Solder Materials Global Market Report 2024

The global solder materials market has grown steadily in recent years. It will grow from $2.03 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth observed during the historical period can be credited to several factors, including the increasing adoption of renewable energy electronics, a focus on enhancing reliability and durability of products, expanding applications within the automotive sector, and advancements in miniaturization within the electronics industry.

The global solder materials market is expected to see steady growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. Anticipated growth in the forecast period is expected to stem from factors such as a focus on enhancing supply chain resilience, the implementation of circular economy initiatives, increased applications within the aerospace and defense sectors, and advancements in medical electronics. Key trends projected for this period include the integration of Industry 4.0 and smart manufacturing practices, continuous advancements in manufacturing processes, the development of high-speed and high-frequency electronics, as well as a notable shift towards sustainable and eco-friendly solder materials aligned with green initiatives.

The solder materials market is anticipated to experience growth driven by an upswing in demand from the electronic industry. The electronics sector encompasses businesses engaged in designing, manufacturing, and selling equipment like computers, semiconductors, integrated circuits, and more. Solder, a crucial component in this industry, is used to create mechanical and electrical joints essential for maintaining components in circuits. A vision document released by the Ministry of Electronics and Information Technology in January 2022 predicts a substantial increase in the electronics industry, projecting a rise from an estimated US$15 billion in 2021-2022 to US$120 billion by 2026. This surge in electronics demand underpins the growth trajectory of the solder materials market.

The solder materials market is poised for growth due to the increasing demand for microelectronic devices. These devices, built on a small scale, rely extensively on solder materials for the electrical and mechanical connection between the silicon die and bonding pads. In 2021, the U.S. Department of Energy allocated nearly $54 million for 10 projects led by national laboratories, aiming to enhance energy efficiency in microelectronics design and production. This impetus reflects the rising need for microelectronic devices and contributes to the expansion of the solder materials market.

A notable trend in the solder materials market is the focus on technological advancements. Companies operating in this market are actively developing innovative technologies for soldering metal alloys, positioning themselves competitively. For instance, SAFI-Tech Inc., a U.S.-based manufacturer of lead-free soldering alloys, introduced a super-cooled soldering technique based on SAC305 in June 2022. This technique, utilizing a micro-encapsulation process, stabilizes the supercooled liquid phase of SAC305 within a nanofilm shell. This groundbreaking approach extends the usefulness of the liquid phase to temperatures well below the alloy's typical solidification point, preventing thermal damage to components and materials. The technique addresses quality challenges arising from coefficient of thermal expansion mismatches, showcasing advancements in soldering technologies.

Leading players in the solder materials market are strategically focusing on the development and introduction of innovative products like the ALPHA HRL3 Solder Sphere to fortify their market positions. The ALPHA HRL3 Solder Sphere stands out as a lead-free, low-temperature, high-reliability alloy specifically crafted for ball mount applications in industries such as semiconductors, circuitry, and electronics assembly. In May 2022, Kester, a prominent U.S.-based supplier of assembly materials for electronic assembly and microelectronics, unveiled the ALPHA HRL3 Solder Sphere. This product not only offers the benefits of being lead-free and operating at low temperatures but also delivers enhanced drop shock and thermal cycling performance compared to existing alloys in the low-temperature segment. The ALPHA HRL3 Solder Sphere's attributes include a wide operating window, cost savings through low-temperature materials, and reduced warpage.

A noteworthy acquisition in the industry occurred in March 2022 when Lincoln Electric Holdings Inc., a major U.S.-based producer of soldering alloys, automated joining systems, and welding solutions, acquired Kestra Universal Soldas. Kestra, based in Brazil, specializes in manufacturing welding consumables and wear plates, providing maintenance and repair services for alloy and wear-resistant items. This strategic acquisition aligns with Lincoln Electric's 2025 higher standard plan, reinforcing Kestra's expertise and expanding the offering of specialty alloys and services in the South American region.

Major companies operating in the solder materials market report are Lucas-Milhaupt Inc., Henkel AG & Co. KGaA, Senju Metal Industries Co. Ltd., Koki Company Limited, Indium Corporation, Kester, Alpha Assembly Solutions, Nihon Superior Co. Ltd., Heraeus Holding GmbH, AIM Metals & Alloys LP, Qualitek International Inc., FCT Assembly Inc., Tamura Corporation, DUKSAN Hi-Metal Co. Ltd., Balver Zinn Josef Jost GmbH & Co. KG, MG Chemicals Ltd., Nihon Handa Denki Co. Ltd., Nihon Genma Manufacturing Co. Ltd., Nihon Almit Co. Ltd., Yashida Corporation, Tongfang Tech Co. Ltd., Shenzhen Bright Technology Development Co. Ltd., Shenzhen Jufeng Solder Co. Ltd., Shenzhen Xinqiao Automation Co. Ltd., The Indium Corporation, Indium Corporation, Eutectic Gold/Tin Solder, Liquid Metal - Gallium and Gallium Alloys, NC-10HF Flux Coating for Solder Preforms, Nitinol Soldering Kit, No-Clean Fluxes for Coating Solder Preform

Asia-Pacific was the largest region in the solder materials market share in 2023. North America was the second-largest region in the solder materials market. The regions covered in the solder materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solder materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products within solder materials include wire, paste, bar, flux, and various other related products. Wires consist of conductive alloys with low melting points, facilitating the bonding of metals possessing higher melting points. Various soldering processes, such as wave/reflow, robotic, screen printing, and laser techniques, are utilized across industries including consumer electronics, automotive, industrial manufacturing, construction, and other sectors.

This report provides solder materials market statistics, including solder materials industry global market size, regional shares, competitors with a solder materials market share, detailed solder materials market segments, market trends and opportunities, and any further data you may need to thrive in the solder materials industry. This solder materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The solder materials market consists of sales of lead-based and lead-free solder materials. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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