The Approximately US2.2 Bn Market for Epoxy Molding Compound (2022) Poised to Reach a Revenue of US3.4 Bn by the End of 2030
Epoxy Molding Compound (EMC) Market Set to Shine, Projected to Reach $3.4 Billion by 2030
Epoxy Molding Compound Market Expected to Maintain a Robust 7% CAGR between 2023 and 2030
The global market for Epoxy Molding Compound (EMC) is on a trajectory of substantial growth, poised to reach an impressive revenue figure of $3.4 billion by the end of 2030, up from approximately $2.2 billion in 2022. The market is anticipated to maintain a sturdy CAGR of around 7% during the period spanning from 2023 to 2030, as per the latest insights from the Global Epoxy Molding Compound Market Snapshot for 2018-2030.Key Highlights
- EMC for Electronic Gadgets: EMC plays a crucial role in safeguarding delicate electronic devices. Companies like Starem EMC are offering a wide range of halogen-free compounds to meet diverse client requirements and standards, contributing significantly to the global EMC market.
- Technology-Driven Efficiency: The adoption of advanced technology, including blockchain, artificial intelligence, and machine learning, is driving a trend towards creating innovative products that surpass traditional alternatives in terms of efficacy and efficiency.
- Raw Material Cost Challenges: Rising costs of raw materials such as resins, fillers, and additives are posing challenges to the market's expansion, prompting manufacturers to seek ways to boost productivity while maintaining cost-effectiveness.
- Semiconductor Encapsulation: The semiconductor encapsulation sector is experiencing rapid growth worldwide, with EMCs being extensively utilized to protect semiconductors from corrosion, heat dissipation, moisture, and more.
- Electronics Sector Dominance: The electronics industry is leading in the adoption of EMC due to its corrosion resistance, thermal strength, and heat resistance properties, especially when exposed to extreme conditions.
A Look Back and Forward
Over the years, the market has witnessed a notable shift from conventional materials to products based on epoxy molding compounds. These compounds offer dimensional stability, heat resistance, and corrosion resistance, making them preferred over traditional alternatives. In the automotive sector, they contribute to lower fuel emissions due to their lightweight and improved fuel efficiency. This shift is fueling the market's expansion.Historically, from 2018 to 2022, the market exhibited staggered growth, primarily driven by increased applications in the electronics industry. The anti-corrosive and heat-resistant properties of thermoset molding compounds have contributed to improved efficiency in electronic applications, further boosting the market.
In the coming years, increased investments in infrastructure development in countries like the United States, China, Japan, Mexico, and India are expected to significantly drive the market, particularly in applications related to building materials.
Key Growth Factors
Consumer Electronics Manufacturing: The increasing complexity and functionality of consumer electronics, including the adoption of 5G communication technologies, are driving the demand for EMC in various electronic components. Features like wireless charging, multi-camera modules, 3D sensors, and off-screen fingerprint readers necessitate the use of EMC to ensure device stability.Construction Industry Demand: EMC is witnessing growing demand in the construction industry, where it is used in various applications such as plastics, flooring, paints, adhesives, sealants, and more. Its outstanding resistance to various environmental factors contributes to its extensive use across industries.
Semiconductor Industry Adoption: EMC is crucial for the packaging and protection of electronic components, ensuring their reliability and longevity. Its exceptional mechanical properties, low coefficient of thermal expansion, and excellent thermal conductivity contribute to effective heat dissipation and enhanced component performance.
Major Challenges
- High Costs: The initial cost associated with using EMC can be higher, posing challenges in manufacturing industries. Additionally, recycling-related issues can increase costs.
- Health Concerns: Exposure to EMCs, widely used in the industrial sector, can lead to health issues such as eye irritation, coughing, throat infections, and skin irritation, affecting market growth.
Notable Trends and Opportunities
Superior Substitute for Traditional Resin Molding Compounds: EMCs are emerging as superior alternatives to traditional casting resins due to their advantages in heat resistance, corrosion resistance, UV protection, hardness, and other factors.Urbanization and Transportation Infrastructure Growth: Rising urbanization and expanding transportation systems are driving the demand for EMCs, especially in applications where durability is essential.
Eco-friendly EMC Demand: The market is witnessing an increased demand for eco-friendly EMCs made from plant-based materials, which are safer for the environment and adhere to regulations like RoHS.
Regulatory Influence
Regulations such as the Restriction of Hazardous Substances (RoHS) directive govern the use of EMCs in electronics production, restricting the use of hazardous materials. Adherence to industry standards like those set by the Association Connecting Electronics Industries (IPC) is also crucial.Top Segments
Normal EMC Dominance: In 2022, normal EMC segments dominated the market due to their broad application spectrum, including high thermal stability, UV protection, corrosion prevention, and exceptional coating capability.Semiconductor Encapsulation: The semiconductor encapsulation sector led the market, driven by increased demand across various industries for protecting semiconductors against environmental factors.
Electronics Sector: The electronics sector held the largest market share, primarily due to EMCs' corrosion resistance, thermal strength, and heat resistance properties.
Regional Frontiers
Asia Pacific Dominance: Asia Pacific is expected to account for the largest market share, driven by increased demand in steel manufacturing across various end-use industries, infrastructure building, and automotive applications.Rapid Growth in North America: North America is anticipated to witness significant market growth, fueled by rising consumer purchasing power, technological advancements in chemical processing, and investments in innovation.
Competitive Landscape
Major market players are investing significantly in research and development to diversify their product offerings, drive innovation, and expand distribution networks. Notable developments include product launches, partnerships, mergers and acquisitions, and collaborations.Leading Players in the Global EMC Space
- Sumitomo Bakelite Ltd.
- Hitachi Chemical
- Chang Chun Petrochemical
- Hysol Huawei Electronics Ltd.
- Panasonic
- Kyocera
- KCC Corporation
- Samsung SDI
- Eternal Materials
- Jiangsu NOVORAY New Material Co., Ltd.
- Shin-Etsu Chemical
- Hexion
- Nepes
- Tianjin Kaihua Insulating Material
- Nitto Denko Corporation
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Table of Contents
1. Executive Summary
2. Market Overview
3. Global Epoxy Molding Compound Market Outlook, 2018 - 2030
4. North America Epoxy Molding Compound Market Outlook, 2018 - 2030
5. Europe Epoxy Molding Compound Market Outlook, 2018 - 2030
6. Asia Pacific Epoxy Molding Compound Market Outlook, 2018 - 2030
7. Latin America Epoxy Molding Compound Market Outlook, 2018 - 2030
8. Middle East & Africa Epoxy Molding Compound Market Outlook, 2018 - 2030
9. Competitive Landscape
10. Appendix
Executive Summary
Epoxy Molding Compound (EMC) Market Set to Shine, Projected to Reach $3.4 Billion by 2030
Epoxy Molding Compound Market Expected to Maintain a Robust 7% CAGR between 2023 and 2030
The global market for Epoxy Molding Compound (EMC) is on a trajectory of substantial growth, poised to reach an impressive revenue figure of $3.4 billion by the end of 2030, up from approximately $2.2 billion in 2022. The market is anticipated to maintain a sturdy CAGR of around 7% during the period spanning from 2023 to 2030, as per the latest insights from the Global Epoxy Molding Compound Market Snapshot for 2018-2030.Key Highlights
- EMC for Electronic Gadgets: EMC plays a crucial role in safeguarding delicate electronic devices. Companies like Starem EMC are offering a wide range of halogen-free compounds to meet diverse client requirements and standards, contributing significantly to the global EMC market.
- Technology-Driven Efficiency: The adoption of advanced technology, including blockchain, artificial intelligence, and machine learning, is driving a trend towards creating innovative products that surpass traditional alternatives in terms of efficacy and efficiency.
- Raw Material Cost Challenges: Rising costs of raw materials such as resins, fillers, and additives are posing challenges to the market's expansion, prompting manufacturers to seek ways to boost productivity while maintaining cost-effectiveness.
- Semiconductor Encapsulation: The semiconductor encapsulation sector is experiencing rapid growth worldwide, with EMCs being extensively utilized to protect semiconductors from corrosion, heat dissipation, moisture, and more.
- Electronics Sector Dominance: The electronics industry is leading in the adoption of EMC due to its corrosion resistance, thermal strength, and heat resistance properties, especially when exposed to extreme conditions.
A Look Back and Forward
Over the years, the market has witnessed a notable shift from conventional materials to products based on epoxy molding compounds. These compounds offer dimensional stability, heat resistance, and corrosion resistance, making them preferred over traditional alternatives. In the automotive sector, they contribute to lower fuel emissions due to their lightweight and improved fuel efficiency. This shift is fueling the market's expansion.Historically, from 2018 to 2022, the market exhibited staggered growth, primarily driven by increased applications in the electronics industry. The anti-corrosive and heat-resistant properties of thermoset molding compounds have contributed to improved efficiency in electronic applications, further boosting the market.
In the coming years, increased investments in infrastructure development in countries like the United States, China, Japan, Mexico, and India are expected to significantly drive the market, particularly in applications related to building materials.
Key Growth Factors
Consumer Electronics Manufacturing: The increasing complexity and functionality of consumer electronics, including the adoption of 5G communication technologies, are driving the demand for EMC in various electronic components. Features like wireless charging, multi-camera modules, 3D sensors, and off-screen fingerprint readers necessitate the use of EMC to ensure device stability.Construction Industry Demand: EMC is witnessing growing demand in the construction industry, where it is used in various applications such as plastics, flooring, paints, adhesives, sealants, and more. Its outstanding resistance to various environmental factors contributes to its extensive use across industries.
Semiconductor Industry Adoption: EMC is crucial for the packaging and protection of electronic components, ensuring their reliability and longevity. Its exceptional mechanical properties, low coefficient of thermal expansion, and excellent thermal conductivity contribute to effective heat dissipation and enhanced component performance.
Major Challenges
- High Costs: The initial cost associated with using EMC can be higher, posing challenges in manufacturing industries. Additionally, recycling-related issues can increase costs.
- Health Concerns: Exposure to EMCs, widely used in the industrial sector, can lead to health issues such as eye irritation, coughing, throat infections, and skin irritation, affecting market growth.
Notable Trends and Opportunities
Superior Substitute for Traditional Resin Molding Compounds: EMCs are emerging as superior alternatives to traditional casting resins due to their advantages in heat resistance, corrosion resistance, UV protection, hardness, and other factors.Urbanization and Transportation Infrastructure Growth: Rising urbanization and expanding transportation systems are driving the demand for EMCs, especially in applications where durability is essential.
Eco-friendly EMC Demand: The market is witnessing an increased demand for eco-friendly EMCs made from plant-based materials, which are safer for the environment and adhere to regulations like RoHS.
Regulatory Influence
Regulations such as the Restriction of Hazardous Substances (RoHS) directive govern the use of EMCs in electronics production, restricting the use of hazardous materials. Adherence to industry standards like those set by the Association Connecting Electronics Industries (IPC) is also crucial.Top Segments
Normal EMC Dominance: In 2022, normal EMC segments dominated the market due to their broad application spectrum, including high thermal stability, UV protection, corrosion prevention, and exceptional coating capability.Semiconductor Encapsulation: The semiconductor encapsulation sector led the market, driven by increased demand across various industries for protecting semiconductors against environmental factors.
Electronics Sector: The electronics sector held the largest market share, primarily due to EMCs' corrosion resistance, thermal strength, and heat resistance properties.
Regional Frontiers
Asia Pacific Dominance: Asia Pacific is expected to account for the largest market share, driven by increased demand in steel manufacturing across various end-use industries, infrastructure building, and automotive applications.Rapid Growth in North America: North America is anticipated to witness significant market growth, fueled by rising consumer purchasing power, technological advancements in chemical processing, and investments in innovation.
Competitive Landscape
Major market players are investing significantly in research and development to diversify their product offerings, drive innovation, and expand distribution networks. Notable developments include product launches, partnerships, mergers and acquisitions, and collaborations.Leading Players in the Global EMC Space
- Sumitomo Bakelite Ltd.
- Hitachi Chemical
- Chang Chun Petrochemical
- Hysol Huawei Electronics Ltd.
- Panasonic
- Kyocera
- KCC Corporation
- Samsung SDI
- Eternal Materials
- Jiangsu NOVORAY New Material Co., Ltd.
- Shin-Etsu Chemical
- Hexion
- Nepes
- Tianjin Kaihua Insulating Material
- Nitto Denko Corporation
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Sumitomo Bakelite Co. Ltd.
- Hitachi Chemical
- Chang Chun Petrochemical
- Hysol Huawei Electronics Co. Ltd.
- Panasonic
- Kyocera
- KCC Corporation
- Samsung SDI
- Eternal Materials
- Jiangsu NOVORAY New Material Co., Ltd.
- Shin-Etsu Chemical
- Hexion
- Nepes
- Tianjin Kaihua Insulating Material
- Nitto Denko Corporation
Methodology
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