Liquid Encapsulation Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Material Type (Epoxy Resins, Epoxy-Modified Resins, Others), By Product (Integrated Circuit, Optoelectronics, Sensors, Others), By Application (Automotive, Communication And Technology, Consumer Electronics, Manufacturing), And By Geography - Forecasts From 2022 To 2027

Published:  May 2022 Report Code: KSI061610206 Pages: 114

The liquid encapsulation market is projected to grow at a CAGR of 4.58% during the forecast period to reach US$2.235 billion by 2027, from US$1.634 billion in 2020. In the recent decade, the advancements in technology and growing research have drastically increased the prevalence of Microelectromechanical systems in the day-to-day lives of billions across the world. MEMS integrates semiconductor fabrication technology to design and develop a miniature-sized, ranging from less than 1 µm to a few mm, electro-mechanical and mechanical components. Owing to their small sizes and delicate architecture, they are prone to be easily affected by their surrounding molecules. Hence, the necessity for adequate packaging of these components became prominent, growing the demand for Liquid Encapsulation material. MEMS are encapsulated under low pressure and vacuum in the complete absence of water. With technological advancements, MEMS applications have become diverse, for instance, in Drug Delivery Systems, wherein MEMS have to handle liquids. In such cases, liquid encapsulation is increasingly used due to its promising attributes, increasing its demand. The growth of the Global Liquid Encapsulation market is segmented based on the liquid encapsulation material type, product, application, and geographical region. 

The increasing penetration of MEMS in the automobile industry and consumer electronics owing to the emergence of IoT is expected to add impetus to the growth of the market.

Liquid encapsulation of the MEMS offers low wrappage, low stress, and high thermal conductivity while ensuring the structural integrity of the components. The encapsulation prevents stiction among the components and thus is increasingly used in diverse fields such as nutraceuticals, agriculture, pharmaceuticals, automobiles, consumer electronics, and many more. The increasing demand for MEMS in diverse applications is leading to increased demand for liquid encapsulation technology. MEMS has become an indispensable integral component in today’s automobiles and consumer electronics segments. In the automobile segment, for instance, the consumption of MEMS is widely expanding as pressure sensors, inertial sensors, gas sensors, optical sensors, thermal sensors, and gas sensors. The growing demand for strong and reliable vehicle safety technology is driving in demand for MEMS in the said segment. The emergence of IoT and connected mobility solutions is further fuelling the market’s growth. For example, according to Bosch, the market for connected mobility is expected to grow by 25% by 2022. Their miniature size, low power consumption, low cost, speed, and reliability are the main attractive features of MEMS. Owing to this, they have become the heart of innovative devices like VR goggles, smartwatches, and fitness trackers, along with smartphones among consumer electronics. Henceforth, the increase in demand for semiconductors in various industries is positively affecting the growth of Liquid encapsulation as well. According to World Semiconductor Trade Statistics, the global semiconductor market grew by 26.2 % in 2021 and is further expected to witness a rise of 10.4 % in the year 2022.

By geography, the liquid encapsulation market is forecasted to grow in the Asia Pacific region rapidly. This growth could be attributed to the emergence of South Korea, China, Japan, and Taiwan as the Big Four. The wide market availability, increased government support, and growing research, investment, and developments are propelling the market demand in the region. The adoption of AI, automation, 5G, and in-vehicle automation are a few other factors impacting the growth in the region. According to WSTS, Pacific Asia showed 26.5 percent in the global landscape. 

The increasing strategic deployments by public and private firms in the MEMS market in the global landscape are anticipated to drive the Liquid Encapsulation Market in the forecasted period. 

To meet the growing demand for MEMS, several strategic deployments deployed by the leading global companies like Bosch, USound, and SensiBel, among many others, are likely to affect the liquid encapsulation market positively. In May 2020, for instance, SiTime, a global MEMS provider, and Bosch, a leading engineering company, teamed up to design and develop next-generation MEMS resonator solutions. Through this collaboration, the two will be able to develop an innovative MEMS resonator, which enables quicker speeds of 5G, optimized driver assistance solutions in automobiles, and also increase the IoT device's battery life. While in Europe, in February 2022, Elemaster Electonic Technology and USound collaborated with the objective of developing MEMS speakers, to enhance their brand presence in the audio industry. Also, in May 2022, a Norway-based European microphone technology provider closed its €15 million funding round led by TRUMPF venture to speed up its optical MEMS-based microphone solutions. These microphones are found in the automobile industry, medical devices, and consumer electronics. In January 2022, another global electronic solutions provider, TDK Corporation, launched SmartMotion, the first-ever BalancedGyro technology-based ultra-high-performance solution. This innovative device is designed particularly to meet the growing complex demand of the consumer technology segment. 

COVID-19 Insights

COVID-19 had cooled down the Liquid Encapsulation market. Lockdown, social distancing, and subsequent closure of production sites across the world due to a surge in active cases negatively affected the productivity of several firms. The lack of manpower, stringent border controls, port closures, and reduced air transport availability were a few of the factors that affected the market and caused the market to slow down. Nevertheless, post-pandemic, it is expected to show positive growth owing to an increase in demands for semiconductors in many industries to meet the need for rapid automation adoption.

Liquid Encapsulation Market Scope:

Report Metric Details
 Market size value in 2020  US$1.634 billion
 Market size value in 2027  US$2.235 billion
 Growth Rate  CAGR of 4.58% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Material Type, Product, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered BASF, Epic Resins, Panasonic Corporation, Sumitomo Bakelite, KYOCERA Chemical Corporation, Shin-Etsu Chemical, Nagase & Co., Nitto Denko Corporation, Resin Technical systems, CAPLINQ Corporation
 Customization scope  Free report customization with purchase

 

Key Market Segments

  • By Material Type
    • Epoxy Resins
    • Epoxy-Modified Resins
    • Others
  • By Product
    • Integrated circuit
    • Optoelectronics 
    • Sensors 
    • Others
  • By Application
    • Automotive
    • Communication and Technology
    • Consumer Electronics
    •  Manufacturing
  • By Geography
    • North America
      • US
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • Japan
      • China
      • Taiwan
      • India
      • South Korea
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the liquid encapsulation market size by 2027?
A1. The liquid encapsulation market is projected to reach a market size of US$2.235 billion in 2027.


Q2. What are the growth prospects for the liquid encapsulation market?
A2. The global liquid encapsulation market is projected to grow at a CAGR of 4.58% during the forecast period.


Q3. What is the size of the global liquid encapsulation market?
A3. Liquid Encapsulation Market was valued at US$1.634 billion in 2020.


Q4. Which region holds the largest market share in the liquid encapsulation market?
A4. Asia Pacific region is expected to hold a significant share in the liquid encapsulation market.


Q5. What factors are anticipated to drive the liquid encapsulation market growth?
A5. The increasing penetration of MEMS in the automobile industry and consumer electronics owing to the emergence of IoT is expected to add impetus to the liquid encapsulation market growth.

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
1.5.  Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline


2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources


3. EXECUTIVE SUMMARY


4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis


5. LIQUID ENCAPSULATION MARKET BY SENSOR TYPE
5.1. Introduction
5.2. Epoxy Resins
5.3. Epoxy-Modified Resins
5.4. Others


6. LIQUID ENCAPSULATION MARKET BY END-USER INDUSTRY
6.1. Introduction
6.2. Integrated circuit
6.3. Optoelectronics 
6.4. Sensors 
6.5. Others


7. LIQUID ENCAPSULATION MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. US
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Others
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE 
7.5.3. Others
7.6. Asia Pacific
7.6.1. Japan
7.6.2. China
7.6.3. Taiwan
7.6.4. India
7.6.5. South Korea
7.6.6. Indonesia
7.6.7. Others


8. COMPETITIVE ENVIRONMENT AND ANALYSIS 
8.1. Vendor Matrix and Analysis
8.2. Investment Analysis
8.3. Recent Deals
8.4. Strategies of Key Players


9. COMPANY PROFILES
9.1. BASF
9.2. Epic Resins
9.3. Panasonic Corporation
9.4. Sumitomo Bakelite
9.5. KYOCERA Chemical Corporation
9.6. Shin-Etsu Chemical 
9.7. Nagase & Co. 
9.8. Nitto Denko Corporation
9.9. Resin Technical systems
9.10. CAPLINQ Corporation

BASF

Epic Resins

Panasonic Corporation

Sumitomo Bakelite

KYOCERA Chemical Corporation

Shin-Etsu Chemical 

Nagase & Co. 

Nitto Denko Corporation

Resin Technical systems

CAPLINQ Corproration

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