Underfill Market Economic Conditions, Acquisitions, Developments and Forecast by 2027

Transparency Market Research delivers key insights for the underfill market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019-2027. In terms of revenue, the global underfill market is projected to register a CAGR of ~9% during the forecast period.

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Asia Pacific Underfill Market to Register Double Digit Growth over Forecast Period

The Asia Pacific region is a highly lucrative market for players offering underfill material, as it is a noteworthy manufacturing hub. The growing interest in smartphones and automotive MCUs boosts the growth of the underfill market in this region, as the manufacturers of the above mentioned products account for a substantial demand for underfill materials. China is projected to cross US$ 100 Mn by 2021 in the underfill market. This growth can be attributed to the increased support of Chinese Government in the development of the semiconductor industry in the last few years. According to Chinese Semiconductor industry Association (CSIA), high imports of integrated circuit valued over $300 Bn were recorded in 2018. All these factors contribute to the high demand for underfill material over the forecast period of 2019-2027.

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New Entrants to Use Eclectic Approaches in Underfill Market

The microelectronic industry is governed by more complex devices, due to the trending system on chip (SOC) and system in package (SIP). The trends in portable end use market are driving the global underfill material market growth. New companies that strive to penetrate the underfill market are trying to develop processes or materials that guarantee a good output at a reduced cost to establish their presence in the market. If new entrants are well-funded, they can opt for more modern approaches, and try to develop underfill materials and plans that can be used to save overall production cost.

In the flip chip packaging of low-k devices, underfill choice is extremely crucial. Companies are introducing underfill materials that offer better properties for leading edge semiconductors that use low-k inner layer dielectric materials for wafer fabrication. This helps companies to meet the rising demand for underfill material and capture a larger market share. The interference of key suppliers in the underfill market is low, thereby enhancing the scope of growth for small & regional players in the market.

Moreover, being a technology-driven market, the underfill market is expected to be shaped by the recent advancements in the electronic industry. This end-use segment demands underfill products that are compatible with lead-free solder paste material, as a result of the latest trend of sustainability in the electronic industry. Thus, some of the leading manufacturers in the market are offering underfill material products that are compatible with lead free solder paste.

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Underfill Market: Competitive Landscape

TMR has identified some of the key players in the underfill market - Henkel AG & Co. KGaA, Panasonic Corporation, NAMICS Corporation, Nordson Corporation, H.B Fuller, Epoxy Technology Inc., Yincae Advanced Material, LLC, Master Bond Inc., Zymet Inc., AIM Metals & Alloys LP, Won Chemicals Co. Ltd., and Bondline Electronic Adhesives, Inc.

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Manufacturers can leverage the remunerative growth potential offered in the global underfill market. In order to gain the most benefits out of this scenario, key players such as Henkel AG & Co. KGaA and Panasonic Corporation are strengthening their presence in the global underfill market by focusing on collaborations and mergers.

In August 2019, Henkel AG & Co. KGaA partnered with ALPLA to invest more than US$ 130 Mn in infrastructure and equipment for production of new bottle. A few years ago, the company launched a new generation (NCP) underfill material-LOCTITE ECCOBOND NCP to overcome challenges from use of capillary underfill materials in flip chip devices.
In September 2018, Panasonic launched a new underfill product CV5794, which increases the reliability of automotive electronic systems by reinforcing the solder connections between semiconductor packages and printed circuit boards to meet the stringent industry requirements

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