SEATTLE, April 23, 2020 (GLOBE NEWSWIRE) -- Electronics adhesives are produced by using acrylic, polyurethane, epoxy, and silicone to obtain stable and secure bonding for metals, plastic, glass, and other materials. Electronics adhesives have excellent resistance to temperature, durability, enhance the performance characteristics, and are highly reliable for high-end application across various end-use industries. Potting & encapsulation of components, conformal coatings of circuit boards, and wire tracking are some of the major application of electronics adhesives.

The global electronics adhesives market is projected to reach around US$ 14.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 12.1% during the forecast period (2020-2027).

Drivers

Growing demand for electrical & electronic products across developed and developing countries is predominantly fueling the market growth of electronics adhesives. The low operating cost of the manufacturing of electronic adhesives has tremendously changed the electronic sector. Moreover, various innovations and increasing sales of electronic devices are further expected to augment the market growth of the electronics adhesives.

The growing popularity of medical and wearable devices is expected to accelerate the market growth of electronic adhesives. The growing use of electronic adhesives in various medical devices is raising demand for electronic adhesives. Moreover, the growing demand for electronic adhesives from printed circuits boards is further anticipated to foster market growth over the forecast period.

Market Opportunities

Rising replacing of fastener with adhesives across various industrial sectors as they are effective and offer durability is expected to propel the market growth of electronic adhesives. Moreover growing popularity of thermally conductive adhesives across heat-related challenges applications is expected to fuel the market growth.

Growing demand for UV curing products across high-performance electrical &electronic devices is expected to accelerate the market growth over the forecast period. High-performance electronic devices require better insulation and thermal properties which is likely to raise the demand for UV curing product thus augmenting the market growth of electronic adhesives.

Market Restraints

The presence of the well-established electronic industry in mature markets such as North America and Europe has resulted in the saturation of the industry. This condition is expected to remain the same in the coming years as well this is expected to hinder the market growth of electronic adhesives in mature markets.

Key Takeaways:

Geographically, Asia-Pacific dominated the global electronic adhesives market in 2019, reporting 62% market share in terms of revenue, followed by Europe and North America, respectively. This growth is majorly driven due to increasing demand for electronic adhesives in various applications such as die-attachment applications and semiconductor & circuit assembly applications.

Among product type, electrically conductive dominated the global electronics adhesives market in 2019 with a 37% of market share in terms of revenue, followed by ultraviolet curing and thermally conductive, respectively. The demand for electrically conductive adhesives is mainly driven due to ability to offer low curing temperatures and low thermal stresses.

Market Trends

Rising demand for epoxy adhesives across semiconductors &IC components is gaining traction in the market and this is expected to fuel the market growth. Growing demand for IC packaging, encapsulants, substrate bonding are some of the key applications fueling demand for epoxy adhesives and this is expected to augment the market growth of electronic adhesives.

Increasing demand for environmentally friendly electronic adhesives is expected to propel the market growth of electronic adhesive. For instance, in December 2018, Covestro launched sustainability-inspired, eco-friendly innovative coating and adhesive solutions for a wide range of industries including automotive, construction, energy, furniture, and sports &leisure.