New York, USA, Nov. 23, 2020 (GLOBE NEWSWIRE) -- According to a latest report published by Research Dive, the North America potting compound market is anticipated to cross the $931 million mark by 2025, from a significant market size of $728 million in 2017, with a CAGR of 3.2% in the estimated forecast period. This report elucidates all the aspects such as future growth of the market along with the current scenario. The report is duly generated by experts after careful analysis of all the essential aspects that are affecting the growth of the market.
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Key Insights of the Report
• An overall scenario of the market that encompasses field of application, definitions, and merits.
• The market report describes growth rate (CAGR), various market dynamics, certain conditions regarding the market, statistical data, and market size and shares, and future predictions.
• The report also includes market segments, prominent drivers, limitations, and appropriate investment opportunities for the key players.
• Present situation of the regional and global and markets from the viewpoint of companies, countries, and industries.
• Important information on all the driving market trends and advances, Porter Five Analysis, market players, SWOT factor, and business insights.
Factors Impacting the Market Growth
The North America potting compound market is expected to grow during the forecast period due to the rise in demand for potting components by the electronics sector. Moreover, some prominent end-users of potting compounds such as aerospace and transportation sectors are also responsible for the market growth. All these factors fuel the market growth in the predicted forecast period.
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However, strict government rules and regulation regarding VOC (Volatile Organic Compounds) emissions is estimated to retrain the market growth in the forecast period. Nevertheless, augmented investments in the research and development sector are predicted to create opportunities for the North America Potting Compound Market.
Segment Analysis
The report divides the market into segments based on curing technique, resin type, end use, application, and regional outlook.
Based on resin type, the market is bifurcated into:
• Epoxy
• Silicone
• Polyurethane
• Polyester
• Polyolefin
• Polyamide
• Acrylics
From the above sub-segments, epoxy and silicon dominated the market in 2017 due to its use in automotive and electronics industry. Whereas, the polyester resin segment is estimated to garner highest growth rate in the forecast period.
Based on curing technique, market is classifies into:
• Thermal
• UV
• Room temperature
From the above, the UV curing sub-segment was predicted to harbor the highest market share in the year 2017 and is expected to garner huge revenue in the forecast period as well. The major reason is anticipated to be the increase in R&D activities that is enhancing the market.
Based on application, the market is classified into:
• Surface mount packages
• Microprocessors and memory devices
• Beam bonded components
• Capacitors
• Cable joints
• Transformers
• Solenoids
• Industrial magnets
From the above sub-segments, microprocessors and memory devices and surface mount packages is predicted to generate the highest market share in the forecast period. This is due to the use of these sub-segments in electronics applications. This aspect is accounted to promote the market growth in the forecast period.
Based on end-use, the market is categorized into:
• Aerospace
• Electronics
• Industrial
• Automotive
From the above sub-segments, the electronics sub-segments is expected to rise significantly during the forecast period. Establishment of several electronics projects in the U.S.A is anticipated to boost the market in the forecast period. Moreover, this sub-segment was the largest in 2017 as well.
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Regional Analysis
From the North American region, following countries are leading in the potting compound market.
• Canada
• The U.S.A
• Mexico
From the above North American countries, the U.S.A is predicted to be the largest market shareholder in the estimated timeframe. This is due to the growth in sales and production of the automotive sector. Furthermore, this country is also witnessing a rise in epoxy and silicone sub-segments as well in the forecast period.
Key Players and Business Strategies
Some of the key market players of the North American potting compound market are as follows:
• Wacker Chemie AG
• Solvay
• Henkel AG & Co.
• H.B. Fuller Company
• KGaA
• ELANTAS GmbH
• Dymax Corporation
• LORD Corporation
• Robnor ResinLab Ltd
• MG Chemicals
• Huntsman International LLC.
The North American firms are elaborating their companies in upcoming markets to enhance their stand the North America. These businesses are opting for several strategies and plans like mergers, collaboration, acquisition and technological advancements and agreement for business expansion.
Beyond this, the report states aspects of all the prominent players functioning in the market along with the financial performances, developments, recent strategic moves, product portfolio, and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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