Acknowledging the exponential accruals, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global conductive glue market is expected to reach to USD 3.2 BN by 2025, registering a double-digit CAGR of 6.8% throughout the estimated period (2021-2025).
Conductive Glue or Conductive adhesive is a glue that can be used for electronics, heat sinks, in the chemical reaction or a photochemical process. Depending upon its usage conductive adhesives are characterized in four types electrically conductive glue, thermally conductive adhesive, chemically curing glue, and UV curing/ curing conductive glue.
The global conductive glue market size has seen a potential growth over the past few years mainly due to the growing electronics industry. Moreover, the increasing demand for conductive glue in the applications such as surface mount devices, wire-tacking, potting and encapsulation, conformal coating has escalated the market on the global platform.
Surface mounting devices’ contribution to the conductive glue market is quite impressive which also makes it a leading market in the application segment. The opportunities for conductive glues are increasing as industries move towards curved screens, flexible displays, in-mold electronics, e-textiles, and displays designed for automotive, all of which have stringent requirements for conductive glues.
On the other hand, factors such as the stringent government regulations and volatility in prices and demand & supply gap of raw materials required for the production of conductive glues are posing challenges to the growth of the market.
Global Conductive Glue Market – Segmentation
For ease of understanding, the market has been segmented into three key dynamics: -
By Type: Electrically, Thermally, andUV Curing among others.
By Application: Surface Mount Devices, Potting &Encapsulation, Wire-tacking, and Conformal Coatingamong others.
By Region: North America, Asia Pacific,Europe, and the Rest-of-the-World.
Global Conductive Glue Market – Regional Analysis
The Asia Pacific region accounting for the world’s largest producer and consumer of the product dominates the global conductive glue market research. Factors that are primarily driving the growth of the market include the rapid industrialization and the improving economy in the region are playing a vital role in the growth of the market, improving the consumers’ purchasing power.
Electrically conductive adhesives witness a huge demand in the APAC owing to the presence of major electronics companies in the region. Also, the growth of the electronics industry primarily in the countries such as Taiwan, China, Korea, and Japan are fostering the growth of the market in the region, increasing the demand electrically conductive adhesives.
China’s contribution to the APAC conductive glue market is very much appreciated. Additionally, countries such as Japan and South Korea has also played a significant role in the growth of the APAC market.
The conductive glue market in the North American region accounts for the second-largest market, globally. Some of the flourishing industries where conductive adhesives are most commonly used such as solar, electronics, and medical device industry increase the size of the market in the region.
The European conductive glue market is emerging as a moderately profitable market, globally. The augmenting demand for these adhesives this region is majorly pulled by major end-use industries such as automotive and electronics among others.
Global Conductive Glue Market – Competitive Analysis
The Well-established market for conductive glue appears to be highly competitive and fragmented owing to a large number of matured players along small players forming a competitive edge. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product & technology launch to gain an edge over their competitors and to maintain their positions in this market.
Major Players:
Key players leading the global conductive glue market include 3M Company, Henkel, Evonik Industries, Mitsui Chemicals, Dow Corning, LG Chemical, Alent PLC, BASF SE, Kyocera Chemical Corp, and Indium Corporation among others.
Industry/ Innovation/ Related News:
March 11, 2019 ---- The Fraunhofer Institute for Solar Energy Systems (ISE Germany) announced the development of a bonding method (adhesives) for the interconnection of silicon solar cells for the industrial production of shingle modules.
The high efficiency of shingle cells modules with their aesthetic appearance is currently witnessing a huge market demand. However, due to mechanical stresses, shingle cells cannot be soldered by conventional methods. Shingle strings can only be produced through the adhesive technology that is reliable and robust.
The new electrically conductive adhesive can be used to bond shingled cells on the industrial stringers. This adhesive which is lead-free can compensate for the thermal expansion of the module glass at changing ambient temperatures. The stringer from teamtechnik Maschinen und Anlagen GmbH applies the electrically conductive adhesive using the screen-printing process and interconnects the cell st rips with high precision.
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