Electronic Adhesives Market Analysis

The use of curing adhesives in the electronics manufacturing industry is experiencing a notable upswing, driven by their properties and process advantages that align seamlessly with the evolving demands of the electronic sector. The contemporary drivers in the electronic industry, which include environmental and health & safety requisites, miniaturization, cost reduction, and enhanced manufacturing yield, find a fitting solution in the application of curing adhesives. These adhesives have proven versatility, being employed in various electronic manufacturing processes such as wire and parts tacking, strain relief, tamper-proofing, coil terminating, temporary masking, structural bonding, encapsulation, potting, conformal coating, surface mount component attachment, and glob topping.
One of the key advantages of curing adhesives is their ability to bolster production rates without causing damage to sensitive electronic components. This, in turn, facilitates in-line testing, assembly streamlining, minimizes handling, and extends the overall product life. In recent times, innovations in the electronics industry, spanning diverse sectors such as hybrid vehicles, mobile electronic devices, medical applications, digital cameras, computers, defense telecommunications, and augmented reality headsets, have significantly contributed to the growth of curing adhesives. In fact, these adhesives have started to replace traditional soldering systems in numerous applications, showcasing their adaptability to modern manufacturing needs.
The global market for curing adhesives in the electronics, electrical, and technological sectors has received a substantial boost, with the Japan Electronics and Information Technology (JEITA) reporting an estimated 2% year-on-year increase in production for 2020, reaching USD 2,972.7 billion. The forecast for 2021 is even more promising, anticipating a 7% year-on-year growth to achieve a record USD 3,175.6 billion. This growth is indicative of the pivotal role played by curing adhesives in meeting the escalating demands of the burgeoning electronics and information technology industries on a global scale.
The Asia-Pacific region, in particular, stands out as a major driver for the substantial traction gained by the curing adhesives market. The electronic industry's rapid ascent in this region, fueled by an increased demand for consumer electronics, is a significant contributing factor. Household demand is expected to surge, driven by rising disposable incomes, evolving lifestyles, and improved access to credit. In India, for instance, the electronics market is projected to register an impressive CAGR of 41.4%, reaching a value of USD 400 billion by 2020, according to the India Brand Equity Foundation. Government initiatives like 'Make in India', National Policy on Electronics, and the Phased Manufacturing Programme further bolster the demand for curing adhesives.
the upward trajectory of the curing adhesives market in the electronics sector is underscored by its ability to meet the stringent requirements of modern electronic manufacturing. With applications spanning various electronic processes and its pivotal role in cutting-edge innovations, the market for curing adhesives is poised for sustained growth, particularly in regions such as Asia-Pacific where the electronic industry is experiencing a robust expansion.