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Solder Materials Market Size Worth $1.41 Billion by 2025
December 27, 2018 | Grand View Research, Inc.Estimated reading time: 1 minute
The global solder materials market size is anticipated to reach $1.41 billion by 2025 expanding at a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Rising demand for advanced consumer electronics and resultant rise in gadget repair and refurbishing activities is expected to boost the demand for soldering processes. Introduction of lead-free solders due to stringent regulations against the lead toxicity is expected to propel the industry growth over the forecast period. Rising usage of new solid-state semiconductor technologies in consumer and industrial applications is also anticipated to support the market development.
The nano-paste and sub-micron particles are expected to gain traction due to characteristics, such as lower melting point temperatures, large surface energy, large surface area per unit volume, and super magnetism. The usage of low-cost, non-patented alloy formulations in place of patented products is predominant in the industry. However, the use of non-patented alloys may hamper the overall product quality, which is expected to have a negating impact on the industry growth in the years to come.
Further key findings from the study suggest:
- The wire product segment is expected to witness the highest CAGR reaching at $544.6 million by 2025. This growth is attributed to high product demand in component miniaturization in electronic devices
- Solder paste has also witnessed a significant growth owing to advancements in micron- and sub-micron particles
- Usage of solder materials through robotic process generated a revenue of $321.5 million in 2017 as a result of increased automation across various industries, such as industrial manufacturing
- The industry is highly competitive in nature and is driven by innovations and material and technological advancements
- Prominent companies in the global solder materials market emphasize on the production of advanced materials to have a competitive edge over others
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