The global bonding sheet market size is projected to grow from USD 386 million in 2022 to USD 551 million by 2027, at a CAGR of 7.4% between 2022 and 2027. Emerging economies of Asia Pacific and Europe are expected to witness rising demand of bonding sheet owing to the developing electronics industry and applications in flexible printed circuit board (FPCs) and multi-layer FPCs. Additionally, rising demand for consumer electronics, electric vehicles, and miniaturization of electronic components are the major driver for the growth of bonding sheet market. Advancement in telecommunication such as 5G technology is also expected to increase the demand of bonding sheet for during the forecast period. However, geopolitical uncertainties, and high capital investment hinders the growth of the market.
Bonding sheet is an adhesive film or sheet which consist of an adhesive layer on one side for bonding or surface coating. It has a removable paper based release liner to protect the adhesive sheet from premature adhesion. Bonding sheet are primarily used in electronics application such as bonding of flexible inner layers or rigid cap layers in multi-layer laminations, fabrication of rigid--flex PCBs, and others such as heat sinks or stiffeners.
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Based on adhesive material, polyimide bonding sheet is estimated to be the fastest growing market, during the forecast period. Polyimide bonding sheet have superior mechanical and thermal properties compared to other polymers. Moreover, rising demand from automotive and electronics application is expected to propel the growth of polyimide adhesive material during the forecast period.
Based on adhesive thickness, 25µm (1mil) segment accounted for the largest market share in 2021 owing to its flow properties and strong adhesion. Rising production of multi-layer FPCs for electronics application is also expected to drive the demand for 25µm (1mil) bonding sheet. This type of bonding sheet replaces low-melting point liquid crystalline polymer (LCP) bond plies and laminates.
Based on application, electronics/optoelectronics segment is estimated to be the fastest growing market. Bonding sheet are used in demanding applications in electronics such as fixing CPUs to heat sinks or heat radiation fans, LED modules, and others such as bonding chips and base cards of small memory cards. Moreover, bonding sheet have various properties such as thermal resistance, dielectric constant, flame retardancy, and others which makes them ideal material for bonding application in electronics/optoelectronics segment.
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Asia Pacific region is the fastest-growing market for bonding sheets driven by rising demand from emerging economies such as China and India. Government regulation and incentives schemes, low labor cost, and availability of raw materials are some of the factors driving the market. Japan, China, and India are the key market of bonding sheet in Asia Pacific.
The major players in the bonding sheet market include Arisawa Manufacturing Co. (Japan), DuPont (US), NIKKAN INDUSTRIES Co., Ltd. (Japan), Dexerials Corporation (Japan), Nitto Denko Corporation (Japan), Showa Denko Materials Co., Ltd. (Japan), Toray Industries, Inc. (Japan), NAMICS Corporation (Japan), and Shin-Etsu Polymer Co., Ltd. (Japan). These players have adopted various growth strategies to expand their presence in the market. New product launch, and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global bonding sheet market.
Arisawa Manufacturing Co., Ltd. is one of the leading players in the field of electronic/optoelectronic materials. The company manufactures cover lays, laminates, adhesive sheets, and other electronics materials. It offers bonding sheet adhesives under the brand interlayer adhesive sheet through the electronics related materials business segment. Arisawa Manufacturing Co., Ltd. provides bonding sheet primarily for FPC applications under the FPC materials product portfolio for electronics and telecommunication applications.
Nitto Denko Corporation develops core technologies for adhesive based products and manufactures bonding sheets, insulating materials, automotive electronics, and other electronics products. It offers bonding sheet under the brand FB-ML4 through the Industrial Tape business segment. Nitto Denko Corporation manufactures acrylic and polyester bonding sheet ideal for electronics/optoelectronics, home appliances, LED substrate, and other applications. The company has manufacturing facilities in Japan and other Asia Pacific countries such as China, Thailand, Korea, and others.
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Another important player in the bonding sheet market is DuPont (US) is a prominent bonding sheet manufacturing company engaged in R&D, manufacturing, processing, marketing, and supplying of bonding sheet. Its product portfolio includes Pyralux brand of bonding sheet in various grades and adhesive thickness for electronics, telecommunication, automotive, and other applications. The company has a global business presence with manufacturing location and sales offices in Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
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