According to TechSci Research report, “Electrically Conductive Adhesives Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Electrically Conductive Adhesives Market stood at USD2.97 billion in 2022 and is anticipated to grow with a CAGR of 6.89% in the forecast period, 2023-2028. The initiatives taken by government based on electrically conductive adhesives has led to favorable market conditions for the Global Electrically Conductive Adhesives Market. Several factors contribute to the growth of various electrically conductive adhesives products.
One significant way governments have influenced the ECAs market is through initiatives promoting renewable energy. In December 2022, for instance, the German parliament adopted a tax relief package for rooftop photovoltaic (PV) installations. This move is likely to boost the demand for ECAs, which are used extensively in solar panels. By providing tax incentives, the government aims to encourage more individuals and businesses to invest in renewable energy sources, such as solar power. This not only helps reduce carbon emissions but also contributes to the growth of the ECAs market, as the demand for solar panels increases.
Government-supported research projects also play a crucial role in advancing the ECAs market. For example, the U.S. Environmental Protection Agency (EPA) funded a project aiming to develop a novel flexible ECA for electronic interconnect applications requiring high flexibility. Through this research initiative, scientists and engineers are working towards creating ECAs that can withstand bending and stretching without compromising their conductive properties. This innovation opens up new possibilities for electronic devices that require flexibility, such as wearable technology and bendable displays. By investing in research and development, governments not only enhance the capabilities of ECAs but also raise awareness about their potential uses, thereby driving market growth and fostering technological advancements in various industries.
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In consumer goods industries, electrically conductive adhesives play a vital role in various electronic products such as computers, light-emitting diodes (LEDs), and similar devices. These adhesives ensure that conductivity is maintained when electronic components are connected, ensuring optimal performance.
The market growth of electrically conductive adhesives is further accelerated by the increasing production of computers and display devices. According to the Japan Electronics and Information Technology Industries Association, the global production of computers was valued at US$446.3 billion in 2019 and increased to US$467.2 billion in 2020, representing a significant 5% growth. Similarly, the production of display devices reached US$127.7 billion in 2020 and is projected to reach US$134.3 billion in 2021, demonstrating a steady 5% increase.
With the consumer goods industry experiencing rapid development, the demand for electrically conductive adhesives is anticipated to surge, driving the growth of the Electrically Conductive Adhesives Market even further.
The Global Electrically Conductive Adhesives Market is segmented into chemistry, application, regional distribution, and company
Based on its chemistry, the epoxy segment held the largest share in the market. Electrically conductive epoxy adhesives play a vital role in connecting various components within vehicle radar and camera systems. These adhesives, commonly used in the assembly of ADAS sensors, offer a wide range of applications in electronic assembly, including Radar, LiDAR, Camera, ADAS data modules, and ECUs. By providing reliable electrical conduction, these adhesives ensure seamless integration and optimal performance of these critical automotive systems.
Based on region, Asia Pacific segment is expected to grow during the forecast period.
China is rapidly emerging as one of the largest markets for electrically conductive adhesive in the Asia Pacific region. With its growing consumption and production, China now accounts for slightly more than half of the total market share. This significant growth can be attributed to various factors, including the increasing urbanization and connectivity in the country. Moreover, the utilization of state-of-the-art technology in the production of safety and infotainment systems has further propelled the demand for printed circuit boards. As China continues to advance in these areas, the market for electrically conductive adhesive is expected to witness continuous expansion in the foreseeable future.
Major companies operating in Global Electrically Conductive Adhesives Market are:
- 3M Company
- Aremco LLC
- Creative Materials Inc.
- The Dow Chemical Company
- HB Fuller Company
- Henkel AG & Co. KGaA
- HITEK Electronic Materials Ltd
- Master Bond Inc.
- Panacol-Elosol GmbH
- Parker Hannifin Corp.
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“Growing application of electrically conductive adhesives in various end user industries are key drivers of the electrically conductive adhesives market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of electrically conductive adhesives with every passing year are anticipated to register an impressive growth to Global Electrically Conductive Adhesives Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Electrically Conductive Adhesives Market By Chemistry (Epoxy, Silicone, Acrylic, Polyurethane, Others), By Application (Automotive, Consumer Electronics, Aerospace, Biosciences, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Electrically Conductive Adhesives Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Electrically Conductive Adhesives Market.
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