For manufacturers in the electronics adhesives industry, bolstering distribution networks and volatility in the prices of raw materials are major challenges during the pandemic period.
DUBAI, UAE / ACCESSWIRE / September 1, 2020 / Future Market Insights: The worldwide electronics adhesives market is expected to rise 2x between 2020 and 2030, reaching a valuation of US$ 13 billion. The covid-19 pandemic has moderately impacted the electronics adhesives market. Suspension of activities in production facilities and restrictions on consumer electronics, appliance, and automotive sectors are holding back short-term growth in the market. However, market players are leveraging demand for electronics adhesives for medical devices such as ventilators, creating limited growth opportunities.
"Growing demand for low-cost, reliable, and miniaturized electronic devices, from consumers and manufacturers, and the critical need for adhesives in high-performance industrial and consumer electronic systems will sustain growth in the long term," says the FMI analyst.
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Electronics Adhesives Market - Primary Takeaways
- Encapsulation applications are reflecting fast growth rates, supported by relay, power train, and transformer production and use.
- UV curing products hold major revenue share, driven by superior characteristics of thermal conductivity and insulation.
- North America is displaying prospects for promising growth, supported by demand for electronics adhesives in aerospace and defense sector applications.
Electronics Adhesives Market - Growth Factors
- Frequent advances in electronic devices and components, and the resultant demand for specialist adhesives.
- Niche applications in the rapidly growing microelectronics sector contributes to is a major contributor to market developments.
Electronics Adhesives Market - Major Constraints
- Environmental concerns associated with the production of electronics adhesives is an obstacle to potential adoption rates.
- Poor resistance to cold and hot environments, and resultant mechanical flaws are challenging manufacturers.
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The Projected Impact of Coronavirus
The electronics adhesives market has witnessed a slowdown since the beginning of the global pandemic. Temporary shut downs of industrial facilities in the consumer electronics, appliances and automotive sectors have hit demand for adhesive materials in the short term. In addition, lockdowns have also limited the distribution of electronics adhesives. However, the rising demand for medical devices such as ventilators during the crisis will generate niche growth opportunities. This requirement has also resulted in the designation of electronic adhesives as essential goods in many countries boosting overall growth.
Competition Landscape
The electronics adhesives market comprises players including but not limited to Panacol-Elosol GmbH, Henkel AG & Co., KgaA, DELO Industrial Adhesives LLC, Dow Chemical Company, Bondline Electronics Adhesives Inc., Sika AG, Avery Dennison Corp., 3M Company, HB Fuller, and Wacker Chemie AG.
Players in the electronics adhesives market are pushing to invest in product development strategies aimed towards eco-friendly formulations and widening the overall scope of application for their offerings.
For instance, DELO has unveiled DELO MONOPOX TC2270, a new insulating and conductive electronic adhesive offering for semiconductor applications. MacDermid Alpha Electronics is unveiling its NP505- HR Solder paste which will provide superior thermal cycle and impact bend performance. Further, Master Bond Inc. has released EP62-1LPSPMed, a two-part, bio-compatible epoxy for electronic coating applications.
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More About the Study
The FMI study provides detailed insights on electronics adhesives market. The market is broken down in terms of material (PUR, polyurethane, acrylic, silicone, and epoxy), application (thermal management, conformal coatings, encapsulation, surface mounting, wire tacking, soldering, underfill, sealing, and constructional) and end use (mobile & telecommunication, desktops and networks, television, home appliances, automotive, aerospace, analytical & measurement, and others) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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