The increasing demand for smart electronics and energy proficient gadgets are driving the need for the market.
The global Solder Material market is forecast to reach USD 1.49 Billion by 2027, according to a new report by Reports and Data. The demand for soldering materials is expected to be powered mainly by the growth in the computer refurbishing field. Expanded development of mobile devices in various regions, coupled with the advent of a phenomenal mobile aftermarket industry, is expected to lead to the growth of such materials in the coming years. Automation is effective; soldering procedures are expected to improve demand over the projected period. Moreover, extensive R&D for the manufacture of advanced solder materials is anticipated to boost the market growth.
Due to its toxic nature, various governments worldwide have placed a strong emphasis on the replacements of lead soldiers. A low lead-based solder, however, is an environmentally compatible substitute that can be utilized until regulatory agencies impose a full ban. Development in the use of these low-lead materials would improve business expansion. A presentation without lead fastens due to strict regulations against the lead hazard is necessary to escalate the growth over the following years. Increasing the use of new substantial state semiconductor advances in purchasers is also anticipated to help strengthen the market.
Conventional micrometer soldering products in the paste have many drawbacks, like high melting temperatures, which can lead to unwanted stress while reflowing production, limited applications, and joint defects. This has led to the creation of numerous solder materials based on sub-microns and nanoparticles. Though due to the toxic nature of the content, the growth of the market might be impeded.
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Key participants include Kester, Lucas Milhaupt, Inc., Qualitek International, Inc., Fusion, Inc., Senju Metal Industry Co., Ltd., Koki Company ltd., Indium Corporation, Tamura Corporation, Nihon Genma, and Stannol GmbH & Co. KG, among others.
The COVID-19 impact:
The market has experienced a downturn over the weeks, which may continue over the next few months. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries changed. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downside for the period. Still, with the developing electronic sector, the demand would be hitting the roof as soon as there is a development in the condition.
Further key findings from the report suggest
The APAC is projected to escalate with an anticipated CAGR of 5%, the market in the developing nations like China and India, and is growing due to the growing construction sector. Government initiatives for urbanization and industrialization have brought about fast expansion in the country’s manufacturing sector, which will positively affect regional growth.
North America is the second-biggest market for soldering materials after the Asia Pacific due to rapidly increasing semiconductors and electronics. The U.S. soared as the largest market for soldering components in North America in 2019. This has been credited with the introduction of the country’s refurbishing business.
Wave/reflow established as the most significant process segment, and in 2019 was valued at USD 0.45 billion. It is among the commonly used soldering techniques in the electronics industry as it overheats the impact.
Solder Paste industry is a sector of low concentration. As the computer foundry industry moves to China mainland, many new competitors enter this sector, and a substantial part of the demand accounted for by small businesses.
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For the purpose of this report, Reports and Data have segmented into the global Solder Material market on the basis of product, process, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Process Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Machinery & Equipment
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Regional Outlook (Revenue, USD Billion; 2017-2027)
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