The encapsulation technology is primarily used in various different industries such as food, automotive, healthcare and semiconductor & electronics industry among others. In Semiconductor industry, liquid encapsulation is a process which helps in a smooth working of electronic circuits without changing its physical characteristics. Liquid encapsulation is very useful in protecting circuits from temperature effects and it also helps in overcoming the threat of misconnection within the components. The liquid encapsulation technology is used in various products such as integrated circuits, sensors, optoelectronics and discrete semiconductor.
Liquid Encapsulation Market: Drivers and Restraint
The liquid encapsulation market is still in nascent stage for the semiconductor & electronics industry. However, over the forecast period the market is expected to witness a significant growth. Factors which are responsible for growth of the global liquid encapsulation market are rapidly expanding consumer electronics market, growing investment in the market from public as well as private firms and increasing complexity and functionality of electronics devices along with the trend of miniaturization in devices. Furthermore, growing need of advanced packaging technology for electronic devices and growing importance of liquid encapsulation in semiconductor industry etc. are some other important factors driving the growth of global liquid encapsulation market during the forecast period.
The global liquid encapsulation market growth is affected due to slow-moving demand of liquid encapsulation in some developed regions such as North America and Western Europe. However automotive electronics applications are supposed to offer new growth opportunities for the development of global liquid encapsulation market.
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Liquid Encapsulation Market: Segmentation
The global liquid encapsulation market is segmented on the basis of material, product and application in order to understand marker thoroughly. By material, the global liquid encapsulation market can be segmented into epoxy resin, epoxy-modified resin and others. By product, the global liquid encapsulation market can be segmented into integrated circuits, sensors, discrete semiconductors and optoelectronics. Integrated circuits are estimated to cover highest share of the total liquid encapsulation market. By application, the global liquid encapsulation market can be segmented into electronics, automotive, industrial and telecommunication. Among all these applications, electronic applications are expected hold larger share of global liquid encapsulation market over the forecast period.
Liquid Encapsulation Market: Region wise outlook
On the basis of region, the global liquid encapsulation market can be segmented into seven regions which includes, North America, Latin America, Western Europe, Asia-Pacific (excluding Japan), Eastern Europe, Japan and Middle East & Africa region. Further the market is sub-segmented as per the major countries of each region in order to provide better regional analysis of the liquid encapsulation market. Throughout the forecast period Asia-Pacific region is expected to dominate global liquid encapsulation market. The Asia-Pacific region is expected to hold the larger share of the total liquid encapsulation market and it also estimated grow at a faster compound annual growth rate over the forecast period. It is due to increasing demand of sensor devices and wireless technologies in the region. In Asia-Pacific region, countries such as China, Taiwan and South Korea are expected to offer significant growth opportunity for liquid encapsulation market due to rapidly expanding electronics and telecommunication sector in the region.
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Liquid Encapsulation Market: Key Players
Key players in global liquid encapsulation market are Sumitomo Bakelite Co., Ltd., Shin-Etsu Chemical Co., Ltd, Henkel AG & Co. KGaA, Panasonic Corporation, KYOCERA Chemical Corporation and Epic Resins. The market is witnessing trend of new product developments and merger & acquisition of market players. New product developments by key players expected to create great growth opportunity for the overall growth of global liquid encapsulation market.