Electronic Adhesives Market Set to Secure $6.1 billion Valuation by 2027
The global electronic adhesives market is projected to grow from USD 4.5 billion in 2022 and is projected to reach USD 6.1 billion by 2027, at a CAGR of 6.1%, between 2022 and 2027 period. The increasing number of patents filed for electronic adhesive products & applications by global players, growing manufacturing industries, and continuous expansion and merger & acquisition activities undertaken by companies are the key driving factors for the market.
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The key players following the strategies between 2017 to 2022 are Henkel AG (Germany), The 3M Company (US), Arkema SA (France), and Parker Hannifin Corporation (US). The companies are majorly following new product launch as the strategy to grow and expand the market.
The Henkel AG (Germany) is primarily engaged in the manufacturing and commercialization of home care, laundry, cosmetics, and adhesive products globally. The company operates through four business segments: laundry & home care, beauty care, adhesives technologies, and corporate. The company manufactures electronic adhesives under adhesives technologies business segment. Henkel has been focusing on the requirements of consumers as its key strategic choice. Its efforts are focused on increasing its presence in various emerging markets and categories. In May 2022, Henkel announced the opening of its Application Center in Santa Clara, CA, designed to support product development for the companys high-tech customers in the Silicon Valley region. Equipped as a state-of-the-art facility, the Application Center will help expedite proof-of-concept initiatives for electronics advances.
Arkema SA (France) gives innovative solutions for lightweight and design materials, bio-sourced materials, new energies, water management, solutions for electronics, and home insulation. The company has increased its presence in emerging markets by targeting acquisitions. It has three business segments: advanced materials, adhesive solutions, and coating solutions. Bostik SA (US), which is one of the major adhesives and sealants companies, was acquired by Arkema in February 2015. Adhesives manufactured under the Bostik brand name are included under the high performance materials segment of Arkema. In February 2022, Arkema is expanding its offer of engineering adhesives with the planned acquisition of Shanghai Zhiguan Polymer Materials (PMP), which specializes in hot-melt adhesives for the consumer electronics market. This project is in line with Bostik’s strategy to build a strong position in the attractive engineering adhesives market and to accelerate its development in the fast-growing electronics market, especially in Asia.
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Asia Pacific is the largest electronic adhesives market during the forecast period.
Asia Pacific is the largest electronic adhesives market globally. An increase in the consumption of electronic adhesives, mainly in the consumer electronics and transportation industries, has been observed in the region. With the introduction of new disruptive technologies, such as 5G, the Internet of Things (IoT), and AI, the demand for more complex PCBs has been growing in the region. The demand for premium products is increasing in the region with the growth in the middle-class population. Government initiatives are also helping in the growth of the electronics, industrial, and automotive sectors. These factors will play an important role in driving the electronic adhesives market.
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