The encapsulants market is estimated to be USD 1.26 billion in 2017 and is projected to reach USD 1.64 billion by 2022, at a CAGR of 5.5% from 2017 to 2022. The growth of advanced electronic packaging technique is driving the encapsulants market in different end-use industries. The growing use of encapsulants in consumer electronics and transportation is also fueling the growth of the encapsulants market across the globe. Medical and energy & power are some of the end-user industries of encapsulants.

Based on chemistry, the silicone segment of the encapsulants market is projected to register the highest growth rate during the forecast period. Silicone encapsulants are known for their wide operating temperature range (-115 ºC to 300 ºC), excellent electrical properties, flexibility, UV resistance, and good chemical resistance. These make them useful in power modules of LED lighting & displays, high-voltage electrical components, sealing of cable joints, industrial equipment, transportation electronics, and under bonnet electronics.

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Based on curing type, the room temperature curing segment of the encapsulants market is projected to grow at the highest CAGR during the forecast period. Room temperature curing systems offer easy processing, high reliability, and are low cost.

The growth of consumer electronics and transportation end-use industries has increased demand for encapsulants in the Asia Pacific region. Increasing number of manufacturing units, availability of low-cost labor, and less stringent environmental regulations are expected to drive the encapsulants market in this region.

Expansion and new product development/launch accounted for the major share of all growth strategies adopted by the leading players in the encapsulants market between January 2013 and September 2017. Dow Corning (US), Henkel (Germany), LORD Corporation (US), Shin-Etsu Chemicals (Japan), and H.B. Fuller (US) are some of the leading players operating in the encapsulants market.

Besides expansions and new product launches, the leading players also adopted agreements and mergers as key strategies to enhance their market shares and strengthen their presence in the encapsulants market between January 2013 and September 2017.

Henkel is the leading manufacturer of encapsulants, globally. The company carries out its business operations through its semiconductor assembly product lines. In September 2015, Henkel acquired The Bergquist Company, a privately-held leading supplier of thermal management solutions to the global electronics industry. This acquisition helped the company strengthen its position as a global leader in adhesives technology, catering to the emerging electronics industry of the Asia Pacific and South American regions.

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LORD Corporation is another leading manufacturer of encapsulants. Founded in 1924, the company carries out its business operations through its electronic materials product segment. The company has its encapsulants business spread across North America, Asia Pacific, the Middle East, and Europe. In May 2017, LORD Corporation added Ellsworth Adhesives to its electronic materials distribution team. Ellsworth Adhesives is already a well-established player in the electronic materials market. This deal would give LORD Corporation an established customer base, wider distribution channel, and quick route to the encapsulants market.

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