Thermosetting Moulding Material for Electronics Market to Reach US$ 2.5 Billion by 2034 With 5.3% CAGR

North America and East Asia collectively account for over two-thirds share of the global thermosetting moulding material for electronics market, says Fact.MR.

ROCKVILLE PIKE SUITE, ROCKVILLE, USA, May 20, 2024 /EINPresswire.com/ --
Fact.MR, a market research and competitive intelligence provider, has released a new study that puts the global thermosetting moulding material for electronics market(エレクトロニクス市場向け熱硬化性成形材料)at a valuation of US$ 1.4 billion in 2024, with growth projections at a CAGR of 5.3% between 2024 and 2034.

Thermoset plastic is a vital material that is widely used in the modern world. It is used in everything from mobile phones to printed circuit boards (PCB) and in the aerospace industry. Development of electric aircraft is expected to boost the demand for lightweight structures even more, and thermosetting mould materials for electronics can be one of the many ideal solutions for this.

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Large-scale usage leads to the accumulation of thermoset waste, which creates the need for the recycling of thermosetting mould material. The World Economic Forum is expecting to replace the non-recyclable thermoset polymer with recyclable thermoset polymer by 2025. Furthermore, thermoset mould material is challenging to repair. Companies are coming up with self-healing thermosetting polymers, which is a promising solution for repairing damage and increasing serving life.

For instance, in December 2023, Hindaw launched a self-healing thermosetting polymer for underwater applications.

Key Takeaways from Market Study

The global thermosetting moulding material for electronics market is set to expand at a robust CAGR of 5.3%, projected to reach a market value of US$ 2.5 billion by 2034. From 2019 to 2024, the market experienced a CAGR of 3.8%, creating a significant opportunity valued at US$ 1.4 billion. This growth trajectory underscores the increasing demand for durable and efficient materials in the electronics industry, driven by advancements in technology and the rising adoption of electronic devices.

North America is expected to hold a substantial market share, estimated at 29.1% by 2034. Leading companies in this market include Unimin-Sibelco Golovach Quartz, The Quartz Corporation, Tosoh Corporation, Nordic Mining ASA, CB Minerals, Ashland Global Holding Inc., and BASF SE, which are pivotal in driving innovation and market expansion. The consumer electronics sector, in particular, is forecasted to grow at an impressive CAGR of 38.8%, creating an absolute dollar opportunity of US$ 415 million by 2034. Additionally, North America and East Asia together are anticipated to offer a combined absolute dollar opportunity of US$ 719.2 million over the coming years, highlighting these regions' significant contributions to market growth.

“Recyclable thermosetting mould material will be the thing of the future, which is where thermosetting moulding material for electronics manufacturers should focus on,” says a Fact.MR analyst.

Market Growth Stratagems

Thermosetting mould material companies are strategically prioritizing research and development (R&D) to produce recyclable thermosetting material and self-healing polymers to ensure that they meet evolving market demands and government regulations. Customization is integral, and offering tailored solutions to suit diverse applications would be essential, while stringent quality control measures will uphold consistent product standards.

Why is Epoxy Thermosetting Mould in Such High Demand?

“Versatile Applications of Epoxy Resins across Industries”

Epoxies serve as key material across industries as they exhibit multifunctional attributes. Due to their dielectric strength-electrical conductivity and insulation strength-they play a crucial role in the electrical industry. They have a range of applications in motors, transformers, generators, and insulators.

Furthermore, unique physicomechanical properties allow for a wide range of applications in radio engineering and the aerospace industry. Epoxies are also used as a replacement for mechanical fasteners due to their anti-corrosive and adhesive properties.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the thermosetting moulding material for electronics market, presenting historical market data (2019 to 2023) and forecast statistics for the period of (2024 to 2034).

The study reveals essential insights based on material (high purity quartz (HPQ), competitive products), application (epoxies, polyester, polyurethane, polyimide, formaldehyde and melamine formaldehyde, bakelite, others), and end use (consumer electronics, automotive, aerospace), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, and the Middle East & Africa).

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