Solder Paste Market: Introduction
- Solder paste, also known as solder cream, is used to connect leads on surface mounted integrated circuit chips to attachment points on printed circuit boards, which are commonly used in all electronic devices
- It is generally applied as a paste through stencil or dispensing tubes on the leads on printed circuit boards, followed by heating the paste in order for it to melt and fuse the connection. Soldering paste is an important ingredient in the electronic circuit manufacturing industry. In terms of physical appearance, it is a gray putty-like material.
- Solder pastes are available in different compositions depending upon their end-use requirements. Common solder pastes include tin-lead alloy, tin-silver-copper alloy, and tin-antimony alloy.
Drivers of Solder Paste Market
- Rise in demand for solder paste in electronic manufacturing services is boosting the solder paste market. The market has especially witnessed a bullish run since the last two decades. It is expected to expand further with the penetration of information technology.
- Solder paste is essential for all printed circuit boards and semiconductors. Printed circuit boards are used in almost all electronic devices including computers, laptops, smart phones, tablets, televisions, medical testing equipment, fiber optic receptors, nuclear detection systems, data storage devices, and weather analysis equipment. Printed circuit boards are also used in automotive, marine vehicles, and aerospace industries for electronic functions. Traditional single layer printed circuit boards are gradually evolving into multilayer printed circuit boards with extensive functionality. Technological advancements in the PCB market is expected to drive the demand for solder paste in the near future.
Restraints of Solder Paste Market
- Dearth of universal directives pertaining to applications of solder paste is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of solder paste. Companies find it difficult to deal with these country-wise regulations. This is discouraging the investment in the solder paste market, thereby restraining the market.
COVID-19 Impact on Solder Paste Market
- The COVID-19 outbreak is hampering the demand for solder paste in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in demand for solder paste across the globe.
- Key players operating in the solder paste market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials.
Asia Pacific to Hold Major Share of Solder Paste Market
- In terms of geography, the solder paste market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa and Latin America
- The global outlook for electronic equipment and applications holds promise, as consumer electronics has exhibited tremendous growth over the past decade and is expected to continue to rise in the near future. This presents significant opportunities for the solder paste market, especially in the developing regions of Asia Pacific, Latin America, and Africa.
- In terms of demand, China accounts for the major share of the global solder paste market. China is the largest producer of electronic devices and ancillary parts in the world. Rise in export-oriented electronics manufacturing services in China is the key factor boosting the demand for solder paste in the country. China is also the largest manufacturer of solder paste in the world. Asia Pacific accounts for more than 50% share of the global demand for solder paste, led by China, Japan, South Korea, and India.
Solder Paste Market: Key Players
Major players operating in the solder paste market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- SMT International LLC
- AIM Metals and Alloys, LLC
- Chung I Silver Solder Co., Ltd.
- Ku Ping Enterprise Co., Ltd.
- Shenmao Technology Inc
- Chemco Industry Corporation
- Dyfenco Electronic Chemical Corporation
Global Solder Paste Market by Product Type
- Rosin Based Pastes
- Water Soluble Pastes
- No-clean Pastes
Global Solder Paste Market by Application
- SMT Assembly
- Semiconductor Packaging
- Consumer Electronics
Global Solder Paste Market by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.