Electronics Adhesives Market to Receive Overwhelming Hike USD 4.9 Billion in Revenues by 2031
As per a study by FMI, the global electronics adhesives market is anticipated to exhibit a CAGR of 8.6% during the forecast period 2021-2031 in the comparison CAGR of 7.5% registered between 2016 and 2020. The market for electronic adhesives is expected to surpass a valuation of US$ 4.9 billion by the year 2031.
Polyurethane material accounts for nearly 50% of the global electronics adhesives market share. Driven by the characteristics such as a longer life cycle and thermal resistance, polyurethane is predicted to be the fastest-growing segment in terms of material, registering a CAGR of 8.5% over the course of the assessment period.
Leading market players are launching innovations in electronic adhesives to cater to industry-specific applications. For instance, DELO launched a new pressure-sensitive electronic adhesives to address the increasing demand for applications in smartphone speaker surfaces and display frames for low fill factor. The introduction of these innovative products is expected to drive the market growth.
Asia-pacific is leading the global electronics adhesives market. Expansion of automobile sector and consumer electronics sectors is expected to bolster scope for application in the region.
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“Key market players are increasing their investments in product development to cater to the rising demand for electronics adhesives due to on-going development of next-generation wireless 5G infrastructure network,” says the FMI analyst.
- China is dominating the electronics adhesives market with more than half of the total market share in Asia Pacific and is estimated to reach the valuation of US$ 854.3 million through 2021.
- India has emerged as one of the most lucrative markets. The country is anticipated to reach a valuation of around US$ 537.5 million by the end of the forecast period.
- In North America, the U.S. is expected to hold over 80% of the market share, owing to increasing investment in R&D for advanced technologies.
- Driven by the strong presence of automotive suppliers and manufacturers, Germany is projected to register growth at a CAGR of 7.2% through 2031.
- Due to the high demand for electronic circuits and devices, the automotive sector is dominating the segment with around 18.8% of the market share.
- Growth of the automobile sector is expected to fuel the demand for electronics adhesives.
- Rising need for anti-theft systems is creating growth opportunities for the market.
- Increasing demand for encapsulation processes in the telecommunication and mobile industry will bolster the market growth.
- Surging adoption of laptops, smartphones, and tablets is spurring the sales of electronics adhesives.
- High cost of installation is a factor hampering the demand for electronics adhesives.
- Volatility in the price of raw material is restraining the growth of the market.
- High cost of packaging and advanced machinery is posing a challenge for the market growth.
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Market players are focusing on regional expansion strategies and acquisition to strengthen the foothold. Besides this, some of the market players are focusing at strategic collaborations with regional distributors and end users to expand their customer base. For instance,
- Quad Industries and Henkel Adhesive Technologies collaborated to support prototyping solutions and technological value creation in February 2021.
- In 2021, ShengChyuarn announced that they have specialized in the distribution and production of high-quality organosilicon materials for the application of commercial industrial production.
Some of the leading companies operating in the electronics adhesives market are:
- Dymax Corporation
- DOW Chemical Company
- Henkel AG & Co. KGaA
- H.B. Fuller Company (Royal Adhesives & Sealants LLC)
- Evonik Industries AG
- Sika AG
- Bostik AG
- Shin Etsu Silicones
- Konishi Co, LTD.
- TERAOKA SEISAKUSHO CO., LTD.
- YAMATO Co.,Ltd
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More Insights on FMI’s Electronics Adhesives Market
The latest market study on global electronics adhesives market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
By Material Type
- Thermal Management
- Gap Fillers
- Thermal Conductivity Solutions
- Thermal Conductivity Insulators
- Gap Pads
- Conformal Coatings
- Surface Mounting
- Wire Tacking
- Mobiles and Telecommunication Devices
- Desktops and Networks
- Home Appliances
- Automotive Electronics
- Aerospace Electronics
- Analytical & Measurement Instruments
- Other Industrial
Get More Information@ https://www.futuremarketinsights.com/reports/electronics-adhesives-market