Selbyville, Delaware, May 21, 2020 (GLOBE NEWSWIRE) -- According to Global Market Insights, Inc., solder flux market size is set to exceed a valuation of $250 million by the end of 2026. The report offers a highly detailed analysis of top winning strategies, prominent investment pockets, market size & estimations, wavering market trends, competitive scenario, and drivers & opportunities.
Rising living standards and growing need for better-quality consumer electronics products like smartphones, smart homes, and office appliances are classified as some of the most prominent factors fueling the growth of the global market. Additionally, increasing incorporation of PCB inside military, consumer electronics, telecommunication, and automotive industries is another determinant pushing the demand for soldering operation, augmenting solder flux market outlook further.
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The segment of water-soluble products is projected to register an impressive CAGR of more than 6.2% over 2020-2026 due to the product’s superior soldering performance. In fact, this type of solder flux exhibits remarkable soldering capabilities and possess immense activity that cleans the surface of the metals readily. Moreover, this kind of flux is also relatively easy to remove completely from the electric circuit board. This flux’s aggressive chemistry, however, causes considerable corrosion across the circuit boards, which requires the use of additional fluxers that re corrosion resistant.
Meanwhile, the other sector, which primarily includes military, and industrial electronics among others. This solder flux market segment is expected to register a substantial CAGR of approximately 7.5% during the projected review period. The product also finds applications across soldering of different electronic circuit boards within military electronic devices to ensure effective impurity removal, along with low voiding and low slump characteristics, as well as zero failure.
Additionally, the rising level of geopolitical tensions across the globe and the increasing need to enhance the capabilities of the military among several nations has significantly grown the size of military expenditure across several economies. The expenditure, among other things, majorly focuses on equipment, which is further propelling the overall solder flux market demand from military electronic systems.
Key reasons for solder flux market growth:
- Growing demand for rosin-based solder flux owing to its exceptional cleaning properties.
- Increasing demand for consumer electronics.
- Rising demand from the APAC electronics manufacturing industry.
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North America represented a considerable industry share in 2019. The region is further slated to account for hold more than 10% of the overall industry by the end of 2026. The growth can be ascribed to the growing need for sophisticated automotive electronic units across the region. Europe is also expected to accumulate substantial returns by 2026.
Prominent industry players active across the solder flux industry include PREMIER INDUSTRIES, KOKI Company Ltd, FCT Solder, INVENTEC PERFORMANCE CHEMICALS, Indium Corporation, Henkel, MacDermid Alpha Electronics Solutions, Shenzhen Tong fang Electronic New Material Co., Ltd., La-Co Industries Inc, and Johnson Matthey among others.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.