Global bonding sheet market

Market Size and Trends

Global bonding sheet market is estimated to be valued at USD 446.07 Mn in 2024 and is expected to reach USD 740.05 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

Global bonding sheet market is expected to witness positive growth over the forecast period. Growing electronics and semiconductor industries are expected to boost demand for bonding sheets as these are used extensively in the manufacturing of printed circuit boards. Growing automotive industry relies heavily on electronics, and this will boost the need for bonding sheets in the near future. With technological advancements and emerging applications of bonding sheets, the market is poised for significant gains through 2031.

Bonding Sheets and Technological Advancements

 With the rapid advancements in technology, various industries are exploring innovative solutions to enhance productivity and efficiency. Bonding sheets have emerged as a versatile material for diverse applications due to their unique bonding properties. Growing demand for miniaturization of electronic components has boosted the use of bonding sheets. These sheets allow for precise stacking and assembly of tiny semiconductor chips, circuit boards, and other electronic components. Leading manufacturers are utilizing advanced bonding sheet materials to create compact motherboards, graphics cards, chip packages and other technology products. With the proliferation of artificial intelligence, Internet of Things, autonomous vehicles and other futuristic technologies, the miniaturization trends are projected to accelerate in the near future This will present lucrative opportunities for bonding sheet suppliers to develop specialized materials catering to advanced technology assembly needs. 

Market Concentration and Competitive Landscape

Rise of Flexible Electronics

Traditional rigid electronics are making way for the flexibility of next generation devices. The electronics industry is transforming towards lightweight, portable, and flexible form factors. This structural evolution requires bonding solutions that can adhere to curved, twistable and stretchable surfaces. Bonding sheets with elasticity and strength properties suitable for flexible electronics manufacturing are gaining significant traction. Smartphones, laptops, virtual/augmented reality headgear, wearables and rollable displays heavily rely on bonding sheets to seamlessly integrate electronic components onto flexible plastic substrates. Moreover, emerging applications like electronic skin, flexible displays and biointegrated electronic tattoo are breakthrough areas where functional yet supple bonding materials play a critical role. As the world embraces flexible electronic devices at a rapid pace, bonding sheet producers will have to create tailored solutions optimized for this fast-growing flexible electronics sector.

Market Challenges Rising Costs of Raw Materials

Global bonding sheet market faces several challenges. Manufacturers of bonding sheets are facing rising costs of raw materials like epoxy and other chemicals used in production. Strict environmental regulations around the use of volatile organic compounds pose compliance issues. Substitutes like conductive adhesives also threaten market share.

 Market Opportunities: Growing aerospace industry

Growing aerospace industry boosts demand for high strength bonding sheets. Automotive lightweighting trends mean more use of composites that use bonding sheets. Electronic applications are expanding for circuit protection and shielding. New product development in thermally conductive bonding brings the possibility to penetrate existing industries like power electronics. 

Insights, By Adhesive Material: Polyimides segment contributes the highest share of the market owing to its superior properties

In terms of adhesive material, polyimides segment is estimated to contribute the 41.9% share of the market in 2024. Polyimides material used in bonding sheets has witnessed increased adoption due to its unique combination of properties that make it ideal for applications requiring high-performance adhesives. Polyimides offer excellent thermal and electrical insulation as well as resistance to moisture and chemicals. These can withstand temperatures as high as 400°C without degradation of properties. The heat resistance of polyimides allows them to perform reliably even under demanding operating conditions like those found in engine compartments. Another key advantage of polyimides is their flexibility and ability to form strong bonds on a variety of substrates including metals, ceramics and plastics. This compatibility with dissimilar substrates expands the scope of applications for bonding sheets. The flexibility of polyimide films also makes them suitable for applications requiring bonding of complex 3D shapes. Their flexibility and conformability allows polyimide bonding sheets to form tight, void-free bonds even on irregularly shaped components. Polyimide materials used in bonding sheets also demonstrate very high strength coupled with outstanding dielectric properties. This enables polyimide bonding sheets to reliably transmit electrical signals and protect electronic circuits from failure under harsh operating environments. Overall, polyimides offer the best balance of physical, chemical and electrical properties compared to other adhesive materials, giving it the highest market share.

Insights, By End Use: Electronics segment contributes the highest share of the market due to growing circuit complexity

Others (Electronics, etc.)Segment is estimated to account for the 42.6% share of the bonding sheet market. Advanced semiconductor packages with increasing numbers of miniature interconnects require ultra-thin, flexible bonding sheets to form uniform bonds over minuscule pitches and irregular surfaces within tiny footprints. Polyimide and acrylic bonding sheets are widely used in semiconductor manufacturing for applications such as die attach film, ultra-thin chip scale packaging (UCSP), wafer level chip scale packaging (WLCSP) and 2.5D/3D advanced multi-chip modules (MCM). Their properties like flexibility, dimensional stability and electrical insulation make them well-suited for complex, high density advanced packaging needs. As electronics become ever more compact with shrinking feature sizes and shortening design cycles, bonding sheets play a critical role in improving manufacturing yields and reliability of minute interconnects. Their adoption is growing with increasing miniaturization of chips and proliferation of applications like Internet of Things (IoT) devices, autonomous vehicles and mobile technology. Overall, the need for high-performance, ultra-thin bonding solutions drives the electronics segment's prominence in the market.

Regional Insights

North America continues to be the dominant region in the global bonding sheet market with 39.9% share in 2024, accounting for around one-third of global revenue. The presence of leading manufacturers as well as a well-established construction and automotive industry have made the U.S. and Canada the powerhouses in this space. Stringent regulations regarding worker safety have also boosted demand for certified bonding sheets from various end-use sectors. Moreover, the focus on replacing outdated adhesive tapes with advanced bonding sheet solutions is a major factor supporting the market growth. However, pricing pressures due to high input costs could remain a challenge for vendors in the coming years.

The Asia Pacific region, especially China, has emerged as the fastest growing market for bonding sheets globally. Rapid industrialization and infrastructural development are the primary factors driving the market expansion. There is a significant rise in new manufacturing plants for industries like electronics, furniture, and packaging. This boosts the consumption of bonding sheets in the Asia Pacific region. Ease of raw material availability at competitive prices and favorable foreign direct investment norms make this an attractive production base. As a result, several international players are setting up manufacturing facilities or partnering with local vendors. This will further increase the regional market share. An expanding middle-class population and their rising income levels will also contribute to the growth of end-use sectors employing bonding sheet products. While quality-related concerns persist for local manufacturers, initiatives are being taken to enhance process technologies.

Market Report Scope

Key Developments

• In October 2022, Clariant AG's strategic decision to inaugurate a state-of-the-art technical center in the UAE signifies a significant step in its expansion efforts. This facility is specifically designed to cater to the needs of customers across Europe, the Middle East, and Africa (EMEA). By establishing a presence in the UAE, Clariant is strategically positioning itself to better serve its clientele in these regions, offering enhanced technical support, innovative solutions, and localized services.
• In September 2022, Clariant AG's D3 PROGRAM introduced sustainable solutions to the oil and gas industry, showcasing the company's commitment to environmental responsibility and innovation in energy sector practices
• In January 2022 Veolia Group's acquisition of Suez, a leader in water and waste management, expanded Veolia's presence in the biocides market and boosts company revenue, signalling strategic growth and market consolidation.
• In January 2021, LANXESS AG's acquisition of Intace SAS strengthened its position as a leading biocides manufacturer, expanding its reach and expertise in biocides applications, further solidifying its market presence

*Definition:

"Bonding Sheet Market deals with high-quality bonding sheets that are used to securely attach or adhere two surfaces together. These bonding sheets are used across various industries for applications like joining composite materials, bonding plastics, sealing envelopes, and more. The sheets offer strong, long-lasting bonds and are available in different adhesive types, thicknesses, widths, and lengths to suit diverse project requirements. Manufacturers supply these customizable bonding sheets to fabricators, manufacturers, and distributors in the bonding sheet market."

Market Segmentation

• Adhesive Material Insights (Revenue, USD Mn & Million Square Meter, 2019 - 2031)
  • Polyimides
  • Polyesters
  • Acrylics
  • Others (Modified Epoxies, etc.)
•  End Use Insights (Revenue, USD Mn & Million Square Meter, 2019 - 2031)
  • Automotive
  • Construction
  • Telecommunication
  • Others (Electronics, etc.)
• Regional Insights (Revenue, USD Mn & Million Square Meter, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • 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