According to Custom Market Insights (CMI), The Global Epoxy Molding Compounds Market Size was valued at USD 2086.0 million in 2021 and is estimated to reach USD 3400.0 million by the end of 2030 at a CAGR of approximately 6.2% during the forecast period 2022-2030. Epoxy molding compounds are a type of solid polymer fillers which are used as a base coverage for semiconductor and electronic devices.
The solid powder formulations are converted into liquid to take the shape of a vessel after cooling. Epoxy molds have extensive properties such as reliability, heat resistance, UV protection, etc., that prevent the semiconductors and electronic equipment from heat, shock, moisture, and other disturbances. The components of epoxy compounds include epoxy resin, silica, hardener, and other addictive substances. Epoxy molds are widely used in various industries, including aerospace, automotive, building, construction, etc.
Browse the full “Epoxy Molding Compound Market Size, Trends and Insights By Type (Normal epoxy molding compound, Green epoxy molding compound), By End-User/Application (Semiconductor encapsulation, Electronic components), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/epoxy-moulding-compound/
Epoxy molding compound Market Dynamics
The properties of epoxy molding compounds overcame the limitations of the traditional resin market, driving the market growth.
The traditional casting resins were used as molding compounds, soon replaced by epoxy molds, which drives the market growth for epoxy molding compounds. These molding compounds are better than the conventional ones in terms of UV protection, corrosion resistance, heat resistance, tolerance, etc., due to which the demand for epoxy molding compounds has increased in the market.
The increase in demand for epoxy molding compounds across electronic and semiconductor producers drives market growth.
Epoxy molds are used as a semiconductor to encapsulate multiple electronic components such as connectors, power suppliers, inductors, etc., which increases the demand for epoxy resins across various industries.
The rise in health concerns drives the market growth for green epoxy compounds.
The traditional epoxy molding compounds are made of certain chemicals that are not a significant threat to the environment but can cause minor complications like skin irritation or itchiness. The green epoxy mold, extracted from the plant derivatives like latex, is the better alternative to epoxy resin production, driving the market growth.
The investments by critical players lead to the enhancement of market value.
Various investment strategies have led the key companies to enhance their position in the market, due to which the market value of epoxy molding compounds has also increased globally.
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The regulatory implementations to avoid hazardous substances may hamper the growth of the epoxy molding compound market. In addition, the high initial cost and the complex designs to meet the demand lead to obstacles for the manufacturing industries, which may hamper the market growth. Apart from that, molding compounds are widely used in various sectors but cause health issues such as cough, eye irritation, skin irritation, throat infection, etc., which can cause a decline in the epoxy molding market.
The increase in awareness related to health and hygiene has created ample opportunity for molding compounds in various sectors. The packaging industries across different regions widely use epoxy molds. Also, frequent investments across other sectors are expected to enhance the market in the forecast period, and the market has a high chance for growth.
The emergence of advanced light fibre injection can be challenging for the epoxy molding compound market. The LFI, due to its extensive properties, is a better alternative for molding sheets, which can be challenging for the epoxy compound market. In addition, the LFI is comparatively cost-efficient and has equal good properties to the epoxy materials. Along with that, the hike in the price of carbon fibre has led industries to shift toward long-fibre injection.
Based on the type, the standard epoxy mold segment dominated the market in 2021. This domination can be attributed to the low-cost processing and maintenance, ease of manufacturing, high thermal stability, excellent coating, and UV resistance. In addition, epoxy substances are widely used as insulators, especially in transistors and electrical circuits, to protect the equipment from moisture, corrosion, dirt, etc., for long time protection.
Based on an end-use or application, the semiconductor encapsulation segment has held the largest market share in 2021 and is poised to grow significantly during the forecast period. This growth can be attributed to the vast usage of epoxy molds as semiconductors that covers electronic equipment and prevents heat dissipation, shock, corrosion, and other problems.
As per the geographical distribution, the Asia-Pacific region will dominate the epoxy molding compound market in 2021, with 84% of the market share. The rapid demand for iron and steel production from various industries has led manufacturers to increase the use of molding compounds to stabilize the temperature. The epoxy molds are in high demand due to their extensive properties, which enhance their market value across APAC. According to the reports by Brands Equity Foundation, steel consumption in India is anticipated to increase, due to which the epoxy mold market is projected to grow in the forecast period.
- Sumitomo Bakelite
- Hitachi Chemical
- Chang Chun Group
- Hysol Huawei Electronics
- Samsung SDI
- Eternal Materials
- Jiangsu Zhongpeng New Material
- Shin-Etsu Chemical
- Tianjin Kaihua Insulating Material
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