The global bonding sheet market is primarily driven by the rapidly growing electronics industry. Bonding sheets are widely used in the manufacturing of various electronic components such as PCBs, semiconductors, and microelectronics owing to their excellent adhesion properties. These sheets allow for strong adhesion between different materials like metals and plastics. They provide consistent bonding across all surfaces and ensure long-lasting connectivity between components even in harsh operating environments.
The global bonding sheet market is estimated to be valued at US$ 446.07 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031. Key Takeaways
Key Players: Key players operating in the global bonding sheet market are Arisawa Manufacturing Co., Dexerials Corporation, DuPont, Fujikura Ltd., Hanwha Solutions Advanced Materials Division, Microcosm Technology Co., Ltd., Namics Corporation, Nikkan Industries Co.,Ltd, Nippon Mektron Ltd., Nitto Denko Corporation, Shin-Etsu Polymer Co., Ltd., Showa Denko Materials Co., Taiflex Scientific Co. Ltd., Toray Industries, Inc., Qinglong Adhesives, Orion Packart.
Key Opportunities: Growing Bonding Sheet Market Size for miniaturized and durable electronic components across industries is expected to offer lucrative opportunities for bonding sheet manufacturers. Increasing R&D investments by players to develop novel adhesive formulations suitable for emerging applications will further support market growth.
Global Expansion: Leading players are expanding their footprint globally by setting up manufacturing plants in fast growing regions. They are also collaborating with local players to gain access to new markets like Asia Pacific and Middle East & Africa.
Market Drivers:
The primary factor driving the global bonding sheet market is the exponential growth of the electronics industry. Rapid digitalization trends and increasing penetration of smart consumer devices are propelling the demand for miniaturized electronic components that require high-grade bonding solutions. In addition, bonding sheets help improve the performance, reliability and lifespan of electronic assemblies, thereby finding wide acceptance.
PEST Analysis
Political: Bonding sheet market may get influenced by political factors like changes in import/export duties and regulations for using different adhesives.
Economic: Factors such as global GDP growth, per capita income levels, and currency exchange rates affect the demand for electronic devices using bonding sheets.
Social: Increasing population, urbanization, changing lifestyles and digitization are positively impacting the social environment for bonding sheet usage in goods like smartphones, home appliances.
Technological: Advancements in bonding sheet materials, production processes and end-use applications like flexible displays, 5G technology are driving further demand. New bonding sheet types are also being developed for specialized usage.
Concentration by Geographical Regions
The Asia Pacific region currently dominates the global bonding sheet market in terms of value, accounting for over 50% share. This is majorly due to the large production clusters of electronic goods in China, South Korea, Japan, Taiwan and other developing Asian countries.
Fastest Growing Region
The North American bonding sheet market is projected to witness the highest CAGR during the forecast period. This can be attributed to rising electronics consumption in the US and Mexico driven by economic growth, expanding middle class and increasing disposable incomes in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
