PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555784
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555784
PUR Adhesives in Electronics Market size was valued at USD 3,893.21 million in 2023, expanding at a CAGR of 6.10% from 2024 to 2032.
The PUR Adhesives in Electronics Market is expanding as polyurethanes (PUR) are increasingly used for their excellent bonding properties and durability in electronic applications. PUR adhesives provide robust adhesion for components like circuit boards, connectors, and displays, ensuring high performance and reliability in electronics. The market benefits from the growing demand for advanced electronic devices and the need for high-quality assembly materials. For instance, the global electronics industry, valued at over USD 2 trillion, is pushing for better adhesive solutions to meet stringent performance standards. However, challenges such as high costs and the complexity of application processes may hinder market growth. Opportunities exist in the development of new PUR formulations that offer enhanced properties like faster curing times and improved environmental resistance. Recent innovations, such as the introduction of low-viscosity PUR adhesives for miniaturized electronics, exemplify the market's dynamic response to evolving industry needs.
PUR Adhesives in Electronics Market- Market Dynamics
Growing Demand for Advanced Electronic Devices Boosts PUR Adhesives Market
The rising demand for advanced electronic devices is significantly driving the PUR adhesives market. As electronics become more sophisticated, including smaller and more intricate devices, the need for reliable and high-performance adhesives grows. The International Data Corporation (IDC) reports that global electronics shipments are projected to reach over 2.5 billion units annually, driving the requirement for advanced bonding solutions. For example, recent developments in smartphones and wearables, which increasingly incorporate flexible and miniature components, are pushing for high-quality PUR adhesives to ensure durability and functionality. Innovations such as low-temperature curing PUR adhesives are being introduced to address the specific needs of these advanced devices. Additionally, the push towards miniaturization and enhanced performance in consumer electronics underscores the increasing reliance on PUR adhesives to meet the technical demands of modern electronic manufacturing.
PUR Adhesives in Electronics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.10% over the forecast period (2024-2032)
Based on Type segmentation, Two-Component PUR Adhesives were predicted to show maximum market share in the year 2023
Based on Curing Process segmentation, Moisture Curing was the leading type in 2023
On the basis of region, Asia-Pacific was the leading revenue generator in 2023
The Global PUR Adhesives in Electronics Market is segmented on the basis of Type, Curing Process, Application, and Region.
The market is divided into three categories based on Type: One-Component PUR Adhesives, Two-Component PUR Adhesives, and Reactive Hot-Melt PUR Adhesives. Two-component PUR Adhesives hold the highest priority due to their superior bonding strength and versatility. One-component PUR Adhesives follow, offering ease of use and storage stability. Reactive Hot-Melt PUR Adhesives are valued for their quick curing and high performance in specific applications.
The market is divided into three categories based on the Curing Process: Moisture Curing, Heat Curing, and UV Curing. Moisture Curing adhesives lead due to their widespread use and ease of application. Heat Curing follows, offering strong adhesion in high-temperature environments. UV Curing is prioritized for applications requiring rapid curing and precision.
PUR Adhesives in Electronics Market- Geographical Insights
In the PUR Adhesives in Electronics Market, Asia-Pacific leads, driven by its robust electronics manufacturing sector. China, as a major hub, contributes significantly, with the Ministry of Industry and Information Technology reporting that over 70% of global electronics are produced in the region. In Japan, advancements in electronic components drive the need for high-performance PUR adhesives, supported by government initiatives to boost semiconductor production. North America follows, with the U.S. and Canada focusing on innovation and technology, evidenced by recent investments in electronic R&D facilities. The U.S. Department of Commerce highlights the region's substantial spending on advanced electronics, increasing the demand for specialized adhesives. Europe also shows growth, particularly in Germany and France, where automotive and industrial electronics drive the market. The European Union's Horizon 2020 program supports cutting-edge technology development, further fueling the need for advanced adhesive solutions. These regions collectively represent a dynamic landscape for PUR adhesives, reflecting their diverse and expanding applications in electronics.
In the PUR Adhesives in Electronics Market, leading players include Henkel, 3M, Sika, and H.B. Fuller. Henkel has strengthened its position through the acquisition of the German adhesives manufacturer Loctite and has developed advanced PUR adhesives for electronics, enhancing product reliability and performance. 3M has recently launched a new line of low-temperature curing PUR adhesives tailored for flexible electronics, showcasing its innovation focus. Sika, through its acquisition of BASF's construction chemicals division, has expanded its portfolio to include high-performance PUR adhesives for electronics. H.B. Fuller has entered into strategic partnerships with major electronics manufacturers to co-develop adhesive solutions that meet the increasing demand for miniaturized components. These initiatives highlight the competitive landscape where companies are actively investing in R&D and expanding their product offerings to address the evolving needs of the electronics industry.
In May 2021, Henkel developed the industry's first bio-based polyurethane reactive (PUR) hot melt adhesive, LOCTITE HHD 3544F, for consumer electronics assembly, with approximately two-thirds of its content sourced from renewable, plant-based feedstocks.
In March 2024, Henkel showcased innovative adhesive solutions, including PUR adhesives, at Interzum 2024. These products enhance the performance and sustainability of applications in the furniture and interior design sectors, emphasizing their versatility and effectiveness in various bonding processes.