Global Electronic Adhesives Market may witness significant gains over forecast timeframe. These adhesives play a vital role in production and manufacturing of electronic products as well as assembly of electronic circuits. They are widely used in electronic industry for encapsulating components, wire tracking, and binding the surface-mount components.Strong application outlook in electronic industry along with superior properties such as capability to protect the electronic & circuit assembly components against electronic interference, vibration, or shock and moisture will stimulate electronic adhesives market size. Global demand for electronic components was valued at over USD 5.13 billion in 2015 and may surpass USD 5.94 billion by 2020, registering over 3.3% growth.
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Increased product usage in automotive industry owing to their wide range of application in engine status displays, collision avoidance systems, anti-theft systems, power electronic modules and LED packaging will trigger electronic adhesive market growth.
Trend of miniaturization in electronic devices play a vital role in growth of the overall market. Manufacturers are focusing towards production of reliable and compact electronic devices, along with lowering material and production cost. Use of adhesives enables manufactures to produce lower weight, thinner, faster, smaller, more powerful, energy efficient consumer and industrial electronic systems.
Manufacturers are expected to invest in R&D activities to reduce the overall costs and improve the eminence of electronic adhesives over the forecast period. In addition, the rise in demand for lighter and compact components from the electronics industry driving the product demand. However, high product costs as well as high installation cost for laminating & packaging machinery and product assembly may hamper the electronic adhesives market.
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Asia Pacific led by China, India, Japan and South Korea electronic adhesives market should witness significant growth. Growing electronic and manufacturing industry along with advancement in technology and growing levels of urbanization may promote the product regional growth. Apart from this initiative taken by government in this region for the enhancement of electronic industry should have positive influence on regional growth. Manufacturers are also shifting their manufacturing bases to Asian countries such as South Korea, India and Taiwan to reduce the cost of production by employing low-cost, but skilled labor from the region.
North America led by U.S. electronic adhesives market may witness significant growth. Rise in demand for printed circuit board will significantly increase the demand for electronic adhesives in the region. Growing penetration and demand of electric vehicles may stimulate regional growth.
Europe driven by France, UK and Germany electronic adhesives market may witness high growth. Existence of major automotive companies along with strong economic conditions is expected to propel regional industry growth. Moreover, Latin America led by Brazil should witness significant growth rate over the projected timeframe owing to favorable government policies to expand electronics production in the region.
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On application basis, surface mount devices were estimated to dominate the industry and is expected to grow with same pace favorable. The growth can be attributed to rise in demand for PCB-based electronics devices in various end use industries such as industrial, consumer durables, and automotive. Ability to protect circuit boards from abrasion and corrosion is expected to boost the conformal coatings segment in foreseeable timeframe. Encapsulation and potting should witness significant growth over the forecast period owing to their wide range of applications such as automotive power trains, fly-back transformers, and relays.
Key Players of the industry include Henkel AG & Co. KGaA, Dow Chemical, HB Fuller, Kyocera Chemical Corp, 3M Company, Bondline Electronic Adhesives, Inc, Dymax Corporation Creative Materials Inc. Manufacturing companies are focusing on increasing the R&D for enhancing their product portfolio. The industry players are also engaged in merger and acquisitions with local & regional companies to open new market opportunities, and further boost electronic adhesives market demand.
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