Thermal conductive adhesives are witnessing an increase in consumption in integrated circuits as the demand for cutting-edge technologies continues to surge. Growing investments by key stakeholders in energy storage solutions are complementing the demand as well. On that premise, the global thermal conductive adhesives market will expand at nearly 6% CAGR over the forecast period (2019-2029).
“The dramatic increase in demand for thermal conductive adhesives is attributed to automotive and electronics industry. Rising adoption of eco-friendly and lighter electric vehicles is scaling up the production of thermal conductive adhesives over the forecast period. The global thermal conductive adhesives will expand 1.8X through 2029,” projects the Fact.MR study.
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Thermal Conductive Adhesives Market – Key Findings
- In terms of product type, silicone segment will register prolific growth over the forecast period.
- Materials such as polymers and silicone are driving the consumption of thermal conductive adhesives in electronics industry.
- Asia Pacific will hold approximately 45% share in the global thermal conductive market through 2029.
- Thermal conductive adhesives market in North America will witness noteworthy growth rate over the projection period.
Thermal Conductive Adhesives Market – Key Driving Factors
- Greater inclination towards eco-friendly solutions is ramping up the demand for thermal conductive adhesives.
- Supportive legislation policies are supporting the growth of thermal conductive adhesives market.
- Advanced R&D infrastructure is boosting the market growth in developed economies.
- Capacity expansion activities by key players in automotive and electronics industry will be a major growth driver through 2029.
Thermal Conductive Adhesives Market – Key Restraints
- Geo-political environment in certain emerging economies is retraining market growth.
- Insufficient fundamental knowledge about thermal conductive adhesives will limit the entry of new players through 2029.
The Anticipated Covid-19 Impact
The coronavirus outbreak could have a far-reaching impact on the global thermal conductive adhesives market. Factory shutdowns and restrictions on logistics and shipments could are likely to restrain market growth.
In an ideal scenario, the pandemic could be largely restricted to cities, allowing manufacturing sites outside affected areas to continue operations, which will manage to keep a steady rate of production for thermal conductive adhesives, which can result in a surplus.
On the other hand, the more likely scenario is that a large part of the global manufacturing sector will be shut down for some time. In this case, the impact of the outbreak is likely to be felt across the value chain, resulting in weaker domestic markets and lower consumption, which will impact the industry until the production of thermal conductive adhesives goes back to normal.
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Competitive Landscape
Some of the prominent players profiled in this Fact.MR report include, but are not limited to, Permabond Engineering Adhesives, DOW Corning, Masterbond, 3M Company, H.B. Fuller, Creative Materials, Inc., Henkel AG & Co. KGaA, and Panacol-Elosol GmbH. Industry leaders continue to improve the heat transfer properties of thermal conductive adhesives. Moreover, proliferation of end-use applications are compelling manufacturers to broaden their product offerings through continued R&D undertakings. Aerospace, healthcare, automotive, and electronics industry are key focus areas of major stakeholders in the global thermal conductive adhesives market.
About the Report
This 170-page study offers in-depth commentary on the thermal conductive adhesives market. The study provides compelling insights on the thermal conductive adhesives market on the basis of type (silicones, epoxies, polyurethanes, acrylics, polyamide), application (battery thermal, heat sink, IC packaging heat conduction, LED lightning thermal, thermal material potting), end-use industry (electronics, aerospace & defense, automotive, energy, healthcare) across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa).
Press Release: https://www.factmr.com/media-release/1380/global-thermal-conductive-adhesives-market
