Silicone Encapsulants Market Analysis 2021-2031 | Trends
The Silicone Encapsulants Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on type (general encapsulant, optically clear encapsulant, and thermally conductive encapsulant). The report is segmented by application (electricals and electronics, automobiles, optics, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Silicone Encapsulants Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Silicone Encapsulants Market Segmentation
Type- General Encapsulant
- Optically Clear Encapsulant
- Thermally Conductive Encapsulant
- Electricals and Electronics
- Automobiles
- Optics
Strategic Insights
Silicone Encapsulants Market Growth Drivers- Growth of the Renewable Energy Sector: Silicone encapsulants are crucial in the production of photovoltaic (solar) cells, where they help protect the delicate components from environmental damage while ensuring high efficiency. As the world focuses more on renewable energy, especially solar power, the demand for silicone encapsulants is expected to rise substantially.
- Increasing Usage in Electronics and LED Lighting: Silicone encapsulants are widely used in the electronics and LED lighting industries to provide protection against moisture, dust, and mechanical stress. With the proliferation of LED lighting in commercial, residential, and automotive applications, the demand for silicone encapsulants in these products is anticipated to grow.
- Advancements in Automotive Electronics: With the rapid development of automotive electronics, particularly in electric and autonomous vehicles, the need for effective encapsulants to protect sensitive components such as sensors, chips, and batteries is increasing. Silicone encapsulants offer superior performance in these applications, driving market growth.
- Growth in Demand for Electric Vehicles and Batteries: Silicone encapsulants are critical in the protection of battery cells and electronic components in electric vehicles (EVs). As the EV market continues to grow, particularly with advancements in solid-state batteries and other high-performance energy storage systems, the demand for silicone encapsulants will expand due to their thermal stability, moisture resistance, and electrical insulation properties.
- Development of Flexible and Transparent Encapsulants for Wearables and IoT Devices: Silicone encapsulants are increasingly being used in the electronics industry to protect smaller, flexible, and transparent devices such as wearable electronics, sensors, and IoT devices. These encapsulants offer protection from environmental factors while maintaining the functionality and flexibility of the devices, which is driving demand for silicone encapsulants in this space.
- Rising Demand for Solar Energy Applications: Silicone encapsulants are critical in the protection and longevity of photovoltaic (solar) cells. As solar energy installations continue to increase globally, particularly in residential and commercial sectors, the demand for high-performance encapsulants that protect against UV, heat, and moisture is expected to grow, further pushing the silicone encapsulants market.
- Growth of Electric Vehicles (EVs): Silicone encapsulants are crucial for protecting battery cells, power electronics, and electric motor components in EVs. As the global EV market continues to grow, the demand for silicone encapsulants will increase, offering a significant opportunity for suppliers to expand their market share in the automotive sector.
- Rising Demand for Solar Energy Solutions: Silicone encapsulants are essential in solar photovoltaic (PV) cells, providing protection against environmental stress while enhancing efficiency and longevity. The growth of the renewable energy sector, particularly solar power, presents a key opportunity for silicone encapsulants to thrive, driven by increasing solar installations and advancements in solar technology.
- Expanding Electronics Industry: With the growing trend of miniaturization and the proliferation of consumer electronics, the need for high-performance encapsulants is on the rise. Silicone encapsulants offer superior protection against moisture, dust, and physical damage, making them ideal for sensitive components in electronics such as smartphones, wearables, and IoT devices, opening up new market opportunities.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Silicone Encapsulants Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Silicone Encapsulants Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Silicone Encapsulants Market is estimated to witness a CAGR of 6% from 2023 to 2031
Growth of the renewable energy sector is driving the market growth.
3M Company; ACC Silicones Ltd; Dow; Evonik Industries; H.B. Fuller; Henkel AG and Company, KGaA; Huntsman Corporation; Shin-Etsu Chemical Co., Ltd; Sika AG; and Wacker Chemie AG are some of the key players operating in the silicone encapsulants market
Based on type, the general encapsulant segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the silicone encapsulants market, due to its robust electronics manufacturing ecosystem, particularly in countries like China, Japan, South Korea, and Taiwan.
Growth in demand for electric vehicles and batteries is expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Silicone Encapsulants Market - By Type
1.3.2 Silicone Encapsulants Market - By Application
1.3.3 Silicone Encapsulants Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SILICONE ENCAPSULANTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SILICONE ENCAPSULANTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SILICONE ENCAPSULANTS MARKET - GLOBAL MARKET ANALYSIS
6.1. SILICONE ENCAPSULANTS - GLOBAL MARKET OVERVIEW
6.2. SILICONE ENCAPSULANTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SILICONE ENCAPSULANTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GENERAL ENCAPSULANT
7.3.1. Overview
7.3.2. General Encapsulant Market Forecast and Analysis
7.4. OPTICALLY CLEAR ENCAPSULANT
7.4.1. Overview
7.4.2. Optically Clear Encapsulant Market Forecast and Analysis
7.5. THERMALLY CONDUCTIVE ENCAPSULANT
7.5.1. Overview
7.5.2. Thermally Conductive Encapsulant Market Forecast and Analysis
8. SILICONE ENCAPSULANTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ELECTRICALS AND ELECTRONICS.
8.3.1. Overview
8.3.2. Electricals and Electronics. Market Forecast and Analysis
8.4. AUTOMOBILES
8.4.1. Overview
8.4.2. Automobiles Market Forecast and Analysis
8.5. OPTICS
8.5.1. Overview
8.5.2. Optics Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SILICONE ENCAPSULANTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Silicone Encapsulants Market Overview
9.1.2 North America Silicone Encapsulants Market Forecasts and Analysis
9.1.3 North America Silicone Encapsulants Market Forecasts and Analysis - By Type
9.1.4 North America Silicone Encapsulants Market Forecasts and Analysis - By Application
9.1.5 North America Silicone Encapsulants Market Forecasts and Analysis - By Countries
9.1.5.1 United States Silicone Encapsulants Market
9.1.5.1.1 United States Silicone Encapsulants Market by Type
9.1.5.1.2 United States Silicone Encapsulants Market by Application
9.1.5.2 Canada Silicone Encapsulants Market
9.1.5.2.1 Canada Silicone Encapsulants Market by Type
9.1.5.2.2 Canada Silicone Encapsulants Market by Application
9.1.5.3 Mexico Silicone Encapsulants Market
9.1.5.3.1 Mexico Silicone Encapsulants Market by Type
9.1.5.3.2 Mexico Silicone Encapsulants Market by Application
9.2. EUROPE
9.2.1 Europe Silicone Encapsulants Market Overview
9.2.2 Europe Silicone Encapsulants Market Forecasts and Analysis
9.2.3 Europe Silicone Encapsulants Market Forecasts and Analysis - By Type
9.2.4 Europe Silicone Encapsulants Market Forecasts and Analysis - By Application
9.2.5 Europe Silicone Encapsulants Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Silicone Encapsulants Market
9.2.5.1.1 Germany Silicone Encapsulants Market by Type
9.2.5.1.2 Germany Silicone Encapsulants Market by Application
9.2.5.2 France Silicone Encapsulants Market
9.2.5.2.1 France Silicone Encapsulants Market by Type
9.2.5.2.2 France Silicone Encapsulants Market by Application
9.2.5.3 Italy Silicone Encapsulants Market
9.2.5.3.1 Italy Silicone Encapsulants Market by Type
9.2.5.3.2 Italy Silicone Encapsulants Market by Application
9.2.5.4 United Kingdom Silicone Encapsulants Market
9.2.5.4.1 United Kingdom Silicone Encapsulants Market by Type
9.2.5.4.2 United Kingdom Silicone Encapsulants Market by Application
9.2.5.5 Russia Silicone Encapsulants Market
9.2.5.5.1 Russia Silicone Encapsulants Market by Type
9.2.5.5.2 Russia Silicone Encapsulants Market by Application
9.2.5.6 Rest of Europe Silicone Encapsulants Market
9.2.5.6.1 Rest of Europe Silicone Encapsulants Market by Type
9.2.5.6.2 Rest of Europe Silicone Encapsulants Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Silicone Encapsulants Market Overview
9.3.2 Asia-Pacific Silicone Encapsulants Market Forecasts and Analysis
9.3.3 Asia-Pacific Silicone Encapsulants Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Silicone Encapsulants Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Silicone Encapsulants Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Silicone Encapsulants Market
9.3.5.1.1 Australia Silicone Encapsulants Market by Type
9.3.5.1.2 Australia Silicone Encapsulants Market by Application
9.3.5.2 China Silicone Encapsulants Market
9.3.5.2.1 China Silicone Encapsulants Market by Type
9.3.5.2.2 China Silicone Encapsulants Market by Application
9.3.5.3 India Silicone Encapsulants Market
9.3.5.3.1 India Silicone Encapsulants Market by Type
9.3.5.3.2 India Silicone Encapsulants Market by Application
9.3.5.4 Japan Silicone Encapsulants Market
9.3.5.4.1 Japan Silicone Encapsulants Market by Type
9.3.5.4.2 Japan Silicone Encapsulants Market by Application
9.3.5.5 South Korea Silicone Encapsulants Market
9.3.5.5.1 South Korea Silicone Encapsulants Market by Type
9.3.5.5.2 South Korea Silicone Encapsulants Market by Application
9.3.5.6 Rest of Asia-Pacific Silicone Encapsulants Market
9.3.5.6.1 Rest of Asia-Pacific Silicone Encapsulants Market by Type
9.3.5.6.2 Rest of Asia-Pacific Silicone Encapsulants Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Silicone Encapsulants Market Overview
9.4.2 Middle East and Africa Silicone Encapsulants Market Forecasts and Analysis
9.4.3 Middle East and Africa Silicone Encapsulants Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Silicone Encapsulants Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Silicone Encapsulants Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Silicone Encapsulants Market
9.4.5.1.1 South Africa Silicone Encapsulants Market by Type
9.4.5.1.2 South Africa Silicone Encapsulants Market by Application
9.4.5.2 Saudi Arabia Silicone Encapsulants Market
9.4.5.2.1 Saudi Arabia Silicone Encapsulants Market by Type
9.4.5.2.2 Saudi Arabia Silicone Encapsulants Market by Application
9.4.5.3 U.A.E Silicone Encapsulants Market
9.4.5.3.1 U.A.E Silicone Encapsulants Market by Type
9.4.5.3.2 U.A.E Silicone Encapsulants Market by Application
9.4.5.4 Rest of Middle East and Africa Silicone Encapsulants Market
9.4.5.4.1 Rest of Middle East and Africa Silicone Encapsulants Market by Type
9.4.5.4.2 Rest of Middle East and Africa Silicone Encapsulants Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Silicone Encapsulants Market Overview
9.5.2 South and Central America Silicone Encapsulants Market Forecasts and Analysis
9.5.3 South and Central America Silicone Encapsulants Market Forecasts and Analysis - By Type
9.5.4 South and Central America Silicone Encapsulants Market Forecasts and Analysis - By Application
9.5.5 South and Central America Silicone Encapsulants Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Silicone Encapsulants Market
9.5.5.1.1 Brazil Silicone Encapsulants Market by Type
9.5.5.1.2 Brazil Silicone Encapsulants Market by Application
9.5.5.2 Argentina Silicone Encapsulants Market
9.5.5.2.1 Argentina Silicone Encapsulants Market by Type
9.5.5.2.2 Argentina Silicone Encapsulants Market by Application
9.5.5.3 Rest of South and Central America Silicone Encapsulants Market
9.5.5.3.1 Rest of South and Central America Silicone Encapsulants Market by Type
9.5.5.3.2 Rest of South and Central America Silicone Encapsulants Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SILICONE ENCAPSULANTS MARKET, KEY COMPANY PROFILES
11.1. 3M COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ACC SILICONES LTD
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DOW CORNING CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EVONIK INDUSTRIES
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. H.B. FULLER
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HENKEL AG AND COMPANY, KGAA
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HUNTSMAN CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SHIN-ETSU CHEMICAL CO., LTD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SIKA AG
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. WACKER CHEMIE AG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. 3M Company
2. ACC Silicones Ltd
3. Dow Corning Corporation
4. Evonik Industries
5. H.B. Fuller
6. Henkel AG and Company, KGaA
7. Huntsman Corporation
8. Shin-Etsu Chemical Co., Ltd
9. Sika AG
10. Wacker Chemie AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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