Pune, India., April 25, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Soldering in Electronics Assembly Market Growth Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product," the market is expected to grow from US$ 2,001.96 million in 2023 to US$ 2,624.71 million by 2028; it is estimated to register a CAGR of 5.6% from 2023 to 2028.
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Soldering In Electronics Assembly Market: Competitive Landscape and Key Developments
Lucas-Milhaupt, Inc; GENMA Europe GmbH; S-Bond Technology; Fusion Incorporated.; Indium Corporation; KOKI Company Ltd; SUPERIOR FLUX & MFG. CO.; MacDermid Alpha Electronics Solutions; Nathan Trotter & Co., Inc.; and AIM Metals & Alloys LP are among the key soldering in electronics assembly market players profiled in the study.
In March 2023, AIM Solder, a leading global manufacturer of solder assembly materials for the electronics industry, announced the release of its newest halogen-free no clean solder paste, H10. H10 offers exceptional fine feature printing, improved electrochemical reliability, and powerful wetting.
In 2021, electronics manufacturing services provider Foxconn Technology Group and semiconductor company MediaTek announced a collaboration to develop new 5G solutions for smart manufacturing and Industry 4.0 applications. This collaboration could lead to new advancements in the soldering electronics industry.
With the introduction of Industry 4.0 in manufacturing, the adoption of automation for mass customizations plays a crucial role in large-scale production in a shorter time. Robots provide precision in soldering products in electronic assembly and improve overall productivity. Market players such as PROMATION INC. USA, TM Robotics, and Fancort Industries Inc. provide soldering robots and machinery to reduce the downtime of the production process and provide accurate results. The adoption of robotics for automation in soldering in electronics assembly contributes to the soldering process's production output, propelling the soldering in electronics assembly market growth.
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Robotic soldering also plays an important role in optimizing printed circuit board (PCB) assembly to reduce and eliminate human error. The controlled and repeatable process increases the productivity and profitability of the PCB assembly process. Thus, there is a rise in the adoption of soldering robots by companies. For instance, in February 2018, Z-AXIS, Inc. adopted a US$ 42,000 Apollo Seiko J-CAT Stellar automated soldering system to its manufacturing facility in New York. This system helped the company to expand its capabilities for selective soldering of printed circuit board (PCB) assemblies. Further, Indium Corporation manufactures flux-cored solder wire with the help of soldering robots. In July 2022, Indium Corporation partnered with SAFI-Tech to develop no-heat and low-heat solder and metallic joining products, where the Indium Corporation can use its soldering robots to manufacture the newly developed products.
Thus, the adoption of robotics is soldering in electronics assembly market trend.
North America is estimated to be the second most dominant region in the global soldering in electronics assembly market in 2023. North America has a presence of several electronics manufacturers, such as Apple Inc, Intel Corporation, Plexus Corp., and Creation Technologies LP. These companies are focused on the constant development of new and technologically advanced electronic products, which is significantly increasing the demand for soldering in electronics assembly, thereby contributing to the soldering in electronics assembly market growth. Moreover, soldering in electronics assembly market players in North America are Lucas-Milhaupt Inc, S-Bond Technologies LLC, Fusion Inc, Indium Corp, and Superior Flux & Manufacturing Co., among others. These companies are involved in the development of advanced soldering products, which is contributing to soldering in electronics assembly market growth.
Soldering In Electronics Assembly Market: COVID-19 Overview
The onset of the COVID-19 outbreak severely affected the soldering in electronics assembly industry across the globe. The outbreak hampered the operations of manufacturing industries as their facilities were shut down to prevent the spread of COVID-19, which directly impacted import and export activities. The automotive industry in North America has a potential influence on the region's economy. The operations of the automotive industry were temporarily stopped, which hampered the business dynamics in the first half of 2020. According to United Nations Conference on Trade and Development (UNCTAD), North America experienced a decline in auto exports in 2020 compared to 2019. In March 2020, American Honda Motor Co., Inc. announced that it had discontinued production in the North America, due to which the company experienced a production loss of ~40,000 vehicles. The COVID-19 pandemic disrupted exports of parts and interrupted large-scale manufacturing in North America. Furthermore, assembly plants in the US were shut down. According to a study by Wipro, the global sales of passenger cars fell to 60.5 million units in 2020 from 79.6 million units in 2017. The decline in the production of passenger cars impacted the manufacturing and supply of automotive electronics. Disruption in the supply chain due to travel restrictions was limiting supply and production activities, including soldering for automotive electronics assembly, during the pandemic. However, since 2021, the automotive industry has started recovering rapidly. Factories and many manufacturing plants are nearly back to production levels before the pandemic. The restart of the manufacturing units of the automotive sector contributed to the demand for soldering for component assembly in automobiles. This factor contributed to the recovery of the soldering in electronics assembly market.
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Soldering In Electronics Assembly Market: Product Overview
Based on product, the global soldering in electronics assembly market is segmented into wire, paste, flux, bar, and others. Soldering in electronic assemblies is widely used across automotive, aerospace, HAVC, pharmaceutical, and consumer electronics industries, among others, to form electrical connections by joining wires to printed circuit boards (PCBs). Rising production of electronics, growing industrialization, improving communication and networking, and growing electrification of vehicles are among the factors contributing to the demand for soldering. Additionally, lead-free solders have become much more common due to new legislation and tax benefits regarding lead-free solder products. In 2006, European Union (EU) effectively prohibited the intentional use of lead solders in European-made consumer electronics.
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