Solder Materials Market Size to Worth $7.1 Billion by 2032 | CAGR: 4.5%: AMR

Expansion of the automotive industry and advancements in the electronics sector are the factors that drive the growth of the solder materials market

Wilmington, Delaware    , April 08, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, Solder Materials Market by Product (Bar, Wire, Paste, and Others), Process (Wave/Reflow, Screen Printing, Robotic, and Others), and End-use (Automotive, Consumer Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “solder materials market” was valued at $4.6 billion in 2022, and is estimated to reach $7.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032. 

Prime determinants of growth 

The solder materials market is expected to show promising growth potential in the foreseeable future, driven primarily by the increase in demand for electronic devices and advancements in the electronics industry. Despite the challenges posed by the volatility in raw material prices and environmental concerns associated with lead-based solder materials, the solder materials market is poised for significant growth due to the increasing demand for electronic devices and the expansion of the renewable energy sector. 

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Report Coverage & Details: 

  Report Coverage      Details   
  Forecast Period      2023–2032   
  Base Year      2022   
  Market Size In 2022      $4.6 Million   
  Market Size In 2032      $7.1 Million   
  CAGR      4.5 %   
  No. Of Pages In Report      250   
  Segments Covered      Product, Process, End-Use, And Region.   
  Drivers      Expansion Of The Automotive Industry.         Growth Of Electronics Sectors.   
  Opportunity      Renewable Energy Sector Growth.   
  Restraint      Volatility In Raw Material Prices.   

The wire segment to maintain its lead position during the forecast period. 

By product, the bar segment accounted for the largest share in 2022, contributing to more than two-fifths of the global solder materials market revenue, and is projected to maintain its lead position during the forecast period. It is projected to grow at a CAGR of 4.1% from 2023 to 2032. Solder bars are a critical component in the electronics manufacturing process, providing a reliable and efficient method for soldering electronic components onto printed circuit boards and creating strong and durable solder joints. With the increasing demand for electronic devices and the expansion of the electronics industry, the solder bar market is expected to witness significant growth. The transition towards lead-free solder bars and the development of advanced solder alloys will further drive the market growth, offering new opportunities for innovation and product development in the solder materials industry. 

The robotic segment to maintain its lead position during the forecast period 

By process, the wave/reflow segment accounted for the largest share in 2022, contributing to nearly half of the global solder materials market revenue, and is projected to maintain its lead position during the forecast period. It is projected to grow at a CAGR of 4.2% from 2023 to 2032. Wave soldering and reflow soldering are essential soldering processes in the electronics manufacturing industry, each with its own specific applications and advantages. With the increasing miniaturization of electronic devices and the shift towards lead-free soldering, reflow soldering is becoming more widely used for its ability to provide high-quality, reliable solder joints for surface-mount components and fine-pitch components on modern printed circuit boards. 

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The automotive segment to maintain its lead position during the forecast period 

By end-use, the consumer electronics segment accounted for the largest share in 2022, contributing to more than two-thirds of the global solder materials market revenue, and is projected to maintain its lead position during the forecast period. It is projected to grow at a CAGR of 4.4% from 2023 to 2032. Consumer electronics includes a wide range of electronic devices used by individuals in their daily lives, including smartphones, laptops, tablets, televisions, gaming consoles, wearables, and home appliances. Soldering is a crucial process in the manufacturing of consumer electronics, as it is used to assemble and connect the electronic components on printed circuit boards (PCBs). 

Asia-Pacific to maintain its dominance by 2032 

By region, in 2022, Asia-Pacific held the highest market share in terms of revenue accounting for more than half of the global solder materials market revenue and is likely to dominate the market during the forecast period. The same region is projected to grow at a CAGR of 4.7% from 2023 to 2032. The solder materials market in the Asia-Pacific region is witnessing significant growth due to the strong electronics manufacturing industry, technological advancements, government initiatives, and increasing demand for consumer electronics, automotive electronics, and advanced electronic devices. Despite the challenges posed by the volatility in raw material prices and environmental concerns associated with lead-based solder materials, the market offers lucrative opportunities for manufacturers, suppliers, and distributors in the region to capitalize on the growing demand and expand their presence in the fast-growing and dynamic electronics manufacturing industry in the Asia-Pacific region. 

Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/solder-materials-market/purchase-options  

Leading Market Players: – 

  • Indium Corporation 
  •  Alpha Assembly Solutions 
  •  Kester 
  •  Senju Metal Industry Co., Ltd. 
  •  AIM Solder 
  • Weller Tools GmbH 
  •  Nihon Superior Co., Ltd. 
  • MG Chemicals 
  • Balver Zinn 
  • Qualitek International, Inc. 

The report provides a detailed analysis of these key players in the global solder materials market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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