LONDON--(BUSINESS WIRE)--The global electronic adhesives market is expected to post a CAGR of more than 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing demand for safety features, comfort, stability, and high performance has increased the use of electronic components in vehicles. Automobile manufacturers are increasingly incorporating new safety features such as anti-lock braking systems (ABS), sensors, detectors, navigation systems, battery monitoring systems, infotainment systems, and climate control devices among others in their vehicles. Moreover, the rising demand for EVs has further increased the adoption of electronic components in vehicles. The increasing penetration of electronic components in modern vehicles has increased the demand for electronic adhesives in the automobile industry. This is one of the key factors which is expected to drive the growth of the global electronic adhesives market during the forecast period.
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As per Technavio, the increasing number of product launches will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Electronic Adhesives Market: Product Launches
Vendors in the market are focusing on expanding their product portfolios with successive product launches. This is helping them in increasing their revenue flow and expanding the consumer base. The introduction of new products is also providing vendors an advantage over their competitors. Several vendors are developing next-generation materials with electromagnetic capabilities that can be used in new and emerging end-user applications. Such innovative product launches by vendors are expected to boost the growth of the global electronic adhesives market during the forecast period.
“Apart from product launches, production expansions and increasing strategic acquisitions and partnerships are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Electronic Adhesives Market: Segmentation Analysis
This market report segments the global electronic adhesives market by material (silicone adhesives, polyurethane adhesives, acrylic adhesives, epoxy adhesives, and others), product (electrically conductive adhesives, thermally conductive adhesives, UV curing adhesives, and others), application (surface mounting, conformal coatings, wire tacking, and potting and encapsulation), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This can be attributed to rapid industrialization and urbanization in APAC countries.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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