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Electronics Adhesives Market to Rear Excessive Growth During 2024
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“An increasing number of players have been focusing on expansion activities in several Asian countries such as China, India, and South Korea,” a TMR analyst observes. “The growing demand for electronics adhesives, the availability of an established customer base and state-of-the-art manufacturing facilities, the increased production of consumer electronics, and the strong presence of local players present immense opportunities for companies in the electronics adhesives market.”
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Making the most of these opportunities are several players, the most prominent one being 3M Company in terms of revenue. Although the company has a predominant presence in North America, it has been investing heavily in Asia with the support of local vendors. The promotion of its brands and enhancement of its production capacity are the prime reasons behind 3M’s ongoing trend.
Overwhelming Demand for Consumer Electronics in China to Override Impact of Regulatory Restrictions
In keeping with this trend, TMR has observed that developing economies such as China and India are presently characterized by the rise of a new class of consumers. “The surging disposable income of this new class has resulted in the growing demand for automotive and consumer appliances. This, in turn, drives the global demand for electronics adhesives,” states the author of the study.
However, strict regulations against volatile organic compound (VOC) emissions from adhesive films are major concern in China. Despite being a leading producer of electronics adhesives, initiatives taken by the Chinese government to curb VOC emissions threaten to dampen the growth of the electronics adhesives in China. Be that as it may, TMR predicts that the massive production bases for and consumption of semiconductors, smartphones, and tablets is sure to override the negative impact of these regulatory restrictions in the coming years.
Another factor boosting the electronics adhesives market is a surge in R&D activities. “The dynamic nature of the industry and constant changes in consumer expectations have compelled players to step up efforts in the development of advanced electronics adhesives that are in line with what the consumers want in terms of features, technology, and performance,” the TMR analyst reveals.
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Revenue of Global Electronics Adhesives Market to Grow Twofold by 2020
The global electronics adhesives market volume is forecast to rise 1.8 times from 2013 to 2020, TMR finds, with an annual growth of over 8%. The worldwide demand for electronics adhesives is projected to surpass 1.9 mn tons by 2020. In terms of revenue, the global market is anticipated to witness a twofold growth during the forecast period, with the escalating shipment of tablets and smartphones playing a key role in the revenue generation.
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About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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