The global electronics adhesives market is expected to grow at with a CAGR greater than 9% during the forecast period. One of the major factors driving the market is the growing technological advancements in electronics adhesive manufacturing. However, volatility in raw material prices is hindering the growth of the market studied.
- Growing adoption of electric vehicles is expected to provide a major growth opportunity for the market studied.
- Asia-Pacific accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
- Among the application areas, surface mounting is expected to dominate the market studied during the forecast period.
Key Market Trends
Surface Mounting Application to Dominate the Market
- Surface mounting, also known as chip bonding, is the major application of adhesives in the electronics industry.
- It includes placing surface-mount-devices on beads or dots of UV curing adhesives and curing the adhesive to firmly, securely hold the aforementioned device at the requisite place, during further processing of the electronic equipment being manufactured.
- The types of adhesives used in this application are mostly one-component systems, made from acrylics, epoxies, or urethane acrylates, and can be either electrically or thermally conductive.
- Owing to the growing adoption of surface mount technology across the world for printed circuit board manufacturing, surface mounting application is likely to dominate the electronics adhesives market during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-pacific accounts for the highest share of the global electronics adhesives market with the majority of the demand coming from China.
- China is emerging as one of the biggest markets, both in terms of consumption and production of the electronic adhesives and accounts for slightly more than half of the total market in Asia Pacific.
- Factors, like increasing urbanisation, growing connectivity, combined with the usage of advanced technology in the manufacturing of safety technologies and infotainment systems, is boosting the demand for printed circuit boards.
- Apart from China, other countries, such as South Korea, Japan, and Singapore are also expected to witness significant growth in demand for electronics adhesives during the forecast period.
- Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.
The global electronics adhesives market is moderately consolidated as the market of the market share is divided among a few players. Some of the key players in the market include Henkel AG & Co. KGaA, Dow, H.B. Fuller Company, 3M, and BASF SE, among others.
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