COMPANY PROFILE / ADHESIVES & ENCAPSULANTS
Henkel
A general adhesives group that calls itself the global market leader, now extending into electronic materials and semiconductor packaging
Henkel comes up in any discussion of adhesives and encapsulants because it is one of the largest general-purpose suppliers, selling adhesives, sealants and coatings into more than 800 industries. According to its 2025 annual report, the Adhesive Technologies business unit had sales of €10,667 million and an adjusted operating margin of 16.7%. Within it, the Mobility & Electronics business area drove growth, and the Electronics business grew at a double-digit rate. Henkel's own website also lists die attach materials, underfills and encapsulants for semiconductor packaging, along with the Bergquist brand of thermal-management materials. This profile sets out, from primary sources only, what the company puts into adhesives and encapsulants, what it has bought, and how much it discloses.
- Henkel in 30 seconds, and where it stands in adhesives and encapsulants
- The logo and how the name is written
- Where the company sits in the field
- Scale
- Resources committed to adhesives and encapsulants
- What it has done so far
- What comes next
- What the company is aiming for in adhesives and encapsulants
- Map of partnerships in adhesives and encapsulants
- Technologies, products and services
- The risks this company carries
- Glossary, references and claim-to-source audit
1. Henkel in 30 seconds, and where it stands in adhesives and encapsulants
(secondary: electronic materials)Not a dedicated semiconductor-materials maker
about 100,000 customersAcross more than 800 industries, per the company
hot melts, surface treatmentIn electronics: semiconductor encapsulants, die attach, thermal materials
In adhesives and encapsulants, Henkel is best understood not as "a semiconductor-materials company" but as "the broadest seller of adhesives in the world, reaching into electronic materials as well" Our calculation. The annual report splits the Adhesive Technologies unit into three business areas that are roughly equal in size: Mobility & Electronics (€3,853 million), Packaging & Consumer Goods (€3,097 million) and Craftsmen, Construction & Professional (€3,716 million) Sourced. How much of the unit's sales come from semiconductor-packaging materials is not disclosed Not yet confirmed.
2. The logo and how the name is written
A note on names: the legal entity is Henkel AG & Co. KGaA, a partnership limited by shares whose sole personally liable partner is Henkel Management AG. Its adhesives business is called Adhesive Technologies inside the company, and is separate from the other business unit, Consumer Brands (laundry and home care, hair care and so on). Product brands such as Loctite also belong to Henkel, but a brand name is not a legal entity. The logo image was taken from the company's official website (henkel.com).
Official site: https://www.henkel.com/3. Where the company sits in the field
4. Scale
The Group has two business units, and Adhesive Technologies accounts for about half of sales Sourced. Because this article is about Adhesive Technologies, the Group as a whole is covered briefly.
| Indicator (€ million) | 2024 | 2025 | Change |
|---|---|---|---|
| Group sales | 21,586 | 20,495 | -5.1% (organic +0.9%) |
| Adhesive Technologies sales | 10,970 | 10,667 | -2.8% (organic +1.5%) |
| Adhesive Technologies adjusted operating profit | 1,817 | 1,779 | -2.1% |
| Adhesive Technologies adjusted operating margin | 16.6% | 16.7% | +0.1 percentage points |
| Adhesive Technologies business areas (2025) | Sales (€ million) | Organic growth | Company commentary |
|---|---|---|---|
| Mobility & Electronics | 3,853 | +3.3% | Automotive, electronics and industrial customers. Electronics grew at a double-digit rate (especially in China) |
| Packaging & Consumer Goods | 3,097 | -0.6% | Packaging and consumer-goods makers |
| Craftsmen, Construction & Professional | 3,716 | +1.3% | Construction, maintenance and consumer users |
The Group had about 47,200 employees at the end of 2025, of whom about 50% work in Adhesive Technologies (a percentage read from a chart in the annual report; no headcount is given. Multiplying gives about 23,600, which is our own rough estimate Our calculation). In the first half of 2026 (January to June), Adhesive Technologies had sales of €5,534 million (organic growth +4.5%, adjusted operating margin 17.7%), and Mobility & Electronics grew organically by +7.8% Sourced.
Mobility & Electronics contains automotive (about a fifth of Adhesive Technologies sales, of which about a fifth relates to electric vehicles), electronics and the Industrial business. Neither the annual report nor the half-year report gives a sales figure for electronics or semiconductors, only growth rates. This article does not estimate one Not yet confirmed.
5. Resources committed to adhesives and encapsulants
For Henkel, adhesives are the main business, so most amounts can be read only at the level of the whole Adhesive Technologies unit. There are no figures for electronic materials alone.
| Resource | What primary sources confirm | Category |
|---|---|---|
| People | The Group's R&D workforce averaged about 2,800 people (about 6% of all employees; mostly chemists, plus materials scientists and engineers). Adhesive Technologies has more than 6,500 technical experts working with customers. R&D headcount for Adhesive Technologies alone is not disclosed | Sourced / partly undisclosed |
| Money (R&D) | Group R&D spending was €630 million (3.1% of sales). Adhesive Technologies' share is 57% on the annual report's chart, which works out to about €360 million (our rough estimate) | Sourced / Our calculation |
| Money (capital expenditure) | Adhesive Technologies' spending on property, plant and equipment was €351 million (previous year €308 million). Main projects: an adhesives plant built as part of a relocation in China, a technology centre in Brazil and an innovation centre in China. Group cash outflow on investment is expected at €650 million to €750 million in 2026 | Sourced / outlook |
| Acquisitions and investments | Critica Infrastructure (2023) and Seal for Life Industries (2024), both in maintenance and repair; ATP Adhesive Systems (water-based specialty tapes; closed April 2026 at a purchase price of €903 million). In electronic materials, The Bergquist Company (thermal materials) was acquired in 2014. The report also mentions investments in start-ups and venture capital funds (no names or amounts given) | Sourced |
| Universities, institutes, public funding | The annual report speaks only in general terms of cooperation with "research institutes, universities and start-ups". No named university, joint research project or public grant amount could be confirmed | Not confirmed |
| Research sites | Düsseldorf, Mumbai and Bridgewater (New Jersey), plus Shanghai (opened September 2025; €60 million invested; more than 500 researchers and developers working with customers). A centre in Jundiaí, Brazil is due to open in early 2026 (as of the annual report; we did not confirm the opening). A battery application centre has opened in Madison Heights, Michigan | Sourced |
Developing an adhesive means tuning a formulation (resin, hardener, filler, additives) to the customer's process (dispensing, curing, service environment). The annual report describes a division of labour in which base technologies are developed at a central location and then applied to customer-specific problems at regional sites Sourced. A single company can cover everything from structural adhesives to liquid semiconductor materials because they share a common base in resin chemistry, filler dispersion and control of the curing reaction Not yet confirmed. Semiconductor materials, however, demand far stricter control of impurities such as ionic contaminants, so even with a shared base the quality-control and evaluation systems are a different matter (see our explainers on underfill and die attach).
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| 1876 | Company founded | Per the company |
| 18 September 2014 | Announced an agreement to acquire The Bergquist Company, a supplier of thermal-management materials for electronics, with fiscal 2013 sales of about €130 million, about 1,000 employees and six production sites (five in the U.S., one in China) | The entry point to thermal materials such as GAP PAD. The deal value was not disclosed |
| 2023 | Acquired Critica Infrastructure | Widened into maintenance, repair and overhaul (MRO) |
| 2024 | Acquired Seal for Life Industries | Same direction; strengthens infrastructure and renewable-energy markets |
| 2025 | At the new Adhesive Technologies plant in Yantai, China, production of adhesives for electronics, automotive, medical, equipment manufacturing and aerospace began in stages. The Inspiration Center in Shanghai opened in September. A battery application centre opened in Michigan | More production and customer co-creation capacity in Asia |
| December 2025 to January 2026 | Agreement to acquire ATP Adhesive Systems (the annual report says it was signed in December 2025; the half-year report says it was announced on 16 January 2026) | Extends beyond liquid technologies into tapes |
| 1 April 2026 | Completed the acquisition of ATP Adhesive Systems (purchase price €903 million, including liabilities settled) | About 700 employees; expected 2025 sales of about €270 million; more than 90% of products water-based |
| 4 February 2026 | Agreement to buy Stahl of the Netherlands (specialty coatings for flexible materials) for €2.1 billion. The half-year report notes no completion | Whether it sits in the adhesives unit could not be confirmed from primary sources |
7. What comes next
margin in the high teensA company target, not a result
The primary sources also describe the following plans Not yet confirmed.
- A global network of battery application and test centres (Düsseldorf, Madison Heights and, from 2026, Shanghai)
- The opening of a technology and innovation centre in Jundiaí, Brazil (planned for early 2026 as of the annual report; the opening itself is not confirmed)
- Plans to move Adhesive Technologies and Consumer Brands into separate legal entities in Germany and major countries, described as a way to make processes and structures more agile. A separate stock-market listing (spin-off) is not mentioned
- For substances of very high concern (SVHC) in Adhesive Technologies products, caps on sales volumes by 2030 and a push for substitutes. The climate goal is net zero by 2045 (validated by the Science Based Targets initiative, with 2030 as an interim target)
Sales, R&D spending or capital expenditure for semiconductors and electronic materials alone; production capacity for encapsulants such as underfill; launch dates for individual new products; and the names of any joint research with universities or public bodies. None of these appears in the annual report or the half-year report.
8. What the company is aiming for in adhesives and encapsulants
This section separates what the company says it is aiming for from what we read into its disclosures. Inference marks our interpretation of primary sources.
| What can be read | Primary evidence | Category |
|---|---|---|
| Adhesive Technologies sees electronic materials as a growth pillar | Mobility & Electronics led organic growth in 2025, with electronics up at a double-digit rate (especially in China). The same business area grew 7.8% in the first half of 2026. Electronics comes first in the list of products from the new Yantai plant | Inference |
| Within electronics, it has AI-server and automotive semiconductors in mind | The official semiconductor page lists material on AI and high-performance computing, durability of large dies and automotive-grade semiconductor materials. No sales figures are given | Inference |
| It is widening its product forms from liquids to tapes | The ATP deal is described as expanding the portfolio "beyond liquid technologies" with complementary bonding solutions | Sourced |
| It is building up maintenance, repair and infrastructure businesses | The integration of Critica (2023) and Seal for Life (2024) is reported as complete | Sourced |
| It will split the businesses into two legal entities to speed up decisions | The stated purpose is to make processes and structures "more agile". No spin-off is mentioned | Sourced (purpose) / Inference (what follows) |
| It is moving towards formulations with a lower environmental load | Substitution of SVHC and a 2030 cap on sales volumes, expansion of water-based and CO₂-reduced raw materials, net zero by 2045 | Sourced (company targets) |
The reading that electronic materials are seen as a growth pillar rests on the ranking of growth rates. In 2025, of Adhesive Technologies' organic growth of +1.5%, Mobility & Electronics contributed +3.3%, Packaging −0.6% and Craftsmen, Construction & Professional +1.3% Sourced. Inside Mobility & Electronics, electronics grew at a double-digit rate, Industrial at a "very strong" rate, and automotive declined. So electronics and Industrial supported much of the unit's overall growth. But no sales figure is disclosed, so we cannot tell whether electronics is large enough to be called a pillar Not yet confirmed.
9. Map of partnerships in adhesives and encapsulants
Henkel's annual report describes cooperation with customers and suppliers only in general terms and does not name any joint-development partner. The only relationships that can be confirmed from primary sources are therefore acquisitions Sourced. The seller of ATP was Arsenal Capital Partners and the seller of Stahl was France's Wendel, according to the annual report and the acquisition announcement, but both are financial investors, not technology partners.
10. Technologies, products and services
Henkel has three pillars (adhesives, sealants and coatings) and runs five technology brands for industrial customers: Loctite, Technomelt, Bonderite, Teroson and Aquence Sourced. The table below organises the items in official materials that relate to electronic materials. No performance figures are given, because values on a product's technical data sheet must be read with the grade, test conditions and revision date matched.
| Area | What official materials list | Note |
|---|---|---|
| Five industrial brands | Technomelt: hot melt adhesives / Bonderite: surface treatment and process solutions / Teroson: bonding, sealing, coating and reinforcing for car bodies, repair and industrial assembly / Aquence: water-based adhesives / Loctite: adhesives and sealants in general | A brand is a product family name, not a ranking |
| Semiconductors: wirebond packaging | Die attach film, die attach paste, printable B-stage die attach adhesives | See our explainer on die attach |
| Semiconductors: advanced packaging | Underfills, encapsulants, lid and stiffener attach adhesives, EMI shielding, liquid compression molding | See our explainers on underfill and molding |
| Board and component level | Board-level encapsulants, conformal coatings, low-pressure molding, potting compounds, electrically conductive adhesives, assembly films | Protecting automotive and industrial electronics |
| Thermal management | GAP PAD (thermal pads) under the BERGQUIST brand, SIL PAD, gap fillers, thermal gels, greases, phase change materials, thermally conductive adhesives and films | See our explainers on thermal interface materials (TIM) and thermal pads |
| Equipment and services | Dispensing equipment, UV and LED light-curing equipment, robotic systems, and IoT services for equipment maintenance such as Loctite Pulse | Offered with the dispensing process, not just the material |
Materials for semiconductor packages ask for quite different properties from a general industrial adhesive. An underfill must at once flow by capillary action into the gap under the chip, reach a suitable coefficient of thermal expansion after curing (set by filler loading, to approach that of silicon), exert low stress, and carry very little ionic impurity. A die attach material balances heat-conducting and electrically conducting paths (filler amount and particle size of silver or copper) against low stress that does not warp the die. For a thermal pad such as GAP PAD, heavy loading with conductive filler makes the pad stiffer and puts load on components, so the central design task is keeping it soft while keeping thermal conductivity high Not yet confirmed.
That Henkel's official page publishes material on "durability of large dies" and "copper sintering" suggests the company recognises these issues are getting harder in customers' next-generation packages (larger, higher power). We have not, however, checked what any individual product achieves.
11. The risks this company carries
| Risk | Detail | Category |
|---|---|---|
| Automotive dependence | About 20% of Adhesive Technologies sales come from automotive. In 2025 demand was weak in Europe and North America and the automotive business declined overall | Sourced |
| Raw material prices | The company expects direct-material prices in 2026 to rise by a high single-digit percentage over the previous year's average. Many adhesive raw materials are petrochemical-based and sensitive to price swings | Sourced (expectation) / Inference (nature of the raw materials) |
| Trade and geopolitics | The company cites tariffs, trade barriers and tensions in the Middle East. Its "In the Region for the Region" approach (make and sell locally) is meant to limit the effect | Sourced |
| Currency | In 2025, exchange rates reduced Adhesive Technologies' sales by 4.1%, so nominal sales fell 2.8% while organic sales rose 1.5% | Sourced |
| Integrating large acquisitions | Integrating ATP (€903 million) and completing and integrating Stahl (€2.1 billion) lie ahead | Inference |
| Hard to verify electronics | Sales, profit and R&D for electronics and semiconductors are all undisclosed, so the scale of growth is hard to check from outside | Not yet confirmed |
| Chemicals regulation | Products containing SVHC are capped in sales volume by 2030, with substitution under way. Any new product containing SVHC needs management approval. No mention of PFAS or other individual substance rules could be found in the annual report | Sourced / not confirmed |
| Semiconductor cycle | Demand for electronic materials tends to move with customers' output of semiconductors and electronic equipment | Inference |
12. Glossary
- Adjusted operating profit (adjusted EBIT)
- Operating profit excluding one-off items and restructuring costs. The measure Henkel uses to compare performance.
- Organic growth
- Sales growth excluding the effects of exchange rates and of acquisitions and disposals.
- Underfill
- A liquid resin that fills the gap between a flip chip and the package substrate. It spreads stress across the connections.
- Die attach
- Bonding a semiconductor chip to a substrate or lead frame. Done with pastes, films, sintered materials and others.
- B-stage
- A part-cured state of a thermosetting resin, short of full cure. After printing it can be dried once and used later for bonding.
- TIM (thermal interface material)
- A material that fills the gap between a heat source and a heat sink and carries heat across it. Pads, greases and gels are examples.
- SVHC
- Substances of very high concern: substances on the candidate list of the EU's REACH regulation because of concerns for people or the environment.
- MRO
- Maintenance, repair and overhaul. The market for materials and services used to keep equipment and infrastructure running.
13. References
- Henkel Annual Report 2025 (published March 2026). Adhesive Technologies sales and profit, sales by business area, R&D spending and headcount, capital expenditure, acquisitions, research sites, brands, SVHC policy, climate target, plan for separate legal entities, employee numbers and listing information. https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf
- Henkel Half-Year Financial Report 2026. First-half 2026 sales and profit, completion and price of the ATP Adhesive Systems acquisition, the Stahl agreement, the 2026 outlook and medium-term ambitions. https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf
- Henkel Investor Relations News, "Henkel to acquire The Bergquist Company" (18 September 2014). https://dm.henkel-dam.com/is/content/henkel/press-release-acquisition-of-the-bergquist-company
- Henkel Adhesive Technologies Semiconductor (industry page). Product families for semiconductor packaging and titles of resources. Market-size figures on the page, which come from research firms, are not used. https://www.henkel-adhesives.com/us/en/industries/semiconductor.html
- Henkel Adhesive Technologies Thermal GAP PAD materials (BERGQUIST-brand thermal pads). https://www.henkel-adhesives.com/us/en/applications/thermal-management-materials/thermal-gap-pad-materials.html
- Henkel Adhesive Technologies Technomelt (hot melt adhesive brand page). https://www.henkel-adhesives.com/us/en/our-brands/technomelt.html
- Henkel Adhesive Technologies Bonderite (surface technology and process solutions brand page). https://www.henkel-adhesives.com/us/en/our-brands/bonderite.html
- Henkel Adhesive Technologies Teroson (automotive and industrial assembly brand page). https://www.henkel-adhesives.com/us/en/our-brands/teroson.html
- Henkel Adhesive Technologies Aquence (water-based adhesive brand page). https://www.henkel-adhesives.com/us/en/our-brands/aquence.html
- Henkel Official website (source of the logo image). https://www.henkel.com/
14. Claim-to-source audit
| Claim in the article | Category | Source |
|---|---|---|
| Legal name, head office, listing venues, founding year, DAX membership | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Adhesive Technologies sales of €10,667 million, adjusted operating margin of 16.7%, 52% of Group sales | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Sales by business area (Mobility & Electronics €3,853 million, Packaging €3,097 million, Craftsmen & Construction €3,716 million) and organic growth | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Electronics grew at a double-digit rate (especially in China); automotive declined | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| About 20,000 products, about 100,000 customers, more than 800 industries, more than 6,500 technical experts, five industrial brands | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Automotive is about 20% of Adhesive Technologies sales, of which about 20% relates to electric vehicles | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Group R&D spending of €630 million, about 2,800 R&D staff, about 10,200 patents | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Adhesive Technologies share of R&D spending (57%) and of employees (50%), as read from charts | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Estimates of about €360 million of R&D spending and about 23,600 employees in Adhesive Technologies | Our calculation | Our own multiplication of chart percentages by Group totals. The company does not disclose the amounts or headcount |
| Adhesive Technologies capital expenditure of €351 million and the main projects | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Gradual start of production at the new Yantai plant for electronics, automotive, medical, equipment and aerospace adhesives | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Shanghai Inspiration Center (opened September 2025, €60 million invested, more than 500 researchers and developers), the Brazil centre (planned for early 2026) and the battery application centre | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Acquisition and integration of Critica Infrastructure (2023) and Seal for Life Industries (2024) | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Agreement to acquire ATP Adhesive Systems (signed December 2025, announced 16 January 2026), about 700 employees, sales of about €270 million, more than 90% water-based | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| Completion of the ATP Adhesive Systems acquisition (1 April 2026) at a purchase price of €903 million | Sourced | Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| Agreement to buy Stahl for €2.1 billion (4 February 2026); no completion noted in the half-year report | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| Agreement to acquire The Bergquist Company (18 September 2014), fiscal 2013 sales of about €130 million, about 1,000 employees, six production sites | Sourced | Reference 3 https://dm.henkel-dam.com/is/content/henkel/press-release-acquisition-of-the-bergquist-company |
| First-half 2026 sales of €5,534 million, organic growth of +4.5%, margin of 17.7% and Mobility & Electronics growth of +7.8% | Sourced | Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| 2026 outlook (organic growth of 2% to 4%, margin of 16.5% to 18.0%), medium-term ambitions, Group investment outflow of €650 million to €750 million, expected rise in direct-material prices | Not yet confirmed | Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| Plan to move Adhesive Technologies and Consumer Brands into separate legal entities, and its stated purpose (no spin-off mentioned) | Sourced | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| SVHC policy (2030 sales-volume caps, approval rule for new products) and net zero by 2045 (SBTi) | Not yet confirmed | Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Semiconductor product families (die attach, underfill, encapsulants, lid and stiffener attach, EMI shielding, liquid compression molding) | Sourced | Reference 4 https://www.henkel-adhesives.com/us/en/industries/semiconductor.html |
| Items under the BERGQUIST brand: GAP PAD and thermal-management materials | Sourced | Reference 4 https://www.henkel-adhesives.com/us/en/industries/semiconductor.html Reference 5 https://www.henkel-adhesives.com/us/en/applications/thermal-management-materials/thermal-gap-pad-materials.html |
| Content of the Technomelt (hot melt), Bonderite (surface treatment), Teroson (automotive and industrial assembly) and Aquence (water-based) brands | Sourced | Reference 6 https://www.henkel-adhesives.com/us/en/our-brands/technomelt.html Reference 7 https://www.henkel-adhesives.com/us/en/our-brands/bonderite.html Reference 8 https://www.henkel-adhesives.com/us/en/our-brands/teroson.html Reference 9 https://www.henkel-adhesives.com/us/en/our-brands/aquence.html |
| Named partners for joint research with universities, institutes or public funding, and named joint-development partners | Not yet confirmed | Not stated in Reference 1. Not confirmed; we do not say none exist Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| Sales, R&D spending, capital expenditure and encapsulant capacity for electronics and semiconductors | Not yet confirmed | Not stated in References 1 or 2. This article does not estimate them Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf Reference 2 https://www.henkel.com/resource/blob/2216938/fc11c44023e1fed5781ccfe4ed6ee360/data/2026-henkel-half-year-financial-report.pdf |
| Mentions of PFAS or other individual substance rules | Not yet confirmed | No relevant passage found in Reference 1 Reference 1 https://www.henkel.com/resource/blob/2131544/eae43b38b5da9c89268a532af1dfbe4f/data/2025-annual-report.pdf |
| The framing that Henkel is a general adhesives maker extending into electronic materials, not a semiconductor-materials company | Our calculation | Our own framing, interpreted from the sales split (Reference 1) |
| The three-type classification (general adhesives & chemicals; semiconductor & electronic materials; UV-curing & specialty) and the example companies | Our calculation | Our own classification. Company names are examples from those covered in this series |
| Electronic materials seen as a growth pillar | Inference | Our own interpretation of the ranking of growth rates (References 1 and 2) |
| AI-server and automotive semiconductors in mind | Inference | Our own interpretation of the titles of resources on the semiconductor page (Reference 4). Sales are not disclosed |
| What follows from the separate legal entities, beyond faster decisions | Inference | Our own interpretation of the stated purpose (Reference 1) |
| The nature of the raw materials, integration of large acquisitions and the semiconductor cycle as risks | Inference | Our own interpretation of the expectations and deal sizes (References 1 and 2) |
Last updated 3 October 2026 / Troy Technical
Every figure in this article comes from Henkel's annual report, half-year report and official announcements. No research-firm estimates or press-based figures have been used. Passages marked "Inference" are this article's interpretation of primary sources, not statements made by the company.