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.
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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
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- 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
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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.
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