ID: MRFR/CnM/0412-HCR | February 2021 | Region: Global | 137 pages
The Global Electronic Adhesives Market is projected to grow at 6.5% CAGR during the forecast period. An adhesive is a substance that acts as a binder between two surfaces and resists their separation. Electronic adhesives are used for circuit protection and various electronic assembly applications such as bonding components, wire tacking, and encapsulating electronic components. These adhesives can also be used as coatings to protect the circuit board from detrimental environmental factors such as corrosion, temperature fluctuations, and moisture. Depending upon the function, electronic adhesives can be distinguished based on type. For instance, electrically conductive adhesives are used in a scanning electron microscope to ground the sample to avoid electrostatic charging of the surface. The global market is expected to be driven by increased demand for electronic adhesive in end-use industries, such as electronics and telecommunication. This is primarily attributed to the increased use of adhesives in assembling two dissimilar metals to prevent galvanic corrosion. The up-surging demand for consumer goods, coupled with the rapid growth of the electronics industry is likely to fuel the demand for electronic adhesives in the coming years. For instance, the consumer electronics association (CEA) in January 2018 predicted an increase of 3.95% in the consumer electronics sector over 2017 with a retail revenue of USD 351 billion. In addition, the increasing use of UV curing adhesives in the screen-printing process for image polymerization, thus eliminating the need for ratio mixing and solvent removal is further propelling the demand for the electronic adhesives market globally. Furthermore, the increasing use of adhesives as a favorable solder alternative such as isotropic conductive adhesives (ICA) especially in surface mount devices and flip-chip applications, are further creating lucrative opportunities for the players operating in the electronic adhesives market. Additionally, the rising demand for electric vehicles is expected to create growth opportunities for the electronic adhesives market. However, the stringent regulations pertaining to high VOC content in adhesives and unstable raw material prices used for the production of electronic adhesives are likely to hamper its growth in the global market.
3M Company (US), Alent PLC (UK), BASF SE (Germany), H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Indium Corporation (US), LG Chemical Limited (South Korea), Mitsui Chemicals (Japan), Hitachi Chemicals Company Limited (Japan), The Dow Chemicals Company (US), and Kyocera Chemical Corporation (Japan).
The global electronic adhesives market is analyzed for five major regions, namely, North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Asia-Pacific dominates the electronic adhesive market and is projected to register the highest CAGR during the forecast period owing to rising industrialization and urbanization in the region. China is the largest consumer in the global electronic adhesive market and is the fastest-growing market due to the booming electronics industry in the region. Additionally, the use of electronic adhesives in manufacturing components for electric vehicles such as printed circuit boards, lithium-ion batteries, and battery pack assemblies are facilitating the growth of the market. For instance, in 2018 China’s electric vehicle (EV) sales reached USD 1.2 million with an overall sales growth of 126%, thus making it world's largest electric car market, which is expected to propel the electronic adhesives. India and Southeast Asian countries are additionally driving the market growth on account of rising demand for brown and white goods in the region. According to the Indian Brand Equity Foundation (IBEF) report, appliance and consumer electronics (ACE) industry are expected to grow at 9% CAGR during 2017–2022. This is creating lucrative opportunities for the players operating in the electronic adhesives market in the region. North America accounted for a substantial market share in 2018. The growing demand for electronic adhesives in the advanced electronics and telecommunication industries coupled with the significant exports in the US and Canada is expected to drive the market. The US is the leading country in the region owing to the increase in demand for consumer electronics such as laptops and smartphones, which further drives the electronic adhesive demand in the region. The European region is also expected to showcase significant growth during the forecast period due to the use of electronic adhesives in electronic applications wire coatings, fastening of transistors, and diodes, among others. Additionally, the increase in the use of electronic adhesives in a wide range of applications in the automotive industry such as engine status displays, power electronic modules, sensors, and vision systems are expected to boost the electronic adhesives market growth in the region during the forecast period. Latin America and Middle East & Africa are expected to show substantial growth during the forecast period owing to the growing electronics industry and increased per capita disposable income in the region.
The global electronic adhesives market has been segmented by types, end-use industry, and region. Based on form, the global market is classified into liquid, paste, and solid. Based on resin type, the global market is classified into epoxy, acrylics, silicones, polyurethane, and others Based on type, the global market has been classified into non-conductive, electrically conductive, thermally conductive, and ultra-violet curing. Based on application, the global market has been classified into printing circuit board, semiconductor & ic, potting and encapsulation, conformal coatings, and others. By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Frequently Asked Questions (FAQ) :
The global electronic adhesives market is expected to exhibit a solid 6.5% CAGR over the forecast period from 2019 to 2025.
The growing electronics industry and telecommunications industry are likely to be the major drivers for the global electronic adhesives market.
Stringent regulations over the VOC content in adhesives and fluctuating raw material prices are likely to be the key restraints on the global electronic adhesives market over the forecast period.
Asia Pacific is the dominant regional market for electronic adhesives due to the growing electronics industry in the region.
Leading players in the electronic adhesives market include BASF, Alent, 3M, H.B. Fuller, Henkel, Hitachi, Mitsui, and LG Chem, among others.