Electronics adhesives are advanced glue that is developed to fix electronic parts. These materials are based on polyurethane, acrylic, epoxy, and silicone. These adhesives form stable and secure connections with metals, plastics, glass, and other materials. Electronics adhesives provide excellent temperature resistance and highly durable bond to withstand even large impacts. They are easy to use and are highly reliable in terms of bond formation. Silicones, polyurethanes, epoxies, and acrylics are some of the material types used on electronic adhesives. Conformal coating, encapsulation, surface mounting, and wire tacking are some of the types of techniques that can be used to apply adhesive.
The global Electronics Adhesives Market is estimated to account for around US$ 17.7 Billion in terms of revenue in 2030 and is predicted to grow at a CAGR of 11.3 % during the forecast period (2022 to 2030).
Drivers
Expanding electrical and electronic industry due to the rising production of electronic goods around the globe and especially in the Asia Pacific region is primarily fueling the market growth of electronics adhesives. According to the People's Daily Online, China is the world’s largest producer, consumer, and exporter of consumer electronics. Statistics indicate that China produced 1.8 billion mobile phones, 300 million computers, and 200 million televisions in 2022. Therefore, the growing production of electronic goods is propelling the market growth of electronics adhesives.
Market Opportunities
The electronic adhesive market is projected to experience robust growth over the forecast timeframe which is anticipated to foster the market growth of electrical adhesives. According to Coherent Market Insights, the value of global image sensor shipments is expected to grow at a CAGR of around 16% during the forecast period. Moreover, the demand for flexible electronics devices has experienced steady growth in recent past years owing to growing applications across radio frequency identification, lighting, and sensors are further estimated to accelerate the market growth of electronic adhesive.
Market Restraints
Fluctuating price of feedstock used to produce adhesive films is expected to hinder the market growth of electronics adhesives. Adhesive films are majorly used in electronics adhesives which are produced from plastics, textiles, polymers, and paper and their price are comparatively due to the instability of feedstock hampering the market growth. Moreover, the infrastructure required to manufacture electronics adhesives is high, which is also anticipated to hinder market growth.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/electronics-adhesives-market-3469
Key Takeaways
On the basis of product type, electrically conductive dominated the global electronics adhesives market in 2022 with 37% of the market share in terms of revenue, followed by ultraviolet curing and thermally conductive, respectively
Market Trends
Increasing focus of manufacturers to produce electrical adhesives especially for the automotive industry is anticipated to accelerate the market growth over the forecast period. For instance, in November 2022 H.B. Fuller announced that it has opened its new “Automotive Competency Center” in Mannheim, Germany. The Automotive Competency Center expands H.B. Fuller’s capability to develop and manufacture hot melt, water-based, solvent-based, and reactive and film adhesive technologies for various automotive trim, structural, lighting, electronics, and electric vehicle and battery applications.
The growing investment by a major manufacturer to develop more advanced electrical adhesives is anticipated to foster market growth over the forecast period. For instance, in July 2022, Henkel announced to invest US$ 45 million in its Salisbury facility in Rowan County. The German chemical and consumer goods company will install updated equipment, which will include a new production line for UV acrylic adhesives used in tapes and labels within the packaging and other industries. The 825 Cedar Springs Road facility produces adhesive products that are suitable for various industries such as packaging, electronics, and consumer goods.
Competitive Section
Key players active in the global electronic adhesives market are Henkel AG & Co. KGaA, H.B. Fuller Company, 3M Company, Evonik Industries AG, Dymax Corporation, and Dow Corning
Few Recent Developments
H.B. Fuller
- In November 2022, H.B. Fuller announced that it has opened its new “Automotive Competency Center” in Mannheim, Germany. The Automotive Competency Center expands H.B. Fuller’s capability to develop and manufacture hot melt, water-based, solvent-based, and reactive and film adhesive technologies for various automotive trim, structural, lighting, electronics, and electric vehicle and battery applications.
