Electronic Adhesives Market Analysis, Global Size, Share, Emerging Trends, Demand by Region with the Forecast to 2023
Electronic Adhesives Market Forecast to 2023:
The global electronic adhesives market is expected to have a favorable growth at a striking CAGR over the estimated years (2017-2023). As opposed to any other industry where adhesives are used to adhere two substrates together, in the electronics industry their needs are unique. Right from adhesives which protect the delicate wiring in the motherboard against vibration to the electrically conductive glue which allows the electric circuits to complete, often electronics adhesives are used for offering much more than merely a strong bond. Cold glue and hot melt adhesives are used in numerous electronics applications such as encapsulating components, binding surface-mounts components, wire tacking and more. The various raw materials utilized in producing electronic adhesives include cyanoacrylates, polyurethanes, polysulfides, epoxies and silicones.
There are abundant factors that is propelling the growth of the electronic adhesives market. These factors as per the MRFR (Market Research Future) report include technological advancements, safety regulation implementation for electronic applications, solid-state semiconductor technology implementation in consumer and industrial applications, and investment on research and development activities made by companies for the utilization of microelectronic devices especially in niche applications. The additional factors include increase in need for lighter and compact components, growth in penetration of IoT (internet of things), use of electronic components in different applications namely aircraft, imaging devices, medical devices, consumer electronics and automotive, increase in the use of connected devices, consumers changing lifestyle, increase in disposable income and increase in use of automated appliances. On the contrary, high installation costs of product assembly, packaging and lamination of advanced machinery is likely to hinder electronic adhesives market growth.
Global Key Players:
- Kyocera Chemical Corporation
- The Dow Chemicals Company
- Hitachi Chemicals Company Limited
- Mitsui Chemicals
- LG Chemical Limited
- Indium Corporation
- Henkel AG & Co. KGaA
- B. Fuller Company
- BASF SE
- Alent PLC
- 3M Company
March 2019- Henkel is all set to organize an exclusive webinar, “Electronic Adhesives for Tomorrow’s Vehicles” on September 10, 2019. This webinar will focus on the huge electronics adhesives portfolio that Henkel offers. It will enable reliability and efficiency in multiple system crucial automotive applications such as electronic modules utilized for power storage systems, power conversion, wire harness, sensors, lidar modules, radar, powertrain controls camera and more.
MRFR report offers a broad segmental analysis of the Electronic Adhesives Market on the basis of form, type and application.
Based on form, it is segmented into paste electronic adhesive, solid electronic adhesive and liquid electronic adhesive. Of these, liquid electronic adhesive will have the maximum share in the market over the estimated years.
Based on type, the electronic adhesives market is segmented into UV curing, thermally conducive, electrically conducive and others. Of these, the electrically conducive segment will lead the market over the estimated years.
Based on application, it is segmented into integrated circuit, semiconductor, printed circuit boards and others.
By region, the electronic adhesives market covers growth opportunities and latest trends across Latin America, Europe, North America, Asia Pacific and Middle East & Africa. Of these, APAC will have a major share in the market owing to the growing automotive and electrical industry here coupled with favorable government policies namely incentives and tax benefit. China, India and Japan are the key contributors here. The electronic adhesives market in North America will have a healthy growth owing to increasing use of electronic adhesives and the presence of developed end-user industries. The US and Canada are the key contributors here. The electronic adhesives market in Europe will have a steady growth due to growing utilization of electronic adhesives especially in the automotive industry.
The electronic adhesives market is competitive and fragmented due to limited accessibility of suppliers and growing number of buyers. The key players are using various strategies such as new product development and new product launch, partnerships., merger and acquisition and expansion to attain growth in the market. In fact, they are mainly laying emphasis on offering low-cost and high-quality adhesives for numerous applications namely PCB and semiconductors.
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