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The global market for electronics adhesives market is extremely fragmented and competitive in nature with a large number of players operating in it, states a research study by Transparency Market Research. The prominent players in the market are focusing on the enhancement of their market presence in several emerging economies and attract a high volume of consumers throughout the forecast period. In addition, these players are focusing on provided customized solution to consumers in order to gain a competitive advantage in the market. Dymax Corporation, 3M Company, Henkel AG & Co. KGaA, Dow Corning, H.B. Fuller Company, and Evonik Industries AG are some of the prominent players operating in the electronics adhesives market across the globe. An expected rise in the number of players is predicted to strengthen the competitive scenario of the overall market in the next few years.
As per the research report by Transparency Market Research, the global market for electronics adhesives is anticipated to reach a value of US$6.4 bn by the end of 2020. The market is likely to register a 12.10% CAGR between 2015 and 2020.
Easy Availability of Raw Materials to Encourage Electronics Adhesives Market in Asia Pacific
From a geographical point of view, the Asia Pacific market for electronics adhesives is estimated to witness a robust growth in the next few years and account for a massive share of the overall market. The rising demand for electronics adhesives and the increasing contribution from diverse emerging nations, including South Korea, India, and China are some of the key factors that are estimated to accelerate the growth of the Asia Pacific market in the next few years. In addition, the low cost of labor and the easy availability of abundance of raw materials are estimated to accelerate the growth of the market in the next few years. Furthermore, North America is likely to offer promising growth opportunities throughout the forecast period.
Some of the prominent applications of electronics adhesives are conformal coating, encapsulation, wire tracking, and surface mounting. Among these, in the last few years, the surface mounting segment held a massive share of the market and is anticipated to remain in the leading position throughout the forecast period. As per the research study, this segment is projected to reach a value of 1.8 bn by the end of 2020, exhibiting a progressive 11.4% CAGR between 2015 and 2020. The robust growth of this segment can be attributed to the rising demand for PCB-based electronics across diverse industrial sectors, including consumer durables and automotive.
Expansion of Application Base to Augment Global Electronics Adhesives Market
The rising demand for electronics adhesives, especially in several developing nations and the expansion of the application segment are the key factors that are estimated to encourage the growth of the global electronics adhesives market in the next few years. In addition, the growing focus on technological advancements and the development of new products are likely to accelerate the growth of the overall market in the coming years. The key players in the market are focusing on the reducing the production cost, which is expected to boost the demand for electronic adhesives in the next few years.
On the contrary, the fluctuations in the currency exchange and the presence of established electronics market are projected to restrict the growth of the global electronics adhesives market in the coming years. Moreover, stringent rules and regulations imposed by government worldwide related to use of electronics adhesives are predicted to hamper the marker’s growth in the next few years. Nevertheless, a substantial rise in the developmental strategies and the growing demand for innovative products are expected to generate promising and lucrative opportunities for market players in the next few years.