Electronic Adhesives Market Size to Accelerate at a Rapid 12.03% CAGR from 2017 to 2020
The global electronic adhesives market is characterized by the rise in presence of leading players in emerging economies of Asia Pacific. The region provides immense opportunities to companies engaged in production, sale, and distribution of electronic adhesives. Increasing number of market players have been considering expansion into Asia Pacific as a major strategic move to extend reach and strengthen their position in the global market. The electronic adhesives market is also anticipated to expand due to the rise in demand for compact and lighter components in the electronic industry. Additionally, growth in penetration of Internet of Things (IoT) is driving the market. Increase in adoption of connected devices has transformed the way electronic appliances are built, giving players significant opportunities to make the most of this trend.
The global electronic adhesives market is primarily driven by the growth in usage of electronic components in several applications such as automotive, consumer electronics, medical devices, imaging devices, and aircraft. Rise in usage of connected devices and increase in trend of miniaturization of electronic devices are also boosting the demand for electronic adhesives. Other factors supporting the electronic adhesives market include rise in disposable income, changing lifestyle of consumers, and increase in consumption of automated appliances.
In terms of product, the electronic adhesives market has been divided into UV curing, thermally conductive, electrically conductive, and others (including cyanoacrylate and polyamide). The electrically conductive segment dominates the electronic adhesives market. In terms of volume and value, the segment is projected to expand at a rapid pace during the forecast period. The UV curing segment held 32.8% share of the global electronic adhesives market in 2017. It is expected to be a rapidly growing segment during the forecast period. UV curing is used due to environmental demands, and manufacturing yield improvement.
The information Presented in this Review is Based on Press-Release by TMR
Bases on resin, the global electronic adhesives market has been segregated into silicones, polyurethanes, epoxies, acrylics, and others (including polyester and polyol). Silicones are strong adhesives known for their flexibility and high temperature resistance. Their adhesion to surfaces is average, but their flexibility and durability is excellent. Based on application, the global electronic adhesives market has been classifies into encapsulation, conformal coatings, wire tacking, and surface mounting. Conformal coatings and surface mounting are the leading application segments of the market.