Market Overview:
Commenting on this report, an
analyst from Market Research Future (MRFR)’s team said, “Global adhesives &
sealants market for handheld devices was valued at USD 4,882.6 million in 2016
and is expected to grow at 7.21% CAGR to reach USD 7,946.8 million by the end
of 2023. Adhesives & sealants for handheld devices are gaining traction in
the global market with the rapidly changing technologies allied with the
portable gadgets and devices such as mobile phones & tablets, gaming
laptops and detachable laptops among others. The design sophistication of
latter mentioned devices and the miniaturization trend requires bonding agents
that doesn’t jeopardize the quality and performance of these devices, which in
turn is driving the global market.
In the current market
scenario, the smartphones do not limit to the urban population, it has found
its way into the lives of semi-urban and rural population, owing to the
increasing number of mobile phone manufacturers offering smartphones at
affordable prices. For instance, the global shipment of mobile phones and
smartphones was pegged at 2.2 million units in 2016, which is expected to be
pegged at 2.6 million units towards the end of 2023. Thus, considering this
growth coupled with the rise in population, and new entrants in the smartphone
industry, the global market for adhesives & sealants is expected to
register a healthy growth over the forecast period.
Segment Analysis:
The global adhesives &
sealants market for handheld devices is segmented on the basis of adhesive
types, sealant types, application and region. On the basis of adhesive type,
global adhesives & sealants market for handheld devices is segmented into
hot melt adhesives, pressure sensitive adhesives, waterborne adhesives, and
solvent borne adhesives among others. Based on sealant types the market is
segmented into— silicone sealants, polyurethane sealants, acrylic latex
sealants, epoxy sealants, and butyl sealants among others. Based on
application, the global adhesives & sealants market for handheld devices is
segmented into— mobiles & tablets, laptops, hard disc drives, and medical
devices among others.
With the ever-changing demand
for sophisticated communication devices and gadgets from the tech-savvy
consumers, the manufacturers of these devices are coming up with innovative
devices to quench the consumer demand. Thus, the rapidly changing technological
aspects in the field of telecommunication and wireless communications devices
has resulted in miniaturization of electronic components and adoption of
non-traditional materials for construction of electronic components to be used
in the handheld devices. Subsequently, the demand for innovative bonding agents
matching the material chemistry of the components used in the handheld devices
has surged. For instance, H.B. Fuller, a renowned name in the market for
adhesive and sealant technologies for portable devices has come up with
innovative solution for thinner and lighter LCD screens. The product offers
excellent adhesion performance, and also allows fast curing time with UV-LED
cold light, which in turn optimizes the manufacturer’s productivity. On the
plus side, the product being a greener adhesive it releases no VOC’s,
addressing the sustainability factor.
The report covers the
different types of adhesives and sealants widely across the value chain in the
production of different handheld devices. In terms of adhesives, the market is
segmented into hot melt, pressure sensitive, water based, and solvent based
adhesives among others. Among the aforementioned types of adhesives, hot melt
adhesives is widely used for manufacturing handheld devices owing to the strong
but flexible viscoelastic bonds to plastic and metal substrates that are
commonly used in smart devices, which is followed by water based and pressure
sensitive adhesives.
Based on the sealants, the
market is divided into silicone, polyurethane, acrylic latex, epoxy, and butyl
sealant among others, of which, silicone sealant is widely consumed. In 2016,
silicone sealants segment was pegged at 122.0 ‘000 tons. In terms of value the
segment was valued at USD 398.3 Mn by 2016 end. Silicone sealants is primarily
driven by the demand for superior sealants from the consumer electronics sector
owing to its superior properties such as good temperature resistance, low
volatility, and mechanical strength among others. The silicone sealants is
projected to expand at a CAGR of 6.0 % over the forecast period.
Based on the major
applications of Global
Adhesives & Sealants The Market is segmented into — mobiles & tablets, laptops,
hard disc drives, and medical devices among other portable devices such as CDs
and portable speakers. Mobile & tablets and laptops as an application accounted
more than 70% of the market share in the global adhesives & sealants market
for handheld devices in terms of value and volume, which is followed by the
hard disc drives segment. Considering the penetration of smartphones, which is
no longer limited to the urban population the demand for adhesives and sealants
from the mobile phones & tablets segment is poised to grow substantially
over the forecast period registering a CAGR of 7.8% in terms of value.
Furthermore, the bolstering demand for gaming laptops and detachable laptops is
expected to foster growth for adhesives and sealants in the laptops segment
Key Players:
·
Henkel AG
& Co
·
KGaA
·
3M
·
Dow Corning
Corporation
·
H.B. Fuller
·
Novachem
Corporation and Permabond
Regionally, the
global adhesives and sealants market for handheld devices is divided into five
main regions viz., North America, Europe, Asia Pacific, Latin America and
Middle East & Africa. Among the regions, Asia Pacific dominates the market
in terms of value and volume, predominantly driven by the electronic sector in
the region along with the rise of ASEAN countries as a huge hub for electronics
device assembly. The Asia Pacific market is trailed by Europe, which is
followed by North America.
The study was conducted using
an objective combination of primary and secondary information including inputs
from key participants in the industry. The report contains a comprehensive
market and vendor landscape in addition to major key developments and
strategies of key vendors.
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