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Solder Materials Market: Analysis of Size, Share, Trends, and Growth Report
Solder Materials Global Market Report 2024
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According to The Business Research Company's, The solder materials market size has grown steadily in recent years. It will grow from $2.03 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to rise in renewable energy electronics, reliability and durability, automotive applications, miniaturization in electronics.
The solder materials market size is expected to see steady growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to supply chain resilience, circular economy initiatives, aerospace and defense applications, advanced medical electronics. Major trends in the forecast period include industry 4.0 and smart manufacturing, advancements in manufacturing processes, high-speed and high-frequency electronics, sustainable and green solder materials.
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Market Drivers and Trends:
The rise in the impending need of microelectronic devices is expected to propel the growth of the solder materials market going forward. Microelectronic devices are electronic devices and components that are built on a small scale, typically at the micrometer or nanometer level. Solder materials are extensively used in the production of these microelectronic devices, as they provide the electrical and mechanical connection between the silicon die and the bonding pad in a device. For instance, in 2021, according to the U.S. Department of Energy, an executive department of the U.S. federal government allocated nearly $54 million for 10 new projects led by DOE's national laboratories to increase energy efficiency in microelectronics design and production. Therefore, the rise in the impending need of microelectronic devices is driving the solder materials market growth during forecast period.
Technology advancements are a key trend in the solder materials market. Companies operating in the solder materials market are developing various technological advancements for soldering metal alloys to gain a competitive edge in the market. For instance, in June 2022, SAFI-Tech Inc., a US-based manufacturer of lead-free soldering alloys, developed a new super-cooled soldering technique based on SAC305 to address the incompatibility with high temperatures. The micro-encapsulation process develops a new form factor that stabilizes the supercooled liquid phase of SAC305 inside a nanofilm shell. It extends the usefulness of this liquid phase to temperatures well below the alloy's typical solidification point, enabling it to be applied throughout the entire extended liquid range at temperatures suitable for each product design. This method prevents thermal damage to components and materials while mitigating quality difficulties caused by a coefficient of thermal expansion mismatch.
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Major Key Players of the Market:
Lucas-Milhaupt Inc., Henkel AG & Co. KGaA, Senju Metal Industries Co. Ltd., Koki Company Limited, Indium Corporation, Kester, Alpha Assembly Solutions, Nihon Superior Co. Ltd., Heraeus Holding GmbH, AIM Metals & Alloys LP, Qualitek International Inc., FCT Assembly Inc., Tamura Corporation, DUKSAN Hi-Metal Co. Ltd., Balver Zinn Josef Jost GmbH & Co. KG, MG Chemicals Ltd., Nihon Handa Denki Co. Ltd., Nihon Genma Manufacturing Co. Ltd., Nihon Almit Co. Ltd., Yashida Corporation, Tongfang Tech Co. Ltd., Shenzhen Bright Technology Development Co. Ltd., Shenzhen Jufeng Solder Co. Ltd., Shenzhen Xinqiao Automation Co. Ltd., The Indium Corporation, Indium Corporation, Eutectic Gold/Tin Solder, Liquid Metal - Gallium and Gallium Alloys, NC-10HF Flux Coating for Solder Preforms, Nitinol Soldering Kit, No-Clean Fluxes for Coating Solder Preform
Solder Materials Market 2024 Key Insights:
• The solder materials market size is expected to see steady growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%.
• Rise In Demand From The Electronic Industry
• Development Of Super-Cooled Soldering Technique
• Asia-Pacific was the largest region in the solder materials market share in 2023
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