Thermal Conductive Adhesives Market to Record Positive Growth, Extensive Utilization in Automotive and Electronics Sectors to Expand Revenue Pools of Manufacturers, Finds Fact.MR
Published : 16 Mar 2020 Industry: Chemical & Materials
Demand for thermal conductive adhesives has dramatically increased over the last decade, following a rapid transformation in electronics and automotive industry. On the back of upgradation of conventional methods in the adhesives industry, worldwide sales of thermally conductive adhesives is expected to grow at a healthy CAGR of 6% over the forecast period (2019-2029). In addition, thermal conductive adhesives are finding rampant adoption in automotive as consumer preference for lighter, eco-friendly electric vehicles is rising. Further, with the increasing demand for higher operating performance, manufacturers are in need for more efficient adhesives which is expected to amplify the demand for thermal conductive adhesives in the foreseeable future.
Key Takeaways of Global Thermal Conductive Adhesives Market:
- Germany’s excellence in automotive sector is backed by advanced R&D infrastructure, and a highly qualified work force. The electronics industry in Europe is influenced by changing legislations in manufacturing processes and inclination towards eco-friendly solutions. On this backdrop, Europe is expected to grow at a CAGR of over 4% over the forecast period.
- Silicones segment is expected to grow 1.7X between 2019 and 2029 owing to higher temperature and vibrational energy properties, coupled with environmental friendliness
- Global demand for aircraft is expected to double within the next twenty years. Following this demand, aircraft manufacturers and suppliers are increasing their capacities. Multiple thermal conductive adhesive manufacturers are utilizing their know-how for the development of aerospace grade adhesives to accommodate increasing demand from the aerospace industry.
“Thermal conductive adhesives market are projected to be utilized in future automotive manufacturing to fulfill these evolving consumer preferences. Raw material availability of thermal conductive adhesives is prominently influenced by regional supply-demand gap, GDP growth and geo-political environment”, Says the Analyst at Fact.MR
Asia Pacific to Remain in Vanguard with Accelerating Demand
Growing automotive industry is playing an important role in China’s bolstering economy. Asia Pacific, with China at the forefront has one of the largest electronics market, and holds the market share of over 45% in the global demand for thermal conductive adhesives. In addition, countries of South Asia such as India and ASEAN have undergone a marked transformation and demand in these countries is expected to witness an upward trajectory in the coming years. Resultantly, South Asia is projected to register astonishing growth of more than 7.5% over the forecast period.
Find More Valuable Insights on Thermal Conductive Adhesives Market
Fact.MR, in its new offering, provides an in-depth analysis of the global thermal conductive adhesives market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the thermal conductive adhesives market on the basis of type (silicone, epoxy, polyurethanes, acrylics, and polyamide), application (battery thermal, heat sink, IC packaging heat conduction, led lighting thermal, thermal material potting, and others), end use (electronics, aerospace & defense, automotive, energy storage, healthcare, and others) and key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East and Africa).
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About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain insights, visit here.