[FURL=https://www.industryarc.com/Research/Solder-Materials-Market-Research-508458]Solder Materials Market[/FURL] size is forecast to reach $2.3 billion by 2026, after growing at a CAGR of 5% during 2021-2026. Solder is a metal alloy used to made of tin and lead which is melted using a hot iron. The iron is heated to temperatures above 600 degrees fahrenheit which then cools to create a strong electrical bond. So, with increasing demand for soldering in the electronics industry in various electronics refurbishing such as PCB boards and Surface Mount Devices, the solder materials market is witnessing an increase in demand. However, growing government initiatives towards digitalization is expected to drive the market for solder materials during the forecast period, as it is also IoT based technology.COVID-19 Impact
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. The demand for solder materials declined, as many of the electronics manufacturing plants remained closed. As an example, In India, it is expected that the semiconductor industry will drop by 0.9% in 2020. So, these decline in semiconductor industry will drop the demand for solder materials.
Key Takeaways
Asia-Pacific dominates the solder materials market owing to increasing demand from applications in electronic, automotive, aviation and other industries.
The growing popularity of solder materials at low cost, is likely to aid in the market growth for solder materials.
Growing government initiatives towards IoT and embedded based technology will increase the market demand for solder materials in the near future.
Solder materials have low strength joints which will create hurdles for the Solder Materials market.
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Solder Materials Market Drivers
Growing demand for phones
Government initiatives will boost demand for Solder Materials
Solder Materials Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solder Materials market. Major players in the Solder Materials Market are Fusion, Inc., Indium Corporation, Kester, Koki Company ltd, Lucas Milhaupt, Inc., Nihon Genma, Qualitek International, Inc., Senju Metal Industry Co., Ltd., Stannol GmbH Co. KG, Tamura Corporation, The Dow Chemical Company, among others.
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