The Solder Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Solder Materials Global Market Report 2024, The solder materials market size has grown steadily in recent years. It will grow from $2.03 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to rise in renewable energy electronics, reliability and durability, automotive applications, miniaturization in electronics..
The solder materials market size is expected to see steady growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to supply chain resilience, circular economy initiatives, aerospace and defense applications, advanced medical electronics.. Major trends in the forecast period include industry 4.0 and smart manufacturing, advancements in manufacturing processes, high-speed and high-frequency electronics, sustainable and green solder materials..
The increase in demand from the electronic industry is expected to propel the solder materials market. The electronics industry refers to businesses that create, design, manufacture, and sell equipment such as radios, televisions, stereos, computers, semiconductors, transistors, integrated circuits, and more. Solder is used in the electronic industry to produce a mechanical and electrical joint required to maintain components in the circuit. For instance, in January 2022, according to a vision document published by the Ministry of Electronics and Information Technology, an executive agency of the Union Government of the Republic of India, the electronics industry is anticipated to rise from an estimated US$15 billion in 2021–2022 to US$120 billion by 2026, showing a significant demand for electronics. Therefore, increasing demand from the electronic industry is driving the solder materials market.
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The solder materials market covered in this report is segmented –
1) By Product: Wire, Paste, Bar, Flux, Others
2) By Process: Wave/Reflow, Robotic, Screen Printing, Laser
3) By End-Use Industry: Consumer Electronics, Automotive, Industrial, Building, Others
Technology advancements are a key trend in the solder materials market. Companies operating in the solder materials market are developing various technological advancements for soldering metal alloys to gain a competitive edge in the market. For instance, in June 2022, SAFI-Tech Inc., a US-based manufacturer of lead-free soldering alloys, developed a new super-cooled soldering technique based on SAC305 to address the incompatibility with high temperatures. The micro-encapsulation process develops a new form factor that stabilizes the supercooled liquid phase of SAC305 inside a nanofilm shell. It extends the usefulness of this liquid phase to temperatures well below the alloy’s typical solidification point, enabling it to be applied throughout the entire extended liquid range at temperatures suitable for each product design. This method prevents thermal damage to components and materials while mitigating quality difficulties caused by a coefficient of thermal expansion mismatch.
The solder materials market report table of contents includes:
1. Executive Summary
2. Solder Materials Market Characteristics
3. Solder Materials Market Trends And Strategies
4. Solder Materials Market – Macro Economic Scenario
5. Global Solder Materials Market Size and Growth
….
31. Global Solder Materials Market Competitive Benchmarking
32. Global Solder Materials Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Solder Materials Market
34. Solder Materials Market Future Outlook and Potential Analysis
35. Appendix
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