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Global Underfill Material Market to Gain Traction with Rising Number of Applications
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A remarkable rise in the demand for mobile and other electronic products and the rising application of underfill material from the aerospace and military end-users are some of the major factors that are estimated to encourage the growth of the global market throughout the forecast period. In addition to this, the rising popularity of copper pillars and the entry of new players are likely to generate promising growth opportunities throughout the forecast period. On the other hand, the high cost of research development activities and the downward pricing pressure are anticipated to restrict the growth of the overall market in the coming years.
On the basis of product, the global underfill material market has been classified into molded underfill material (MUF), no flow underfill material (NUF), and capillary underfill material (CUF). Furthermore, on the basis of application, the market can be divided into ball grid array, flip chips, and chip scale packaging. The number of applications is expected to rise significantly in the coming years, thus encouraging the growth of the market. The market share and the expected growth rate of each segment have been given in the scope of the research study.
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Among the key regional segments, Asia Pacific is anticipated to witness a promising growth throughout the forecast period. The high growth of this region can be attributed to the rising adoption of these materials in diverse industries. In addition to this, the increasing contribution from India and China are estimated to accelerate the growth of the underfill material market across Asia Pacific in the next few years. Furthermore, North America and China are projected to witness substantial growth throughout the forecast period.
The research study further offers a detailed overview of the competitive scenario of the global underfill material market. The company profiles, business strategies, financial overview, and SWOT reports of the leading players have been provided in the scope of the research report. Some of the prominent players operating in the underfill material market across the globe are AIM Metals & Alloys LP, Yincae Advanced Material LLC, Epoxy Technology, and Won Chemicals Co. Ltd. These players are emphasizing on the research and development activities to attract new consumers and attain a leading position in the global market.
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