According to the report, the global electronics adhesives market was valued at US$ 3.23 Bn in 2014 and is expected to be worth over US$ 6 Bn by 2020, registering a compound annual growth rate of 12.1% through the forecast period.
Valley Cottage, NY -- (SBWIRE) -- 09/06/2016 -- Future Market Insights (FMI) announces the release of its latest report titled, "Electronics Adhesives Market: Global Industry Analysis and Opportunity Assessment, 2015 - 2020." According to the report, the global electronics adhesives market was valued at US$ 3.23 Bn in 2014 and is expected to be worth over US$ 6 Bn by 2020, registering a compound annual growth rate of 12.1% through the forecast period.
The global electronics adhesives market can be segmented on the basis of material, product, applications, and region.
On the basis of material type, the global electronics adhesives market is segmented into polyurethanes, epoxies, silicones, acrylics, and others. Amongst all, acrylic segment is forecasted to witness a highest CAGR of around 20% owing to their impressive performance characteristics which helps engineers to lower the total cost of equipment and reduce the time consuming procedures.
By product type, the global electronics adhesives market is segmented into electrically conductive, thermally conductive, ultraviolet curing, and others. Among these, electrically conductive adhesives segment is projected to account for more than 40% market share of the total market by 2020, registering a healthy CAGR of 16.7% during the forecast period.
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Application-wise, the global electronics adhesives market is segmented into surface mounting, wire tacking, encapsulation, and conformal coating. Among all the aforesaid applications, surface mounting segment is estimated to expand at an effective CAGR of 14.4% during the forecast period. Moreover, surface mounting and conformal coating segment together are expected to account for approximately 60% market share of the global electronics adhesives market through 2020.
Region-wise, Asia Pacific is anticipated to witness a robust CAGR of around 12% during the forecast period owing to increasing dominance of south East Asian countries such as China, Japan, South Korea, and India in the production electronic components. The growth of the Asia pacific region in the global electronics adhesives market will be followed by Europe, Middle East, and North Africa between 2014 and 2020.
Drivers and Restraints
Increasing usage of electronic components across various applications such as in imaging devices, automotive applications, aircrafts etc. is the key growth driver of the global electronics adhesives market. Increasing use of connected devices and miniaturization of electronic gadgets such as mobiles and PC will further fuel the growth of the global electronics adhesives market. Changing lifestyle, growing population, and rising disposable income are resulting in increased consumption of automated appliances are the other drivers of the global electronics adhesives market.
On the other Hand, volatility in feedstock price, and government regulations about limiting VOC emissions are projected to poise a great threat to global electronics adhesives market in the near future. Primary materials used in manufacturing of electronics adhesives such as polyurethane are mainly petroleum based and hence are very sensitive to prices fluctuations of crude oil.
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Key players in the global electronics adhesive market include 3M Company, Henkel AG & Company, Dymax Corporation, Dow Corning Corporation, Huntsman Corporation, and H. B.Fuller Company. Key focus of the major players in the global electronics adhesives market is on offering customized solutions to the client to meet their dynamic requirements and backward integration for easy and quality supply of raw material during the forecast period.