Solder Materials Market 2021| Global Size, Share, Industry Growth and Recent Trends by Forecast to 2027

Solder materials market was valued at US$ 1,477.17million in 2019 and is expected to grow at a CAGR of 4.0% from 2020 to 2030 to reach US$2,255.30million by 2030.

Soldering is known as a process in which two or more than two metalsare joined together by melting and followed by placing a filler metal, called solder, into the joint. The filler metal used in the process has a lower melting point compared to the adjoining metal. In the past decades, nearly all solders contained lead; however, environmental and health concerns among consumers have increasingly dictated the use of lead-free alloys for electronics and plumbing purposes. Solder is used in electronics, plumbing, construction, and metalwork in flashing to jewelry, medical, and musical instruments. Solder mainly provides reasonably permanent but reversible connections between copper pipes in plumbing systems along with joints in sheet metal objects such as food cans, rain gutters, roof flashing, and automobile radiators. Electronic solder connects electrical wiring to devices and electronic components to printed circuit boards.

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The global solder materials market in Asia Pacific is expected to grow at the highest CAGR of 4.2% from 2020 to 2030.High demand for soldermaterials along with the consumer shift toward smart electronic products in this region is creating a strong base forsolder materials market. With such a considerable growth, Asia Pacific is going to be the most attractive region for solder materials market during the forecast period.

The COVID-19 outbreak, whichbegan in Wuhan (China) in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, Spain, France, and Germany, are amongthe worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, approximately 7,482,952 confirmed cases and 419,497 deaths have been reported globally. The outbreak has affectedeconomies and industries due to lockdowns, travel bans, and business shutdowns. Chemicals and materialsis one the world’smajor industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic.China is the global manufacturing hub and is the largest raw material supplier for various industries;however, it is also one of the worstaffected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adverselyimpacting the manufacturing and sales of various chemical and materials. The overall market break down due to COVID-19 is also affecting the solder materials market growth due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

Market Insights

Increasing Demand from Electronic Industry Favors Solder Materials Market Growth Globally

Rising demand for various smart electronics and the advent of energy-efficient electronics are  the major factors to drive the growth of solder materials market. Additionally, the rising production of electronic devices or gadgets in developing countries coupled with the presence of a notable electronics aftermarket industry is expected to boost the demand for solder  materials. Conventional micrometer solder materials in the paste exhibit several shortcomings, such as high melting temperatures, which can result in undesired stress during the reflow processing, restricted applications, and defects in the joint. This has further led to the introduction of innovative sub-micron and nanoparticle-based solder materials. Hence, these advancements in the electronic refurbishing sector are likely to propel the growth of the global solder materials market. There are various types of solder materials used in the electronic industry, such as lead-free solder, solder wire, solder ball, and solder bar. Lead-free solders are increasingly usedin almost all applications owing to regulatory requirements along with the health & environmental benefits towards avoiding lead-based electronic components. They are mostly used in consumer electronics. For electrical & electronics work, solder wire is available  with a range of thicknesses for hand-solder and with cores containing flux.

Company Profiles

  • Fusion Incorporated
  • Indium Corporation
  • Kester
  • KOKI Company Ltd
  • Lucas-Milhaupt, Inc.
  • Qualitek International, Inc.
  • Senju Metal Industry Co., Ltd.
  • Stannol GmbH & Co. KG
  • TAMURA Corporation
  • Nihon Genma

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