Market Size of Electronics Adhesives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Electronics Adhesives Market Analysis
The Electronics Adhesives market is projected to register a CAGR of 9% during the forecast period (2021-2026).
COVID-19 has a positive impact on the electronics adhesives market. According to JEITA, the global electronics, and IT industries' production has seen an increase of 2% with a year-on-year growth to reach USD 2.9 trillion. The positive growth is due to the greater demand for electronic components and devices to boost contactless interaction and to use remote information technologies. Electronic adhesives are very important components in electronics as they are used in manufacturing and to protect high-performance electronic devices. This positive growth is expected to continue along with the rising demand for electronic products globally.
- Over the medium term, the major factors driving the market are increasing demand for electronics in the Asia-Pacific region and the growing technological advancements in electronics adhesive manufacturing. Asia-Pacific is one of the leading manufacturers of electronics in the world and accounts for more than 70% of the global electronics production, with counties like South Korea, Japan, and China involved in manufacturing of various electrical components and supply to various industries worldwide.
- However, volatility in raw material prices is hindering the growth of the market studied.
- The growing adoption of electric vehicles is expected to provide a major growth opportunity for the market studied.
- Among the application areas, surface mounting is expected to dominate the market studied during the forecast period.
- Asia-Pacific accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
