Electronic adhesives are extensively used for manufacturing and assembling electronic components and products. Application-wise, the electronic adhesives market is divided into semiconductor and IC (Integrated Circuit) and PCB (Printed Circuit Board). The market for electronic adhesives is broadly segmented according to properties into thermally conductive, electrically conductive, UV curing, and others. Thermally conductive and electrically conductive electronic adhesive sectors are leading the market, while the UV curing adhesives sector will shine as the fastest growing segment in the coming years.
Given the highly competitive nature of the electronic adhesives market and end-users’ preference for novel electronic products, market players with innovative solutions will flourish. However, the massive installation cost associated with product assembly, lamination, and packaging of advanced machinery will somewhat constrict the growth of the electronic adhesives market. Though the market players are competing on the basis of innovative products rather than price, the high cost of electronic products will suppress the market to an extent.
Nevertheless, the growing safety regulations for electronics will lift the market. Additionally, market players in the electronic devices industry will benefit from the growth of its end-user industries such as imaging devices, aircrafts, and automotive. The uprising trend of miniaturization of electronic gadgets will further bolster the market growth.
Geographically, the Asia-Pacific market is adding to the growth of the global electronic adhesives market, while mature electronics markets such as Europe and North America are hampering it. The Asia-Pacific market will demonstrate the fastest growth in the coming few years, attributed to the growing dominance of countries such as Japan, China, India, and South Korea in the electronic components production sector.
Nonetheless, the accelerating technological breakthroughs in developed and emerging regions will result in decent growth of the global electronic adhesives market during the forecast period.
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