Global Electronic Adhesives Market (2021-2026) –
Dublin, June 15, 2021 (GLOBE NEWSWIRE) – The “Electronic Adhesives Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” report was added to ResearchAndMarkets.com offer.
The electronic adhesives market is expected to register a CAGR of 9% during the forecast period (2021-2026).
COVID-19 is having a positive impact on the electronic adhesives market. According to JEITA, the global production of electronics and information technology grew by 2% with annual growth to reach $ 2.9 trillion. The positive growth is due to the increased demand for electronic components and devices to stimulate contactless interaction and use remote information technologies. Electronic adhesives are very important components in electronics as they are used in manufacturing and to protect high performance electronic devices. This positive growth is expected to continue alongside growing demand for electronics globally.
In the medium term, the main factors driving the market are the growing demand for electronics in the Asia-Pacific region and the increasing technological advancements in the manufacturing of electronic adhesives. Asia-Pacific is one of the world’s leading electronics manufacturers and accounts for over 70% of global electronics production, with countries like South Korea, Japan, and China involved in manufacturing various electrical components and supply to various industries in the world.
However, the volatility of commodity prices slows the growth of the studied market. The increasing adoption of electric vehicles is expected to offer a major growth opportunity for the studied market. Among the application areas, surface mount is expected to dominate the studied market during the forecast period. Asia-Pacific accounted for the highest share of the market and is expected to continue to dominate the market during the forecast period.
Key market trends
Surface mount application to dominate the market
- Surface mounting, also known as chip bonding, is the primary application of adhesives in the electronics industry.
- Surface mount technology widely uses electronic adhesives in electronic assembly to mount electronic components to the surface of the printed circuit board (PCB).
- Electronic adhesives are used for both wave soldering and reflow soldering processes. These compounds have excellent electrical conductivity and are easy to distribute. The process includes placing surface mounted devices on beads or dots of UV curing adhesive and curing the adhesive to hold the device firmly and securely in the required location during further processing of the electronic equipment. during manufacture.
- Surface mount adhesives act as a processing aid by holding fixtures until they are permanently attached by welding and provide stress relief to parts to be welded to prevent failure of electrical connections.
- The types of adhesives used in this application are mostly one-component systems, made from acrylics, epoxies or urethane acrylates. The function of these adhesives also varies according to the application, they can be either electrically conductive or electrically non-conductive and / or thermally conductive.
- Additionally, electronic adhesives act as alternatives to tin soldering. With increasing regulations, companies are increasingly switching from tin soldering to using electrically conductive adhesives.
- The properties of the adhesives required for surface mounting are long shelf life, zero spun, high wet weight, fast curing, high strength and good flexibility, and good electrical properties after curing. Additionally, single component systems are preferred for these applications to avoid air entrapment, viscosity changes and pot life.
- It is estimated that the increasing research in the development of high performance adhesives for mounting miniaturized devices in the electronics industry will drive the market during the forecast period.
- The global consumer electronics market revenue was around $ 1.02 trillion in 2020, down from $ 1.03 trillion in 2019, a decrease of 0.8%. The drop in turnover is due to the impact of COVID and the trade war between the United States and China, which has impacted the supply of raw materials, thus affecting the electronics market. general public and in turn the electronic adhesive market.
- Electronics revenue is expected to grow 3.6% for the year 2021 and is expected to reach around $ 1.6 trillion. The market is expected to grow each year with a CAGR of 2.3%. The increased demand for consumer electronics, in turn, will increase the demand for the electronic adhesive market.
- Due to the increasing adoption of surface mount technology across the world for the manufacturing of printed circuit boards, the surface mount application is likely to dominate the electronic adhesives market during the forecast period. .
The Asia-Pacific region will dominate the market
- Asia-Pacific accounts for the highest share of the global electronic adhesives market, with the majority of demand coming from China.
- China is emerging as one of the largest markets, both in terms of consumption and production of electronic adhesives, and accounts for just over half of the total market in the Asia-Pacific region.
- Factors such as increasing urbanization, increasing connectivity, combined with the use of advanced technologies in the manufacture of security technologies and infotainment systems, are driving the demand for printed circuit boards.
- Chinese consumer electronics is valued at around 248.7 billion USD in 2020, with revenue declining 0.2% from 2019. Chinese consumer electronics is expected to grow by around 4% to reach 258, 8 billion USD in 2021.
- Besides China, other countries such as South Korea, Japan and Singapore are also expected to experience significant growth in demand for electronic adhesives during the forecast period.
- The Indian government’s “Make in India” initiative has attracted foreign direct investment in the electronics sector, which in turn has given a boost to the electronics manufacturing service industry in the country. . The Atmanirbhar initiative also focuses on transforming India into a global consumer electronics manufacturing hub. For example, in February 2021, Amazon India announced the launch of electronics manufacturing in India, which is expected to boost the demand for electronic adhesives in the country.
- India’s electronics market is expected to reach $ 400 billion by 2025. In addition, India is expected to become the fifth largest consumer electronics and home appliance sector in the world by 2025. In addition, in India, technological transitions, such as the deployment of 4G / LTE and IoT (Internet of Things) networks are driving the adoption of electronic products.
- The automotive industry produced a total of 4,516,017 vehicles (including passenger and utility vehicles) in 2019, compared to 5,174,645 vehicles in 2018, registering negative growth of around 12.2%. At the same time, new vehicle sales fell by around 13.26% in 2019 compared to 2018. The drop in demand and the build-up of inventory at the automaker led to a further decline in auto production. national.
- According to OICA, the country produced a total of 3.39 million vehicles in 2020, down 25% from 2019. The auto industry is already facing a critical situation and is being hit hard by the spread of coronavirus.
- Hence, owing to the above mentioned factors, Asia-Pacific is likely to dominate the studied market during the forecast period.
The global electronic adhesives market is partially consolidated as the market share is significantly divided among few players. Some of the major market players include Henkel AG & Co. KGaA, Dow, HB Fuller Company, 3M and BASF SE, among others.
Reasons to buy this report:
- The Market Estimate (ME) sheet in Excel format
- 3 months of analyst support
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Technological Advances in Electronic Adhesives
4.1.2 Other pilots
4.2.1 Strict VOC regulations
4.2.2 Other restrictions
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Type of resin
5.1.4 Other types of resin
5.2.1 Compliant coatings
5.2.2 Surface mounting
5.2.4 Wire stapling
5.2.5 Other applications
5.3 End-user industry
5.3.1 Consumer equipment
5.3.2 Computer hardware
5.3.4 Other end-user industries
184.108.40.206 South Korea
220.127.116.11 ASEAN countries
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share (%)
6.3 Strategies adopted by the main actors
6.4 Company profiles
6.4.3 Ashland Land
6.4.4 AVERY DENNISON COMPANY
6.4.5 BASF SE
6.4.6 Beardow Adams
6.4.8 Covestro SA
6.4.10 HB Fuller Company
6.4.11 Henkel AG & Co. KGaA
6.4.12 Huntsman International LLC
6.4.13 Illinois Tool Works Inc. (ITW)
6.4.14 MAPEI SpA
6.4.15 Permabond SARL
6.4.16 Industries Pidilite Ltée.
6.4.17 Sika SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing demand for electric vehicles
For more information on this report, visit https://www.researchandmarkets.com/r/guls0c