Electronic Sealants Market Set for Robust Growth at 9.3% CAGR (2023-2033) Driven by Surging Demand from Electronics Manufacturing
In 2023, the global electronic sealants market reached a valuation of US$ 1,039.6 million, with a projected compound annual growth rate (CAGR) of 9.3% expected between 2023 and 2033. By 2033, industry forecasts indicate a substantial expansion, estimating the market’s value to soar to US$ 2,525.7 million. This significant growth underscores the increasing demand for electronic sealants, driven by advancements in technology, rising electronic applications, and a growing emphasis on product durability and protection within the electronics sector.
With growing adoption of electronic devices and increasing need for protection against moisture, dust, and other environmental factors, demand for electronic sealants is expected to rise. The market is witnessing significant technological advancements to meet evolving demands of the electronic industry.
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New sealants are being developed that offer improved performance and greater reliability. These also help to ensure that electronic devices remain protected in harsh environments.
Increasing complexity and miniaturization of electronic devices require sealants that offer high performance and reliability. It has led to a shift toward high-performance electronic sealants that can withstand extreme temperatures, chemicals, and other environmental factors.
The electronic sealant market in East Asia is expanding rapidly, primarily due to the region’s high demand for electronic devices and components. Countries such as China, Japan, and South Korea are the dominant contributors to this growth.
The region houses numerous electronic component manufacturers. Rising production of electronic devices is also expected to fuel demand for electronic sealants in East Asia. Increasing need for high-performance sealants with superior durability and resistance to extreme temperatures and harsh chemicals is further boosting demand.
Key Takeaways from the Electronic Sealants Market Study:
- The global electronic sealants market witnessed a CAGR of 0% during the historical period between 2018 and 2022.
- China is electronic sealants market expected to reach about US$ 572.2 million by end of 2033.
- By type, silicone sealants generated around 2% of the global electronic sealants market share in 2022.
- By application, the gap fillers segment is anticipated to reach US$ 4 million by end of 2033.
- Based on end-use industry, the electrical & electronics segment accounted for a 2% electronic sealants market share in 2022.
“Due to increasing production of electronic components and gadgets, the need for electronic sealants has increased worldwide. Demand for dependable and durable electronic sealants has increased as a result. These aid in shielding devices from environmental hazards such as moisture, dust, and temperature changes.” – Says a lead FMI analyst.
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Competitive Landscape
Significant technological improvements are being witnessed in the market for electronic sealants on a global scale. To develop fresh and cutting-edge sealants, top manufacturers are spending in research and development.
Demand for sealants that can survive tough conditions and high temperatures is what spurred these developments. Key players are also developing novel products that can enhance adhesion and lower volatile organic compounds (VOC) emissions.
For instance,
- In April 2023, PPG introduced a kit called SEMCO Sealant Removal, Mixing & Application Kit. It can be used to remove and apply aerospace potting compounds, adhesives, and sealants on aircraft at remote locations.
Key Companies Profiled
- Dow Inc.
- CSL Silicones Inc.
- H.B. Fuller Company
- American Sealants, Inc.
- Momentive Performance Materials
- CHT Germany GmbH
- Novagard
- Kohesi Bond
- ALSTONE INDUSTRIES PVT. LTD
- CHEMISCHE GLOBAL PVT LTD (ESSRBOND)
- Henkel AG
- Elkem ASA
- Shin-Etsu Chemical Co., Ltd.
- NANPAO RESINS CHEMICAL GROUP
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Electronic Sealants Market Outlook by Category
By Type:
- Silicone Sealants
- RTV Silicones
- Silicone Gel
- Epoxy Sealant
- PU Sealant
- Acrylic Sealant
- Polydimethylsiloxane Sealant
By Application:
- Encapsulation
- Underfilling
- Potting
- Conformal Coating
- Thermal Management
- Gap Fillers
- Surface Mounting
- Others
By End-use Industry:
- Aerospace and Defense
- Electrical and Electronics
- Telecommunication
- Automotive
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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