Global Solder Materials Market Projected to Grow from USD 4.1 Billion to USD 4.9 Billion by 2027, Reports Research and Markets
The global solder materials market is projected to grow from USD 4.1 billion in 2022 to USD 4.9 billion by 2027, at a CAGR of 3.8% from 2022 to 2027. The growth of the solder materials market is attributed to their high demand in consumer electronics, automotive and others industries.
Solder bar segment to be the largest product of solder materials
Solder bar melted into solder pots can be a faster, more automated method of soldering than hand-soldering with solder wire. Solder pots that have a pump creating a wave are called wave solder machines, solder fountains, or selective solder machines. Solder bar is used in various applications, including high-tech electronics and printed circuit boards.
Automotive to be the second-largest segment during the forecast period
Soldering materials are used for armatures, radiators, wire harnesses, car electrical systems and other parts required in the automotive industry. Strong alloys are commonly used in this industry. Soldering materials are not only used in new vehicle assembly but are also used in the repair and rework of damaged electronic components in vehicles.
Europe to be the second-largest market for solder materials
Emerging Europe is the second-largest market for solder materials, accounting for a share of 16.8%, in terms of value, in 2021. Henkel (Germany) is the leader of solder materials in the European region, as well as globally. The European automotive sector is proposing a plan comprising 25 actions to support a strong recovery of the sector and the economy of the region. As part of the action plan, the sector calls for coordinated vehicle-renewal schemes for all vehicle types and categories across the EU. This action is intended to boost private and business demand, support economic recovery across the board as well as accelerate the rejuvenation of the vehicle fleet on Europe’s roads.
This study has been validated through primaries conducted with various industry experts worldwide.
These primary sources have been divided into 3 categories, namely by company, by designation, and by region.
- By Department- Sales/Marketing – 46.7%, Production – 30%, CXOs – 23.3%
- By Designation- Managers – 55.7%, CXOs – 23.3%, Executives- 21%
- By Region- North America- 30%, Europe- 23%, Asia Pacific- 27%, and Rest of World – 20%
The solder materials market comprises major manufacturers, The key players in the solder materials market are Element Solutions, Inc. (US), Lucas Milhaupt Inc. (US), Qualitek International Inc. (US), Fusion Inc. (US), Henkel AG & Co. KGaA (Germany), Senju Metal Industries Co. Ltd. (Japan), Koki Company Limited (Japan), Indium Corporation (US), and others. The study includes an in-depth competitive analysis of these key players in the solder materials market, with their company profiles, and key market strategies.
The report covers the solder materials market based on type (With lead, lead-free), product (wire, bar, paste, flux, others) process (Wave/reflow, screen printing, laser, robotic) End-Use Industry (consumer electronics, automotive, industrial, building, Others), and region. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the solder materials market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.