The global electronics adhesives market is boosted by factors such as the rising use of consumer electronics and other connected devices, and the increasing trend of miniaturization of consumer electronic devices. The consistently increasing disposable income of the people, the rising usage of automated appliances, and changing lifestyles are also predicted to boost the global market. However, changing government regulations and instability in the prices of feedstock are predicted to hamper the global market throughout the forecast period.
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Companies dealing in electronics adhesives are offering customized services as per the client requirements. This trend has boosted the global electronics adhesives market in the past decade, as offering customized services has helped key companies in establishing a firm foothold in the global market.
Adoption of Advanced Technology Helps Key Companies Manufacture Customized Electronics Adhesives
A growing number of players have been concentrating on upgrading their electronics adhesives services in many regions across the globe. With this, they aim to manufacture customized services and products for the patrons. The availability of state-of-the-art production facilities, an established customer base, and the rising production of customized consumer electronics are some of the factors that can be credited for the growth of the global electronics adhesives market. The entry of local manufacturers is expected to make the global market highly competitive in the years to come.
Several players are trying to make the most of the technical advancements and the availability of manufacturing infrastructure. Dymax Corporation, 3M Company, Henkel AG & Co KgaA, Evonik Industries AG, Dow Corning, and H.B. Fuller Company are some of the companies having a dominant presence in the global electronics adhesives market. Branding and accurate promotion of services have helped these key companies in maintaining their dominance.
Continued development of new technologies and applications and miniaturization of preexisting electronics adhesives are two of the factors expected to benefit the global market in the next five to ten years. For instance, in the case of semiconductors, the implementation of miniaturization will reduce the excess use of adhesives, thus leading to cost cutting and minimal wastage of adhesives. With the emergence of new electronic devices, the market will become highly competitive.
Surface Mounting and Conformal Coating Segments Continue to Dominate
Electronic adhesives find application in the assembly and packaging of electronic devices in various industries including electronics, automotive, medical devices, and others. Electronics adhesives are also used for encapsulation, wire tacking, conformal coating, and surface mounting. The demand for electronics adhesives is expected to increase from the surface mounting and conformal coating application segments. By 2020, the conformal coating and surface mounting segments are expected to collectively account for 60% of the global electronics adhesives market. The surface mounting segment is predicted to exhibit an 11.40% CAGR from the period between 2015 and 2020.
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The global electronics adhesives market is regionally divided into Latin America, Asia Pacific, the Middle East and Africa, North America, and Europe. The rising adoption of electronics adhesives in India, China, Japan, and South Korea is predicted to propel the Asia Pacific market. Going forward, the Asia Pacific electronics adhesives market is expected to exhibit a CAGR of 10.0% from 2015 to 2020 and maintain its dominance in the global market.