Chicago, July 27, 2022 (GLOBE NEWSWIRE) -- Solder Materials Market size is projected to grow from USD 4.1 billion in 2022 to USD 4.9 billion by 2027, at a CAGR of 3.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. The market growth is fuelled by the technological development on printed wiring board and growth in electronics industry. Rising demand of consumer electronics is key growth driver in solder materials market.
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Browse in-depth TOC on “Solder Materials Market”
244 – Tables
46 – Figures
204 – Pages
Lead-free segment to dominate the solder materials market in terms of value during the forecast period.
By type segment include lead-free and with lead. Lead-free segment is projected to account largest market share during the forecast period. This is attributed to the strict regulation on use of lead in electronic products. Lead is harmful for human body and environment and is quickly absorbed into the bloodstream causing health hazard. Lead-free solder are replacement for conventional with lead solder.
Consumer electronics end use industry segment to dominate the solder materials market during the forecast period.
Based on end-use industry, the solder materials market is segmented into consumer electronics, automotive, industrial, building, and others. The consumer electronic segment dominated the overall solder materials market during the forecast period. This is attributed to the broad application of solder materials in the production of electronic devices. The solder joints are needed in manufacturing at the various stages of electronic packaging such as wafer level packaging, module level packaging, and system level packaging throughout the entire manufacture process.
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Asia Pacific is the fastest-growing market for solder materials market during the forecast period.
Asia Pacific is the fastest growing market for solder materials during the forecast period. High economic growth rate, growing manufacturing industries, cheap labor, and global shift of consumption and production capacity from the developed markets to the emerging markets in the region are the factors leading to the growth of the market in the region. Moreover, the demand for high-quality products, and rising population have led to a surge in demand for consumer electronics which is driving the demand for solder materials in the region.
Key Players in Solder Materials Market are:
- Element Solutions, Inc. (US),
- Lucas Milhaupt Inc. (US),
- Qualitek International Inc. (US),
- Fusion Inc. (US),
- Henkel AG & Co. KGaA (Germany),
- Senju Metal Industries Co. Ltd. (Japan),
- Koki Company Limited (Japan),
- Indium Corporation (US) among others.
The study includes an in-depth competitive analysis of these key players in the solder materials market, with their company profiles, and key market strategies.
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