Solder Flux Market by Regional Analysis, Key Players and Forecast 2024
According
to a new research study by Transparency Market Research (TMR), the
rivalry between Johnson Matthey, Henkel AG & Co. KgaA, Heraeus
Holding, and Kester define the competitive landscape of the global
market for solder flux. A large number of established players with
state-of-art technical capabilities operate in this highly fragmented
market.
These
players mostly benefit from their experience as they have gained
proficiency in producing solder flux for electrical and electronic
equipment. Going forward, they would engage more in mergers,
acquisitions, and partnerships, which is likely to curtail the
competition within this market a little in the near future, notes the
study.
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TMR
estimates the global market for solder flux offered an opportunity
worth US$213.2 mn in 2015. Rising at a CAGR of 6.30% during the
period from 2016 to 2024, the value of this market is likely to touch
US$367.3 mn by the end of the forecast period. The demand for solder
flux has been exceptionally high from ball grid arrays (BGAs) and the
scenario is expected to remain same over the forthcoming years.
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Rise
in Automotive and Consumer Electronics Sectors to Ensure Dominance of
Asia Pacific
The
research report also presents a geographical assessment of the
worldwide market for solder flux, according to which, the global
market is spread across Latin America, Europe, Asia Pacific, North
America, and the Middle East and Africa. Currently, Asia Pacific
holds the topmost position in this market, thanks to the fast
developing consumer electronics and automotive industries. Asia
Pacific accounted for a share of more than 60% in the global shipment
volume of solder flux in 2015.
With
the steady growth of the printed circuit board (PCB) and the
semiconductor industries, China has emerged as the key domestic
market for solder flux in Asia Pacific and is likely to retain its
position over the period of forecast. India is also expected to
witness a steady rise in its market for solder flux in the near
future, thanks to the increasing number of government initiatives,
especially the “Make in India” project. The strengthening
economic conditions in China, India, and other Asian countries are
projected to support the Asia Pacific solder flux market
substantially during the forecast period.
On
the flip side, North America and Europe, which collectively, held a
prominent share in the global market for solder flux previously, are
likely to experience moderate declining due to the maturing state of
the North American market and the economic instability in Europe over
the next few years, states the research report.
Rising
Demand for Computers and Mobile Phones to Boost Application of Solder
Flux in PCBs
“As
a widespread range of solder flux products of various grades are
employed in printed circuit boards (PCBs), the increasing production
of PCBs, boosted by the augmenting demand for computers and mobile
phones, will reflect positively on the sales of solder flux across
the world over the forecast period,” says the author of this
report.
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Apart
from this, the rise of the automotive and the semiconductor markets
in the world, especially in the emerging economies, is also
anticipated to boost the growth of this market in the near future.
However, the easy availability of PCB design software may create
obstacles in the growth trajectory of this market over the years to
come, reports the study.
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