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The global electronic adhesives market was valued at ~US$ 5.5 Bn in 2018 and is expected to grow with ~8% CAGR during the forecast period i.e., 2019 -2029, finds a recent study published by Future Market Insights (FMI). The electronic adhesives market study provides the fundamental insights and offers an in-depth market analysis for the historical as well as forecast period, attributing to the positive growth opportunities in the electronics industry.The FMI study finds that the electrical and electronics industry is experiencing notable changes due to continuous investments by manufacturers in research and development, which is boosting the demand as well as production of value-added products. This, in turn, is creating new sales opportunities for electronic adhesives from electrical and electronic industry.
Electronic adhesives are highly dependent on the availability of their raw materials such as petroleum-derived plastic resins, elastomers, synthetic rubber, and agents or additives used to improve certain characteristics of electronic adhesives. As uninterrupted supply of raw materials by market players has increased demand from end-user industries, it is likely to upsurge the demand for electronic adhesives in the coming year. Therefore, more players are entering the market of raw material development for electronic adhesives production, which leads to further opportunities for the electronic adhesives market.
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Growing Investments by Manufacturers in the Electronic Industry in East Asia
The East Asia region has greatly profited from the electronic industry by incorporating production networks, which result in enhancing the trade with countries of Asia Pacific such as China, finds FMI.
China plays a crucial role in the electronic adhesives market. China imports various electronic parts and devices from various Asia Pacific countries and exports them worldwide, which creates a positive impact on the electronic adhesives market. Moreover, Thailand is one of the largest electronic device assembly bases among Asian countries with over 2,300 companies powered by 400,000 labor force. It is a world leader in manufacturing hard drives, semiconductors, and integrated circuits. Thus, Asia Pacific represents noteworthy growth potential in the electronic adhesives market.
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Demand for Silicone and Conformal Coatings to Remain High
The global electronic adhesives market has been classified on the basis of material type, form, and application, along with regions.
Based on material, silicone is expected to remain most sought-after material over the upcoming years, and is anticipated to hold ~30% value share of the global electronic adhesives market. The demand for silicone is mainly being driven by its cost-effectiveness and high elasticity at low temperature.
In the global electronic adhesives market, conformal coatings and surface mountings are likely to hold significant value shares. Collectively, conformal coatings and surface mountings are expected to hold ~ 35% of the total revenue share. Increasing demand for mobile and other electronic devices will spur the demand for electronic adhesives due to wide consumption of protective coatings in these devices.
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Electronic Adhesives Market: Manufacturer Insights
According to the FMI analysis, the global electronic adhesives market is highly fragmented with the presence of global as well as domestic players in the electronic adhesives market. The electronic industry is highly competitive, as players can be found on each sub-sector. Thus, expanding base of electronic component suppliers in the region especially in East and South Asia will improve the overall region’s image as well as boost the electronic adhesives market in the near future.
Major players hold significant shares in the global electronic adhesives market. Key players operating in the electronic adhesives market are 3M Company, Henkel AG & Co. KGaA, Evonik Industries AG, Dymax Corporation, and H.B. Fuller Company, among others.
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