Increasing demand for electronic adhesives from the electronic assembly industry globally
The Global Electronic Adhesives Market is projected to reach USD 6,085.4 million by 2031, registering a CAGR of 10.1% from 2022 to 2031. The demand for electronic adhesives is high, as it has excellent conductivity, tensile strength, long life span, and thermal stability. The growing demand from the Asia-Pacific region and the increasing application sectors such as electronic assembly, mobile electronics, circuit manufacturing & assembly, and so on fuel the growth of adhesives in the global electronics market. Electronic adhesives are used as the preferred substitute for traditional tin-lead solders by major electronics and semiconductor device manufacturers and suppliers globally.
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Semiconductor & IC, the fastest growing application for electronic adhesives
Adhesives are used to place surface mount devices (SMDs) in semiconductor and ICs. The adhesives in liquid form are dispensed through needles from syringes or they may be applied by pin transfer method, if smaller dots are required. The key driver for the growth of electronic adhesives in this application is the increasing need of miniaturization of the semiconductor devices. The growing needs of environmentally friendly adhesives in chip assembly, LEDs, die attachment, and IC packaging has led to the growth of electronic adhesives in the semiconductor & IC application.
Asia-Pacific, the fastest growing market for electronic adhesives
The Asia-Pacific region is the fastest-growing market of electronic adhesives, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing electronic adhesives patents, expansion, and global shift of consumption and production capacity from the developed markets to the emerging markets are few factors leading to the growth of electronic adhesives in this region.
China dominates the electronic adhesives market in Asia-Pacific. Its consumption of electronic adhesives has grown exceptionally and is expected to witness further growth in the near future. The rise in connectivity and growing levels of urbanization are the driving factors for the growth of mega cities, which is leading towards an increasing demand for adhesives in electronics in this country.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: By Company; By Designation; and By Region.
• By Company Type- Tier 1- 50%, Tier 2- 33% and Tier 3- 17%
• By Designation- C Level- 50%, Director Level- 17% and Others- 33%
• By Region- Asia-Pacific- 70%, North America- 18% and Europe- 12%
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The report also provides company profiles and competitive strategies adopted by the major market players, such as Alent Plc (U.K.), BASF SE (Germany), H.B. Fuller (U.S.), Henkel AG & Co. KgaA (Germany), Indium Corporation (U.S.), Kyocera Chemical Corp (Japan), LG Chemical Limited (South Korea), Mitsui Chemicals (Japan), The DOW Chemical Co. (U.S.), and the 3M Company (U.S.), among others.
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