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Home Press Releases

PUR Adhesives in Electronics Market Size to Grow at a CAGR of 5.5% During the Forecast Period 2021-2026

admin by admin
January 30, 2022
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(EMAILWIRE.COM, January 22, 2022 ) PUR Adhesives in Electronics Market size is expected to grow at a CAGR of 5.5% during the forecast period from 2021-2026. The growing electrical & electronics industry is one of the significant factors driving the PUR adhesives in the electronics market. The recent developments in the field of electronics and the introduction of new electronic devices in the market like 5G enabled smartphones, smart speakers, chromecast and others is driving the demand for PUR adhesives in electronics market. Electrically conductive adhesive and thermally conductive adhesives are widely used in electronic devices on components that needs to be held in place to pass electric current. Furthermore, UV curing adhesive is also used for circuit protection and electronic assembly in electronics. This is highly driving the PUR adhesives in electronics market.

COVID-19 impact

Amid the Covid-19 pandemic, the PUR adhesives in electronics market were affected in various ways. There were various legal restrictions across the globe that majorly affected the demand and growth of the PUR adhesives in electronics market. The production and sales activities were majorly disturbed which slowed down the growth of the PUR adhesives in electronics market. However, the PUR adhesives in electronics market witnessed a steady growth by the end of the year 2020 and is estimated to grow further and cover the industry’s loss towards the end of the year 2022.

PUR Adhesives in Electronics Market Segment Analysis – By Product Type

Electrically conductive adhesive segment held the largest share of more than 40% in the PUR Adhesives in Electronics market in the year 2020. Electrically conductive adhesives are used widely in electronics devices in places of conductivity. Electrically conductive adhesive is used in the electrical industry on components that requires electrical current to be passed between the components. Electrically conductive adhesives are being used as an alternative for soldering and joining of two electrical components owing to its various benefits, such as high performance, adhesion and conductivity. This is majorly driving the electrically conductive adhesive segment in the PUR Adhesives in Electronics market.

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PUR Adhesives in Electronics Market Segment Analysis – By Application

Surface mounting segment held the largest share in the PUR Adhesives in Electronics market in the year 2020 growing at a CAGR of 5.7% during the forecast period. Surface mounting is the process in which electrical components are mounted directly on the surface of a printed circuit board (PCB) with the use of electrically conductive adhesive/thermally conductive adhesive. According to IPC International Inc. (a global trade association), the North American printed circuit boards shipments increased by 9.1% during May 2021 compared to the same period last year and the printed circuit board bookings in May increased by 24.1% year-on-year increase. This is driving the surface mounting segment of the PUR adhesives in electronics market.

PUR Adhesives in Electronics Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of 42% in the PUR adhesives in electronics market in the year 2020. The increase in the sales and demand for electronic devices in the countries like China, Japan, South Korea and India is driving the PUR adhesives in electronics market. According to the International Trade Center, China is the largest exporter of printed circuits at a value of US$15.1 billion during the year 2020, an increase of 3.08% from the previous year export of US$14.65 billion. The exports of printed circuit board have increased even during the Covid-19 pandemic. South Korea stood as the 4th largest exporter with value of US$5.03 billion in the year 2020, an increase of 4.86% from US$4.79 in the year 2019. This is hugely driving the PUR adhesives in electronics market in the region.

PUR Adhesives in Electronics Market Drivers

Innovation in the electronics industry

There has been a lot of innovation and creativity happening in the electrical and electronic industry in the past decade. There has been an introduction of a lot of creative electronic devices across the globe. This is one of the important factors driving the PUR adhesives in the electronics market. In recent past, there has been an introduction of various electronic devices like 5G enabled smartphones, smart speakers, virtual reality and many others. The 5Ge enabled smartphones are becoming a huge hit among the customers in the UK and USA market and is witnessing huge demand from the Asian market as well. The production of these electronic devices requires use of printed circuit board and semi-conductors which is majorly driving the PUR adhesives in electronics market.

Growth in the semiconductors market

The increase in the production of semiconductors owing to the increasing demand for electronic devices. Semiconductors use electrically conductive adhesive and thermally conductive adhesive to bond the components on the board. This is increasing the demand for electrically conductive adhesives in the semiconductors market. According to Semiconductor Industry Association, the global sales of semi-conductors increased at a 6.5% to US$439 billion in the year 2020 from the year 2019. This is further increasing the demand for PUR adhesives in electronics market.

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PUR Adhesives in Electronics Market Challenges

PUR adhesives cannot sustain in extreme conditions

As much as PUR adhesives have advantages, which is driving the demand for PUR adhesives in electronics market, PUR adhesives also has various disadvantages which is hampering the growth of the PUR adhesives in electronics market. PUR adhesives are basically hot melt adhesives, and hot melt adhesives cannot hold well under extreme conditions. PUR adhesives tend to melt in hot temperatures. This may cause leak into the parts of the electronic devices. This leak may also hamper the performance of the electronic device. Therefore, PUR adhesives cannot be used in many parts of electronics. This is one of the major challenges hampering the growth of the PUR adhesives in electronics market.

PUR Adhesives in Electronics Market Industry Outlook

New product launches, expansion, collaborations, partnerships, investments, acquisitions and mergers are some of the key strategies adopted by players in the PUR Adhesives in Electronics Market. Major players in the PUR Adhesives in Electronics Market are 3M, Arkema Group, H.B Fuller, Sika Ag, Henkel AG & Co. KGaA, DowDuPont Inc, Ashland Global Holdings Inc., Huntsman International LLC, Covestro AG and BASF SE among others.

Acquisitions/Technology Launches

In August 2020, Henkel opened a new facility in North Carolina, USA for production of UV cured adhesives.

In February 2020 Henkel Adhesives Technology opened a new state-of-the-art facility in Pune, India. This was done to serve the growing demand of Indian industries for high-performance solutions in adhesives.

Key Takeaways

Asia-Pacific market held the largest share in the PUR Adhesives in Electronics market owing to the increase in the production of electronic devices and innovation in the electronics field.

The increase in demand for electronic devices across the young and middle-class population across the globe is one of the major factors driving the PUR adhesives in electronics market.

Innovation in the electronics industry is also majorly driving the PUR Adhesives in Electronics market

Amid the Covid-19 pandemic, the PUR Adhesives in Electronics market went through a lot of setbacks which lead to huge losses. It is however set to improve in the coming months of 2021.

Related Reports

A.Industrial Adhesives Market

https://www.industryarc.com/Report/16490/industrial-adhesives-market.html

B.Silicone Adhesives Market

https://www.industryarc.com/Report/18765/silicone-adhesives-market

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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