Rockville, MD , Sept. 19, 2024 (GLOBE NEWSWIRE) -- As analyzed in the newly published report by Fact.MR, a market research and competitive intelligence provider, the global market for Electronic Board Level Underfill and Encapsulation Material Market is valued at US$ 386.3 million in 2024 and is forecasted to expand at a CAGR of 6.9% to reach US$ 752.8 million by 2034.
Electronic board-level underfill and encapsulation materials are becoming increasingly in demand with their widespread application. These materials are essential for the production of modern electronics because they safeguard and improve the functionality of printed circuit boards and other electronic components.
The demand for dependable protection against environmental elements, mechanical stress, and temperature problems has increased as technology develops and gadgets get smaller and more complicated. Effective solutions to these problems include underfill and encapsulation materials used in medical devices, automobile electronics, cellphones, aerospace systems, wearables, and other developing technology.
Manufacturers all around the world are using these materials more frequently because of their capacity to increase dependability, prolong the life of products, and facilitate creative designs. Further, market growth is also positively impacted by an increased emphasis on sustainability and the requirement for robust electronics in challenging settings. The need for these adaptable materials is also growing across several sectors, such as electronics.
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Key Takeaways from Market Study:
- The global electronic board level underfill and encapsulation material market is forecasted to make a revenue of US$ 752.8 million by 2034.
- The market in the United States is approximated to advance at a CAGR of 7.5% between 2024 and 2034, with a projected share of 74.6% of the North American market by the end of 2034.
- The East Asian market is estimated to reach a valuation of US$ 289.1 million by 2034.
- The market in South Korea in East Asia is evaluated to hold a share of 15.4% in 2024.
- Among all the products available in the market, underfill sales revenue is projected to expand at a CAGR of 6.7% between 2024 and 2034.
“Wearable technology coupled with the integration of IoT devices is contributing to the increased popularity of electronic board level underfill and encapsulation materials,” says a Fact.MR analyst.
Leading Players Driving Innovation in Electronic Board Level Underfill And Encapsulation Materials Market:
Dymax Corporation; Panasonic Corporation; Protavic International; YINCAE Advanced Materials, LLC; AI Technology, Inc.; Indium Corporation; H.B. Fuller Company; The Dow Chemical Company; ELANTAS GmbH; Zymet; Sanyu Rec Co., Ltd.; Epoxy Technology, Inc.; Namics Corporation; ASE Group; MacDermid Alpha Electronic Solutions; Parker LORD Corporation; Henkel AG and Co. KGaA.
Emerging Eco-Friendly Alternatives with Improved Technologies Escalating Market Growth:
Improved thermal conductivity is now possible with advanced formulations, enabling better heat management in high-performance devices. This discovery is especially important for the expanding 5G and AI businesses, where heat dissipation is a major problem. Another innovative breakthrough that offers improved mechanical strength and thermal performance in ultra-fine pitch applications is nano-filled underfills. These materials are making it possible to produce more potent and smaller devices in several industries.
Emerging green alternatives are tackling environmental issues and complementing international sustainability programs. The carbon footprint of electronic manufacturing processes is decreased by these environment-friendly substitutes without making any compromise on performance.
Fast-curing materials are also introduced, which is optimizing production lines and cutting costs and manufacturing times significantly. Large-scale manufacturers are particularly drawn to this efficiency improvement. The market's potential is being increased by these advances, and thereby are also attracting new investors who understand how important these materials are to the advancement of electronic technology. As a result, the market for underfill and encapsulating materials is expanding quickly and has more funding.
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Regional Insights:
The United States market is poised for expansion, driven by the strong presence of several technological companies, particularly in sectors like smartphones and laptops. These devices heavily rely on electronic boards, which has attracted suppliers to actively grow their business in this field. The increasing smartphone user base further strengthens the foundation for electronic board manufacturers to capitalize on the demand.
Additionally, government reforms are easing export regulations, making international trade more accessible and profitable. These changes are opening new opportunities for manufacturers to boost their profit margins, contributing to the market's projected growth from US$ 79.1 million in 2024 to US$ 163.5 million by 2034, with a 7.5% CAGR.
Segmentation of Electronic Board Level Underfill and Encapsulation Material Market Research:
By Type :
- Underfills
- Capillary
- Edge Bonds
- Gob Top Encapsulations
By Material :
- Quartz/Silicone
- Aluminia
- Epoxy
- Urethane
- Acrylic
- Others
By Board Type :
- CSP (Chip Scale Package)
- BGA (Ball Grid Array)
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