Ultra-low Alpha Metals Market Trends, Size, Share and Growth Analysis 2024
Browse Market Research Report: https://www.transparencymarketresearch.com/ultra-low-alpha-metals-market.html
According to the research report, the global ultra-low alpha metal market is expected to be worth US$4.72 mn by the end of 2024 from US$2.53 in 2015. Between the forecast years of 2016 and 2024, the global market is expected to surge at a CAGR of 7.30%.
Asia Pacific Leads the Pack with Flourishing Electrical and Electronics Industry
In terms of geography, the global ultra-low alpha metal market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of all these regions, Asia Pacific is expected to lead the global market as it is poised to acquire a share of 63.81% by 2024. The phenomenal contribution of Asia Pacific to the soaring revenue of the global ultra-low alpha metal market will be due to its flourishing electrical and electronics industry. The usage of lead-free alloys is expected to drive the demand for ultra-low alpha tin in Asia Pacific throughout the forecast period.
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The products available in the global market are ULA tin, ULA tin alloys, ULA lead alloys, and ULA lead-free alloys. The report indicates that ULA lead-free alloys segment held a dominant share in the global market in 2015 due to its widening applications. By the end of 2024, this segment is expected to acquire a share of 41.8% in the overall market, which will be larger than the rest. The demand for ULA lead-free alloys is expected to grow against the backdrop of restrictions pertaining to the usage of heavy meals in electronic products.
Preference for Safer Alloys Augments Demand for ULA Metals
The stern rules such as Restriction on Hazardous Substances (RoHS) Directive that are dissuading the usage of hazardous substances in several electric and electronic equipment has augmented the demand for the ultra-low alpha metal in recent years. The European Union was the first region to accept this directive in 2003, while the world followed suit with a few changes in a few countries. Such directives have coaxed electronic equipment manufacturers to reduce the usage of hazardous materials and replace it with ultra-low alpha metals. Subsequently, it has augmented the demand for alternate alloys that contain lead for the purpose of soldering. Several alloys with silver are also being preferred for soldering despite their expensive pricing as they offer improved process results.
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Fluctuating Prices of Raw Materials to Hamper Sales
The fluctuating prices of raw materials that eventually impact the cost of alloys is expected to hamper the growth of the market. Furthermore, the volatile situation of supply and demand is also expected to restrain the market from achieving its true potential. The demand for the ultra-low alpha metal is determined by exceptionally specific demands of consumers. Therefore, the changing patterns of consumer demands are expected to have a direct impact on the global market.
This review is based on Transparency Market Research’s report, titled “Ultra-low Alpha Metals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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