Europe Electronics Adhesives Market - Segmented by Resin Type, Application and Geography - Growth, Trends and Forecast (2018 - 2023)
The Europe electronics adhesives market is estimated to grow at a significant CAGR during the forecast period, 2018-2023. Germany is expected to hold the largest share of the market, owing to the growing automotive sector in the region. Surface mounting is expected to hold the largest share of the application segment.
Increasing Demand from Automotive Industries to Propel Market Growth
Electronics applications in automotive include airbags, anti-lock braking system, black box, adaptive cruise control, drive by wire, satellite radio, emission control, traction control, automatic parking, in-vehicle entertainment systems, night vision, heads-up display, back up collision sensors, navigational systems, tire pressure monitor, and climate control. High-end electronics are being used in automotive to provide the drivers and passengers with in-car navigation, entertainment, and information.
European automotive sector has been witnessing a significant growth over the years. As per the statistics released by European Automobile Manufacturers Association, automotive production in whole Europe grew by 2.5% in the year 2016 in comparison to 2015, reaching a total of 21,696,968 vehicles.
There are numerous applications served by adhesives and coupled with the surge in the automotive sector, they are expected to propel the growth of the market.
Surface Mounting is Expected to Hold Largest Market Share
Surface mounting, also known as chip bonding, is the major application of adhesives in the electronics industry. It includes placing surface-mount-devices on beads or dots of UV curing adhesives and curing the adhesive to firmly as well as securely hold the device at the requisite place during any further processing of the electronic equipment being manufactured. The types of adhesives used in this application are mostly one-component systems made from acrylics, epoxies, or urethane acrylates, and they can be either electrically or thermally conductive. Europe owes the growth of the segment to the stable growth in its electronics sector.
Germany to Dominate the Market
The growth of the country’s electronic adhesives is vastly attributed to the presence of one of the world’s largest automobile production sector in the country, which accounted for approximately 35% of the European Union’s automobile production in 2016. The growing consumer preference in the country for electronic vehicles to replace their older fossil fuel based vehicles is helping the automotive sectors in the country. Moreover, the country has been witnessing a significant growth in the electric vehicle sector, owing to the increasing environment-related concerns caused by traditional fuel vehicles. All these factors will ensure a robust growth in the electronics adhesives sector.
Major Players: Henkel, Sika AG, H.B. Fuller Company, and 3M, among others.
Reasons to Purchase this Report
To understand the impact of electric vehicles growth on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating application in the market
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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