PUBLISHER: SkyQuest | PRODUCT CODE: 1373824
PUBLISHER: SkyQuest | PRODUCT CODE: 1373824
Global Electronic Adhesives Market size was valued at USD 7.7 billion in 2021 and is poised to grow from USD 8.29 billion in 2022 to USD 15.09 billion by 2030, growing at a CAGR of 7.7% during the forecast period (2023-2030).
The global electronic adhesives market has experienced substantial expansion in recent years, primarily due to the surging demand for electronic devices and technological advancements. This growth is primarily attributed to the increased consumption of electronic devices in various industries such as consumer electronics, automotive, aerospace, and healthcare. The widespread adoption of smartphones, tablets, wearable devices, and smart home appliances has created a significant upswing in the need for electronic adhesives. Furthermore, the development of smaller electronic components and the growing popularity of flexible and wearable electronics have further accelerated the market's progress. An important trend in the worldwide market is the transition towards eco-friendly and sustainable adhesive solutions. Given the escalating environmental regulations and heightened consumer consciousness, manufacturers are placing a strong emphasis on creating adhesives with lower levels of volatile organic compounds (VOCs) and reduced environmental impact. This shift has led to the adoption of water-based and solvent-free adhesives, which not only enhance safety and sustainability but also maintain performance standards.
Top-down and bottom-up approaches were used to estimate and validate the size of the global electronic adhesives market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
Global Electronic Adhesives Market is segmented by type, application, and region. Based on type, the market can be segmented into Electrically Conductive Adhesives, Thermally Conductive Adhesives, UV Curing Adhesives and Silicone Adhesives. Based on application, the market is segmented into Printed Circuit Boards, Semiconductor and IC Packaging, Display and Touch Panels, Potting and Encapsulation and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers:
Technological Advancements and Miniaturization
The ongoing progress in technology has led to the shrinking of electronic components and devices. This development underscores the importance of employing electronic adhesives that exhibit outstanding adhesive qualities, excellent thermal conductivity, and low viscosity. These attributes are essential for optimizing assembly procedures and upholding the dependability of small-scale electronic products. As technology continues its advancement, electronic adhesives become increasingly crucial in facilitating the growth and operation of compact electronic devices.
Restraints:
Limitations in High-Temperature Applications
It's crucial to take into account the constraints associated with electronic adhesives in high-temperature scenarios. Some adhesives have particular temperature limits beyond which they encounter difficulties. Elevated operational temperatures can result in problems such as deterioration, diminished adhesion strength, or disparities in thermal expansion. Consequently, the utilization of specific adhesives in situations involving high temperatures is restricted. To overcome this limitation in the market, manufacturers and researchers are continuously striving to create electronic adhesives capable of enduring higher temperatures, thus broadening their scope of applications.
Market Trends:
A notable development observed in the worldwide electronic adhesives market involves the increasing desire for miniaturization and cutting-edge packaging technologies within the electronics industry. As consumer electronics, automotive electronics, and various electronic devices progressively reduce in size, weight, and overall dimensions, the demand for effective and trustworthy bonding solutions has grown substantially. Electronic adhesives are essential in ensuring robust and enduring connections among diverse electronic components, guaranteeing their optimal performance and extended dependability.