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Electronic Adhesives Market Set To See Strong Growth by 2024

Author : Rahul Varpe | Published Date : 2019-04-12 

Manufacturers are expected to invest in R&D activities to reduce the overall costs and improve the eminence of electronic adhesives market over the forecast period. In addition, the rise in demand for lighter and compact components from the electronics industry driving the product demand. However, high product costs as well as high installation cost for laminating & packaging machinery and product assembly may hamper the electronic adhesives market.

Based on product type, electronic adhesive market can be segmented as thermally conductive, electrically conductive, UV curing and others. The electrically conducted adhesives segment is anticipated to dominate the industry over the projected timeframe owing to its rise in preference over traditional tin-lead solders. Moreover, technological innovation in electronics devices has significantly rises the demand for advanced adhesive materials that are efficient of providing conductivity, compatibility and strength with electronic circuits. 

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Electrically conductive adhesives are playing a key role in meeting this demand that may boost the product demand. Rise in demand for electronic adhesives in microelectronic industry for packaging applications is also expected to boost the electronic adhesives market growth during the forecast period. UV curing segment is expected to show a significant growth rate over the projected timeframe owing to its usage in a wide range of applications for electronic assembly and circuit protection.
 
On application basis, surface mount devices were estimated to dominate the industry and is expected to grow with same pace favorable. The growth can be attributed to rise in demand for PCB-based electronics devices in various end use industries such as industrial, consumer durables, and automotive. Ability to protect circuit boards from abrasion and corrosion is expected to boost the conformal coatings segment in foreseeable timeframe. Encapsulation and potting should witness significant growth over the forecast period owing to their wide range of applications such as automotive power trains, fly-back transformers, and relays.

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Asia Pacific led by China, India, Japan and South Korea electronic adhesives market should witness significant growth. Growing electronic and manufacturing industry along with advancement in technology and growing levels of urbanization may promote the product regional growth. Apart from this initiative taken by government in this region for the enhancement of electronic industry should have positive influence on regional growth. Manufacturers are also shifting their manufacturing bases to Asian countries such as South Korea, India and Taiwan to reduce the cost of production by employing low-cost, but skilled labor from the region.

Europe driven by France, UK and Germany electronic adhesives market may witness high growth. Existence of major automotive companies along with strong economic conditions is expected to propel regional industry growth. Moreover, Latin America led by Brazil should witness significant growth rate over the projected timeframe owing to favorable government policies to expand electronics production in the region.

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Key Players of the industry include Henkel AG & Co. KGaA, Dow Chemical, HB Fuller, Kyocera Chemical Corp, 3M Company, Bondline Electronic Adhesives, Inc, Dymax Corporation Creative Materials Inc. Manufacturing companies are focusing on increasing the R&D for enhancing their product portfolio. The industry players are also engaged in merger and acquisitions with local & regional companies to open new market opportunities, and further boost electronic adhesives market demand.


 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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