The electronic Adhesives Market size is forecast to reach $5.3 billion by 2027, after growing at a CAGR of 6.5% during 2022-2027. Electronic adhesives are used for circuit protection and electronic assembly applications such as bonding components, wire tacking, and encapsulating electronic components. The use of electronic adhesives in manufacturing components for electric vehicles such as printed circuit boards, lithium-ion batteries, and battery pack assemblies are facilitating the growth of the market. The growing adoption of surface mounting technology to replace welding and soldering is one of the prominent trends in the electronics industry, shaping the demand for electronics adhesives.
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Electronic Adhesives Market Segment Analysis - By Type
The electrically Conductive segment held the largest share of more than 30% in the electronics adhesives market in 2020. Electrically Conductive are used in various industry verticals such as aerospace, automotive, medical, and telecom products. Electrically conductive is an excellent solution for making electrical contacts on PCBs and other temperature-sensitive substrates, as their curing temperature is below the soldering temperature. An increase in demand for Anisotropic Conductive Adhesives (ACA) in LCD connections, PCBs, and bonding antenna structures further boost the demand for the market. Electric conductive is also used in the LED industry for their capacity to serve as stable electrical contacts by absorbing mismatches, which will likely boost the market's growth for the forecasted period.
Electronic Adhesives Market Segment Analysis - By Resin Type
Epoxy segments held the largest share of more than 25% in the market in 2020. Epoxy is widely used in electronic applications, either in two-part or single-part heat cure products. Epoxy has good resilience against environmental and media influences, it has a dry and non-tacky surface which is perfect to be used as a protective coating and is widely used in adhesives, plastics, paints, coatings, primers and sealers, flooring, and other. Curing epoxy adhesives can take place either at room or elevated temperature or through photoinitiators and UV light. Modern photoinitiators also react to the special UV spectrum of LED light sources, so that newly developed epoxide resin adhesives can be cured with both UV and UV LED light. Some epoxies exhibit optical properties and diffraction indexes, making them useful for applications in precision optics, lens bonding, and information technology, which will further boost the market's growth.
Electronic Adhesives Market Segment Analysis - By Application
The printed Circuit Boards (PCBs) segment held the largest share of more than 35% in the market in 2020. Electronic adhesives are used as a conformal coating in PCBs. The adhesive is used in wire tracking, potting & encapsulation of components, conformal coatings of circuit boards, and bonding of surface mount components. PCBs are highly reliable, cheap, have less chance of short circuit, are easily repairable, and are compact in size. The growing uses of laptops, smartphones, and household appliances coupled with developing living standards further drive the growth of PCB. Whereas, the growing uses of PCB’s in automotive, industrial & power equipment, control & navigation systems, and aerospace monitoring also contribute to the market growth. According to Aerospace Industries Association (AIA) report, in 2018, aerospace and defense exports amounted to $151 billion, an increase of 5.81% from the previous year, and civil aerospace accounted for the majority of exports with $131.5 billion.
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Electronic Adhesives Market Segment Analysis - By End-User Industry
The Consumer Electronics segment held the largest share of more than 30% in the electronic adhesives market in 2020. Rapid urbanization and an increase in the development of new technology have propelled the demand for consumer electronics. As per the United Nations, 55% of the world’s population lives in urban areas, which propel the demand for consumer electronics. The growing demand for lightweight and portable equipment such as smartphones, laptops, and digital cameras is playing a significant role in boosting the demand for the market. As per a report
