Thermosetting Moulding Market Expected to Reach New Heights by 2034

in #thermosetting15 days ago

The global thermosetting molding materials for electronics market is valued at USD 1.4 billion in 2024 and is projected to grow at a CAGR of 5.3%, reaching USD 2.5 billion by 2034.

The thermosetting moulding material market for electronics has emerged as a critical segment within the broader electronic materials industry, driven by the increasing demand for robust, heat-resistant, and durable materials in electronic components. Thermosetting moulding materials are essential for various applications, including encapsulation and insulation, protecting sensitive electronic parts from heat and mechanical stress. These materials, which cure irreversibly when heated, provide excellent dimensional stability, electrical insulation, and chemical resistance. As the electronics industry expands, particularly in consumer electronics, automotive, and industrial sectors, the need for thermosetting moulding materials continues to grow, making them indispensable for high-performance electronic applications.

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Market Insights

The thermosetting moulding material market for electronics has become crucial in supporting advancements in electronic manufacturing, where durability, thermal resistance, and reliability are paramount. These materials, often composed of epoxy, phenolic, or melamine resins, are highly suited for complex electronics due to their mechanical stability and resistance to environmental factors. They are widely used in the encapsulation of microchips, connectors, and printed circuit boards (PCBs), which are essential for safeguarding components in high-temperature conditions. The increased demand for miniaturized electronic devices has placed thermosetting moulding materials at the forefront, as they enable compact designs without sacrificing structural integrity. Additionally, with the growing interest in electric vehicles (EVs) and renewable energy systems, which require durable, long-lasting electronic components, the demand for these moulding materials is set to rise even further.

Market Outlook

The future outlook for the thermosetting moulding material market in electronics is highly promising, with significant growth projected over the coming years. As technology evolves and consumer demand for advanced electronics intensifies, manufacturers are focusing on producing lightweight, high-performance materials. Emerging markets, particularly in the Asia-Pacific region, are expected to lead this growth due to increasing industrialization and rising electronic manufacturing. Additionally, stringent regulations and a push toward sustainable manufacturing are influencing the industry, encouraging manufacturers to develop eco-friendly thermosetting materials. As the world shifts towards smart technology, such as the Internet of Things (IoT), wearable devices, and advanced sensors, the thermosetting moulding material market is anticipated to play an integral role in supporting these innovations with high-reliability solutions.

Market Growth

Several factors are driving the growth of the thermosetting moulding material market for electronics. One of the most prominent growth factors is the continuous advancement in electronic devices, which requires high-quality materials to meet performance demands. The automotive sector is particularly influential, as modern vehicles incorporate numerous electronic components for safety, infotainment, and autonomous driving capabilities. Thermosetting moulding materials are vital in ensuring these components function reliably under varying conditions. Furthermore, the expanding renewable energy sector requires robust electronic systems to manage power distribution, thus increasing demand for durable moulding materials. In parallel, the trend towards miniaturization in electronics necessitates moulding materials that offer high strength in compact forms, further fueling market growth.

List of Key Companies Profiled in The Report

Unimin-Sibelco
Golovach Quartz
The Quartz Corporation
Tosoh Corporation
ANZAPLAN GmbH
HPQ Silicon Resources Inc.
Jiangsu Pacific Quartz Co
Others

Recent Industry News

In recent industry news, major players in the thermosetting moulding material market have announced new product lines and technological upgrades to keep pace with evolving demands in electronics manufacturing. Companies are increasingly focused on the development of high-strength, lightweight materials, launching products designed specifically for applications in high-temperature and high-stress environments. Additionally, strategic partnerships between material manufacturers and electronics companies have been on the rise, aiming to co-develop materials that meet specific performance criteria for emerging technologies like 5G and IoT. Several companies have also expanded their manufacturing capabilities, with new facilities announced in Asia-Pacific to cater to the region’s growing electronics manufacturing sector. This expansion is expected to bolster supply chains and address rising global demand.

Notable Developments

The thermosetting moulding material market has seen several notable developments recently. Advanced thermosetting materials that offer better mechanical properties, flame resistance, and environmental durability are being introduced by leading manufacturers. This includes innovations in epoxy-based moulding compounds that enhance performance under extreme conditions, making them ideal for applications in the automotive and aerospace sectors. In addition, some manufacturers are pioneering biodegradable thermosetting resins, addressing the growing demand for eco-friendly solutions. Other developments include automation enhancements in manufacturing, allowing for precision moulding and greater production efficiency. Such advancements are expected to reshape the landscape of electronic component manufacturing, offering high-performance, sustainable materials that support the evolving needs of modern technology.

Competitive Landscape

Key strategies in the market focus on environmental sustainability, with companies adopting eco-friendly materials and sustainable processes. Market expansion is driven by global partnerships and innovation for product efficiency and cost-effectiveness.

In December 2023, Hindawi introduced a self-healing thermosetting polymer for underwater applications, supported by R&D investments. In April 2017, Hexion Inc. launched Bakelite® PF 7835 LB Resin, a phenolic resin resistant to mechanical deformation, sterilization, and aggressive chemicals, ideal for protective linings in metal containers.