Electronic Adhesives Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The electrical adhesives market is estimated to be worth $ 4.82 billion in 2023 and is forecast to reach $ 7.06 billion by 2030, at a CAGR of 5.79%. The growing demand for electrical adhesives is driven by the increasing penetration of advanced technology in various end-use industries, such as the consumer electronics, automobile and renewable energy industries. High-performance electrical adhesives that can withstand extreme conditions and have superior bonding properties are in increasing demand. There are several factors driving the growth of the electrical adhesives market. Among them, the growing popularity of electric vehicles and the expansion of the renewable energy industry are significant contributors. The growing popularity of electric vehicles and the expansion of the renewable energy industry require specialized electrical adhesives for effective bonding and long-term reliability. In addition, the development of conductive and thermally conductive adhesives has improved the performance of electrical adhesives and widened their application. The key players in the market, such as Henkel AG & Co. KGaA, 3M Company and Dow Inc., are actively involved in strategic initiatives such as strategic alliances, R & D and product launches to strengthen their market position and meet the needs of end users.

Regional Market Size

Regional Deep Dive

The world market for electrical and electronic fasteners is experiencing significant growth, driven by the rapid technological development and the increasing demand for electrical and electronic equipment. In North America, the market is characterized by a strong presence of major players and a strong emphasis on innovation, especially in the automotive and consumer electronics industries. In Europe, the focus is on sustainable and eco-friendly solutions, while in Asia-Pacific, the market is growing rapidly due to the booming electronics industry. In the Middle East and Africa, the use of electrical fasteners is gradually increasing, driven by increasing investment in technology and improving infrastructure. Latin America is still a developing market, but it has a great deal of potential, driven by rising demand for consumer electronics and the establishment of local production.

Europe

• In Europe, the push for sustainability has led to the development of bio-based electronic adhesives, with companies like Loctite and Sika leading the charge in creating eco-friendly products that meet stringent EU regulations.
• The European Union's Green Deal is encouraging investments in research and development for advanced adhesive technologies, which is expected to enhance the competitiveness of local manufacturers.

Asia Pacific

• Asia-Pacific is witnessing rapid advancements in adhesive technology, with countries like China and Japan investing heavily in R&D, particularly in the semiconductor and consumer electronics sectors, where precision and reliability are critical.
• The region's growing e-commerce market is driving demand for packaging adhesives, with companies like Henkel and Dow expanding their product lines to cater to this emerging need.

Latin America

• Latin America is seeing a rise in local manufacturing capabilities, with countries like Brazil and Mexico investing in electronics production, which is driving the demand for electronic adhesives.
• The region's growing middle class is increasing consumer electronics consumption, prompting companies to adapt their adhesive solutions to meet local market needs.

North America

• The North American market is heavily influenced by the automotive industry's shift towards electric vehicles, with companies like 3M and Henkel developing specialized adhesives for battery assembly and electronic components.
• Recent regulatory changes aimed at reducing VOC emissions are pushing manufacturers to innovate and adopt more environmentally friendly adhesive formulations, which is reshaping product offerings in the market.

Middle East And Africa

• In the Middle East, government initiatives aimed at diversifying economies away from oil dependency are fostering growth in the electronics sector, leading to increased demand for electronic adhesives.
• The African market is gradually evolving, with local manufacturers beginning to produce electronic adhesives, supported by initiatives from organizations like the African Development Bank to boost technology adoption.

Did You Know?

“Did you know that electronic adhesives can withstand extreme temperatures, making them essential for applications in aerospace and automotive industries?” — Industry reports and technical specifications from leading adhesive manufacturers.

Segmental Market Size

In the midst of a growing demand for products such as automobiles, electronics, and building, the market for electro-adhesives is steadily expanding. The demand for lighter and more reliable materials in electronic devices and the increasingly stringent regulations on the use of non-toxic and eco-friendly materials are driving the market. Furthermore, the recent development of the adhesives industry has enhanced the performance and reliability of these materials, which has further driven the market. At present, the market is in a mature stage of development, with companies such as Henkel and 3M leading the way in new application development. North America and Asia-Pacific are the two regions that have led the way in the adoption of these products, especially in the manufacture of electric vehicles and consumer electronics. The most important applications are the components of mobile phones, tablets, and automobiles, where the performance of the adhesives is of paramount importance. The development of new products such as conductive and UV-curable adhesives and a focus on the reduction of energy consumption are driving the market.

Future Outlook

From 2023 to 2030, the Electronic Adhesives Market is estimated to grow at a CAGR of 5.79%. This growth will be primarily driven by the increasing demand for smart devices such as smart phones, wearables and electric vehicles, which require high-performance adhesives for their assembly and long-term performance. In addition, the growing preference for light and compact devices is expected to drive the demand for electronic adhesives with superior bonding strength and high thermal stability. Also, the development of conductive and green formulations is expected to drive market growth. The increasing emphasis on green manufacturing, prompted by regulatory policies and consumer preferences, is likely to encourage the use of green, low-emissions adhesives. Moreover, the trend towards miniaturization in the electronics industry will require adhesives that meet stringent performance requirements. The key to capturing this growth is R&D investment and strategic collaboration.