Electrically conductive adhesives are adhesives which conduct electricity and are used to bond conductors or attach electronic components. These adhesives provide superior electrical conductivity and heat dissipation compared to traditional soldering methods.
The global Electrically Conductive Adhesives Market is estimated to be valued at US$ 1.41 billion in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rise in electric vehicles is a key trend driving the growth of the electrically conductive adhesives market. Electrically conductive adhesives are extensively used in electric vehicles for battery mounting applications, busbar connections, and charging port connections due to their ability to effectively dissipate heat from sensitive electronic components. They aid in minimizing energy loss and ensure efficient power distribution within electric vehicles. With stringent emission norms forcing automakers to shift towards electric mobility, global electric vehicle sales are expected to exhibit substantial growth over the coming years. This is expected to generate significant demand for electrically conductive adhesives from the automotive industry.
Strength: Electrically conductive adhesives offer reliable and electrically robust bonding without any additional components or manual assembly. They provide vibration resistance and stress relief compared to soldering.
Weakness: These adhesives require specialized application equipment and processes. Testing the conductivity and integrity of joints can be challenging.
Opportunity: Growth of electronics industry and miniaturization trends are increasing the need for adhesives that provide electrical conductivity along with mechanical bonding. Various industries like automotive, consumer electronics are expanding the use of these adhesives.
Threats: Availability of alternative joining technologies like soldering can limit the demand. Fluctuations in raw material prices impact the cost of electrically conductive adhesives.
Global Electrically Conductive Adhesives Market Size is expected to witness high growth over the forecast period of 2024 to 2030.
The Asia Pacific region currently dominates the market and is projected to witness the fastest growth during the forecast period. Expansion of electronics industries, presence of key players and growing electric vehicles market in China, Japan, South Korea are major factors responsible for its large share.
Key players operating in the electrically conductive adhesives market are Henkel, H.B. Fuller, 3M, Panacol-Elosol, DowDuPont, and Aremco Products. These companies are focusing on new product launches to meet industry requirements. For example, Henkel offers products under the Bondline brand for various applications like printed circuit boards.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it