Global PUR Adhesive in Electronics Market Share Likely to Grow At a CAGR of 7.53 % By 2033

According to Custom Market Insights (CMI), The Global PUR Adhesive in Electronics Market size was estimated at USD 4.08 Billion in 2021 and is expected to reach USD 4.30 Billion in 2022 and is expected to hit around USD 6.08 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.53% from 2022 to 2030.

PUR adhesive in electronics provides a strong bond or adhesion during electronic assembly. Therefore, these adhesives are ideal components for electrical interconnects and thermal and structural bonding applications. In addition, PUR adhesive in electronics offers the reliability of electronics components. Furthermore, electronic adhesives are mainly used in surface-mounting, assembling substrates on PCBs and semiconductors, potting & encapsulations, and manufacturing & assembly of electronic circuits and products.

Browse the total “PUR Adhesive in Electronics Market Size, Trends, and Insights By Product Type (Thermal Conductive, Electrically Conductive, UV Curing, Others), By Application (Surface-mount devices, Potting & Encapsulation, Conformal Coatings, Others, Industrial), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/pur-adhesive-in-electronics-market/

Market Dynamics.

Drivers.

Robust demand from the electronics industry 

The technological advancement, upgradation, and miniaturization in new product developments spurring electronics components and the OEM manufacturing industry have enhanced the performance of PUR adhesive in electronics during the forecast period. In response to this, the growing demand for touch screens, displays, medical electronics systems, automation of mobile devices, and medical devices are driving the PUR adhesive in the electronics market in the upcoming years. In addition, advancement in electronic components is also likely to act as one of the critical factors for the electronic adhesive market. 

According to data published by Invest India in 2020, electronic Component production rose by $4 bn in 4 years from 2014 to 2018. These factors are expected to create new avenues for the PUR adhesive in electronics. Therefore, these factors are likely to act as one of the key drivers responsible for the growth of the electronic adhesive market. 

Restraints.

Disadvantages associated with PUR adhesive in electronics

However, electronic bond requires low temperature for curing, and it usually takes longer than the traditional soldering method. In addition, the availability of cost-effective alternative substitutes over electronic adhesives is expected to decrease electronic bond demand and production capacities.

Opportunities.

Growing demand for electronic-based devices 

The growth of the PUR adhesive in the electronics market is driven by growing demand for consumer wearable electronic devices, medical equipment, computers, PCB, laptops, LED, and many others that are expected to create the need for electronic adhesive. It is extensively used for potting, encapsulating, sealing, coating, and bonding. 

These factors are key market trends for the PUR adhesive in the electronics market. 

Furthermore, several key companies are actively engaged in manufacturing cost-effective PUR adhesive in electronics, where thermally and electrically based PUR adhesive in electronics are widely employed in the various end-use industries. These factors collectively witnessed high potential growth for PUR adhesive in electronics, thus, offering remunerative opportunities for the market.

Challenges.

Miniaturization of devices 

The growing trend for miniaturization of electronic devices, which in turn leads to the requirement for high-performance adhesives. Furthermore, fluctuations in the prices of raw materials, high costs associated with installment, and innovative equipment may act as challenging factors during the forecast period.  

Report Highlights.

Based on product type, the market is segmented into thermal and electrically conductive. 

The thermal conductive segment dominated the market in 2021 and is expected to grow over the forecast period and be valued at 1.39 billion in 2021. 

 The thermally conductive-based PUR adhesive in electronics is mainly formulated with silicone, epoxy, resins, and acrylic adhesives. With upgradation in the thermal conductive properties, electronic glue finds application in chip-scale packaging, power semiconductors, PCBs, and other electronic devices. Additionally, electronic devices have successfully replaced traditional soldering systems. These factors are expected to boost the market in the upcoming years. 

Based on application, the segment includes surface-mount devices, potting & encapsulation, conformal coatings, industrial, and others. It is expected that the global surface-mount devices application segment to hold a dominant position during 2022 -2031 with a total share of 44.78%.

Growing demand for electric vehicles, consumer demand for electronic gadgets, electrically based household appliances, and government support for the electrical industry have escalated the electronic adhesive market during the forecast period. Additionally, electronic sticky acts as hardening agents mainly used to fix the component on the printed board. 

Regional Snapshots. 

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. 

Asia-Pacific is the dominant region in the PUR adhesive electronics market. This region is also anticipated to maintain its dominance throughout the forecast period, with a total market share of 40.78%. Countries such as the China, India, Japan, South Korea, and others have a good presence in the electrical & electronics industry, which will create the need for PUR adhesive in electronics for surface mounting and encapsulation of semiconductor and PCB components.

Furthermore, India has received FDI inflows of $ 88.94 bn in Computer Software and Hardware from April 2000 to June 2022. Government support for the electronics industry is expected to foster the market in the upcoming years. In addition, countries such as Japan and Taiwan are constantly engaged in expanding their electrical & automation manufacturing output, where different types of PUR adhesive in electronics are widely employed as a protecting material in various electrical & electronic products. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products in the world. These factors are escalating the demand for PUR Adhesive in Electronics in the Asia-Pacific region.

Report Scope

Key Findings: 

• The thermally conductive product type segment is valued at 1.39 billion in 2021 and is expected to maintain a dominant position during the forecast period. 
• Surface-mount devices, application segment to hold dominant position during 2022 -2031 and growing at CAGR 44.78% during the forecast period. 
• Asia-Pacific is the dominant region in the nano-metal oxide market and growing at a CAGR of 40.78%.

Segments covered in the report

By Product Type

• Thermal Conductive
• Electrically Conductive
• UV Curing
• Others

By Application

• Surface-mount devices
• Potting & Encapsulation
• Conformal Coatings
• Others
• Industrial

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America