The global electronic adhesive market is expected
to reach USD 7.80 billion by 2022, according to a new report by Grand View
Research, Inc. Electronic adhesives have enhanced intrinsic conductive and
thermal properties which enable them to substitute soldering systems.
Increasing significance of compact devices including flash drives, CDs, and
communication drives is expected to drive demand over the forecast period.
Shift in trend toward
miniaturization of electronic components has created need for these adhesives.
Replacement of PCBs with multi-chip modules has also prompted product demand.
PCBs are laminated plastic boards that utilized these adhesives in
surface-mount components, bonding conformal coatings, wire tacking and
encapsulating components. High installation costs for laminating & packaging
machinery and product assembly are expected to remain key challenges for
industry participants.
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Electrically conductive
adhesive emerged as the largest product segment and accounted for over 40% of
total market volume in 2014. The segment is expected to gain share over next
seven years on account of high demand across key end-use industries including
automotive, building & construction and medical. UV curing adhesive market
is expected to witness significant gains over the forecast period on account of
their increasing penetration across medical industry.
Further key findings from the report suggest:
- Global electronic adhesive market demand was 1,103.3 kilo tons in 2014 and is expected to grow at a CAGR of 10.6% from 2015 to 2022.
- Surface-mount devices were the leading application segment and accounted for over 40% of the total market volume in 2014. The segment is also expected to witness most significant growth in its market size owing to significant development in chip-bonding and replacement of conventional PCBs with these components in key applications such as mother boards, processors, and flash drives.
- Asia Pacific was the largest regional market and accounted for over 50% of global demand in 2014. Large scale conformal coatings and surface mount devices manufacturing may be attributed to market size. This trend is expected to continue over the next seven years on account of rapid expansion of electronics industry in China, India, Taiwan and South Korea.
- China and India emerged as major markets both in terms of production and consumption. Favorable government initiatives such as “Make in India” have created significant avenues for future investments in terms of FDI for enhancing production capabilities within the region.
- Major companies with global electronic adhesives market share include Henkel AG & Co, Dow Chemicals and Hitachi Chemicals, HB Fuller, Kyocera Chemical Corp, 3M Company, Mitsui Chemicals LG Chemical Limited, and Indium Corporation.
Grand View Research has segmented the electronic adhesives
market on the basis of product, application and region:
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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