Market Research Future published a Cooked Research Report on Adhesives & Sealants for Handheld Devices Market.
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.
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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
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.