- The growing demand for electrical and electronic products across developed and developing countries is mainly causing the market growth of electronics adhesives
- Geographically, Asia-Pacific dominated the global electronic adhesives market in 2019
The global electronics adhesives market is projected to reach around $14.0 billion by the end of 2027, in terms of revenue as per a report by Coherent Market Insights (CMI). It will grow at a compound annual growth rate of 12.1 per cent during the forecast period (2020-2027
The report said that the growing demand for electrical and electronic products across developed and developing countries is mainly causing the market growth of electronics adhesives. The low operating cost of the manufacturing of electronic adhesives has also changed the electronic sector. Innovations and increasing sales of electronic devices are expected to further boost the market growth of the electronics adhesives.
As per the report, the growing popularity of medical and wearable devices is also expected to speed up the market growth of electronic adhesives. The growing use of electronic adhesives in various medical devices is raising demand for electronic adhesives. It also said that the growing demand for electronic adhesives from printed circuits boards is further expected to lead to market growth over the forecast period.
Growing demand for UV curing products across high-performance electrical &electronic devices will also boost up the market growth over the forecast period. It said, “High-performance electronic devices require better insulation and thermal properties which is likely to raise the demand for UV curing product thus augmenting the market growth of electronic adhesives.”
Die-attachment applications and semiconductor and circuit assembly applications
The report said that the presence of the well-established electronic industry in mature markets such as North America and Europe has resulted in the saturation of the industry. It will remain so in the coming years and is expected to hinder the market growth of electronic adhesives in mature markets.
Geographically, Asia-Pacific dominated the global electronic adhesives market in 2019. It captured 62 per cent market share in terms of revenue, followed by Europe and North America, respectively. This was mainly due to the increasing demand for electronic adhesives in various applications like die-attachment applications and semiconductor and circuit assembly applications.
Electrically conductive dominated the global electronics adhesives market in 2019 in terms of product type. It captured 37 per cent of market share in terms of revenue followed by ultraviolet curing and thermally conductive, respectively.
Demand for epoxy adhesives rising
The report said that the demand for epoxy adhesives across semiconductors and IC components is increasing. It added, “Growing demand for IC packaging, encapsulants, substrate bonding are some of the key applications fueling demand for epoxy adhesives and this is expected to augment the market growth of electronic adhesives.” It also said that the rising demand for environmentally friendly electronic adhesives is expected to speed up the market growth of electronic adhesives.
