Global electronic adhesives market size is expected to grow at a CAGR between 12.0% and 12.5% over the forecast period from 2017 to 2023. With thermal properties and enhance conductive properties, electronic adhesives make a good substitute for soldering systems. These specialty adhesives find substantial applications in electronic circuit manufacturing and assembling.
Figure 1: Global Electronic Adhesives Market by Value 2015 - 2023
The global electronic adhesives market was sized over USD 3.30 billion in 2015. The global electronic adhesives market is projected to reach USD 7.90 billion by 2023, growing at a CAGR between 12.0% and 12.5% over the forecast period from 2017-2023. The global electronic adhesive market is largely driven by increasing demand for compact electronic and communication devices, increase in usage of imaging censors in consumer electronics and rapid growth in application industries in emerging markets coupled with steady growth in matured markets. However, volatility in raw material prices, high cost of installation for laminating and packaging the machinery are some of the restraining factors that are likely to affect the growth of the electronic adhesive market in the world. However, an increase in R&D activities regarding microelectronic devices as well as extensive use of automated appliances and changing lifestyles are likely to bring more opportunities to electronic adhesives market over the forecast period. Moreover, stringent government regulations regarding VOC emissions are expected to remain as the prime challenge to global electronic adhesives market.
The global electronic adhesives market is segmented on the basis of materials, product types, applications and region. The materials include polyurethanes, silicone's, epoxies, acrylics and others, while the product types include thermally conductive adhesives, electrically conductive adhesives, ultraviolet curing and others. The application areas of electronic adhesives covered in the report include surface mounting, encapsulation, conformal coating and others. Among the applications of electronic adhesives surface mounting dominated the global market over the period of 2014 – 2016, while encapsulation is expected to grow at the highest rate over the forecast period.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.
Figure 2: Global Electronic Adhesives Market by Region 2015-2023
Asia-Pacific is accounted for the maximum market share and is likely to continue its dominance over the forecast period from 2017-2023. Asia Pacific was the largest regional consumer owing to large scale manufacturing of surface mounting and conformal coating. Moreover, Asia Pacific is likely to continue this trend due to growing electronics sector, availability of cheap labor prices and low manufacturing costs in emerging economies such as India, China, Taiwan and South Korea. China is the largest market for electronic adhesives in the Asia Pacific region due to increasing expansion, advanced technology and rising level of urbanization. However, Europe was accounted for the second largest market region followed by Asia Pacific and North America markets are anticipated to witness stable market owing to declining downstream demand. Furthermore, Latin America markets are likely to grow substantially due to favorable government policies to increase production in countries such as Brazil and Mexico over the forecast period.
The companies covered in the report include 3M Company, H.B. Fuller Company, Henkel AG & Co. KGaA, Evonik Industries AG, Dymax Corporation, Dow Corning, Alent PLC, Indium Corporation, LG Chemical Limited and Mitsui Chemicals, Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas and focus areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of Electronic Adhesives.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the electronic adhesives that will impact the demand during the forecast period The IGR-Growth Matrix analysis provided in this report highlights key investing markets in the world. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors to understand present and future trends in this market and formulate their strategies accordingly.
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