The Radio Frequency Transmitter Encapsulant Market is estimated to be valued at US$ 2.53 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The radio frequency transmitter encapsulant market comprises encapsulating materials that provide protection to radio frequency components from environmental and mechanical stress. These encapsulants offer high reliability to electronic components operating at high frequencies by preventing moisture penetration, corrosion, and physical damage. They possess excellent thermal conductivity and resistivity helping components operate efficiently in extreme conditions.
Market key trends:
Growing applications of 5G technology across various industry verticals is a key trend fueling demand in the market. 5G networks require installation of multiple mini base stations to maintain uninterrupted connectivity which is expected to drive encapsulant usage. Also, increasing proliferation of IoT devices and wireless communication modules in automotive, consumer electronics and industrial equipment is augmenting sales. Manufacturers are continuously developing advanced material formulations to improve dielectric properties, thermal dissipation and reliability of electronic components operating at millimeter wave bands. This is expected to support market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The high costs of R&D and production threatens new entrants in the radio frequency transmitter encapsulant market. Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of several established manufacturers producing RF encapsulant. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute raw materials. Threat of new substitutes: The threat of substitutes is low as encapsulants plays a vital role in ensuring electronics reliability, thermal performance and shock/vibration protection in RF transmitters. Competitive rivalry: Competition is high among manufacturers.
SWOT Analysis
Strength: Radio frequency transmitter encapsulant provides protection against environmental factors which extends product lifetime. Weakness: Stringent regulations regarding material usage increases production costs. Opportunity: Growing adoption of 5G technology and increasing demand for connected devices boost market growth. Threats: Fluctuations in raw material prices can impact manufacturing costs.
Key Takeaways
The global Radio Frequency Transmitter Encapsulant Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand for internet connectivity and use of RF devices. Regionally, Asia Pacific dominates more than 35% of the market and is expected to be the fastest growing region over the forecast period due to rapid industrialization and growing electronics industry in countries such as China and India. Key players operating in the radio frequency transmitter encapsulant market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, Qorvo.
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