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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.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Form, Type, Application, and Region |
Electronic Adhesives Market Highlights:
Global Electronic Adhesive Market Overview
The Electronic Adhesive Market Size was valued at USD 4.50 Billion in 2022. The Electronic Adhesive industry is projected to grow from USD 4.82 Billion in 2023 to USD 7.06 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.79% during the forecast period (2023 - 2030). Electronic Adhesives are adhesives used in electronic circuits and devices. Adhesives, in general, are substances that bind two surfaces together strongly to keep them together. Electronic Adhesives are major electronic components that come into regular use in the assembly of an electric circuit. Of course, an electric circuit has many components. An electronic adhesive keeps the different components of the electronic circuit together. Electronic adhesives are used to tack wires in a circuit. They are also used for encapsulating components of the circuit.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Electronic Adhesive Market Trends
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High demand for advanced electronic devices
Electronic adhesives are used to bond or attach electronic components to substrates such as printed circuit boards (PCBs), and they play a critical role in ensuring the reliable performance of electronic devices. As the electronics industry continues to advance and introduce new and more sophisticated devices, the demand for electronic adhesives is expected to increase. These adhesives are needed to bond and protect components that are becoming smaller, more delicate, and more complex. Furthermore, the trend toward miniaturization of electronic components and devices is also expected to drive demand for electronic adhesives. As components become smaller and more densely packed, the need for precise and reliable bonding becomes increasingly important. In addition, electronic adhesives are also used in the assembly of flexible and foldable electronic devices, which are becoming more popular. The unique bonding requirements of these devices will likely create new opportunities for electronic adhesive manufacturers. Overall, the demand for electronic adhesives is likely to increase in the coming years as the electronics industry continues to advance and introduce new and more sophisticated devices.
Electronic Adhesive Market Segment Insights
Electronic Adhesive Form Insights
The market segmentation, based on Form, includes Paste, Solid, and Liquid. The Liquid segment holds the majority share in 2022, contributing to the global Electronic Adhesive revenue. Liquid electronic adhesives are used in a wide range of applications, including bonding electronic components to printed circuit boards (PCBs), sealing components to protect against moisture and environmental factors, and encapsulating components to improve their performance and reliability. The liquid segment includes a variety of different types of electronic adhesives, such as epoxy adhesives, silicone adhesives, and polyurethane adhesives, among others. These adhesives differ in their properties and are chosen based on the specific needs of the application.
Electronic Adhesive Type Insights
Based on Type, the market segmentation includes UV Curing, Thermally Conducive, Electrically Conducive, and Others. The Thermally Conducive segment dominated the market. Thermally conductive electronic adhesives are designed to transfer heat away from electronic components to heat sinks or other heat dissipation devices. They are commonly used in applications where heat dissipation is important, such as in LED lighting, power electronics, and automotive electronics.
Electronic Adhesive Application Insights
Based on Application, the market segmentation includes Integrated circuits, semiconductors, Printed Circuit Boards, and Others. The Integrated Circuit segment is the largest segment of the market. Electronic adhesives are used to attach ICs to printed circuit boards (PCBs) and to protect them from environmental factors such as moisture and temperature extremes. ICs are used in a wide range of electronic devices, from consumer electronics to industrial applications.
Figure 2: Electronic Adhesive Market, by Form, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Electronic Adhesive Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The APAC (Asia-Pacific) region continues to be the largest market for electronic adhesives. This can be attributed to several factors, including the region's large and rapidly growing electronics industry, which includes manufacturers of consumer electronics, automotive electronics, and industrial electronics. China, in particular, is a major market for electronic adhesives due to its large electronics manufacturing industry. Other countries in the region such as Japan, South Korea, and Taiwan are also significant markets for electronic adhesives due to their advanced electronics industries. The APAC region is also home to many of the world's largest electronic adhesive manufacturers. These companies are investing heavily in research and development to develop new and innovative electronic adhesives that meet the needs of the region's growing electronics industry.
Figure 3: ELECTRONIC ADHESIVE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Electronic Adhesive Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Electronic Adhesive industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Electronic Adhesive industry to benefit customers and expand the market sector. Major market players, including 3M Company, Alent, BASF, H.B. Fuller Company, Henkel AG & Co, Indium Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
3M is a multinational corporation that operates in various industries, including healthcare, consumer products, and industrial products. The company operates in several business segments, including Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal protective equipment, adhesives and tapes, industrial abrasives, and other products used in a wide range of industries. The Transportation and Electronics segment offers solutions for the automotive, electronics, and aerospace industries. The Health Care segment offers medical and surgical supplies, as well as drug delivery systems and dental products. The Consumer segment offers products for home and office use, such as adhesives, cleaning products, and home improvement supplies.
Alent is a multinational company that specializes in electronic materials and surface finishing. The company was acquired by the US-based chemical company, Platform Specialty Products Corporation. Alent operates in two business segments, namely Surface Treatment and Assembly Materials. The Surface Treatment segment provides plating chemicals and processes for the PCB and semiconductor industries. The Assembly Materials segment provides adhesives, underfills, and encapsulants for the electronics assembly market. The company's products are used in a wide range of applications, including smartphones, tablets, and automotive electronics. Alent has a global presence and operates in more than 50 countries worldwide, with manufacturing facilities in Asia, Europe, and North America.
Key Companies in the Electronic Adhesive market include
- 3M Company
- Alent PLC
- BASF SE
- B. Fuller Company
- Henkel AG & Co. KGaA
- Indium Corporation
- LG Chemical Limited
- The Dow Chemicals Company
- Dymax Corporation
- Hitachi Chemical Co
Electronic Adhesive Industry Development
Arkema acquired Polytec PT—a German-based developer of thermo interface materials for batteries and engineering adhesives—in May 2023 so as to reinforce Bostik's product offer addressing rising batteries and electronics markets.
Henkel Korea finished its world-class Songdo Plant located at Songdo High-tech Industrial Cluster in Incheon in August 2022, which is intended to become the Asia Pacific production center of adhesive technologies business unit's high-impact solutions on electronics.
In August 2022, there was an introduction into the marketplace by 3M of a new bonding solution known as 3M VHB Extrudable Tape aimed at increasing automation levels while keeping things simple and sustainable in the industry.
The Indian electronics industry is growing because of Make in India, an Indian government initiative that has brought investments from abroad into the electronics industry. Subsequently, this has led to a boom in the EMS segment of the Indian electronics manufacturing services industry. The Atmanirbhar Bharat initiative also aims at making India a global consumer electronic manufacturing hub.
Electronic Adhesive Market Segmentation
Electronic Adhesive Form Outlook
- Paste
- Solid
- Liquid
Electronic Adhesive Type Outlook
- UV Curing
- Thermally Conducive
- Electrically Conducive
- Others
Electronic Adhesive Application Outlook
- Integrated Circuit
- Semiconductor
- Printed Circuit Boards
- Others
Electronic Adhesive Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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