PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1351109
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1351109
According to Stratistics MRC, the Global Electrically Conductive Adhesive Market is accounted for $3.1 billion in 2023 and is expected to reach $6.2 billion by 2030 growing at a CAGR of 10.5% during the forecast period. An adhesive that is electrically conductive is typically employed in electronics applications where electric components need to be retained in place while electrical current can flow between them. Depending on the distance between the components, electrically conductive adhesive may or may not be used. The majority of common adhesives, including cyanoacrylates, acrylic-based adhesives, epoxies, and anaerobic adhesives, act as electrical insulators. Typically, two-phase composites for conductive adhesives consist of an adhesive base matrix and a conductive metal filler. Electronic and electrical components are connected using electrically conductive adhesives. These adhesives are employed in circuit assembly procedures and applications where heat curing and hot soldering can change.
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A low-resistivity metal, such as copper, gold, nickel, aluminum, graphite, or silver, is used to make the conductive parts of an electrically conductive adhesive. The electrically conductive substance is known as an electrically conductive adhesive (ECA), and it is created by combining these fillers with a resin base. They are thus perfect for applications involving power electronics.
The use of electrically conductive adhesives is heavily controlled by the governments of many nations, which serves as a major market restraint. However, the disposal of electrical and electronic waste results in pollution hazards and environmental issues, which are the main obstacles to the market's growth pace. For instance, the ISO 16525 standard mandates the testing of electrically conductive adhesives used in surface assembly, wiring, and die-attach. Because of strict international trade laws, government interference is a growth inhibitor for the electrically conductive adhesive company.
The market for electrically conductive adhesives is anticipated to rise more quickly due to the growing trend of miniaturization in electronic gadgets. To reduce the cost of raw materials and manufacturing, manufacturers are concentrating on making dependable and compact electronic equipment. Electrically conductive adhesives enable manufacturers to create consumer and industrial electronic systems that are quicker, smaller, lighter, thinner, more powerful, and more energy-efficient.
Environmental and governmental concerns are prompted by the potential existence of hazardous substances or compounds in some electrically conductive adhesives. However, manufacturers may face difficulties in complying with environmental laws and the requirement to meet safety standards, which may restrict the usage of specific adhesive compositions.
The COVID-19 epidemic has forced vehicle manufacturers, who were anticipated to be the main consumers of electrically conductive adhesives, to shut down their production facilities. Global demand has been hampered by it. The COVID-19 epidemic had a significant impact on the supply chains for electrical products, which resulted in significant changes in the market's demand graph for electrically conductive adhesive. The considerable impact that COVID-19 has had on the electronic industry is anticipated to reduce demand for electrically conductive adhesives globally.
Epoxy segment commanded the largest share throughout the projection period. Epoxy-based electrically conductive adhesives are frequently utilized in a wide range of applications, including mounting LEDs, coating and bonding RFID chips, and mounting touch screens. Additionally, epoxy has a longer shelf life than other varieties, can be stored at ambient temperature, and requires significantly lower cure temperatures, all of which are expanding its use.
Isotropic Conductive Adhesives segment is estimated to witness lucrative growth over the extrapolated period. One of the most popular forms of conductive adhesives for use on a range of substrates is isotropic conductive epoxy adhesives (ICAs). Furthermore, both single-component and two-component formulations are available, and they can be cured at room temperature or at high temperatures.
Over the dominance period, Asia-Pacific is anticipated to hold the largest share. The market for electrically conductive adhesives has been expanding as a result of strong demand from nations like China, India, and Japan. Moreover, Asia-Pacific is home to the majority of electrically conductive adhesive manufacturers. Henkel AG & Co. KGaA, 3M, Dow, Aremco, and HB Fuller Company are some of the top producers of electrically conductive adhesives.
Asia pacific region is forecasted to have lucrative growth over the projected period. China's "Made in China 2025" policy established explicit goals to raise integrated circuit production's self-sufficiency to 40% in 2020 and 70% in 2025. As a result, it is anticipated that in the upcoming years, the range of applications for electrically conductive adhesives in circuit chips will expand. ASEAN nations have noticed an increase in electronics manufacturing firms investing in the area for manufacturing facilities.
Some of the key players in Electrically Conductive Adhesive market include: Permabond LLC, Parker Hannifin Corp, Panacol-Elosol GmbH, MG Chemicals, Master Bond Inc, HITEK Electronic Materials Ltd, Henkel AG & Co. KGaA, HB Fuller Company, Aremco Products Inc, 3M and Creative Materials Inc.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.