Electrically conductive adhesives are made up of an epoxy resin blended with fine silver or copper fillers. They aid in bonding of electronic components while also providing an electrical pathway for circuitry. These adhesives offer design flexibility, reduce component stress and produce reliable electrical connections. They help miniaturize devices in applications such as displays, sensors and power modules.
Market Opportunity:
The opportunity in consumer electronics sector is driving the demand for electrically conductive adhesives. Miniaturization trend and growing functionality in smartphones, tablets and wearables has increased the number of components in devices. Electrically conductive adhesives help connect these small components reliably while also providing mechanical protection. They allow multi-level circuitry and new form factor designs not possible with traditional soldering methods. The ability of these adhesives to connect different surfaces having varied coefficients of thermal expansion has increased their use in devices using new materials like glass and ceramics. This is expected to propel the growth of electrically conductive adhesives market during the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up new manufacturing plants requires large capital investments and R&D. However, small companies can enter the market by offering niche products.
Bargaining power of buyers: The bargaining power of buyers is moderate. Larger buyers can negotiate on price and demand better quality and services from suppliers. However, the presence of many suppliers limits the influence of individual buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. This is due to the presence of many suppliers and ease of switching between suppliers. However, suppliers of key raw materials like epoxies and silicones can influence prices to some extent.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives that can match the conductivity, bonding strength, and cost-effectiveness of electrically conductive adhesives.
Competitive rivalry: The competitive rivalry is high due to many regional and global players offering similar products. Companies compete based on product performance, quality, pricing, and innovation.
SWOT Analysis
Strengths: Electrically conductive adhesives provide durable bonds for electronics applications. They offer uniform heat dissipation and electrical conductivity.
Weaknesses: Certain grades have lower resistance to heat, moisture, and chemicals. Processing can be complex for intricate designs.
Opportunities: Growing demand for miniaturized electronics and wearables will boost usage of conductive adhesives for connections. Development of products for new applications like electric vehicles presents opportunities.
Threats: Strict environmental regulations around solvent-based and epoxy adhesives. Economic slowdowns can impact the electronics industry and lower demand.
Key Takeaways
Global Electrically Conductive Adhesives Market Size is expected to witness high growth.
The market in Asia Pacific dominates currently due to high electronics production in countries like China, Japan, South Korea and Taiwan. Key end use industries driving demand include electrical & electronics, automotive, industrial machinery and more.
Key players operating in the electrically conductive adhesives market are Henkel AG & Co. KGaA, H.B. Fuller, 3M Company, Permabond Engineering Adhesives, Masterbond, Creative Materials Inc., Panacol-Elosol GmbH, DOW Corning, Polytec PT GmbH, and Lord Corporation.
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