Global Electronic Adhesive Market - 2020-2027
Electronic adhesives are the central part of electronic components used in the manufacturing and assembly of electronics products. Due to development and innovation in electronic products, the market size increases continuously with the high penetration in the smartphone device market. In addition, to growth in technological innovations of thermal and conductive properties of electronic adhesives have successfully replaced traditionally used processes, i.e., soldering systems. Moreover, the electronics adhesive market includes many sectors like telecommunications, consumer, computer, defense, automotive sectors, others. These sectors mostly use the PCB as the basic building block for their products. Moreover, from the last 50 years, the number of electronic adhesives used in PCBs and other electronic components/devices was minimal. But nowadays, the electronics manufacturing industries are incomplete without electronic bonds.
The global electronic adhesives market is estimated to reach US$ XX billion by 2027 from the recorded market size of worth US$ XX billion in 2018, growing at a CAGR of XX% during the forecast period.
The high demand for electronics in automobile industries for safety features, comfort, stability, and high performance increases electronic adhesive demand. Owing to stringent regulatory norms about automobile safety, the manufacturers incorporate new features such as an anti-lock braking system (ABS). Adhesives made of special epoxy, silicone, polyurethane, polysulfide, and UV cured adhesives are widely used in automobile electronic components to withstand exposure to harsh environmental conditions. The increasing penetration of electronic adhesives in applications such as airbag assemblies, telematic seals and gaskets, bundling and battery cells, cockpit applications, and autonomous cruise control will lead to the expansion of the global electronic adhesives market in the forecast period. Moreover, the electronic adhesives market is mainly growing due to environmental issues, health, cost, and speed of manufacture and expanding adhesives in the industry. Furthermore, the companies focus on the innovation and advancement of bonds as the alternative to solder. Electronics adhesive innovation and development touches nearly every facet of our lives. It is used to drive hybrid and electric vehicles with advanced driver assistance systems in which smartphones are uses to manage our work. In addition, it also plays to see a new world through augmented reality headsets and enjoys on-screen entertainment while flying in airplanes and controls our living space through connected home devices.
However, there is still some way to go, as the adhesive will need to take over the solder's mechanical properties and be electrically and thermally conductive to a very high degree.
By type, the market is segmented into epoxy, acrylics, silicones, polyurethane, and others. The market is segmented into thermal conductive, electrically conductive, UV curing, and others by properties. The market is segmented into potting material, conformal coatings, strain relief, overmolding, and others by the application.
Electrically conductive electronic adhesives make the best substitute for conventional tin-lead solders because of properties like efficiency and cost-effectiveness. Electronic adhesives of this type are found in applications like construction, automotive, medical industries, others. Electrically conductive is the key factor that drives the global demand for electronic adhesives. In addition to the pat record, these adhesives accounted for 448.5 kilotons of the overall demand and are expected to have a constant rise in demand in the forecast period. This increase in the market is being expected due to advancements in technology and end-use applications. Most companies use nanomaterials to enable bonding, such as bendable and flexible electronic assemblies, due to which the soldering market has been decreased/disappeared. Nanomaterials are cheaper than other materials and offer extended life with high strength.
Moreover, the electronic adhesives in terms of thermally conductive are soft and flexible, making it the best option for power device heat sinking, especially in the automotive sector. Thermal conductive material like Lioelm FTS helps to maintain low elastic modulus. Its unique flexibility and soft properties can hold any rough surface and, therefore, develop a high-strength interface between the package and the heatsink. This unique polymer has excellent conductive fillers and allows to interface material for dissipating significant heat levels for the high demanding high-power electronics, which we will see in next-gen automobiles.
Asia-Pacific is dominating the electronic adhesive market, and it is expected to have a massive growth in the forecast period due to the rise of industrialization and urbanization. In this region, China is the largest consumer in the global electronic adhesive market, and the market will be boosted due to electronic industries. In addition, electronic adhesives are used in manufacturing components for EVs such as PCB, lithium-ion batteries, and battery pack assemblies, which are the significant component for this market's growth. For instance, it has been expected that the EV industry will have massive growth until 2030 due to environmental issues, cost of fuel, and other critical factors for developing this market. India and other Asian countries are additionally driving the market growth by rising demand for electronic adhesive goods in the region. However, India and China are anticipated to be the dominant consumers of electronic adhesives in production. Different companies focus on shifting their production units to Asia-Pacific due to cheap labor availability, increasing the number of electronic adhesives patents, drastically improving economic growth rate, and growing manufacturing industries. This factor is also creating tremendous growth opportunities and new application areas for electronic bonds in the region. Moreover, the availability of raw materials and technological expertise and increasing urbanization and, thus, connectivity are also boosting the regional demand for electronic adhesives. Quick adoption of advanced technologies in vehicle safety solutions and infotainment systems is fueling the demand for printed circuit boards in the region, and it is expected to drive the need for electronic adhesives in the forecast period.
The U.S is the leading country and holds substantial market shares by growing demand for electronic gadget consumers like laptops and smartphones, which will boost the electronic adhesive market in the forecast period for the North American region. Moreover, it is expected that the U.S and Canada will drive the market in the forecast period in this region. In addition, to the European region, it will likely showcase moderate growth during the forecast period due to electronic adhesives in electronic applications like wire coatings, fastening of transistors, diodes, and others. In addition, the increase in the use of electronic applications in a wide range like the automotive industry, such as engine status displays, power electronic modules, sensors, and vision systems, will boost the growth of the electronic adhesives market during the forecast period.
The dispersible polymer powders market is a moderated fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Henkel AG, 3M Company, Dow Chemicals, Sika, Huntsman, Ashland, Illinois Tool Works, DuPont Automotive, Royal Adhesive, Unisesl are the primary electronic adhesive player market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the decorative laminates market globally.
Henkel AG supplies the premier materials for the electronics assembly and semiconductor packaging industries. Their advanced formulations include various products that facilitate electrical bonds, which provide structural integrity, transfer heat for reliable performance, and critical protection. The company is creating products that improve today's electronic technologies and future advancement.
Moreover, the breadth, depth of the materials portfolio of application expertise and the unmatched scope of their global capabilities make them the world's top technology companies in electronics innovators. The company does not matter what the challenge is and helps customers find a reliable, cost-effective solution and support throughout the project's entire life cycle with a global sales and technical customer service team.
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