Global Solder Materials Market Competitive Landscape, Growth Rate And Top Market Segments
24 May, 2023
The global solder materials market size is expected to grow from $1.93 billion in 2022 to $2.01 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The solder materials market is expected to grow to $2.35 billion in 2027 at a CAGR of 4.0%.
Global Solder Materials Market Key Driver
The increased demand from the electronic industry is expected to propel the solder materials market. The electronics industry includes companies that create, design, manufacture, and sell products such as radios, televisions, stereos, computers, semiconductors, transistors, integrated circuits, and more. In the electronic industry, solder is used to create a mechanical and electrical joint that is required to keep components in the circuit connected. For instance, in January 2022, according to a vision document published by the Ministry of Electronics and Information Technology, an executive agency of the Union Government of the Republic of India, the electronics industry is anticipated to rise from an estimated US$15 billion in 2021–2022 to US$120 billion by 2026, showing a significant demand for electronics. Therefore, increasing demand from the electronic industry is driving the solder materials market.
Get a sample of the global solder materials market reportGlobal Solder Materials Market Segments
The global solder materials market is segmented:
1) By Product: Wire, Paste, Bar, Flux, Others
2) By Process: Wave/Reflow, Robotic, Screen Printing, Laser
3) By End-Use Industry: Consumer Electronics, Automotive, Industrial, Building, Others
4) By Geography: The regions covered in the solder materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accountsfor the largest share in the global solder materials market.
Major Solder Materials Industry Players
Lucas-Milhaupt Inc., Henkel AG & Co. KGaA, Senju Metal Industries Co. Ltd., Koki Company Limited, Indium Corporation, Kester(ITW), NIHON GENMA MFG.CO.LTD., Stannol GmbH & Co. KG, Tamura Corporation, Fusion Incorporated, Accurus Scientific Co. Ltd., Element Solutions Inc., AIM Metals & Alloys LP, Duksan Hi-Metal Co. Ltd., Kawada Industries Inc., and DEHON Group (Inventec).
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Solder Materials Market Overview
Solder materials are metal alloys that are used in the soldering process. Soldering is a metal-joining procedure in which solder is melted at extremely high temperatures to form a strong bond.
Solder Materials Global Market Report 2023 provides data on the global solder materials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The solder materials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.