The global Electronic Adhesives Market size is expected to value at USD 7.80 billion by 2022, due to their enhanced conductive and thermal properties, and growing preference over soldering systems. Growing importance of electronic compact devices like compact discs (CD), USB drives, and communication drives are expected to fuel market demand for electronic adhesives over the forecast period. Globally, the electronic adhesives industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Miniaturization of electronics components is one of the key contributing factor for industry growth in the last few years. Latest trend associated with replacement of existing printed circuits boards (PCBs) with multi-chip modules is anticipated to drive market growth as well. Printed circuits boards (PCBs) are laminated plastic boards, which are manufactured with the use of adhesives that helps in bonding conformal coatings with surface-mount components, wire tacking, and encapsulating components.
In addition, recent advancements in the semiconductor technologies, which are used in industrial and consumer applications, is expected to stimulate market growth due to wider product application scope. Some of common applications of the electronic adhesives that is used in solid-state devices include information processing device such as lighting & displays and smart cards based on LEDs and OLEDs.
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However, higher installation costs associated with laminating & packaging machinery and product assembly are some of key challenges for industry growth to a certain extent. Yet, substantial investment by industry participants for research & development activities are expected to offer lucrative growth opportunities for industry players over the next seven years. Introduction of micro-electronic systems like chemical detectors, explosive detection sensors, flexible sensors, and imaging devices that are capable if identifying security threats project a positive market expansion in the upcoming years.
Electronics adhesives are categorized based on products type such as electrical conductive adhesives, thermal conductive adhesives and UV curing adhesives. Electrical conductive adhesives offers cost effectiveness and better efficiency in comparison with traditional tin-lead solders. Thermal conductive adhesives commonly contains silicone, epoxy or acrylics chemicals.
The electronic adhesives market is broadly categorized into three major segments based on the application type such as surface mount devices, potting & encapsulation, and conformal coatings. The surface mount devices is considered as one of the fastest growing segment in the electronic adhesives industry with substantial revenue generation in the last few years.
Growing popularity of electronic adhesives in the surface mount devices segment is attributed to the rise in electronic manufacturing sector in Asia Pacific and European region. The conformal coatings segment has also witnessed substantial growth owing to the growing requirement for protective circuit boards to provide resistance to corrosion and abrasion. In addition, potting &encapsulation segment is gaining traction in electronic adhesives market owing to the rising adoption for applications involving relays, automotive power trains, and fly-back transformers
The electronic adhesives industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in electronic manufacturing sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the electronic adhesives market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with robust growth of electronic sector, large-scale production of surface mount devices and conformal coatings, favorable government policies & initiatives, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the electronic adhesives industry are Henkel AG & Co., B Fuller Co., Kyocera Chemical Co., The 3M Company, Mitsui Chemicals LG Chemical Ltd., Indium Co., Dow Chemicals Co., and Hitachi Chemicals Ltd.
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Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• Thermal conductive
• Electrically conductive
• UV curing
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• Surface mount devices
• Potting & encapsulation
• Conformal coatings
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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