Farmington, April 28, 2023 (GLOBE NEWSWIRE) -- The Global Underfill Market Was Valued At USD 357.8 Million In 2022 And Is Expected To Expand USD 846.9 Million By 2030 at a CAGR Of 8.99% From 2022 To 2030.Key factors driving the growth of this market include the Next-Generation High-reliability Electronics Applications Will Be Driven by Silicone-Free Underfill Materials , Innovative Underfill Materials for the Protection of Fine-Pitch Array Devices are Developed by Businesses.
Asia-Pacific is home to the majority of the world's most renowned semiconductor and other electronic component manufacturers. Therefore, companies in the underfill market are currently seeking new profit opportunities in North America and Europe, where there are still unrealized potentials. On the other hand, manufacturers are focusing more on high-reliability electronics of the next generation. In April 2019, for instance, Henkel AG, a major chemical and consumer products company, announced the release of a silicone-free underfill material for electric vehicles. (EVs). Electric vehicles are gaining in popularity, and the auto industry continues to expand. This expands the options available to manufacturers in the underfill market. New underfill products assist companies in gaining global recognition. Therefore, the top five companies continue to account for 70–75% of the underfill market. Increasing numbers of elite players are attending trade shows to meet potential business partners. Companies in the underfill market are striving to produce reliable products, prioritize sustainability, and enhance the functionality of next-generation electronic devices and systems. Engineers collaborate closely with manufacturers to create underfill materials that are both cost-effective and novel.
In addition, manufacturers are conducting additional research to develop underfill materials that can reliably protect devices in harsh environments. They are enhancing their production abilities in order to produce underfill that safeguards fine-pitch array devices. This will be accomplished with the aid of formulations that are densely filled and can acclimate to extremely high glass transition temperatures.
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Segmentation Overview:
On The Basis of Type:
The underfill material market is segmented by material type into epoxy, polyimide, and others. Epoxy is the most popular underfill material due to its superior properties, including high adhesion, a low thermal expansion coefficient, and excellent hydration. Due to its exceptional dimensional stability and high thermal resistance, polyimide is also used as an underfill material.
On The Basis of Application:
The market is segmented based on application into flip chip and BGA. The segment of flip chips is anticipated to experience the highest CAGR during the forecast period. This is a result of the increasing demand for miniature electronic devices. Geographically, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World categories. Over the forecast period, Asia-Pacific is anticipated to be the dominant market for underfill material. This is attributable to the region's semiconductor industry's growing demand.
Regional Analysis:
The global underfill market has been analyzed in various regions, such as North America, South America, the Middle East, Asia-Pacific, Africa, and Europe. In the near future, the global Underfill market will dominate this market.
Asia-Pacific is the largest underfill market. This is because these materials are utilized extensively in industries outside of China, and the Asia-Pacific technology industry has made significant strides in recent years. In North America and Europe, the underfill market is anticipated to expand as a result of rising demand from manufacturers of compact devices.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 8.99% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 846.9 million |
| By Type |
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| By Application |
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| By Material |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Opportunity Analysis:
A number of promising new avenues for development and expansion exist in the international Underfill market. Consider a few of the most promising prospects:
Market expansion will be driven by the rising demand for high-performance and compact electronic devices
The demand for portable electronics is rising at a rapid rate throughout the globe, particularly in developing nations. Companies want to minimize the size of their electronic products. This can be accomplished by employing underfill materials that are robust and able to withstand greater impact. Utilizing underfill materials also enhances thermal cycling resistance and overall product dependability.
In the electronics industry, smart phone, laptop, and tablet sales increase when consumers desire products with more features. Utilizing underfill materials is essential for the reliability and miniaturization of electronic products. Due to these factors, the underfill market is anticipated to expand significantly over the coming years.
Increasing demand for portable systems in the aerospace and military
During the forecast period, the increased use of electronics in aircraft and the military is anticipated to significantly increase the demand for underfill materials. High dependability and resistance to thermal stress make underfill materials in this field even more valuable.
The increased use of electrical components in automobiles has increased the demand for underfill materials. Underfill materials are typically used to enhance the solder joint stability and thermal cycling at the board level for automotive electronics.
Given how much underfill material is used for wafer level packaging and flip chip packaging, the underfill market is anticipated to grow over the next few years. Because manufacturers of electronic devices want more of these packaging options.
Key Segments Covered:
Top Market Players:
- Henkel
- Won Chemical
- Namics
- Sunstar
- Hitachi Chemical
- Fuji
- Bondline
- AIM Solder
- Zymet
- Panacol Elosol
- Master Bond
- DOVER
- Darbond
- U Bond
- HIGHTITE and Others
By Type
- Semiconductor Underfill
- Board Level Underfill
By Application
- Industrial Electronic
- Defense and Aerospace Electronic
- Consumer Electronic
- Automotive Electronic
- Medical Electronic
By Material
- Capillary Underfill
- No Flow Underfill
- Molded Underfill
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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