A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global electronic adhesives market. Presenting exclusive insights into the market from 2019 to 2029, the report projects that the market will witness notable growth during the forecast period. Electronic adhesives are primarily used in the manufacturing and assembly of electronic circuits and products. The growth of the market is primarily driven by increasing demand for electrical & electronic devices, burgeoning sales of consumer electronics, and increasing production capabilities. Furthermore, increased investments in research & developments (R&D) activities in the electrical electronics sector is propelling the demand for electronic devices. Since R&D activities and the subsequent product innovation lead to the development of products on a wide-scale, electronic adhesives are becoming popular among the end-use industries. The adoption and popularity are anticipated to translate into revenue opportunities for the electronic adhesives market.
Affordability and Efficiency Fortify Adoption in Electrical & Electronics Industry
Over the years, the electric & electronics sector has witnessed a significant transformation in the production and technology front. On this premise, the adoption of electronic adhesives has significantly increased and they have been gradually replacing conventional adhesives. Electronic adhesives are backed by demand from the electricals and electronics market among both the developed and developing economies due to low operational and labor costs for manufacturing. Furthermore, the rising popularity of electronic adhesives in medical devices and wearables is fuelling the growth of the market. The acrylic electrical & electronic adhesives are gaining high traction among industries, owing to their ability to lower the total cost and time taken to produce the equipment. Such electronic adhesives have been replacing conventional adhesives and various fastening systems in the medical sector as well. Additionally, an increasing number of applications in printed circuit boards (PCBs) such as wire tracking, potting & encapsulation of components, conformal coatings of circuit boards, and bonding of surface mount components, are propelling the demand for electronic adhesives. The high usage of these adhesives in computers, laptops, and smartphones for bonding purposes will continue to channel revenue through the forecast period.
Asia-pacific Maintains Hegemony Backed by Blooming Automotive and Electronics Industries
Asia-Pacific dominates the regional landscape of the electronic adhesives market, on the back of flourishing automotive and electronics industries. Besides, the applications such as semiconductor & circuit assembly, and die-attachment in industries will continue to bolster the growth of the region. To cater to the high demand, players in the electronic adhesives market are focusing on developing cost-effective driver-assistance systems (ADAS), specifically for medium-sized and compact car segments. Such industry-specific offerings will continue to contribute to the growth of the electronic adhesives market.