Market Size of Potting Compound Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Potting Compound Market Analysis
The Global Potting Compound Market is projected to register a CAGR of 3% during the forecast period (2021-2026).
Potting compounds over other types of sealant are to protect against moisture to prevent short circuits, to offer increased chemical protection in complex assemblies, to provide mechanical shock and vibration resistance in challenging environmental conditions. Potting compounds consumption is dominated by Electronics industries. The outbreak of COVID-19 has affected many manufacturing industries including electronics industry and as well as general economic activities. The implementation of lockdowns across various countries and disruptions in supply has affected the electronics industry. Whereas the slump in economic activity has affected the development and the expansions in the industry, which has a series impact on demand for potting compounds
- Over the short term, the rising demand from the electronis industry is likely to drive the market demand. The electronics Industry accounts for the largest share of the total revenue of the potting compound market
- On the flip side, absence of compatibility of these compounds with each product and application-explicit characteristics are estimated to hinder the growth of the market studied
- The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as China and India.
