The soldering segment within the electronics assembly sector is projected to expand from US$ 2,001.96 million in 2023 to US$ 2,624.71 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.6% during this period.
As the electronics industry continues to evolve, there is an increasing need for connecting materials that exhibit superior thermal conductivity and lower electrical resistivity. The advancements in connectivity materials significantly enhance the performance of electronic devices and their components. Consequently, the rising demand for soldering products has prompted market participants to innovate and develop new soldering solutions that deliver better performance and improved process efficiency. Notable product introductions by players in the soldering in electronics assembly market include:
- In March 2021, MacDermid Alpha Electronics Solutions launched ALPHA OM-220, an ultra-low temperature solder paste designed for heat-sensitive components. This product is characterized by its excellent electrical reliability and minimal voiding, making it suitable for applications in consumer electronics, automotive, and medical sectors.
- In February 2022, Nihon Genma introduced two new solder paste product lines. The NP303-DPS101-T4/T5 variant is known for its stable dispensing and solderability, while the NP303-DPF201-T6/T7 variant excels in providing stable dispensing for fine dot sizes.
- In October 2022, KOKI Company Ltd launched S3X58-HF1100-3, a halogen-free solder paste that features multi-functional soldering capabilities. This paste utilizes advanced wetting and flux coagulation techniques, enhancing overall soldering performance and making it suitable for a variety of general-purpose applications.
- In April 2022, Feinh?tte Halsbr?cke GmbH and Emil Otto GmbH introduced a new solder wire that is flux-filled and designed to minimize smoke emissions during soldering processes.
These innovations are driving the demand for technologically advanced products, thereby further stimulating growth in the soldering in electronics assembly market.
Effects of the COVID-19 Pandemic on the Soldering in Electronics Assembly Market
The COVID-19 pandemic has had a profound impact on various industries, including automotive, aerospace, consumer electronics, and manufacturing. The outbreak disrupted global supply chains, affecting both manufacturers and suppliers due to shortages of electronic components. Measures such as factory closures, trade restrictions, and border lockdowns were implemented to curb the spread of the virus, which adversely affected operations worldwide. Additionally, many electronics manufacturing facilities in China, a key player in global electronics production, were temporarily closed to mitigate the virus's spread. This disruption in China significantly impacted the soldering in electronics assembly market.
North America is home to numerous electronics manufacturers that are actively engaged in continuous innovation and the development of new products to enhance their market presence. This dynamic is propelling growth in the North American market. Prominent electronics manufacturing companies in the region include Benchmark Electronics, Inc., Celestica Inc., Creation Technologies LP, Key Tronic Corporation, and Sanmina Corporation, among others. Soldering is a critical process in electronic manufacturing, as it ensures the secure attachment of various components. Therefore, the substantial presence of electronics manufacturers in North America is a key driver of growth in the soldering in electronics assembly market within the region.
The overall size of the soldering in electronics assembly market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the soldering in electronics assembly market. This approach also aimed to provide an overview and forecast of the market size across all segments. Furthermore, multiple primary interviews were conducted with industry stakeholders to validate the findings and obtain analytical insights. Participants in this process included vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the soldering in electronics assembly market.