- Polyurethane material accounts for nearly 50 per cent of the global electronics adhesives market share.
- India has emerged as one of the most lucrative markets
The global electronics adhesives market is anticipated to exhibit a CAGR of 8.6 per cent during the forecast period 2021-2031 in the comparison CAGR of 7.5 per cent registered between 2016 and 2020 as per a report by Future Market Insights. The market for electronic adhesives is expected to surpass a valuation of $ 4.9 billion by the year 2031.
This is due to growth of the automobile sector is expected to fuel the demand for electronics adhesives. It is also due to rising need for anti-theft systems is creating growth opportunities for the market and ncreasing demand for encapsulation processes in the telecommunication and mobile industry will bolster the market growth. Surging adoption of laptops, smartphones, and tablets is spurring the sales of electronics adhesives.
Polyurethane material accounts for nearly 50 per cent of the global electronics adhesives market share. Driven by the characteristics such as a longer life cycle and thermal resistance, polyurethane is predicted to be the fastest-growing segment in terms of material, registering a CAGR of 8.5 per cent over the course of the assessment period.
It added, “Leading market players are launching innovations in electronic adhesives to cater to industry-specific applications. For instance, DELO launched a new pressure-sensitive electronic adhesives to address the increasing demand for applications in smartphone speaker surfaces and display frames for low fill factor. The introduction of these innovative products is expected to drive the market growth.”
India has emerged as one of the most lucrative markets
Asia-pacific is leading the global electronics adhesives market. Expansion of automobile sector and consumer electronics sectors is expected to bolster scope for application in the region.
China is dominating the electronics adhesives market with more than half of the total market share in Asia Pacific and is estimated to reach the valuation of $ 854.3 million through 2021. India has emerged as one of the most lucrative markets. The country is anticipated to reach a valuation of around $ 537.5 million by the end of the forecast period. In North America, the U.S. is expected to hold over 80 per cent of the market share, owing to increasing investment in R&D for advanced technologies.
Driven by the strong presence of automotive suppliers and manufacturers, Germany is projected to register growth at a CAGR of 7.2 per cent through 2031. Due to the high demand for electronic circuits and devices, the automotive sector is dominating the segment with around 18.8% of the market share.