The global electronic adhesives market size is set to gain momentum from steady growth in the electronics market. This information is given by Fortune Business Insights™ in an The global electronic adhesives market size is set to gain momentum from steady growth in the electronics market. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Electronic Adhesives Market, 2022-2029.” Additionally, the next generation 5G networks expansion, upgrading demand for consumer goods, and the rising requirement of smartphones and other electronic devices to create a boom in the electronic industry and drive the market in forthcoming years. The demand for smartphones and electronic device is expected to be always on peak which would surge the rise in market share.
COVID-19 Impact-
Sudden Lockdown Disrupted Supply Chain and Resulted in Raw Material Shortage
The sudden lockdown announcement caused severe harm to the markets. Only the essential needs market can be opened and the switchgear market is not included in the essential need criteria which resulted in continuous shutdown of the industry. The constant shut down of industry resulted in demand and supply chain. The raw materials supply was shaken and thus, production had a standstill for a long time.
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Segments-
On the basis of form, the market is split into liquid, paste, and solid.
Based on resin type, the market is segregated into epoxy, silicone, acrylic, PU, and others.
Depending on the application, the market is segmented into computers & servers, communications, consumer electronics, industrial, medical, automotive, and commercial aviation.
Geographically, the market is bifurcated into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa.
Report Coverage-
The report provides in-depth insights of the market in every possible aspect such as opportunities, drivers, restraints, competitors, etc. market challenges which may acquire markets have been depicted in the report. The report also represents market analysis of segments and its sub-segments along with the market trends and growth factors. Factors which may hinder the market in upcoming time have been described. Major growth opportunities and strategies incorporated in the market are elaborated in the report.
Drivers & Restraints-
Consistently Increasing Demand and Adoption of Smartphones to Expand Market Share
The steady growth in the electronics market to fuel the growth and enhance the electronic adhesives market share during the forecasted time. The next generation 5G networks expansion, upgrading demand for consumer goods, and the rising requirement of smartphones and other electronic devices to create a boom in the electronic industry and drive the market in forthcoming years.
Whereas, the fluctuating price of the raw materials impacts the overall market size. The fluctuation in price has become the cause of limiting market growth.
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Regional Insights-
Asia Pacific to Anticipate Maximum Growth Due to Rise in Product Demand in Medical Industry
Asia Pacific to witness the sustainable growth in the market of electronic adhesives. The rising product demand in the medical industry will surge the electronic adhesives market growth. Moreover, Europe is following Asia Pacific in the global market backed by the rising adoption of electronic adhesives from consumer electronics and communications. The U.S. and Canada will push North America to bolster growth. The rising product demand in the automotive and industrial markets to be the major cause of North America’s growth.
Competitive Landscape-
Key Players Striving to Expand Their Product Portfolio to Gain Competitive Advantage
The global market is occupied by large, small, and medium sized organizations that focus on launching the new advanced products to cater market growth of electronic adhesives. Many key companies are focused on collaborating with other organizations to gain better insight of the market along with expansion in the market of electronic adhesives. Born2Bond company introduced a bonding application which would surge the company in expanding its portfolio of products.
Industry Developments-
- June 2019- A new innovative engineering adhesives range, Born2Bond was introduced by Bostik. This product is designed for the bonding applications, ‘by-the-dot’ in selected industries, for example luxury packaging, MRO, automotive, and electronics. This launch will boost the company in expanding its product portfolio.
List of Key Players Present in the Market:
- M Company (UAE)
- Alent PLC (Surrey)
- BASF SE (Germany)
- H.B. Fuller Company (U.S.)
- Henkel AG & Co. KGaAIndium Corporation (Germany)
- LG Chemical Limited (South Korea)
- Mitsui Chemicals (Japan)
- Hitachi Chemicals Company Limited (Japan)
- The Dow Chemicals Company (U.S.)
- Kyocera Chemical Corporation (Japan)
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