Solder Materials Market Growth Steady at 4% CAGR to Hit $2,255.30 Million by 2030 Global Analysis by The Insight Partners – Covers Impact of COVID-19 Pandemic
The Solder Materials Market Growth driven by the electronic industry; while The Asia Pacific solder materials market is expected to grow at the highest CAGR of 4.2% from 2020 to 2030.
According to our new research study on “Solder Materials Market to 2030 – Global Analysis and Forecast – by Product and Process,” the Solder Materials Market Size was valued at US$ 1,477.17 million in 2019 and is projected to reach US$ 2,255.30 million by 2030; it is expected to grow at a CAGR of 4.0% from 2020 to 2030. Increasing demand from electronic industry and continuous R&D Initiatives is driving the market growth; however, regulations by various authorities upon the solder materials may impede market growth.
Solder Materials Market: Competition Landscape and Key Developments
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.; and Nihon Genma are key companies operating in the global solder materials market. The market leaders are continuously looking forward to tapping prevailing business opportunities by expanding and diversifying their market presence and acquiring new customer bases.
In 2020, KOKI Company Limited has developed a halogen-free solder paste—S3X70-G811—which adopts a specially engineered flux formulation optimized for Type 5 solder powder and possess the ability of air reflow solder of 0402 metric size components.
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In 2020, Indium Corporation made and announcement regarding the development of innovative solder pastes solutions to fit customers’ needs. PicoShot NC-5M is suitable for customers requiring a no-clean halogen-free SAC305 solder paste for their Mycronic jetting systems or add-on and repair modules.
Asia Pacific accounted for the largest share of the global solder materials market in 2019. Asia-Pacific is the largest continent in the world and the companies in this region are known for their solder products. China is dominating the regional market, followed by other countries such as Japan, India, South Korea and others. Several domestic and international companies have a strong foothold in Asia-Pacific. Large investments in the manufacturing and construction sectors largely support the growth of the solder materials market in this region. In addition to a high demand for solder materials from the electronics and automobiles industries, the increasing use of these materials in electric vehicles has been bolstering the global solder materials market growth. The market, by product, is segmented into wire, paste, bar, flux, and others; the wire segment accounted for 37.4% of the market share in 2019. The solder materials market, by process, is segmented into wave/reflow, robotic, screen printing, and laser; the wave/reflow segment is the largest shareholder in the market, and robotic segment is further expected to register the highest CAGR during the forecast period.
Increasing Use of Automatic Soldering Over Manual Soldering Boosting Solder Materials Market Growth
The functioning of automatic soldering machine is based upon the principle to complete the solder process or operation with the help of robotic movement which helps to save labor costs.. Automatic soldering machine can also be categorized as through-hole solder machines or surface mount technology (SMT) solder machines. Automatic solder machines can deliver better results in a much lesser time. The cost associated with the machinery could vary with the service provider.
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Automatic soldering is also known as robotic soldering, and it is highly efficient as robotic workstations require a minimal manual operator interference after they installation and programming. Hence, one trained solder expert can program, supervise, and unload multiple machines, thereby eliminating the cost of advanced training required for each hand solder operator. These systems also possesses High Melting Point (HMP) and are also categorized as lead-free solder. Further, a wide range of hot iron tip sizes and shapes is available for the automated soldering, along with the ability of custom fixtures based on the application. Research and development in the field of soldering are helping to build much better tools and machines.
The COVID-19 outbreak pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns and travel bans, and business shutdowns. The chemical and materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering activities in the chemical and materials industry, which are restraining the growth of various markets related to this industry
Solder Materials Market: Segmental Overview
In terms of product, the paste segment is anticipated to register the highest CAGR in the market during the forecast period; the growth of the market for this segment is attributed to the rising use of solder paste in the manufacturing of printed circuit boards for connecting surface mount components to pads on the board. The paste is applied to the board by stencil printing and jet printing, and the components are put in place through a pick-and-place machine or manually. In terms of process, the wave/reflow segment accounted for 42.2% of the solder materials market in 2019.
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Further, the robotic segment is estimated to register a CAGR of 4.3% in the market during the forecast period. Wave solder is a large-scale solder process through which electronic components are soldered, mainly to a printed circuit board (PCB), to form an electronic assembly. The process is much faster and can create higher quality products, compared to manual soldering of components. Wave solder is used for both through-hole printed circuit assemblies and surface mount.
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