Electronics Adhesives Market: Increasing Usage of Automated Appliances to Boost Demand By 2024

The global electronics adhesives market is fragmented with a large number of domestic and international players. The market is extremely competitive and thus, vendors are investing extensively in research and development to ensure a greater share in the market. Moreover, players are also striving to achieve expansion of their product portfolio and this is further intensifying the competition in the global electronics adhesives market. Some of the companies operating in the market are 3M, H.B. Fuller, Dow Corning, Henkel, Dymax, Evonik Industries, Hitachi Chemical, Royal Adhesives & Sealants, KYOCERA Chemical, and Indium.

Leading players in the market are offering customized solutions as per customer demand, which enables these players to gain a strong foothold in the market, states a new report by Transparency Market Research (TMR). It is expected that backward integration will emerge as a new trend so as to maintain quality and easy supply of raw materials.

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According to the report published by TMR, the global opportunity in electronics adhesives market will reach US$6.4 bn by 2020, exhibiting a 12.1% CAGR from 2015 to 2020. It is expected that the demand for electronics adhesives will reach over 1.9 mn tons by 2020. By material type, the acrylic segment is expected to lead and expand at a 20% CAGR from 2015 to 2020. On the basis of product type, the electrically conductive adhesives segment is expected to lead. This segment is expected to expand at a 14% CAGR from 2015 to 2020 and account for about 40% of the market by 2020.

Asia Pacific to Become Lucrative Market due to Presence of Many Manufacturing Facilities

By geography, the Asia Pacific electronics adhesives market is expected to witness the fastest growth, exhibiting a 10% CAGR during the forecast period, on account of the growing focus by manufacturers to expand their markets in Asian countries. The market in Asia Pacific is expected to expand at a healthy pace on account of the growing production of consumer electronics in countries such as South Korea, India, Japan, and China. “Moreover, the region has a strong presence of many local players and is home to many manufacturing units,” states a TMR analyst. Asia Pacific also has an established customer base, boosting the market further.

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Escalating Sales of Smartphones to Drive Market

A surge in the usage of electronic components is one of the prime reasons behind the flourishing electronics adhesives industry. Electronic component find applications in consumer electronics, automotives, imaging devices, medical devices, and aircraft, and this is driving the demand for electronics adhesives. The trend of miniaturization and growing use of connected devices has also benefitted the industry. Some of the other factors boosting the market include growth in disposable income, extensive use of automated appliances, and changing lifestyle. The escalating sales of smartphones and tablets are expected to play a key role in the growth of the market.

Government Regulations to Curb VOC Emissions to Pose a Challenge

On the downside, the market is expected to be restrained by strict government regulations which are regarding VOC emissions. In addition to this, the volatility of feedstock prices may also hamper the growth of the market, says TMR. However, an increase in R&D activities is expected owing to the dynamic nature of the industry and changes in customer demand, thus ensuring that the market is not stagnant, but moving towards growth. Players are thus attempting to step up their game and develop adhesives that are in line with consumers’ demand in terms of performance, technology, and features.

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This release was published on openPR.