The electronic adhesives market is projected to grow from USD 3.6 billion in 2020 to USD 4.9 billion by 2025, at a CAGR of 6.7% between 2020 and 2025. APAC is the largest consumer of electronic adhesives. The global electronic adhesives market is driven by the rising demand for advanced and sophisticated electronic devices. The use of electronic devices is increasing in developed as well as developing regions, such as North America and APAC.
The key players operating in the market are Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), 3M Company (US), tesa SE (Germany), Parker Hannifin Corporation (US), Panacol-Elosol GmbH (Germany), and Meridian Adhesives Group (US). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch to grow in the market. Investment & expansion was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies enhance their global presence.
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Henkel (Germany) is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes); laundry & home care (household cleaning products, such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products, such as shampoos, toothpastes, hair colorants, and shower products), and corporate. The adhesive technologies segment of the company is a leader in the adhesives market across various end-use industries, globally. The company manufactures electronic adhesives under this segment and markets them under brand Loctite. Henkel has operations in North America, Latin America, APAC, Europe, the Middle East, and Africa. The company focuses on R&D and investment to maintain its leading position in the adhesives business. In October 2019, Henkel broke ground for a new production facility in the high-tech industrial cluster in Songdo, South Korea. With an investment of more than USD 35 Million, the new plant will become a global production hub for the electronics business of Henkel Adhesive Technologies. The plant will commence full production in Q1 of 2022.
H.B. Fuller Company manufactures, markets, and sells adhesives, sealants, paints, and other specialty chemical products across the globe. The company develops adhesives products for manufacturing common consumer goods, including food and beverage packaging, disposable diapers, windows, doors, flooring, appliances, sportswear, and footwear. It provides its industrial and performance adhesives products for applications in various markets, including assembly, packaging, converting, nonwoven & hygiene, performance wood, flooring, textiles, graphic arts, and envelope markets. It manufactures electronic adhesives using different technologies and for various applications. The company also has its operations spread across North America, Latin America, Europe, the Middle East and Africa, and APAC. In March 2019, H.B Fuller announced that it had established H.B. Fuller Japan G.K. This step has been taken to strengthen its engineering adhesives business in Japan. The companys engineering adhesives business serves electronics, transportation, and renewable energy, aerospace, and medical industries.
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