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), By Industry Vertical (Electrical, Automotive, Aerospace, Others) and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Sumitomo Bakelite
- Hitachi Chemical
- Chang Chun Group
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Epoxy Molding Compound Market Size was valued at USD 2086.0 million in 2021 to USD 2188.1 million in 2022 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.
The epoxy mold is a type of solid polymer, a silicon-based filler used to encapsulate semiconductors or electronic devices. The molds are created when the solid powder converts into a liquid mold through heat. When in liquid form, the molds can take the shape of any material after heating.
There are widely used along with other materials such as wood, metal, and fabric to enhance furniture and home décor items. The epoxy molds protect semiconductors and electronic devices from external disturbances like moisture, heat, shock, corrosion, etc. The major components of epoxy molds include hardener, silica, epoxy resin, and other additives.
Epoxy molding compounds are widely used as a metal substitute in various end-use industries such as automotive, building and construction, manufacturing, aerospace, etc. The wide usage of epoxy molds is contributed by their extensive insulation properties and protection of electronic equipment from corrosion, heat, shock, etc. The molds are dynamically stable and are manufactured at reduced prices. The increase in demand for epoxy compounds due to their.
Growth Factors
The epoxy molding compound is a better alternative to conventional resin molding materials that drive market growth.
The casting resins were traditionally used as a mold; however, the epoxy resin overcomes certain limitations of the traditional resin mold, which drives the market growth for epoxy molding compounds. The epoxy molds are comparatively better than traditional resins in terms of heat resistance, tolerance, UV protection, hardness, corrosion resistance, etc. Such factors serve as driving factors for the epoxy molding compound market growth.
Demand for electronic components from various industries drives the market growth of epoxy resins.
The demand for electronic components from various industries, such as automotive, consumer electronics, aerospace, defense, etc., tends to boost the market growth of epoxy molds. The epoxy mold is used as a semiconductor encapsulation to cover the electronic components like inductors, connectors, power suppliers, etc., to prevent them from shock.
The increase in demand for green epoxy molding compounds drives the epoxy molding market growth.
Compared to the traditional polyester or chemical-driven molding compounds, the green epoxy molds are made of plant-based products such as legumes and plant latex, which are on the safe side per the environmental concern. Also, traditional molding compounds are chemicals that can cause skin irritation. Such aspects drive the market growth for green epoxy resins.
The progressive transport networks and the increase in urbanization propel the epoxy molding compound market growth.
There is a rise in demand for epoxy molding compounds due to the increase in urbanization and the subsequent development in the transport network, which drives market growth. Epoxy molding compounds have a long-lasting capacity and other useful properties compared to conventional ones. For such reasons, epoxy molding compounds are highly demanded worldwide.
Epoxy Molding Compound Market Segmentation
The market is segmented based on type, end-user or Application, and region.
Market segmentation based on the type
Based on type, the market is segmented into normal and green epoxy molding compounds. The normal epoxy mold segment has dominated the market in 2021 and is poised to grow at a significant CAGR rate in the forecast period.
The normal epoxy mold segments are widely used in various industries due to their extensive properties like high thermal stability, excellent coating capability, UV protection, prevention from corrosion, etc. They are a coating material for transistors and electric circuits to prevent them from outer disturbances, including moisture, shock, dirt, dust, etc. The market domination of the normal epoxy segment can be attributed to the conventional manufacturing process, low cost-processing and easy maintenance.
The main composition of the normal epoxy mold includes phenolic resin, epoxy resin, and catalytic silicone compounds. It is the most primitive epoxy mold compound, mainly used as packaging for materials like diodes and transistors and a surface lamination for electronic circuits.
Market segmentation based on Application
Based on end-user or Application, the epoxy molding market is segmented into semiconductor encapsulation and electronic components. As per the revenue, the semiconductor encapsulation segment has dominated the market in 2021 and is expected to grow significantly during the forecast period. The rise in demand across various industries has led to the market’s growth. Epoxy molds are abundantly used to coat the semiconductors to prevent them from corrosion, heat dissipation, moisture, etc.
The encapsulation refers to forming a solid cover using the epoxy mold under which lies the semiconductor chip. The composition includes the resin and hardener, which creates strong molds which can surround circuit boards, wires, wafers, lead frames, etc.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 2086.0 million |
| Projected Market Size in 2030 | USD 3400.0 million |
| CAGR Growth Rate | 6.2% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Sumitomo Bakelite, Hitachi Chemical, Chang Chun Group, Hysol Huawei Electronics, Panasonic, Kyocera, KCC, Samsung SDI, Eternal Materials, Jiangsu Zhongpeng New Material, Shin-Etsu Chemical, Hexion, Nepes, Tianjin Kaihua Insulating Material, HHCK, and Others |
| Key Segment | By Type, End-User/Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
Based on the region, the epoxy molding compound market is distributed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific has dominated the epoxy molding market with a market share of more than 40% in 2021 and is poised to grow at a significant CAGR of 6.1% during the forecast period. This can be attributed to the demand for high steel production in various end-use sectors, including construction infrastructure, automotive, and other industries.
The increase in iron and steel production demand has led to the high production of molding compounds used for temperature stability. Currently, China holds the 13% market share of the epoxy mold market across APAC, followed by japan with a 10% market share. The consumer goods industry of China has focused on the initiatives like corrosion resistance, which is the major factor for epoxy market growth across APAC regions.
Key Players
The emerging key players have invested in multiple projects to enhance their position in the market, which positively impacted the epoxy molding compound market.
The profiled companies:
- Sumitomo Bakelite
- Hitachi Chemical
- Chang Chun Group
- Hysol Huawei Electronics
- Panasonic
- Kyocera
- KCC
- Samsung SDI
- Eternal Materials
- Jiangsu Zhongpeng New Material
- Shin-Etsu Chemical
- Hexion
- Nepes
- Tianjin Kaihua Insulating Material
- HHCK
Covid-19 Impact on Epoxy Molding Compound Market
· The arrival of the pandemic has globally affected the market, and the epoxy molding compound market is also one of them, which has witnessed a decline since the pandemic. The implementation of the lockdown caused the temporary shutdown of industries, due to which the supply chains were disrupted, which harmed the epoxy molding compound market.
· Along with that, the shutdown of the manufacturing plants led to a shortage in labor and production loss, especially across regions like Europe and APAC.
· Government-driven regulations and increased awareness regarding work safety brought an additional challenge for the epoxy molding compound market, which led to the disruption in operation and manufacturing process, which negatively impacted the market.
· The lack of investments and the breakdown of the transport chain hampered the market growth during the pandemic.
Recent Developments
- In July 2021, Sumitomo Bakelite Co. Ltd. announced an increase in its production rate through the installment of the equipment manufacturing unit and semiconductor packaging to enhance its product portfolio. Currently, Sumitomo is the leading company that owns 40% of the market share of the epoxy molding compound market.
- In 2021, a Japanese company named Shin-Etsu announced the manufacturing and production of electrophysiological dry electrodes and wiring materials with high elasticity, which are expected to become the next-generation wearable devices for health purposes.
- In 2018, Panasonic Corporation, Osaka, Japan, announced the commercialization of a granular semiconductor specially designed for panel-level packaging (PLP) and fan-out water-level package (FOWLP). The developed products are expected to enhance the productivity of the semiconductor packages at reduced manufacturing costs.
- In 2017, Kyoto/ London Kyocera Corporation announced the construction high –a thermal-conductivity epoxy molding compound with a 6W/mK thermal conductivity range. This development made a significant increase in the production of semiconductor components.
- In March 2017, the Columbus-based company named Hexion Inc. introduced the prominent epoxy resin system, which served the purpose of styrene-free manufacturing compound as per the environmental concern.
Market segments covered in the report
By Type
- Normal epoxy molding compound
- Green epoxy molding compound
By End-User/Application
- Semiconductor encapsulation
- Electronic components
By Industry Vertical
- Electrical
- Automotive
- Aerospace
- Others
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Epoxy Molding Compound Market, (2022 – 2030) (USD Million)
- 2.2 Global Epoxy Molding Compound Market: snapshot
- Chapter 3. Global Epoxy Molding Compound Market – Industry Analysis
- 3.1 Epoxy Molding Compound Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Better Alternative To Conventional Resin Molding Materials
- 3.2.2 Demand For Electronic Components
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By End-User/Application
- Chapter 4. Global Epoxy Molding Compound Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Epoxy Molding Compound Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Epoxy Molding Compound Market – Type Analysis
- 5.1 Global Epoxy Molding Compound Market overview: By Type
- 5.1.1 Global Epoxy Molding Compound Market share, By Type, 2021 and 2030
- 5.2 Normal Epoxy Molding Compound
- 5.2.1 Global Epoxy Molding Compound Market by Normal Epoxy Molding Compound, 2022 – 2030 (USD Million)
- 5.3 Green Epoxy Molding Compound
- 5.3.1 Global Epoxy Molding Compound Market by Green Epoxy Molding Compound, 2022 – 2030 (USD Million)
- 5.1 Global Epoxy Molding Compound Market overview: By Type
- Chapter 6. Global Epoxy Molding Compound Market – End-User/Application Analysis
- 6.1 Global Epoxy Molding Compound Market overview: By End-User/Application
- 6.1.1 Global Epoxy Molding Compound Market share, By End-User/Application, 2021 and 2030
- 6.2 Semiconductor Encapsulation
- 6.2.1 Global Epoxy Molding Compound Market by Semiconductor Encapsulation, 2022 – 2030 (USD Million)
- 6.3 Electronic Components
- 6.3.1 Global Epoxy Molding Compound Market by Electronic Components, 2022 – 2030 (USD Million)
- 6.1 Global Epoxy Molding Compound Market overview: By End-User/Application
- Chapter 7. Epoxy Molding Compound Market – Regional Analysis
- 7.1 Global Epoxy Molding Compound Market Regional Overview
- 7.2 Global Epoxy Molding Compound Market Share, by Region, 2021 & 2030 (USD Million)
- 7.3. North America
- 7.3.1 North America Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.3.1.1 North America Epoxy Molding Compound Market, by Country, 2022 – 2030 (USD Million)
- 7.3.1 North America Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.4 North America Epoxy Molding Compound Market, by Type, 2022 – 2030
- 7.4.1 North America Epoxy Molding Compound Market, by Type, 2022 – 2030 (USD Million)
- 7.5 North America Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030
- 7.5.1 North America Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030 (USD Million)
- 7.6. Europe
- 7.6.1 Europe Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.6.1.1 Europe Epoxy Molding Compound Market, by Country, 2022 – 2030 (USD Million)
- 7.6.1 Europe Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.7 Europe Epoxy Molding Compound Market, by Type, 2022 – 2030
- 7.7.1 Europe Epoxy Molding Compound Market, by Type, 2022 – 2030 (USD Million)
- 7.8 Europe Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030
- 7.8.1 Europe Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030 (USD Million)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.9.1.1 Asia Pacific Epoxy Molding Compound Market, by Country, 2022 – 2030 (USD Million)
- 7.9.1 Asia Pacific Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.10 Asia Pacific Epoxy Molding Compound Market, by Type, 2022 – 2030
- 7.10.1 Asia Pacific Epoxy Molding Compound Market, by Type, 2022 – 2030 (USD Million)
- 7.11 Asia Pacific Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030
- 7.11.1 Asia Pacific Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030 (USD Million)
- 7.12. Latin America
- 7.12.1 Latin America Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.12.1.1 Latin America Epoxy Molding Compound Market, by Country, 2022 – 2030 (USD Million)
- 7.12.1 Latin America Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.13 Latin America Epoxy Molding Compound Market, by Type, 2022 – 2030
- 7.13.1 Latin America Epoxy Molding Compound Market, by Type, 2022 – 2030 (USD Million)
- 7.14 Latin America Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030
- 7.14.1 Latin America Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030 (USD Million)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.15.1.1 The Middle-East and Africa Epoxy Molding Compound Market, by Country, 2022 – 2030 (USD Million)
- 7.15.1 The Middle-East and Africa Epoxy Molding Compound Market, 2022 – 2030 (USD Million)
- 7.16 The Middle-East and Africa Epoxy Molding Compound Market, by Type, 2022 – 2030
- 7.16.1 The Middle-East and Africa Epoxy Molding Compound Market, by Type, 2022 – 2030 (USD Million)
- 7.17 The Middle-East and Africa Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030
- 7.17.1 The Middle-East and Africa Epoxy Molding Compound Market, by End-User/Application, 2022 – 2030 (USD Million)
- Chapter 8. Company Profiles
- 8.1 Sumitomo Bakelite
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Hitachi Chemical
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Chang Chun Group
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Hysol Huawei Electronics
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Panasonic
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Kyocera
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 KCC
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Samsung SDI
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Eternal Materials
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Jiangsu Zhongpeng New Material
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Shin-Etsu Chemical
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 Hexion
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Nepes
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.14 Tianjin Kaihua Insulating Material
- 8.14.1 Overview
- 8.14.2 Financials
- 8.14.3 Product Portfolio
- 8.14.4 Business Strategy
- 8.14.5 Recent Developments
- 8.15 HHCK
- 8.15.1 Overview
- 8.15.2 Financials
- 8.15.3 Product Portfolio
- 8.15.4 Business Strategy
- 8.15.5 Recent Developments
- 8.1 Sumitomo Bakelite
List Of Figures
Figures No 1 to 18
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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The profiled companies:
- Sumitomo Bakelite
- Hitachi Chemical
- Chang Chun Group
- Hysol Huawei Electronics
- Panasonic
- Kyocera
- KCC
- Samsung SDI
- Eternal Materials
- Jiangsu Zhongpeng New Material
- Shin-Etsu Chemical
- Hexion
- Nepes
- Tianjin Kaihua Insulating Material
- HHCK
- Others
FAQs
The “Asia-Pacific” region will lead the global Epoxy Moulding Compound market during the forecast period 2022 to 2030.
The key factors driving the market are alternatives to conventional resin molding materials, electronic components from various industries and green epoxy molding compounds.
The key players operating in the Epoxy Moulding Compound market are Sumitomo Bakelite, Hitachi Chemical, Chang Chun Group, Hysol Huawei Electronics, Panasonic, Kyocera, KCC, Samsung SDI, Eternal Materials, Jiangsu Zhongpeng New Material, Shin-Etsu Chemical, Hexion, Nepes, Tianjin Kaihua Insulating Material, HHCK.
The global Epoxy Moulding Compound market is expanding growth with a CAGR of approximately 6.2% during the forecast period (2022 to 2030).
The global Epoxy Moulding Compound market size was valued at USD 2086.0 million in 2021 and it is projected to reach around USD 3400.0 million by 2030.