Ultra-low Alpha Metals Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2016 – 2024
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Market Research states that the global ultra-low alpha (ULA) metal
market is facing moderate competition. The leading players operating
in the global market are Honeywell International Inc., Indium
Corporation, Pure Technologies, and DUKSAN Hi-Metal Co., Ltd. Wide
product portfolio of these companies has helped them gain an edge
over the others in the coming years. The booming aviation and
automotive industries are expected to offer players in the global
market ample opportunities to grow in the coming years. Thus, several
players are steering the development of their products to suit the
requirements of these industries.
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According
to the research report, the global ultra-low alpha metal market is
expected to be worth US$4.72 mn by the end of 2024 from US$2.53 in
2015. Between the forecast years of 2016 and 2024, the global market
is expected to surge at a CAGR of 7.30%.
Asia
Pacific Leads the Pack with Flourishing Electrical and Electronics
Industry
In
terms of geography, the global ultra-low alpha metal market is
segmented into North America, Latin America, Europe, Asia Pacific,
and the Middle East and Africa. Of all these regions, Asia Pacific is
expected to lead the global market as it is poised to acquire a share
of 63.81% by 2024. The phenomenal contribution of Asia Pacific to the
soaring revenue of the global ultra-low alpha metal market will be
due to its flourishing electrical and electronics industry. The usage
of lead-free alloys is expected to drive the demand for ultra-low
alpha tin in Asia Pacific throughout the forecast period.
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The
products available in the global market are ULA tin, ULA tin alloys,
ULA lead alloys, and ULA lead-free alloys. The report indicates that
ULA lead-free alloys segment held a dominant share in the global
market in 2015 due to its widening applications. By the end of 2024,
this segment is expected to acquire a share of 41.8% in the overall
market, which will be larger than the rest. The demand for ULA
lead-free alloys is expected to grow against the backdrop of
restrictions pertaining to the usage of heavy meals in electronic
products.
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Preference
for Safer Alloys Augments Demand for ULA Metals
The
stern rules such as Restriction on Hazardous Substances (RoHS)
Directive that are dissuading the usage of hazardous substances in
several electric and electronic equipment has augmented the demand
for the ultra-low alpha metal in recent years. The European Union was
the first region to accept this directive in 2003, while the world
followed suit with a few changes in a few countries. Such directives
have coaxed electronic equipment manufacturers to reduce the usage of
hazardous materials and replace it with ultra-low alpha metals.
Subsequently, it has augmented the demand for alternate alloys that
contain lead for the purpose of soldering. Several alloys with silver
are also being preferred for soldering despite their expensive
pricing as they offer improved process results.
Fluctuating
Prices of Raw Materials to Hamper Sales
The
fluctuating prices of raw materials that eventually impact the cost
of alloys is expected to hamper the growth of the market.
Furthermore, the volatile situation of supply and demand is also
expected to restrain the market from achieving its true potential.
The demand for the ultra-low alpha metal is determined by
exceptionally specific demands of consumers. Therefore, the changing
patterns of consumer demands are expected to have a direct impact on
the global market.
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