From Yahoo Finance: LONDON, Jan. 16, 2017 /PRNewswire/ — According to a new market report published by Lucintel, the future of the global electronics adhesive market looks good with opportunities in the printed circuit board and semiconductor packaging. Adhesives in the global electronics industry is expected to reach an estimated $3.8 billion by 2021. The global electronics adhesive market is forecast to grow at a CAGR of 4% from 2016 to 2021. The major growth drivers for this market are the growth in the production of printed circuit board, semiconductors, and miniaturization of electronic devices.
In this market, epoxy, silicone, acrylic, and polyurethane adhesives are the major polymer types of electronic adhesives. On the basis of its comprehensive research, Lucintel forecasts that epoxy adhesives are expected to show above-average growth during the forecast period.
Within the global electronics adhesive market, the epoxy adhesive segment is expected to remain as the largest market. Increasing production of printed circuit boards, semiconductors, and miniaturization of electronic devices are expected to drive adhesive demand, which would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to an increase in the production of printed circuit board in China, Taiwan, Japan, and South Korea and the use of electronics adhesives in the assembly and packaging of electronic circuits.
Asia Pacific and Rest of the World are expected to witness above-average growth over the forecast period due to new technological developments and growing demand for printed circuit board from telecommunication, computer/peripherals, consumer, and microelectronic assembly applications.
For business expansion, the report suggests innovation and new product development on fast cure and high temperature resistant adhesives. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the market, includes the new silicone-based electrically conductive adhesives in automotive sensor applications, development of fast cure and high temperature resistant adhesives, and replacement of lead solder with electrically conductive adhesives. Henkel AG & Co KGaA, 3M Company, H.B Fuller, Kyocera Chemical Corporation, and Hitachi Chemical are among the major suppliers of electronics adhesives. There are some companies that are opting for merger & acquisition as strategic initiatives for driving growth.
