needs to be replaced with the new one. Silicone potting compounds are soft after curing and show stable physicochemical properties along with having excellent resistance to high & low temperature variations. In addition, excellent insulating and electrical properties offer stability to the electronic components and improve the insulation between internal components and lines after potting.

Global Silicone Potting Compounds Market, Segmentation

The global silicone potting compounds market is segmented based on curing technology, end-use industry, and region.

Curing Technology:

The curing technology segment is further classified into UV curing, high temperature or thermal curing, and room temperature curing. Among these, the UV curing sub-segment is anticipated to have a dominant market share and shall surpass $694.0 million by 2028, with an increase from $471.5 million in 2020. UV curing technology is widely used as it has excellent adhesion, bond strength, and improves the chemical & scratch resistance properties. Also, it is environment-friendly technique because it requires less energy, and it is solvent-free technology. Less scrap is produced during the curing process which increases the yield rates. In addition, 2D and 3D geometries are possible with faster production speed and capacities. This curing technology is consistent and offers instant drying with minimum shrinkage compared to traditional curing technology that may incur up to 50% shrinkage after initial application. UV curing technology can be used for various applications across medical, dental, aerospace, military, fiber optics, electronics, labeling on products, ink-jet printing, and others. These factors are anticipated to boost the UV curing technology market share during the forecast period.

End-use Industry:

The end-use industry segment is further classified into electronics, automotive, aerospace, and others. Among these, the electronics sub-segment is anticipated to have a dominant market share and shall surpass $727.9 million by 2028, with an increase from $497.3 million in 2020. The use of silicone potting compounds in electronics sector is gaining huge popularity as these components need protection from harsh and challenging environmental conditions such as moisture, temperature, vibration, shock, corrosion. Silicone potting compounds act as a complete barrier and offer superior performance under extreme conditions that prevents device failure. Properties such as high chemical resistance, thermal conductivity, flame retardant, and elastomeric make silicone potting compounds popular across electronics sector. The industrial sector including forklifts, construction vehicles, and infrastructure electronics depend on silicone potting compounds as they protect the vulnerable parts from failure, thereby reducing the repair and replacement costs.

Region:

The silicone potting compounds market in the Asia-Pacific region is projected to witness rapid growth. This region’s market generated a revenue of $328.2 million in 2020 and is projected to reach up to $489.3 million by 2028. Asia-pacific silicone potting compounds market growth is majorly attributed to the growth of automotive and consumer electronics sector. For instance, China, Japan, and India are among top five that accounted for highest number of cars sold in 2020. Also, China is leading producer and exporter of cars to the world. In addition, the presence of leading electronic companies in this region namely Haier Group, Huawei Technologies, Fujitsu, Seiko Group, Sony, Konica Minolta, LG Electronics, Samsung, Logitech International, and others is anticipated to drive the demand for silicone potting compounds for electronics industry. Also, the electronics industry in India is one of the fastest growing industries in the world. This is majorly owing to Indian government initiatives such as Digital India, Make in India Initiative, and National Policy on Electronics (NPE) launched in 2019 which supports local manufacturing of electronic goods.

Key Players in the Global Silicone Potting Compounds Market

Some of the leading silicone potting compounds market players are

• Dow Silicones Corporation
• Dymax Corporation
• Henkel AG & Co. KGaA
• Elantas
• Master Bond Inc.
• LORD Corporation
• Novagard Solutions
• MG Chemicals
• CHT Group
• Hernon Manufacturing, INC.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

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