According to our latest market study on “Global Solder Materials Market Forecast to 2030 – COVID-19 Impact and Analysis-by Product, Process and Geography,” the global market accounted for US$ 1,477.2 million in 2019 and is expected to grow at CAGR of 4.0% during 2020 – 2030, to account for US$ 2,255.3 million by 2030.
Strategic Insights
|
Report Coverage |
Details |
| Market Size Value in | US$ 1,477.17 million in 2019 |
| Market Size Value by | US$2,255.30 million by 2030 |
| Growth rate | CAGR of 4.0% from 2020 to 2030 |
| Forecast Period | 2020-2030 |
| Base Year | 2020 |
| No. of Pages | 147 |
| No. Tables | 80 |
| No. of Charts & Figures | 60 |
| Historical data available | Yes |
| Segments covered | Product, and Process |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Soldering is known as a process in which two or more than two items are joined together by melting and then putting a filler metal called solder into the joint. The filler metal used in this process has a lower melting point compared to the adjoining metal. In the past decades, nearly all solders contained lead; however, environmental and health concerns among consumers have increasingly dictated the use of lead-free alloys for electronics and plumbing purposes. Solder is basically used in plumbing, electronics, construction, and metalwork in flashing to jewelry, medical, and musical instruments. Soldering mainly provides reasonably permanent but reversible connections between copper pipes in plumbing systems along with joints in sheet metal objects such as food cans, rain gutters, roof flashing, and automobile radiators. Electronic solder connects electrical wires to devices and electronic components to printed circuit boards. Inside the solder core, there is a material called flux, which helps improve the electrical contact along with mechanical strength. The commonly used solder type for electronics solder is lead-free rosin core solder. This type of solder is mainly made up of a Tin/Copper alloy.
Increasing demand for solder materials from electronic industry to escalate the global solder materials market growth at a CAGR of 4.0%
Rising demand for various smart electronics and the advent of energy-efficient electronics are the major factors expected to drive the growth of solder materials market. Additionally, the rising production of electronic devices or gadgets in developing countries coupled with the presence of a notable electronics aftermarket industry is expected to boost the demand for solder materials during the forecast period. Conventional micrometer solder materials in the paste exhibit several shortcomings, such as high melting temperatures, which may result in undesired stress during the reflow processing, restricted applications, and defects in the joint. This has further led to the introduction of innovative sub-micron and nanoparticle-based solder materials.
Impact of COVID-19 on Solder Materials Market:
The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread across the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, Spain, France, and Germany are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, Approximately 7,482,952 confirmed cases and 419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. China is the global manufacturing hub and is the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic.
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Solder Materials Market: Product
Based on product, the solder materials market is segmented into wire, paste, bar, flux, and others. The wire segment accounted for the largest share of the global market in 2019; whereas, the market for paste is expected to grow at the highest CAGR during the forecast period. Solder wire comprises different types of alloys, or pure tin. As the combinations of metals that comprise solder wire melts at different temperatures, each metal requires a certain type of solder wire to create strong bonds. The most common metals utilized in solder wire are Lead (Pb) and Tin (Sn). Soft solder basically melts in the range of 190−900°F. Lead-free solders are increasingly used to regulatory requirements along with the health & environmental benefits toward avoiding lead-based electronic components. They are mostly used in consumer electronics.
Solder Materials Market: Competitive Landscape and Key Developments
The global solder materials market is concentrated with several well-established players. Fusion Incorporated; Indium Corporation; Kester; KOKI Company Ltd; Lucas-Milhaupt, Inc.; Qualitek International, Inc.; Senju Metal Industry Co., Ltd; Stannol GmbH & Co. KG; Tamura Corporation; and Nihon Genma are among the key players operating in the global solder materials market.
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