The global electronic adhesive market is rising continually, witnessing massive demand from the burgeoning ICT and consumer electronics market. Electronic adhesives are the primary solution for assembling smartphones, medical electronic devices, and electric vehicle components. Moreover, the latest trend of miniaturization of electronic devices that requires more complex designs and more adaptable faster curing process accelerates the market growth, creating massive market demand.
A leading research firm, 'Market Research Future' (MRFR), in its recently published analysis, asserts that the global electronic adhesive industry is expected to witness significant growth by 2027. MRFR also states that the market would register approximately 6.5% CAGR during the anticipated period (2020 - 2027). The market proliferation of smartphones and other wearable devices worldwide define the growing market landscape.
Other factors, such as the substantial growth in the electric vehicles and the advanced automotive industry, drive the market colossally. Advancements in electronic adhesion technologies act as a significant driving force behind the growth of the market. Mobile phones and smartphones are one of the prominent examples; similarly, housing motion sensors, gyroscopes microphones, and speakers are among others.
On the other hand, volatility in the price and demand-supply gap in raw materials required for production are the key factors affecting the growth of the market. Nevertheless, the increased demand for electronic adhesives in electronics and telecommunication industries for bonding two different metals together and to prevent galvanic corrosion would provide a considerable impetus to the market growth during 2020 - 2027.
Electronic Adhesive Market – Segmentation
MRFR has segmented the market into five market dynamics to widen the scope of understanding,
By Form : Liquid, Paste, and Solid.
By Resin Type : Epoxy, Acrylics, Silicones, Polyurethane, and others.
By Type : Non-Conductive, Electrically Conductive, Thermally Conductive, and Ultra-Violet Curing
By Application : Printing Circuit Board, Semiconductor IC, Potting Encapsulation, Conformal Coatings, and others.
By Regions : Asia Pacific, Europe, North America, and the Rest-of-the-World.
Electronic Adhesive Market – Regional Analysis
The Asia Pacific region dominates the global electronic adhesive market. The significant share of the market attributes to the augmented market penetration of smartphones and the demand for energy-efficient devices. APAC countries such as China, India, and Japan drive the regional market, majorly, witnessing the growing penetration of high-tech gadgets, rising miniaturization of electronics, and developments of auto electronics.
Besides, factors such as growing digitization, rapid industrialization, and economic development in the region foster market growth. China accounts for the largest consumer market for electronic adhesives due to its booming electronics industry. Additional factors pushing up the regional market growth include the use of electronic adhesives in electric vehicle components manufacturers such as printed circuit boards and lithium-ion batteries battery pack assemblies.
North America takes the second-leading position in the global electronic adhesive market. Factors such as the growing demand for electronic adhesives in the advanced electronics and telecommunication industries propel the growth of the market. The US is the leading market in the region, witnessing the increase in demand for consumer electronics such as smartphones and laptops. Significant exports in the US and Canada would act as a major tailwind behind the growth of the market.
The electronic adhesive market in the European region is also estimated to showcase significant growth over the forecast period. The growth of the regional market attributes to the extensive use of electronic adhesives in electronic applications such as wire coatings, fastening of transistors, and diodes, among others. Additionally, the increasing use of electronic adhesive glue in a wide range of automotive applications such as engine displays, power electronics modules, and sensors, is expected to boost the electronic adhesives market in Europe during the forecast period.
Electronic Adhesive Market – Competitive Analysis
Characterized by the presence of many major players, the global electronic adhesive market appears to be highly competitive. To gain a substantially larger share in the market, these well-established players incorporate strategies such as mergers acquisitions, collaborations, expansion, and technology launch. Managing the supply of cost-competitive raw materials remains a top priority for manufacturers. To cope-up with the pricing fluctuations, many firms seek new ways to mitigate risks associated with raw materials instability.
Players leading the global electronic adhesive market include Alent PLC (UK), 3M Company (US), BASF SE (Germany), Henkel AG Co. KGaA (Germany), H.B. Fuller Company (US), Indium Corporation (US), Mitsui Chemicals (Japan), LG Chemical Limited (South Korea), Hitachi Chemicals Company Limited (Japan), Kyocera Chemical Corporation (Japan), and The Dow Chemicals Company (US), among others.
Industry/ Innovation/ Related News:
November 06, 2019 ---- Bostik (the US), a leading global adhesive specialist, launched a new range of innovative adhesives - Born2Bond, specifically engineered for 'by-the-dot' bonding applications in industries, such as electronics, automotive, luxury packaging, medical devices, and MRO. Bostik develops specialty adhesives for construction, consumer, and industrial markets.
November 12, 2019 ---- Nordson EFD (the US), a leading global designer and manufacturer of precision dispensing systems, introduced its new pneumatic fluid dispenser – UltimusPlus. The new dispenser comes with time-saving features that strengthen production throughput while delivering highly precise, repeatable dispensing results in electronics, life sciences, consumer goods, and automotive applications.
Nordson EFD is the world's leading designer and manufacturer of precision dispensing systems that apply accurate, consistent amounts of the adhesives, sealants, lubricants and other assembly fluids used in virtually every manufacturing process. The dispenser features electronic pressure regulation that helps in vending low- to high-viscosity liquids, such as adhesives, solvents, hydrophobic coatings, primers, glues, and UV-cure adhesives.
November 04, 2019 ---- Henkel AG Co. (Germany), a chemical and consumer goods Company, announced starting construction of a production plant for advanced electronic materials in the IFEZ, Incheon, Korea. Henkel provides a broad portfolio of adhesive solutions for electronic circuits, mobile phones, LCD panel assembly, semiconductors, and a variety of high-tech electronic parts.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
+1 628 258 0071(US)
+44 2035 002 764(UK)