DUBLIN, Jun 15, 2021--(BUSINESS WIRE)--The "Electronics Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Electronics Adhesives market is projected to register a CAGR of 9% during the forecast period (2021-2026).
AVERY DENNISON CORPORATION
H.B. Fuller Company
Henkel AG & Co. KGaA
Huntsman International LLC
Illinois Tool Works Inc. (ITW)
Pidilite Industries Ltd.
COVID-19 has a positive impact on the electronics adhesives market. According to JEITA, the global electronics, and IT industries' production has seen an increase of 2% with a year-on-year growth to reach USD 2.9 trillion. The positive growth is due to the greater demand for electronic components and devices to boost contactless interaction and to 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 along with the rising demand for electronic products globally.
Over the medium term, the major factors driving the market are increasing demand for electronics in the Asia-Pacific region and the growing technological advancements in electronics adhesive manufacturing. Asia-Pacific is one of the leading manufacturers of electronics in the world and accounts for more than 70% of the global electronics production, with counties like South Korea, Japan, and China involved in manufacturing of various electrical components and supply to various industries worldwide
Key Market Trends
Surface Mounting Application to Dominate the Market
Surface mounting, also known as chip bonding, is the major application of adhesives in the electronics industry.
Surface-mount technology extensively uses electronics 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-mount-devices on beads or dots of UV curing adhesives and curing the adhesive to firmly, securely hold the device at the requisite place during further processing of the electronic equipment being manufactured.
Surface mounting adhesives act as a processing aid by holding the mount devices until permanent attachment by soldering and offer stress relief to soldering parts to prevent failure of electric 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 depending on the application, they can either be electrically conductive or electrically non-conductive and/or thermally conductive.
Asia-Pacific Region to Dominate the Market
Asia-pacific accounts for the highest share of the global electronics adhesives market with the majority of the demand coming from China.
China is emerging as one of the biggest markets, both in terms of consumption and production of electronic adhesives, and accounts for slightly more than half of the total market in the Asia Pacific.
Factors, like increasing urbanization, growing connectivity, combined with the usage of advanced technology in the manufacturing of safety technologies and infotainment systems, are boosting the demand for printed circuit boards.
The Chinese consumer electronics is valued at around USD 248.7 billion USD 2020, with a fall in revenue by 0.2% compared to 2019. The Chinese consumer electronics is forecasted to grow by around 4% to reach USD 258.8 billion in 2021.
Apart from China, other countries, such as South Korea, Japan, and Singapore are also expected to witness significant growth in demand for electronics adhesives during the forecast period.
The Indian government initiative "Make in India" has been attracting foriegn direct investments to the electronics sector, this in turn has lead to a boost in the electronics manufacturing services industry in the country. The Atmanirbhar initiative also emphasises on making India into a global consumer electronics manufacturing hub. For instance, in February 2021, Amazon India announced to commence electronic devices manufacturing India, which is likley to boost the electronic adhesives demand in the country.
The Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025. Additionally, in India, technology transitions, such as the rollout of 4G/LTE networks and IoT (Internet of Things), are driving the adoption of electronic products.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Technological Advancements in Electronic Adhesives
4.1.2 Other Drivers
4.2.1 Stringent Regulations Related to the VOCs
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Resin Type
5.3 End-user Industry
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Electric Vehicles
For more information about this report visit https://www.researchandmarkets.com/r/f99e45
View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005640/en/
Laura Wood, Senior Press Manager
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