Thermally conductive adhesives segment is expected to witness a steady growth registering a robust CAGR of 12.6% during the forecast period.
Albany, NY -- (SBWIRE) -- 02/05/2016 -- Global Electronics Adhesives Market Overview
Global Electronics Adhesives market is projected to reach US$ 6,297.7 Mn by 2020, registering a CAGR of 12.1% during the forecast period, 2015-2020. Electronics adhesives are a class of specialty adhesives that find numerous applications in electronic devices and components used across diverse industries. The electronics adhesives have witnessed increased adoption in electronics assembly and electronics packaging applications owing to a gamut of functional advantages offered by these adhesives. The global demand for electronics adhesives is expected to reach 1.9 Mn tons by the end of forecast period.
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Electronics Adhesives Market: Materials Overview
Based on material type, global electronics adhesives market is segmented into epoxies, polyurethanes, silicones, acrylics, and others segments. Among the aforementioned segments, acrylics segment is expected to witness the fastest growth to reach US$ 1,983 Mn in value by 2020. Projected market value share of acrylics segment is 31% followed by silicones segment by 2020. According to FMI\'s forecast, epoxies and polyurethanes segments are expected to witness a steady growth in electronics adhesives market during the forecast period.
Regional Overview of the Electronics Adhesives Market
Asia Pacific dominates the market for electronics adhesives. The region accounted for an estimated 60% of the global electronics adhesives market value in 2014 and is expected to further strengthen its position by the end of 2020. Asia Pacific region is followed distantly by Europe and North America in terms of their share in the global electronics adhesives market. A steady high-single-digit growth is expected to be exhibited by these regions.
Drivers and Trends
The rapid technological advancements in electronics industry have resulted in miniaturization of electronics devices. This in turn has resulted in an increase in number of components mounted on PCBs and a corresponding increase in the amount of adhesives used for bonding or mounting these components. Sighting the increase in level of competition in the market, the major players have adopted a strategy of offering customized products based on the needs and specifications of their customers. Growing prominence of flexible electronics devices and an increase in use of imaging censors in consumer electronics has in turn resulted in an increase in demand for electronics adhesives across the globe. However, there are certain factors which act as restraints to the growth in electronics adhesives market. Some of these restraints are volatility of raw material prices, government regulations as regards VOC content in chemical formulations.
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The report also features a competitive landscape highlighting the key strategies, recent developments and global footprint of the major players operating in the electronics adhesives market. Companies featured in the report are Henkel AG & Co KGaA, 3M Company, H.B. Fuller Company, Evonik Industries AG, Dymax Corporation, and Dow Corning.
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