Solder Flux Market Size

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.