Consumer electronics segment has erupted in various countries across the world. People of China have semiconductors and circuit boards manufacturing as cottage industry which results in mass production of electronic devices. The manufacturing of these products require tremendous soldering products to complete the production of the electronic devices. Solder flux, which allows to prepare an exceptional soldering surface is in great demand in China.
Looking at this growth, a report by Transparency Market Research states that global solder flux market has maximum potential in Asia Pacific during the forecast period of 2016 to 2024. Moreover, the report also states that the booming automotive industry across the globe is also a key factor that is propelling the growth of global solder flux market in the estimated time frame.
Some of the prominent players of global solder flux market are:
- AIM Metals & Alloys LP
- DUKSAN Hi-Metal Co. Ltd
- STANNOL GmbH
- Heraeus Holding
- Henkel AG & Co. KgaA
Based on the development in automotive industry and growing application of semiconductors in multiple electronic appliances boosts the global solder flux market to bag US$ 367.3 mn by the end of 2024. It is noticeable that at the end of 2015, the global solder flux market stood at US$ 213.2 bn. As a result of this hike in terms of revenue, the global solder flux market is set to witness 6.30% CAGR during the forecast period of 2016 to 2024.
Printed Circuit Boards (PCBs) Remains Dominant Segment
The global population is adopting electronics devices such as computers, smartphones, laptops, and other portable devices. Since the adoption is increasing, manufacturers have been focusing on bringing new products in the market at random pace. With the rising number of these devices, the demand for printed circuit boards has also increased exponentially these days. This further results in the dominance of the segment over other sectors of the global solder flux market in the forecast period of 2016 to 2024.
Progressive Automotive Industry Boosts the Growth
Automotive is one of the biggest end-user industries that drives the growth of global solder flux market in the projected time frame. Since there are multiple electronic component that are to be fitted in a vehicle, it calls for a greater number of soldering equipment. Moreover, ensuring the quality of the soldered component, solder flux have created great demand in recent years in automotive industry. As a result of this rising demand for solder flux in automotive industry, the global solder flux market is experiencing a robust growth in the estimated period of 2016 to 2024.
Asia Pacific Remains the Dominant Region
As mentioned earlier, the China is a massive producer of consumer electronic devices. As a result of growing demand for the solder flux in China and other emerging economies like India, Asia Pacific is expected to remain a dominating region in global solder flux market during 2016 to 2024. However, region of North America that held a sizable share in the growth of global solder flux market, is expected to witness a slight decline of growth. This is because of the high quality standards and stringent regulation complying the safety and security of the user and producers.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Solder Flux Market (Type - Water Soluble and No Clean; Application - Ball Grid Arrays (BGAs)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The global solder flux market is segmented on the basis of:
- Water Soluble
- Ball Grid Array
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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