by The global electronic adhesives market size was estimated at USD 5.20 billion in 2023 and is predicted to reach around USD 12.40 billion by 2033, growing at a CAGR of 9.07% from 2024 to 2033.
Key Points
- Asia Pacific dominated the electronic adhesives market in 2023 and accounted for 32% revenue share.
- North America is the fastest-growing region in the global market.
- By resin type, the epoxy segment has accounted market share of around 37% in 2023.
- Based on application type, the surface mounting segment dominated the market in 2023.
- Based on end user, the consumer electronics segment dominated the market in 2023 and will continue doing so throughout the forecast period.
The electronic adhesives market is witnessing steady growth globally, driven by the increasing demand for miniaturized electronic devices across various industries such as consumer electronics, automotive, and healthcare. Electronic adhesives play a crucial role in bonding components within electronic devices, providing structural integrity, thermal management, and electrical conductivity.
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Growth Factors:
Several factors contribute to the growth of the electronic adhesives market, including advancements in electronic manufacturing technologies, the trend towards miniaturization of electronic devices, and the rising demand for flexible and wearable electronics. Additionally, the expansion of the automotive electronics sector and the proliferation of smart devices further propel market growth.
Region Insights:
The electronic adhesives market exhibits regional variations in terms of demand and adoption. Developed regions like North America and Europe dominate the market due to the presence of established electronics manufacturing industries and technological advancements. However, emerging economies in Asia-Pacific, particularly China and India, are experiencing rapid growth due to the increasing penetration of electronic devices and expanding manufacturing capabilities.
Electronic Adhesives Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 9.07% |
| Global Market Size in 2023 | USD 5.20 Billion |
| Global Market Size in 2024 | USD 5.67 Billion |
| Global Market Size by 2033 | USD 12.40 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Resin Type, By Form, By Application, and By End-user Industry |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Electronic Adhesives Market Dynamics
Drivers:
Key drivers of the electronic adhesives market include the growing demand for electronic devices with higher performance and reliability, stringent regulations promoting the use of eco-friendly adhesives, and the shift towards electric vehicles driving the demand for electronic components. Additionally, the increasing adoption of advanced packaging technologies such as flip-chip and system-in-package (SiP) further boosts market growth.
Opportunities:
Opportunities in the electronic adhesives market lie in the development of innovative adhesive formulations to meet the evolving needs of electronic manufacturers, expansion into emerging markets with high growth potential, and strategic partnerships and collaborations to enhance product offerings and distribution networks. Moreover, the rising adoption of electric vehicles and the Internet of Things (IoT) present significant growth opportunities for electronic adhesives manufacturers.
Challenges:
Despite the positive growth prospects, the electronic adhesives market faces challenges such as intense competition from alternative bonding technologies like soldering and welding, fluctuations in raw material prices, and regulatory constraints related to the use of hazardous substances in adhesive formulations. Moreover, the complexity of electronic assemblies and the need for specialized adhesive solutions pose challenges for manufacturers.
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Recent Developments
- In May 2023, Arkema acquired Polytec PT, a German company that specializes in manufacturing adhesives for batteries and electronic products. The company has sales worth 15 Euros and has its main production site in Karlsbad, Germany. Arkema assures us that it will strengthen the company further by serving the best in the ever-growing batteries and electronics market.
- In February 2024, Intertronics, a company specializing in adhesive manufacturing, launched a structural adhesive selection guide. It will help the manufacturers find the right optimal adhesive for their application in order to get a strong and highly effective bond. In this guide, one can find a detailed overview of the chemistries of five structural adhesives: Epoxy, polyurethane, cyanoacrylate, UV curing, and methyl methacrylate (MMA). The guide has been designed in a way that will benefit a wide range of industries, including automotive, aerospace, electronics, construction, etc.
Electronic Adhesives Market Companies
- Arkema
- 3M
- Ashland
- AVERY DENNISON CORPORATION
- BASF SE
- Beardow Adams
- CHEMENCE
- Covestro AG
- Dow
- Fuller Company
- Henkel AG & Co. KGaA
- Huntsman International LLC
- Illinois Tool Works Inc. (ITW)
- MAPEI S.P.A.
- Permabond LLC
- Pidilite Industries Ltd.
- Sika AG
Segments Covered in the Report
By Resin Type
- Epoxy
- Acrylics
- Polyurethane
- Silicone
- Others
By Form
- Liquid
- Paste
- Solid
By Application
- Conformal Coatings
- Surface Mounting
- Encapsulation
- Wire Tacking
- Others
By End-user
- Consumer Electronics
- IT Hardware
- Automotive
- Medical
- Aerospace & Defense
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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