TAGS: Acrylic Adhesives Epoxy Adhesives Polyurethane Adhesives
Verified Market Research (VMR) anticipates that the electrically conductive adhesives market which was valued at USD 2.30 billion in 2019 and is projected to reach USD 4.20 billion by 2027, growing at a CAGR of 8.4 percent from 2020 to 2027 forecast period.
Demand for electrically conductive adhesives is expected to increase rapidly in the near future owing to the rise in demand for these adhesives in the electronics industry.
Using Advanced Adhesives
The usage of technically advanced electronic devices has been rising of late. This, in turn, is boosting the usage of advanced adhesive materials that offer conductivity and strength, and are compatible with electronic circuits so that the conductivity is maintained when connected to an electronic component.
Rise in usage of electrically conductive adhesives in electronic circuits is anticipated to drive the global electrically conductive adhesives market during the forecast period.
Electrically conductive adhesives are used to join electronic or electrical components. These adhesives not only help complete the circuit but also maintain the conductivity of the circuit. Various types of electrically conductive adhesives include silicon-based adhesives, acrylate-based adhesives, epoxy-based adhesives, and polyurethane based adhesives.
Increasing Usage of Conductive Adhesives in Defense & Aerospace Industries
Generally, these adhesives contain filler material that enhances the characteristic properties of adhesives such as resistance to moisture, low shrinkage properties and strong bonds, among others. A synthetic resin may be used which can be a combination of two substances or a varnish can be used for the proper stickiness of the adhesive. Fillers used in electrically conductive adhesives include graphite, nickel, copper, and silver.
These adhesives are used in electrical interconnect, thermal, and structural bonding to improve the reliability of electronic systems. Electrically conductive adhesives are used in various electronics equipment such as laptop computers, desktops, electronics watch, camcorders, hard-drive suspensions and others.
Electrically conductive adhesives are also capable of blocking the electromagnetic radiations emitted by electronic devices. Hence, these adhesives are used for electromagnetic shielding. Electrically conductive adhesives possess certain superior properties due to which they can be used extensively in PV solar panels, touch panel screens, LED/OLEDs, and various other electronic devices.
The usage of electrically conductive adhesives has been increasing significantly in defense and aerospace industries. These adhesives are employed on a large scale in the automotive industry due to the involvement of sophisticated electronic components susceptible to emission of electromagnetic radiations.
Growth and Development in Bioscience
Electrically conductive adhesives have been an integral part of the electronics industry. Owing to technological development in various industries such as automotive, aerospace, biosciences, there is increased use of electronic components for reliability and precisions in their products, which in turn drives the global electrically conductive adhesives market.
The electrically conductive adhesives market is expected to grow with increasing miniaturization of electronic goods and gadgets in various electronics products in coming years. Growth and development in bioscience may fuel the demand for electrically conductive adhesives in the near future. The tremendous growth in the usage of LCD displays, OLED displays, mobiles, laptops, tablets is also expected to drive the demand for electrically conductive adhesives in the coming years.
Meeting Demands from the Electronics Industry
Demand for electrically conductive adhesives is increasing due to rising demand from the electronics industry. Technological advancements in electronics products have resulted in an increase in the demand for advanced adhesive materials that offer strength, conductivity and compatibility with electronic circuits.
Electrically conductive adhesives are a fairly suitable option to meet this niche demand that drives the market. Besides this, disposal of electronic and electrical wastage creates environmental issues and pollution hazards. There are various regulations laid down by governments in developed countries in order to minimize pollution. Owing to this, use of electrically conductive adhesives is regulated closely; which adversely affects the market and restricts demand. This is a major constraint in the global electrically conductive adhesives market.
Source: Verified Market Research