The Global Epoxy Molding Compound Market to Witness Healthy Growth with a CAGR of 3.816% and Reach the Turnover of USD 289.65 Million by 2026
Published | August 2020
Global Epoxy Molding Compound Market has grown securely over the years. It is likely to register a CAGR of 3.81%, in value terms, over the projection period 2019-2026, and reach at USD 289.65 Million by 2026. The key factors driving the demand for epoxy molding compounds are the substitution of traditional materials with epoxy molding compound based products. The epoxy molding compounds offer high mechanical strength and productivity.
The aim of the Epoxy Molding Compound (EMC) is to encapsulate various sensitive electronic instruments. Starme EMC provides a large variety of halogen-free compounds to suit various application requirements and preferences. Epoxies are considered useful due to its media resisting properties. As they are mechanically and environmentally shielded and safe-to-use goods, besides merits mentioned above, the market for the global epoxy molding is anticipated to grow steadily in upcoming period.
China Continues to Secure for a Sizeable Revenue Share in Global Epoxy Molding Compounds Space
The demand for epoxy bulk molding compounds has noticed a higher growth rate due to the increasing automation implementation and technological advancements across industries. The ever-increasing urbanization and subsequently evolving transport networks have led to epoxy molding compound demand.
As epoxy molding compounds are characteristically more durable than their regular counterparts, they are also increasingly preferred in different applications and industries. They also exhibit molding capabilities under compression and injection molding methods.
Nonetheless, growing competition among the market players in epoxy molding compounds is expected to lead to the drop down in their prices.
Asia-Pacific, a Significant Market, Expected to Register Substantial growth in the market during the projection period
The main markets for epoxy molding compounds are China, the US, Japan, Germany and Canada. Asia-Pacific currently represents the largest market for Epoxy molding compounds and is expected to record substantial given the industrial, economic and manufacturing development in different nations.
Within the Middle East & African world, the Brazil is anticipated to spearhead and register the highest CAGR in demand for epoxy molding compounds over the projection period. Rising awareness among manufacturers in the countries in this region about the various properties of these compounds remains the main factor projected to drive the growth of various end-use applications industries. It, in turn, is predictable to help the growth of global market revenues in this area.
The leading players in global Epoxy Molding Compound market are Sumitomo Bakelite, Hitachi Chemical, Chang Chun Group, Hysol Huawei Electronics, Panasonic, Kyocera, KCC, Samsung SDI, Eternal Materials, Jiangsu Zhongpeng New Material, Shin-Etsu Chemical, Hexion, Nepes, Tianjin Kaihua Insulating Material, HHCK, Scienchem, Beijing Sino-tech Electronic Material and Others.