Wilmington, Delaware, United States, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The electronic adhesives industry was worth US$ 5.3 billion in 2022. By 2031, the market is estimated to reach US$ 5.6 billion. The market is expected to rise at a CAGR of 6.7% during the forecast period. The development of smart manufacturing and Industry 4.0 concepts has resulted in an increase in demand for adhesives that support efficient and automated assembly processes.
NASA (National Aeronautics and Space Administration) states that the most essential and widely used applications are bonding substrates (typically alumina ceramics) with electrically insulating adhesive and with electrically conductive adhesive for connecting semiconductor dies, chips, capacitors, and conductor pads.
Smart textiles, wearable technology, and devices connected to the Internet of Things (IoT) might drive the market. In addition to bonding components, these adhesives are electrically conductive, thereby enabling electronic circuits to be created on unconventional substrates. The future could bring improved adhesives, with better thermal conductivity, more durability, and a higher resistance to harsh environments.
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Sensors and other smart technologies will likely become more integrated into different products, requiring adhesives that allow communication and connection between different parts. Electronic systems that are intelligent and interconnected may benefit from smart adhesives.
Key Findings of the Market Report
- The medical and healthcare industries are gaining traction with microelectronics.
- The medical electronic industry plays a significant role in supporting life, patient monitoring, pacemakers, hearing aids, and other medical devices.
- Technology advancements and smart manufacturing will drive electronic adhesive demand in the future.
- The increased use of advanced packaging technologies is likely to increase the demand in the market.
- Increasing consumer demand for wearables is expected to boost the market.
Global Electronic Adhesives Market: Growth Drivers
- With the wide range of consumer electronics available today, including smartphones, smartwatches, tablets, and other electronic devices, electronic adhesives are becoming more in demand. Stabilizing and connecting electronic components are made possible by these adhesives.
- With the miniaturization of electronic devices, high-performance adhesives are becoming increasingly important for packaging and bonding miniaturized components. For these compact devices to be reliable and durable, electronic adhesives are essential. Researchers and developers are working on making electronic adhesives more reliable, cost-effective, and perform better.
- As technology advances, safety systems, and connectivity become more sophisticated, and the automotive industry incorporates more electronic components. Several electronic systems in vehicles are made with electronic adhesives, which contributes to the growth of the market.
- High-performance electronic components are often assembled and packaged with specialized electronic adhesives as new technologies are developed and adopted, such as 5G, the Internet of Things (IoT), and artificial intelligence.
- Electronic adhesives can be manufactured using 3D printing processes. Particularly in complex electronic assemblies, this could facilitate more precise and customized adhesive applications. To achieve environmental sustainability, eco-friendly electronic adhesives are becoming increasingly popular due to their low volatile organic compounds (VOCs). Developing and promoting eco-friendly adhesives will be a priority for manufacturers.
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Global Electronic Adhesives Market: Regional Landscape
- A significant demand for electronic adhesives is currently being experienced in the Asia Pacific region. As advanced electronic devices become more prevalent in the region, the demand for electronic adhesives also rises. China is a major manufacturer and consumer of electronic products. China and India are home to key players in the market, which is contributing to the market's growth.
- A fast-growing economy and an increasing population will likely increase demand for electronic adhesives. A shift in the production of electronic chemicals and materials has been observed in recent years, with China and India displaying a particularly strong demand for electronic adhesives.
- This shift is influenced by several factors, including cost advantages, skilled labor availability, and policies that encourage people to move around. Due to the growth of the electronics manufacturing industry in these countries, the demand for electronic adhesives has increased.
Global Electronic Adhesives Market: Key Players
Various end-use industries benefit from the expansion of major brands of electronic adhesives. As part of their strategy to increase their share of the electronic adhesives market, they also pursue new adhesive technologies through research and development.
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- 3M
- Dow
- Evonik Industries AG
- Dymax Corporation
- Bostik SA (Arkema)
- Sika AG
Key Developments
- In May 2023, Arkema acquired Polytec PT to strengthen Bostik's battery and electronics product portfolio. In addition to acquiring this bolt-on business, the Group has built its position as a full-service provider to its customers in the electronics and batteries sectors.
- In September 2023, Panacol introduced a range of multifunctional adhesives for flexible photovoltaics and electronics applications. With these adhesives, OPV materials will be more resistant to environmental stresses, will be more compatible with PV materials, and will adhere well to substrates.
Global Electronic Adhesives Market: Segmentation
By Product
- Electrically Conductive
- Thermally Conductive
- UV Curing
- Others (including Cyanoacrylate and Polyamide)
By Resin
- Silicone
- Polyurethane
- Epoxy
- Acrylic
- Others (including Polyester and Polyol)
By Application
- Conformal Coatings
- Encapsulation
- Surface Mounting
- Wire Tacking
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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