The global electronic adhesives market size accounted for USD 5.20 billion in 2023 and is anticipated to touch around USD 12.40 billion by 2033, growing at a CAGR of 9.07% from 2024 to 2033.
Key Points
- Asia Pacific dominated the electronic adhesives market in 2023 and accounted for 32% revenue share.
- North America is the fastest-growing region in the global market.
- By resin type, the epoxy segment has accounted market share of around 37% in 2023.
- Based on application type, the surface mounting segment dominated the market in 2023.
- Based on end user, the consumer electronics segment dominated the market in 2023 and will continue doing so throughout the forecast period.
The electronic adhesives market refers to the production and sale of adhesives used in the assembly and manufacturing of electronic components and devices. These adhesives are crucial in bonding and encapsulating electronic parts, ensuring functionality, reliability, and protection from external factors such as heat and moisture. The market encompasses various types of adhesives, including epoxy, acrylic, silicone, polyurethane, and cyanoacrylate, among others.
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Growth Factors
The growth of the electronic adhesives market is fueled by several factors, including the expanding electronics industry, the increasing demand for miniaturized electronic devices, and the rising use of advanced adhesive technologies in electronic assembly. Additionally, the surge in demand for electronic devices such as smartphones, tablets, and wearable technology has boosted the need for high-performance adhesives that offer strong bonding and enhanced thermal and electrical properties.
Regional Insights
Regionally, Asia-Pacific dominates the electronic adhesives market, driven by the presence of major electronics manufacturers in countries such as China, Japan, South Korea, and Taiwan. The region's strong manufacturing base and rapid technological advancements contribute to its market leadership. North America and Europe also hold significant shares in the market, with a focus on research and development of innovative adhesive solutions.
Drivers
Key drivers of the electronic adhesives market include the continuous growth of the electronics sector, increasing investment in technology and innovation, and the need for efficient and reliable bonding solutions in complex electronic devices. The push towards eco-friendly and sustainable adhesive options also plays a role in shaping the market.
Opportunities
Opportunities in the electronic adhesives market lie in the development of new adhesive formulations that can meet the evolving demands of advanced electronic devices, such as 5G technology and the Internet of Things (IoT). Furthermore, emerging markets and industries, such as electric vehicles and renewable energy, offer potential growth avenues for electronic adhesives.
Challenges
Challenges in the electronic adhesives market include the need to comply with strict regulatory standards for safety and environmental impact. Additionally, manufacturers face pressure to innovate and produce adhesives that can address the specific requirements of emerging electronic technologies while remaining cost-effective.
Recent Developments
- In May 2023, Arkema acquired Polytec PT, a German company that specializes in manufacturing adhesives for batteries and electronic products. The company has sales worth 15 Euros and has its main production site in Karlsbad, Germany. Arkema assures us that it will strengthen the company further by serving the best in the ever-growing batteries and electronics market.
- In February 2024, Intertronics, a company specializing in adhesive manufacturing, launched a structural adhesive selection guide. It will help the manufacturers find the right optimal adhesive for their application in order to get a strong and highly effective bond. In this guide, one can find a detailed overview of the chemistries of five structural adhesives: Epoxy, polyurethane, cyanoacrylate, UV curing, and methyl methacrylate (MMA). The guide has been designed in a way that will benefit a wide range of industries, including automotive, aerospace, electronics, construction, etc.
Electronic Adhesives Market Companies
- Arkema
- 3M
- Ashland
- AVERY DENNISON CORPORATION
- BASF SE
- Beardow Adams
- CHEMENCE
- Covestro AG
- Dow
- Fuller Company
- Henkel AG & Co. KGaA
- Huntsman International LLC
- Illinois Tool Works Inc. (ITW)
- MAPEI S.P.A.
- Permabond LLC
- Pidilite Industries Ltd.
- Sika AG
Segments Covered in the Report
By Resin Type
- Epoxy
- Acrylics
- Polyurethane
- Silicone
- Others
By Form
- Liquid
- Paste
- Solid
By Application
- Conformal Coatings
- Surface Mounting
- Encapsulation
- Wire Tacking
- Others
By End-user
- Consumer Electronics
- IT Hardware
- Automotive
- Medical
- Aerospace & Defense
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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