Electronic
Adhesives Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
The global
Electronic Adhesives Market size is expected to value at USD 7.80 billion by
2022, due to their enhanced conductive and thermal properties, and growing
preference over soldering systems. Growing importance of electronic compact
devices like compact discs (CD), USB drives, and communication drives are
expected to fuel market demand for electronic adhesives over the forecast
period. Globally, the electronic adhesives industry is predicted to grow at
higher CAGR in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market.
Miniaturization
of electronics components is one of the key contributing factor for industry
growth in the last few years. Latest trend associated with replacement of
existing printed circuits boards (PCBs) with multi-chip modules is anticipated
to drive market growth as well. Printed circuits boards (PCBs) are laminated
plastic boards, which are manufactured with the use of adhesives that helps in
bonding conformal coatings with surface-mount components, wire tacking, and
encapsulating components.
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In addition,
recent advancements in the semiconductor technologies, which are used in
industrial and consumer applications, is expected to stimulate market growth
due to wider product application scope. Some of common applications of the
electronic adhesives that is used in solid-state devices include information
processing device such as lighting & displays and smart cards based on LEDs
and OLEDs.
However,
higher installation costs associated with laminating & packaging machinery
and product assembly are some of key challenges for industry growth to a
certain extent. Yet, substantial investment by industry participants for
research & development activities are expected to offer lucrative growth
opportunities for industry players over the next seven years. Introduction of
micro-electronic systems like chemical detectors, explosive detection sensors,
flexible sensors, and imaging devices that are capable if identifying security
threats project a positive market expansion in the upcoming years.
Electronics
adhesives are categorized based on products type such as electrical conductive
adhesives, thermal conductive adhesives and UV curing adhesives. Electrical
conductive adhesives offers cost effectiveness and better efficiency in
comparison with traditional tin-lead solders. Thermal conductive adhesives
commonly contains silicone, epoxy or acrylics chemicals.
The electronic
adhesives market is broadly categorized into three major segments based on the
application type such as surface mount devices, potting & encapsulation,
and conformal coatings. The surface mount devices is considered as one of the
fastest growing segment in the electronic adhesives industry with substantial
revenue generation in the last few years.
Growing
popularity of electronic adhesives in the surface mount devices segment is
attributed to the rise in electronic manufacturing sector in Asia Pacific and
European region. The conformal coatings segment has also witnessed substantial
growth owing to the growing requirement for protective circuit boards to
provide resistance to corrosion and abrasion. In addition, potting
&encapsulation segment is gaining traction in electronic adhesives market
owing to the rising adoption for applications involving relays, automotive
power trains, and fly-back transformers
The electronic
adhesives industry is divided by region as North America, Europe, Asia-Pacific,
Latin America and Africa. North America has shown major growth in recent years
owing to the rise in the implementation of latest technologies in electronic
manufacturing sector, increase in the number of research & development
activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific
region is predicted to hold major market share in the electronic adhesives
market with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with robust growth of
electronic sector, large-scale production of surface mount devices and
conformal coatings, favorable government policies & initiatives, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key
players in the electronic adhesives industry are Henkel AG & Co., B Fuller
Co., Kyocera Chemical Co., The 3M Company, Mitsui Chemicals LG Chemical Ltd.,
Indium Co., Dow Chemicals Co., and Hitachi Chemicals Ltd.
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