The increasing demand for electric vehicles across the globe is one of the key factors driving the global electronics adhesives market. As per analysis by Future Market Insights (FMI), the global electronics adhesives market is estimated to expand at a healthy CAGR of more than 8% over the forecast period of 2021-2031.
The automotive sector has witnessed notable growth in recent years, which is expected to continue in the coming decade, with the influx of electric vehicles and the incorporation of electronic systems in automotive models. Strong demand from the automotive and mobile and telecommunications industries is expected to fuel growth of the electronics adhesives sector. The demand for polyurethane adhesives is extremely high, will continue to hold a major market share over the next decade.
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The demand for electronics adhesives is anticipated to increase substantially in the near future owing to the growing applications in consumer electronics, driven by the growth in population and rise in disposable incomes.
Factors such as miniaturization of existing electronics products in order to increase efficiency, the adoption of surface mounting technology over soldering and welding, the growing popularity of electric vehicles are factors which are shaping the prospects of the market for the forecast period. However, the high cost of installation for the production of manufacturing equipment is hindering the global electronics adhesives market.
Key Takeaways from Electronics Adhesives Market Study
- Polyurethane adhesives will hold dominant market share of over 50% through the end of 2031, owing to extensive use in automotive systems.
- Electronics adhesive applications in the mobile and telecommunication sector is expected to reflect a 9.1% CAGR, owing to the widespread penetration of these technologies.
- Increasing requirements for surface mounting technology as an alternative for welding and soldering has accounted for over 16% of the market in 2021.
- Steadily increasing passenger vehicle production will drive growth in the U.S. It is expected to account for 82% of sales in North America in 2021.
- China is the largest and fastest growing market for electronics adhesives holding 43% of the East Asia market due to its presence as an international manufacturing hub.
- Germany holds the lead in the Europe electronics adhesives market with a valuation of US$ 359.7 Mn in 2021. Growth in Germany will be driven by the presence of well-established manufacturing facilities for automotive production.
- India is emerging as a lucrative market owing to investments in the manufacturing and automotive sectors in.
“With competition increasing at a rapid pace, there is immense focus on expansion of production capacity and regional footprint. To achieve this, the market players are focusing on mergers and aquisitions,” says an analyst of Future Market Insights.
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Who is Winning?
The global electronics adhesives market has been identified as a moderately consolidated market, with the Tier-1 manufacturers accounting for a significant share of the overall revenues, particularly in North America and Europe.
Some of the leading players included in the report are 3M, Dymax Corporation, DOW Inc., Henkel AG & Co. KGaA, H.B. Fuller Company (Royal Adhesives & Sealants LLC), Evonik Industries AG, Sika AG, Bostik AG, ThreeBond, Shin Etsu Silicones, Konishi Co, LTD., TERAOKA SEISAKUSHO CO., LTD., and TOMOEGAWA, YAMATO Co., Ltd. which are anticipated to create a tough competitive environment at the global level.
Want to Know More?
Future Market Insights has published a market research report on the electronics adhesives market that contains global, regional, and 20+ countries’ industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the electronics adhesives market through four different segments- material, application, end use and region. The electronics adhesives market report further provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market along with a detailed overview of the parent market.