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Good Growth Opportunities in Global Leadframes Market till 2024
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The leadframe market is primarily driven by the strong demand of electronics and electrical in consumer electronics equipment. Growing usage of equipment in day to day activities is expected to boost the demand of consumer electronics which is anticipated to drive the demand of global leadframe market. Leadframe are rapidly being used in automotive sectors for variety of application purposes which is anticipated to drive the global leadframe market. The growing use of technology in healthcare, pharmaceutical, industrial automation is anticipated to drive the demand and consumption of the global leadframe market. Global leadframe market is facing challenging times due to the sluggish growth in automotive sector which is one of the leading contributor of the leadframe demand.
The opportunity for the global leadframe market lies in rapidly growing consumer electronics and telecommunications. Growing urban population, increasing per capita expenditure and better-quality lifestyle anticipations of middle income population group is expected to be the key factor, depending on which global leadframe market to unfold huge opportunity and growth.
The global leadframe market is segmented on the basis on the basis of manufacturing process, layer, application and geography. On the basis of manufacturing process the global leadframe package is segmented into photo etching, stamping and others. The selection of the manufacturing process is based on the volume of production. Photo etching is primarily used for low and medium range of production volumes. The high volume production are preferred by stamping process. On the basis of layer the global leadframe market is segmented as single layer leadframe, Dual layer leadframe and multilayer leadframe, On the basis of application the global leadframe market is segmented into consumer electronics equipment, commercial electronic equipment, industrial electronics equipment, automotive and others.
On the basis of geography the global leadframe market is segmented into segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. Asia Pacific is anticipated to be major market in terms of volume and value for the global leadframe market. The strong demand in Asia pacific regions especially in China, Japan and Korea due to its extensive electronics equipment manufacturing practices is anticipated to contribute highly in the global leadframe market. Followed by Asia North America is anticipated to be the leading market for the global leadframe market primarily driven by large and rapidly growing consumer base. The Europe is also anticipated to be a significant contributor especially driven by growth in leadframe application sectors such automotive and industrial automation equipment manufacturing practices. The Middle East and Africa is anticipated to show the sluggish growth which over the forecasted period.
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Some of the key participants of the global leadframe market are NINGBO HUALONG ELECTRONICS CO.,LTD., Wasion Group Holdings Limited., Kangqiang Electronics Co., Ltd, Ningbo Kangqiang Micro-Electronics Technology Co.,Ltd, Sumitomo Metal Mining Co., Ltd., Hitachi Cable, Ltd., Kitsuda Sdn. Bhd., Veco B.V, Mitsui High-tec, Inc., SHINKO ELECTRIC INDUSTRIES CO.,LTD., STATS ChipPAC Ltd., Amkor Technology and others.
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