A recent report published by
Infinium Global Research on the electronic adhesives market provides in-depth
analysis of segments and sub-segments in the global as well as regional
electronic adhesives market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional electronic
adhesives market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
electronic adhesives market. According to the report, the global electronic
adhesives market is projected to grow at a CAGR of about 7% over the forecast
period of 2022-2028.
Market
Insight
The value of the market in 2022
was over more than USD 4 billion and expected to reach over USD 6 billion in
2028 and is expected to be growing with a CAGR of 7% during the forecast
period. Electronic adhesives play an important role in fabricating electronic
goods, preferably used in the production and assembly of a range of electronics
products. Electronic adhesives are widely used to manufacture high-performance
electronic devices that are used in network solutions. Moreover, the favorable
thermal and conductive properties of electronic adhesives have replaced the
traditional soldering systems. There are three major types of electronic
adhesives electrically conductive, thermally conductive, and UV curing. These
adhesives are extensively adopted for applications such as surface-mount
devices (SMDs), conformal coatings, potting and encapsulation, and others.
COVID-19 was an incomparable
global public health emergency that has affected almost every industry and is
projected to impact this various industry growth during the forecast period.
During the Covid-19, pandemic people were compelled to stay in their homes. The
governments of many countries in the world turned their focus to healthcare
from other industries. This significantly disrupted their supply chain
operations and manufacturing as lockdowns were imposed by the respective
governments. Manufacturing facilities were all shut down due to the pandemic in
almost every country across the globe. Logistical restrictions, manpower
shortage, material unavailability, and other restrictions had reduced the
growth of the industry. The pandemic has affected the normal production of
companies. The COVID-19 pandemic has created instability in the electronic
adhesives market across the globe.
The global electronic adhesives
market is majorly driven by changing lifestyles, increasing the adoption of
compact electronic and communication devices, and an increase in the usage of
imaging sensors in consumer electronics. Moreover, rapid growth in application
industries in emerging countries such as South Korea, China, and India coupled
with steady growth in matured markets propel the demand for electronic
adhesives. Improving economic conditions and growing disposable income of
consumers in developing economies are driving the growth of end-use industries,
which further boosts the electronic adhesives market. However, volatility in raw
material prices and the high cost of installation are some of the restraining
factors that are likely to affect the growth of the electronic adhesives market.
Furthermore, a rising focus on R&D activities regarding microelectronic
devices, as well as extensive use of automated appliances, will offer more
opportunities to the electronic adhesives market over the forecast period.
The report provides a regional
outlook covering geographies such as North America, Europe, Asia-Pacific, and
the Rest of the World. Asia-Pacific is expected to dominate the electronic
adhesives market during the forecast years. China is emerging as one of the
biggest markets, both in terms of consumption and production of electronic
adhesives, and accounts for slightly more than half of the total market in the
Asia Pacific. Factors, like increasing urbanization, and growing connectivity,
combined with the usage of advanced technology in the manufacturing of safety
technologies and infotainment systems, are boosting the demand for printed
circuit boards. The Indian electronics adhesives market is expected to reach USD 400
billion by 2025. Additionally, India is expected to become the fifth-largest
consumer electronics and appliances industry in the world by 2025.
Additionally, in India, technology transitions, such as the rollout of 4G/LTE
networks and IoT (Internet of Things), are driving the adoption of electronic
products. The Indian government initiative "Make in India" has been
attracting foreign direct investments to the electronics sector, this, in turn,
has led to a boost in the electronics manufacturing services industry in the
country. The Atmanirbhar initiative also emphasizes making India a global
consumer electronics manufacturing hub. For instance, in February 2021, Amazon
India announced to commence electronic device manufacturing in India, which is
likely to boost the electronic adhesives demand in the country
Segment
Covered
The report on global electronic
adhesives market covers segments such as product type, resin type, application,
and end-user. On the basis of product type, the sub-markets include
electrically conductive adhesives, thermally conductive adhesives, and others.
On the basis of resin type, the sub-markets include epoxy, silicone, acrylic, PU,
and others. On the basis of application, the sub-markets include surface
mounting, potting & encapsulation, and others. On the basis of end-user,
the sub-markets include computers & servers, communications, consumer
electronics, industrial, medical, automotive, and commercial aviation, defense,
other transportation.
Companies
Profiled:
The report provides profiles of
the companies in the market such as BASF SE, The Dow Chemicals Company, Henkel
Ag & Co. KGaA, Alent Plc, KYOCERA Chemical Corporation, Hitachi Chemical
Co., H.B. Fuller, Panacol-Elosol GmbH, Meridian Adhesives Group, Dymax
Corporation, and 3M Company.
Report
Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment 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 DRO
analysis of electronic adhesives market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.