The global electronic adhesives market is expected to reach a value of $7.8 billion by 2022, due to their enhanced conductive and thermal properties, as well as growing preference over soldering systems, according to a recent study. Globally, the electronic adhesives industry is predicted to grow at higher compound annual growth rate, providing numerous opportunities for market players to invest for research and development in the market.
Miniaturization of electronics components is one of the key contributing factors for industry growth in the last few years. The latest trend associated with replacement of existing printed circuits boards (PCBs) with multi-chip modules is anticipated to drive market growth as well. In addition, recent advancements in the semiconductor technologies, which are used in industrial and consumer applications, is expected to stimulate market growth due to wider product application scope.
The electronic adhesives market is broadly categorized into three major segments based on the application type such as surface mount devices, potting and encapsulation, and conformal coatings. Surface-mount devices is considered as one of the fastest growing segment in the electronic adhesives industry, with substantial revenue generation in the last few years.
Growing popularity of electronic adhesives in the surface mount devices segment is attributed to the rise in electronic manufacturing sector in the Asia Pacific and European regions. The conformal coatings segment has also witnessed substantial growth owing to the growing requirement for protective circuit boards to provide resistance to corrosion and abrasion.
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