Underfill Material Market - Asia Pacific to Assume Lead as China Exhibits High Demand for Underfill Materials
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It is likely to offer them with lucrative progress avenues in several novel fields of electronics packaging such as 3D systems, micro-mechanical devices, and power devices. With sufficient investment, many market players are going forth with unconventional techniques in order to engineer advanced products with collaborative designs. This further decreases the total cost of production and also aids them harvest attractive margins.
According to a TMR analyst, “The global market for underfill materials is anticipated to exhibit an 8.3% CAGR from 2016 to 2024. In 2016, the market was worth US$236.5 mn and is projected to touch a valuation of US$448.3 mn by the end of 2024.” On the basis of application, the market for underfill materials has been segmented into flip chips, chip scale packaging, and ball grid array. Amongst these, the market was reigned by the segment of chip scale in 2016 with a share of 52.6% in the same year. This segment is likely to gain impetus over the years owing to the growing demand for miniaturization in several electronic devices. Region-wise, the market is likely to witness Asia Pacific rising at a substantial CAGR of 9.7% over the course of the forecast period.
Growing Focus on Miniaturization to Accelerate Sales
The demand for underfill materials is principally determined by the requirement for the miniaturization of electronic gadgets, small sizes of products, lifted electrical performance, and enhanced interconnect densities. The requirement for enhancing the dependability of flip chip packages among semiconductor producers is a key factor empowering the demand for underfill materials crosswise over different industries. The utilization of underfill materials has been recorded to offer a few advantages to electronics packaging, for instance, stress on the solder bumps, enhanced resistance in terms of thermal cycling, and high design of chip footprint, thus enhancing the reliability of several flip chip items. This is a key factor pushing the sales of underfill materials. Likewise, the drive for littler and more sturdy printed circuit boards to be utilized as a part of cutting edge embedded systems consumer mobile gadgets has catalyzed the market. The taking off demand for smartphones and tablets in many developed and developing regions is relied upon to look good for the development of the underfill materials market.
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Regional Competition Might Slow Down Uptake
Notwithstanding, the requirement for inexpensive packaging solutions in a few regions is influencing the overall revenues of producers. This is an essential factor liable to obstruct the market to a degree. In any case, the thriving demand for portable electronic gadgets with better usefulness in the military and aerospace sectors is relied upon to make energizing prospects for market players in the coming years. The growing budgets on defense in many developed and developing countries is relied upon to certify this demand, consequently complementing the underfill materials market over the gauge time frame. Moreover, a few sellers are progressively solidifying their supply chains to support the advancement of creative items in the underfill materials market.
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.
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