Electronics Adhesives Market to Record an Exponential CAGR by 2024
Vendors
dealing in electronics adhesives have been offering customized
solutions based on client requirements, a trend that has enabled most
of them to establish a strong foothold in the market. Transparency
Market Research (TMR) finds that in addition to this prominent trend,
backward integration in order to maintain easy and quality supply of
raw material will emerge as a new trend in the electronics adhesives
market.
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“An
increasing number of players have been focusing on expansion
activities in several Asian countries such as China, India, and South
Korea,” a TMR analyst observes. “The growing demand for
electronics adhesives, the availability of an established customer
base and state-of-the-art manufacturing facilities, the increased
production of consumer electronics, and the strong presence of local
players present immense opportunities for companies in the
electronics adhesives market.”
Making
the most of these opportunities are several players, the most
prominent one being 3M Company in terms of revenue. Although the
company has a predominant presence in North America, it has been
investing heavily in Asia with the support of local vendors. The
promotion of its brands and enhancement of its production capacity
are the prime reasons behind 3M’s ongoing trend.
In
keeping with this trend, TMR has observed that developing economies
such as China and India are presently characterized by the rise of a
new class of consumers. “The surging disposable income of this new
class has resulted in the growing demand for automotive and consumer
appliances. This, in turn, drives the global demand for electronics
adhesives,” states the author of the study.
However,
strict regulations against volatile organic compound (VOC) emissions
from adhesive films are major concern in China. Despite being a
leading producer of electronics adhesives, initiatives taken by the
Chinese government to curb VOC emissions threaten to dampen the
growth of the electronics adhesives in China. Be that as it may, TMR
predicts that the massive production bases for and consumption of
semiconductors, smartphones, and tablets is sure to override the
negative impact of these regulatory restrictions in the coming years.
Another
factor boosting the electronics adhesives market is a surge in R&D
activities. “The dynamic nature of the industry and constant
changes in consumer expectations have compelled players to step up
efforts in the development of advanced electronics adhesives that are
in line with what the consumers want in terms of features,
technology, and performance,” the TMR analyst reveals.
The
global electronics adhesives market volume is forecast to rise 1.8
times from 2013 to 2020, TMR finds, with an annual growth of over 8%.
The worldwide demand for electronics adhesives is projected to
surpass 1.9 mn tons by 2020. In terms of revenue, the global market
is anticipated to witness a twofold growth during the forecast
period, with the escalating shipment of tablets and smartphones
playing a key role in the revenue generation.
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This
review is based on the findings of a TMR report titled “Electronics
Adhesives: Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2015-2020.”
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