In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Liquid encapsulation is a process which includes coating of materials such as polymer, metal and ceramics on devices in the form of solid or liquid to protect the devices form shock and moisture. To ensure proper functioning of devices and to overcome misconnection of electrical components on devices, liquid encapsulant materials are applied on them. These encapsulant materials contain epoxy resin and epoxy modified resin materials.
The liquid encapsulation market, in terms of value, is expected to grow rapidly during the forecasted period at a CAGR of around 7.1%. Liquid encapsulation plays a vital role in functions of a device as it helps to prevent the malfunctioning of the components in the electronic devices. Due to this reason liquid encapsulation is widely used in semiconductor and electronics industry where small components are needed to be placed precisely over the device. Due to this application of liquid encapsulation the demand for liquid encapsulation is expected to rise in numerous industries over the forecasted period.
Asia Pacific is projected to grab the largest market share and is anticipated to grow with a highest CAGR during the forecasted period. Asia Pacific is an emerging hub for many electronics and telecommunication industries and the wide use of liquid encapsulation in these industries is likely to bolster growth of liquid encapsulation market in this region. It is estimated that Asia Pacific will hold more that 61% of the market share of liquid encapsulation by the end of the forecasted period. North America and Europe showcase a steady pace during a forecasted period as the demand for liquid encapsulation in these regions is low as compared with Asia Pacific region. Although, the market of liquid encapsulation is projected to speed up in the near future due to the enhancement of the liquid encapsulation materials with more focus in research and development. CLICK TO DOWNLOAD SAMPLE REPORT
Our-in depth analysis of the global liquid encapsulation market includes the following segments:
Global liquid encapsulation market is further classified on the basis of region as follows:
Increasing technological advancements in the electronics industry anticipated to foster the growth of liquid encapsulation market globally. Growing demand for number of miniaturized electronics also drives the growth of liquid encapsulation market. Expansion of consumer electronics market and growing improvements in sensors and integrated circuits market are expected to stimulate the growth of liquid encapsulation market. Increasing number of sealant manufacturers and dispense equipment industries fueling the growth of liquid encapsulation market globally. Rapid industrialization in developing economies such as China and India are also contributing in the growth of liquid encapsulation market.
Growing demand for sensor based applications in various semiconductor industries across the globe is likely to drive the market of liquid encapsulation in near future. Optoelectronic devices such as LEDs are witnessing great demand across all regions. Further, use of liquid encapsulations in optoelectronics devices is a major factor that is expected to spur the growth of liquid encapsulation market globally.