The global solder materials market was valued at US$ 1,477.17 million in 2019 and is expected to grow at a CAGR of 4.0% to reach US$ 2,255.30 million by 2030.
Soldering is known as a process in which two or more than two metals are joined together by melting and followed by placing a filler metal, called solder, into the joint. The filler metal used in the process has a lower melting point compared to the adjoining metal. In the past decades, nearly all solders contained lead; however, environmental and health concerns among consumers have increasingly dictated the use of lead-free alloys for electronics and plumbing purposes. Solder is used in electronics, plumbing, construction, and metalwork in flashing to jewelry, medical, and musical instruments. Solder mainly provides reasonably permanent but reversible connections between copper pipes in plumbing systems along with joints in sheet metal objects such as food cans, rain gutters, roof flashing, and automobile radiators. Electronic solder connects electrical wires to devices and electronic components to printed circuit boards.
Based on product, the solder materials market is segmented into wire, paste, bar, flux, and others. The wire segment accounted for the largest share of the global market in 2019; whereas, the market for paste is expected to grow at the highest CAGR during the forecast period. Solder wire comprises different types of alloys or pure tin. As the combinations of metals that comprise solder wire melts at different temperatures, each metal requires a certain type of solder wire to create strong bonds. The most common metals utilized in solder wire are Lead (Pb) and Tin (Sn). Soft solder basically melts in the range of 190?900?F. Lead-free solders are increasingly used owing to regulatory requirements along with the health & environmental benefits toward avoiding lead-based electronic components. They are mostly used in consumer electronics.
Geographically, the Solder materials market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific held the largest share of the market in 2019, followed by North America. The region has surfaced as one of the prominent markets for the utilization of solder materials. Asia Pacific has ranked highest among electronics producing regions. In 2019, China dominated the regional market, followed by other countries such as Japan, India, Vietnam, Korea, Thailand, Malaysia, and Indonesia. High demand for solder materials along with the increasing adoption of smart electronic products in this region is propelling the growth of the solder materials market. With such a considerable growth, this region is going to be the most attractive region for solder materials market during the forecast period2020 to 2030.
Fusion Incorporated; Indium Corporation; Kester; KOKI Company Ltd.;Lucas-Milhaupt, Inc.; Qualitek International, Inc...;Senju Metal Industry Co., Ltd.;Stannol GmbH & Co. KG.;TAMURA Corporation ;and Nihon Genma are among the well-established players present in the global solder materials market.
The solder materials market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the solder materials market.