Electronic Adhesives Market worth $6.1 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 27, 2022 /PRNewswire/ -- Electronic Adhesives Market size is projected to grow from USD 4.5 billion in 2022 to USD 6.1 billion in 2027, at a CAGR of 6.1%, according to a new report by MarketsandMarkets™. The use of electronic adhesives is increasing in various end-use industries, such as computers, communications, consumer electronics, industrial, medical, transportation, commercial aviation, and defense industries.
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Medical is the fastest-growing end-use industry segment of the overall electronic adhesives market.
Medical is the fastest-growing end-use industry in the electronic adhesives market. In the area of electronic parts for medical devices, there is a wide range of polymeric materials available. They are used as substrates, attachments, interconnections, and for encapsulation or protection. In recent years, the use of adhesives and encapsulants in medical electronics and implantable devices has grown considerably. This is because of the availability of a wide range of materials that offer different properties, such as better adhesion, suitability for automated dispensing, improved durability, and rapid curing. Typical examples include the use of epoxies in ultrasound pacemakers and catheters and light-curing adhesives in medical electronic packages.
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Asia Pacific is the largest electronic adhesives market during the forecast period.
Asia Pacific is the largest electroic 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.
Key Market Players
The key players operating in the market are Henkel AG (Germany), The 3M Company (US), Arkema SA (France), and Parker Hannifin Corporation (US).
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