by The Electrically Conductive Adhesives Market is estimated to be valued at US$ 2403.21 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Electrically conductive adhesives are specialized adhesives that are designed to bond electrical connections in devices while also facilitating the flow of electricity between components. They find wide usage in circuit boards, semiconductor devices, LED assemblies and screens. Emerging trends like miniature circuit design, touchscreen technology and wearable devices have surged the demand for conductive adhesives as they provide flexibility over rigid metallic interconnects and solders.
Market Dynamics:
Advancing innovations in microelectronics and wearables is a key growth driver for the market. Miniaturization requires highly specialized adhesives that can function as reliable interconnects while occupying very small footprints. Growing usage of touchscreens and flexible printed circuit boards also necessitates electrically conductive adhesives. Furthermore, the capability of these adhesives to replace heavier solders and wires in automotive components and consumer electronics has boosted their usage. The miniaturization trend and rapid pace of innovation in the electronics industry is estimated to propel market growth over the forecast period.
Segment Analysis
The electrically conductive adhesives market is dominated by the automotive sub-segment. This is because electrically conductive adhesives are extensively utilized in automotive electronic components such as sensors, actuators, lighting modules and others owing to their properties like vibration resistance, stress absorption and electrical conductivity.
PEST Analysis
Political: Regulations regarding the use of lead and other harmful substances in adhesives will drive the demand for green and sustainable electrically conductive adhesives.
Economic: Growth of end-use industries like automotive, consumer electronics will fuel the market expansion.
Social: Rising environmental awareness and demand for recyclable products contribute to the market growth.
Technological: Developments in nano-filler technology and capabilities to form strong molecular bonds have increased the application scope of electrically conductive adhesives.
Key Takeaways
The Global Electrically Conductive Adhesives Market Growth is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing demand from automotive and electronics industries.
The Asia Pacific region is expected to dominate the global electrically conductive adhesives market during the forecast period. The automotive and electronics manufacturing hub in China and other Asia Pacific countries is driving the growth of the market in this region.
Key players operating in the electrically conductive adhesives market are 3M, Aremco, Creative Materials Inc., Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, HITEK Electronic Materials Ltd, Master Bond Inc., MG Chemicals, Panacol-Elosol GmbH, Parker Hannifin Corp., Permabond LLC, and Bostik. For instance, 3M offers a wide range of conductive adhesives for diverse applications like bonding, shielding, and thermal management
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
