Solder Flux Market Size by Product (Rosin-Based, Water Soluble, No-Clean), by Sector (Consumer Electronics, Automotive, Telecommunication), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Solder Flux Market Size

Solder Flux Market size was valued over USD 235 million in 2019 and is estimated to exhibit CAGR above 5.7% from 2020 to 2026. Proliferating electronics industry coupled with surging demand for PCB is expected to trigger the growth of global market.
 

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Positive outlook for electronic & electrical industry coupled with significant R&D investments for manufacturing of advanced electronic components is one of the prime factors propelling the global solder flux market growth. Under electronics sector, consumer electronic segment is expected to be the fastest growing segment and is majorly driven by rising popularity for smartphones, smart speakers, and wearable devices.
 

Increasing per capita income and growing need for gadgets such as mobile phones, tablets, laptops, and other home electronic appliances have spurred the demand for consumer electronics. China, the U.S., India, Brazil, and Japan are some of the top countries in consumer electronic industry. Soldering flux is mainly used in soldering applications in Printed Circuit Boards (PCBs) assembly, wire tinning, and in component lead tinning. Thus, augmenting electronic business resulting in growing need for soldering is a key factor driving the solder flux market.
 

PCBs play a vital role in electronic components and are an essential foundation in almost every electronic device. Almost all types of industries are employing PCBs, although consumer electronics is the largest consumer. Rising demand for wearable devices and flexible circuits are driving the PCB. Also, surging adoption of automation in various industries coupled with growing miniaturization of devices spurs the circuit board growth.
 

Millions of people depend on consumer electronics such as laptops, microwave, and other home appliances, which have a circuit board inserted in them. The PCBs have metal surfaces which are exposed to air, resulting in the formation of oxides and impurities on the surface. This impurity prevents the formation of good solder joints.
 

Solder flux prepares the PCB surface for soldering by cleaning and removing the metal oxides. In addition, it protects the metal surface form re-oxidation during soldering process by altering the surface tension of the molten solder. Thus, growing PCB production, significantly drives the solder flux market growth.
 

However, rosin-based fluxes generate visible fumes while soldering. The exposure of these fumes can result in skin sensitization and respiratory illness, causing asthma, owing to which Rosin is regarded as a serious occupational health hazard. Occupational Safety and Health Regulations (OSHA) imposes stringent regulations for its usage in strictly controlled areas, thus, hindering the solder flux market demand.
 

Additionally, the outbreak of COVID-19 pandemic has adversely affected the electronic industry, especially the consumer electronics sector. The production facilities of consumer electronic products have shut down due to unavailability of workers and logistical imbalances. Also, significant disruption to supply chain has resulted in shipment delays for electronic manufacturers.
 

Furthermore, as many companies rely on components and raw materials from China, the limited availability of electronic components has declined the production of consumer electronic devices. These factors are likely to hinder the electronic sector growth, further affecting the solder flux market consumption.
 

Solder Flux Market Analysis

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Based on product type, solder flux market is segmented into rosin-based flux, water soluble flux and no-clean flux. In 2019, rosin-based flux held the largest market share of around 50% in 2019. Rosin-based flux is classified into three types­ rosin-based flux-Rosin (R), Rosin Mildly Activated (RMA), and Rosin Activated (RA). Rosin flux is typically used for cleaning surfaces which are already clean without leaving no residue behind.
 

This resin is non-conductive, hard, and corrosion-resistant, thus garnering the highest solder flux market share. RA has the highest cleaning ability, however, can leave a substantial amount of residue behind. In electronics, these residues can lead to failures in harsh environments., Thus it is expected to lose its share to no-clean product type in the forecast timeframe.
 

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On the basis of sectors, the solder flux market is segmented into consumer electronics, automotive, telecommunication and others which include industrial electronics, military, etc. The consumer electronics sector garnered the highest market share in 2019 and was valued over USD 100 million. This is mainly attributed to the rising popularity of PCBs in consumer electronics such as mobile phones, computers, home appliances, etc.
 

Product finds usage in cleaning the surface of PCB before the soldering process. It helps in deoxidizing metals (Copper tracks on the PCB) and helps in removing any impurities, thereby enhancing soldering and wetting operations. Positive outlook for electronic components in consumer electronics across the globe spurs the PCB demand, thus driving the product consumption.
 

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The Asia Pacific is the largest and the fastest-growing regional market accounting for almost 70% in 2019. Asia Pacific is the hub for electronic components and consumer electronic sectors, with China as the leading country in electronics, with a market size of nearly USD 1,685 billion in 2016. Also, the region held around 3/4^th of the PCB market in 2019 owing to the presence of large number of semiconductor companies and growing popularity of smartphones, tablets, laptops, etc.
 

China is the market leader in consumer electronics and was valued at over USD 130 billion in 2019 due to the upsurge in the demand for home appliances, smart devices, televisions. Countries such as China, South Korea, Malaysia, and Japan, were some of the top countries in electronic component exports in 2019. Thus, positive outlook for electronic industry in the region is expected to surge the production of PCB and other electronic components, thus positively influencing the solder flux market.
 

Solder Flux Market Share

Some of the key players in the global solder flux industry are

• Henkel
• PREMIER INDUSTRIES
• MacDermid Alpha Electronics Solutions
• Indium Corporation
• INVENTEC PERFORMANCE CHEMICALS
• KOKI Company Ltd
• La-Co Industries Inc
• Shenzhen Tong fang Electronic New Material Co., Ltd.
• FCT Solder
• Johnson Matthey

Most of the market players are adopting acquisitions, product launches, and capacity expansions strategies to gain competitive strength.
 

For instance, in December 2019, MacDermid Alpha launched ALPHA EF-8800HF no-clean wave solder flux in order to solve assembly issues in the wave soldering process for high-density PCBs. These strategies strengthen the solder flux market position.
 

Solder flux market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Thousands from 2016 to 2026, for the following segments:

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By Product

• Rosin-based
• Water soluble
• No-clean

By Sector

• Consumer electronics
• Automotive
• Telecommunication
• Others

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • Japan
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa