by Electrically conductive adhesives are used to join two conducting surfaces by providing electrical and mechanical interconnection. They find applications in electronics, automotive, aerospace and other industries where establishing an electrical connection is important.
The global Electrically Conductive Adhesives Market is estimated to be valued at US$ 2403.21 Mn or Million 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 key trends:
One of the key trends in the market is the growing demand for miniaturization of electronic devices. Manufacturers are focusing on developing electrically conductive adhesives with enhanced conductivity to enable miniaturization without compromising device performance. Nanoparticle fillers are being added to improve conductivity. Also, emerging applications such as 5G technology, autonomous vehicles and IoT are fueling the need for compact and high performance interconnecting materials like electrically conductive adhesives.
SWOT Analysis
Strength: Electrically conductive adhesives offer benefits such as lower risk of component failure, better electrical connections, reduced thermal resistance. They provide design flexibility by enabling miniaturization.
Weakness: These adhesives have low thermal conductivity, making them unsuitable for applications requiring efficient heat dissipation. The curing process of conductive adhesives is complex and time-consuming.
Opportunity: Growing demand for compact and miniaturized electronic devices will drive the market. Rapid urbanization in emerging nations is expanding their industrial sectors which utilize electrically conductive adhesives.
Threats: Availability of substitute bonding technologies like soldering can hamper the market. Regulations regarding use of hazardous substances in electronic manufacturing pose challenges.
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 for compact consumer electronics. Miniaturization of devices requires precision joining technologies like electrically conductive adhesives.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its lead, growing at a CAGR of over 6.5% during the forecast period. This can be attributed to presence of electronic manufacturing hubs in countries like China and Taiwan. Rapid industrialization and increasing living standards in the region are also propelling the demand.
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. These players are focusing on new product launches to consolidate their position. For instance, Henkel AG offers new portable dispensing system for conductive adhesives.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
