Product type Overview
Based on the type of electronics adhesives, the market has been segmented into electrically conductive, thermally conductive, UV curable and others. Among these segments, electrically conductive and UV curable segments are expected to dominate the market, with the former accounting for around 40% of market value share by 2020. Thermally conductive adhesives segment is expected to witness a steady growth registering a robust CAGR of 12.6% during the forecast period.
On the basis of applications, global electronics adhesives market has been segmented into four segments namely conformal coating, encapsulation, surface mounting and wire tacking. Surface mounting and conformal coating application segments account for major share in overall electronics adhesives market value closely followed by the encapsulation segment. The surface mounting segment is expected to witness a robust growth at a CAGR of 14.3% during the forecast period.
Drivers and Trends
The rapid technological advancements in electronics industry have resulted in miniaturization of electronics devices. This in turn has resulted in an increase in number of components mounted on PCBs and a corresponding increase in the amount of adhesives used for bonding or mounting these components. Sighting the increase in level of competition in the market, the major players have adopted a strategy of offering customized products based on the needs and specifications of their customers. Growing prominence of flexible electronics devices and an increase in use of imaging censors in consumer electronics has in turn resulted in an increase in demand for electronics adhesives across the globe. However, there are certain factors which act as restraints to the growth in electronics adhesives market. Some of these restraints are volatility of raw material prices, government regulations as regards VOC content in chemical formulations.
The report also features a competitive landscape highlighting the key strategies, recent developments and global footprint of the major players operating in the electronics adhesives market. Companies featured in the report are Henkel AG & Co KGaA, 3M Company, H.B. Fuller Company, Evonik Industries AG, Dymax Corporation, and Dow Corning.
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