The liquid encapsulation market revenue in 2022 was US$ 1.6 Billion. The market is expected to reach US$ 2.8 Billion by 2033, as it is estimated to grow at a CAGR of 5.1% for 2023 to 2033.
| Attributes | Details |
|---|---|
| Estimated Year (2023) Market Value | US$ 1.7 Billion |
| Projected Year (2033) Market Value | US$ 2.8 Billion |
| CAGR% (2023 to 2033) | 5.1% |
| Top 5 Vendor Market Share | Around 30% |
Liquid encapsulation is a technique that involves coating materials like polymer, metal and ceramics on solid or liquid devices to protect them from shock & moisture. Liquid encapsulated materials are used on devices to ensure proper operation and to prevent misconnection between electrical components. Epoxy resin and epoxy modified resin substances are utilized in these encapsulated materials.
Liquid encapsulation market consists 25.4% of the global encapsulation market.
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Liquid encapsulation market is estimated to grow at a CAGR of 5.1% for the forecast period compared to the historic CAGR for the period 2018 to 2022 of 2.7%.
Growing complexity & operability of electronics devices as well as rising trend toward the miniaturized electrical components are the key factors analyzed to accelerate the growth of liquid encapsulation market during the forecast period of 2023 to 2033.
Furthermore, increasing demand for consumer electronic devices, rapidly rising investments in the electronic domain, growing utilization of integrated circuits and introduction of on-chip technologies are providing a lucrative environment for the increased demand for liquid encapsulation technology in the coming future.
Rapidly increasing trend toward miniaturized semiconductor devices is driving up demand for the liquid encapsulation technique. In semiconductor device manufacturing, the liquid encapsulation method is utilized for under filling, cavity filling, advanced packaging, and glob top encapsulation. It improves miniaturized electronic devices by allowing smaller and more complex device structures to be managed without compromising quality.
Electronics and semiconductor devices are made up of small components that must be precisely placed, and this is expected to drive market growth. Furthermore, liquid encapsulation is important in the operation of a device and aids in the prevention of component malfunction in electronic devices leading to the accelerated growth of liquid encapsulation systems.
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North American region is analyzed to dominate the global liquid encapsulation market with the share of 24.4% in 2022 and South Asia Pacific region is growing at the fastest rate in the global liquid encapsulation market with the CAGR of 6.1% during the forecast period of 2022 to 2032.
Increased adoption of liquid encapsulation method for manufacturing sensors, as well as rising application of liquid encapsulation technology to manufacture innovative MEMS (Microelectromechanical) devices like completely spherical micro lenses are the key factors behind the market growth of liquid encapsulation market in the North American region.
Growing demand for sensor devices, wireless technologies and optoelectronics has led to an increase in the usage of encapsulation methods are factors influencing market growth in South Asia Pacific region.
Furthermore, rapid expansion of the telecommunications and electronics industries is a key factor driving the significant increase of the liquid encapsulation market.
USA region is analyzed to dominate the global liquid encapsulation market with the share of 18.2% in 2022.
This market growth can be attributed to the various factors such as rising consumer demand for increased mobility & wireless connectivity coupled with growing trends towards advanced packaging techniques and so on.
India is growing at the fastest rate with the CAGR of 6.5% in the global liquid encapsulation market, owing to the rising demands for electronics applications in automotive combined with growing investments from private & public firms, upsurge in the consumer electronics market, providing lucrative opportunities for APT protection providers in the region.
China holds the second largest share of 15.3% in the global liquid encapsulation market due to the increased consumer expenditure on luxury vehicles like cars & two-wheelers, together with favourable government policies encouraging domestic manufacturing activities, providing lucrative environment for the adoption & development of liquid encapsulation technology in the region.
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Epoxy Resins segment is analyzed to hold the major share of 37.1% in liquid encapsulation market in 2022, attributed to the widespread use of epoxy resin material for liquid encapsulation, which has properties such as thermal stress resistance and resistance to degradation over time.
Due to its corrosion resistance property this material is frequently used in industrial implementations for liquid encapsulation. Epoxy resins are also utilized to encapsulate integrated circuits. The increasing use of integrated circuits in semiconductor materials and consumer technology applications is expected to drive the market.
Integrated circuit segment is analyzed to dominate the liquid encapsulation market with the share of 35.6% in the liquid encapsulation market owing to the factors such as rising trend towards vehicle electrification along with the growing use of miniaturized chips & integrated circuits and so on.
Increased adoption of technologically advanced electronic devices are arousing the demands for liquid encapsulation.
| Attribute | Details |
|---|---|
| Market value in 2022 | US$ 1.6 Billion |
| Market CAGR 2023 to 2033 | 5.1% |
| Share of top 5 players | Around 30% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
| Key Segments Covered | Material, Product and Region |
| Key Companies Profiled | Henkel AG & Company KGaA; BASF SE; Panasonic Corporation; Sanyu Rec Co. Ltd.; Hitachi Chemical Co. Ltd.; Resin Technical Systems; Sumitomo Bakelite Co. Ltd.; Kyocera Corporation; Nitto Denko Corporation; Shin-Etsu Chemical Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some leading of the liquid encapsulation are Henkel AG & Company KGaA, BASF SE, Panasonic Corporation and Sanyu Rec Co. Ltd.
South Asia Pacific is estimated to have the highest growth for the liquid encapsulation during the forecast period of 6.1%.
Increasing adoption of miniaturized semiconductor devices.
Epoxy resins had the largest market share for the liquid encapsulation of 37.1% in 2022.
Integrated circuit has the highest CAGR of 35.6% for the forecast period.
USA, Germany, India, United kingdom and China.
The market share of South Asia and Pacific for the year 2022 for the liquid encapsulation was 16.7%.
North America had a market share of 24.4% in 2022 for liquid encapsulation.
India has the highest CAGR for the forecast period, which is 6.5%.
The estimated CAGR of Liquid Encapsulation market during the period of 2018 to 2022 was 2.7%.
For North America region, the CAGR for the forecast period is estimated to be 4.2% for the liquid encapsulation.
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