Solder Flux Market size worth over $250 million by 2026
Published Date: May 18, 2020 Authors: Kiran Pulidindi, Sayan Mukherjee
According to a new research report by Global Market Insights, Inc., the Solder Flux Market size is expected to exceed $250 million by 2026. Proliferation of solder products in the Asia Pacific electronics business will drive the market demand over forecast time period.
Trending automotive electronics industry will stipulate product demand across the globe
Rising need for electronic parts across automotive sector will drive the product demand in the projection time period. Electronic components are utilized in vehicles for enhancing vehicle performance & efficiency as well as for entertainment units. These components are used in advanced driver assistance, electronic fuel injection, infotainment, and airbags. Rising vehicle production across the world will be increasing usage of electronics components, which will further propel solder flux market demand by the end of 2026.
Global automotive production in 2019 was recorded above 90 million units. Asia Pacific region accounted for most of the share in global automotive production. China, the largest automotive manufacturing country in the world, accounted for around 28% of the global automotive production. It can be majorly attributed to the robust economic development, increasing spending power of middle-class populace, public & private investments, favorable government initiatives, etc.
Initiatives from the Government of India such as FAME to promote faster adoption and manufacturing of (hybrid) and electric vehicles and NATRiP to improve automotive research & development in the country have attracted investments from many global players. These trends are likely to prosper the growth of regional automotive industry, which in turn, will propel the regional solder flux market consumption.
Although the market is growing at significant rate, stringent government norms may impose challenges for manufacturers over upcoming years. For instance, European Union has provided Regulation (EC) No 1272/2008 for classification, labelling and packaging of solder flux, in order to protect environment and human health. These regulations may impact the solder flux market share by the end of 2026.
Browse key industry insights spread across 100 pages with 89 market data tables & 19 figures & charts from the report, “Solder Flux Market 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” in detail along with the table of contents:
No-clean products will be growing at more than 7.5% rate throughout projection time period owing to its increasing usage in selective soldering applications. The product eliminates need for expensive cleaning after soldering process. Growing concerns towards wastage generated from electronics industry will further propel demand for no-clean solder flux in the industry.
Automotive sector will be generating more than USD 30 million in 2026. Automotive industry utilizes solder flux for various applications such as, brazing, welding, soldering, etc., of different parts and components. Growing vehicle production in Asia Pacific will be key growth driving factor for the solder flux market development by the end of 2026.
Proliferation of automated vehicles in the U.S. will increase popularity of solder flux across North America
North America accounted for considerable share in 2019 and is estimated to hold over 10% by 2026 owing to the increasing need for automotive electronics in the region. Rising demand for safety and miniaturization of components in the automotive sector will increase penetration of electronics parts in upcoming years. Such trends will further propel solder flux market demand over the forecast time period.
Growing demand for printed circuit boards in the region will promote the growth of North American solder flux market by 2026. Presence of large number of PCB manufacturers along with rising sales of electronic products in the region will be a key growth enabler for the solder flux industry over projected timeframe.
Some participants in the global solder flux industry include Henkel, MacDermid Alpha Electronics Solutions, Senju Metal Industry Co., Ltd, TAMURA Corporation, KOKI Company, LA-CO Industries and many more.